The corporate and banking teams in the Manchester office of Gateley Legal are rapidly closing in on an aggregate deal value of £1bn following record transaction volumes delivered between the end of 2020 to March.
The Manchester corporate and banking teams have successfully closed over 40 transactions in the last fortnight alone, in part driven by concerns amongst some business owners that predicted increases in Capital Gains Tax in the budget could reduce exit values.
In addition to the vendor drive for exit, there has been more appetite amongst acquisitive corporate and private equity clients to transact at a time when interest rates remain low and the cost of funding deals remain keen.
Aggregate deal value for the Manchester team currently sits at circa £975m with more deals for the first two months of 2021 yet to be included in that number, representing the peak of what has been a busy six months for the North West corporate team and across the business nationally.
Some of the recent deals delivered by Gateley’s Manchester corporate team in the North West include Inspired PLC’s acquisition of Burnley-based energy consultant Businesswise for up to £30m; the NorthEdge funded MBO of Manchester-based cyber security business Distology and Surface Transform’s £20m fund raise by placing and open offer.