Freeths advises on 70 deals ahead of Chancellor's Budget
National law firm Freeths revealed that it had completed, ahead of the Budget, 70 corporate transactions for clients in October this year, closing an average of two a day.
On the day before Chancellor Rachel Reeves' statement, it signed off more than 15 alone.
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"The drumbeat leading up to the budget was all about revenue raising and tax hikes," said corporate partner Lee Clifford.
"An increase to capital gains tax was firmly earmarked. Whilst this is not exclusively driven timelines in October, it has certainly added focus for parties who are in deal processes.
Clifford also noted there had been a "real mix" in the deal make up, from advising private equity on investments, to helping shareholders of SME businesses successfully exit, to restructurings.
"In retrospect, this has demonstrated the benefits of having a large and experienced corporate team on hand to react quickly to deal timelines," he said.
"Being able to guide owners with solutions has been of paramount importance. It has been a fun period and allowed us to demonstrate what we are good at. Looking forward I expect deal activity to be maintained."
Partner and national head of corporate Leon Arnold added: "I'm incredibly proud of what we have achieved this last month, which is down to the collaboration, dedication and talent of our team.
"Thank you to our clients and referrers for trusting us to get these transactions completed in challenging conditions."
It follows a year of record growth for Freeths’ corporate arm. Partner Martin Smith joined the team in April, closely followed by Director Hannah Tessyman in May.
The firm later welcomed the addition of Partner Ania Vernon in June. Meanwhile, senior associate Grace Hill is the latest to be appointed in the East Midlands.
Freeths is a top 50 commercial law firm and counts among its clients Centrica PLC, ENGIE, Aldi, Mercedes-Benz UK, Tarmac, Experian, and Lloyds Bank.
