Tait Walker’s corporate finance team assisted with 15 high profile deals for local companies throughout 2015, expecting to reach 19 by the end of the year.
Funds were raised for a range of expanding businesses in the region, including Newcastle-based IT Services Company Atlas Cloud, who secured £1.5m of investment from new shareholders in the North East and London, fueling further growth, doubling the size of its workforce and positioning itself as one of the UK’s leading IT firms in June 2015.
The team also assisted a management buyout for Middlesbrough-based pharmacy group Knightingales Ltd which acquired its third pharmacy AC Moule and Co, with the owners complimenting the accountancy practice for the speed and quality of their guidance and delivery.
The same quick-turnaround secured the sale of Darlington based car dealership Blacks Autos to Gateshead based Vertu Motors PLC in just four months, from initial discussions to completion.
The corporate finance team is predicting a strong year ahead based on the very high activity levels in Q4 of this year. It has also highlighted growing confidence in the region’s marketplace with improved access to funding such as the £120m from renewed regional JEREMIE funds, which will go towards a resurgence in the North East economy.
Tait Walker partner Michael Smith said: “The mood in the marketplace is improving and the deals completed this year show there is great confidence in the region. The next tranche of JEREMIE Funding has hugely positive implications as does the marked increase in the number of banks willing to fund North East businesses.
“From discussions with our clients and looking at the corporate finance team’s current pipeline of activity, the future looks very positive. We’re certainly looking forward to working with some great businesses over the next 12 months”