PwC Midlands records strong year

PwC Midlands records strong year

PwC’s Midlands deals team recorded yet another strong year in 2015 after advising on over 40 successful transactions with a combined value of around £7.3bn.

During the year, the team was involved in a number of high profile transactions. These included Center Parcs landmark sale to Brookfield Property Partners and Equistone Europe’s £126m sale of high performance label supplier Worldmark, to Canadian CCL Industries.

In the run up to the Christmas period the Midlands deals team also succeeded in selling out of administration the vast majority of steel manufacturer Caparo Industries. The Caparo deals comprised 4 separate transactions and safeguarded over 1,100 jobs nationwide.

Matt Waddell, partner and head of PwC’s deals business in the Midlands, said: “As we expected at the start of this year, we have seen a significant increase in activity levels and are delighted to have advised both long-established and new clients on so many successful transactions over the last twelve months.

“As we look forward into 2016, we expect this upturn in deals activity to continue and, with our continued investment in our Midlands deals business, we look forward to another successful year.

“Our pipeline for 2016 is already strong and we expect to be able to announce involvement in a number of further transactions during the first quarter of the New Year.”

The team also acted on a range of automotive and manufacturing transactions, including the sale of automotive testing business MIRA to the Japanese company Horiba and the equity investment by global materials company Cytec Industries in Penso Consulting.

Earlier today, BQ reported how deals for small companies increased by 12% in 2015 making it the strongest year for mergers and acquisitions (M&A) in eight years.