EY’s North Strategy and Transactions teams acted on over 14 completed deals worth £2bn in Q4, bringing the 2021 activity to a total of over 60 completed deals worth £9bn.
Across the North, EY provided sell side financial, legal, operational and IT separation and tax support to Croda, as it sold elements of its Performance Technologies and Industrial Chemicals (PTIC) business to Cargill. Further, EY was an exclusive financial advisor to Synetiq Ltd, a leading integrated salvage and vehicle dismantling company, the team provided corporate finance, financial and tax due diligence as it was acquired by US group IAA Inc.
In the North West, EY provided vendor due diligence to SRL Traffic Systems on its sale to 3i Infrastructure plc, and supported DA Languages as it was acquired by private equity firm IK Partners. In addition, the team provided financial due diligence to Miss Group, as it acquired Webland, and supported Radius Payment Solutions on its acquisition of Vue Group.
EY’s Corporate Finance team provided M&A advisory services to the shareholders of North West-based Kids Planet, on securing investment from Fremman Capital. EY Parthenon also provided vendor commercial due diligence services and EY Tax provided tax advisory services to Kids Planet. In addition, the team advised Endless on the sale of Adare SEC to Opus Trust Communications.
In Yorkshire, EY provided sell side support to Advanced Supply Chain Group, acquired by Reconomy, and to Johnson Matthey plc on its disposal of AGT to Fenzi. The team provided buyside tax due diligence to Aramark, as it acquired independent foodservice company, Wilson Vale. Additionally, EY supported Pelsis Group as it acquired professional pest control products businesses Sanitrade and distributor Vesta Distribuciones.
Mark Clephan, Corporate Finance Partner at EY in the North, said: “Overall, the market was very busy in 2021 – with healthy levels of dealmaking driven by the desire to invest in new technologies, unlock new opportunities and deliver efficiencies.
“The year saw high prices, together with elevated levels of activity leading to many advisers being sold out, record levels of IPOs and overseas trade and private equity activity. Looking ahead, we can expect strong continued dealmaking activity by UK companies, although it is likely to be at a more manageable level.”
Mark Allcroft, Strategy and Transactions Partner for EY across Yorkshire and the North East, said: “2021 saw one of our best years of dealmaking yet. Despite the headwinds of COVID-19 and global supply chain disruption, the appetite for investment in the UK remains strong.
“Across Yorkshire and the North East, although businesses are still adapting to the new realities of work, and the urgent need to accelerate the journey to more a sustainable future, I expect 2022 dealmaking to remain active and continue at pace.”
Steven Kingham, Partner and Head of Transaction Services for EY in the North West, said: “As the deals market continued apace, our team remained busy across several technology and e-commerce sector deals, as these businesses continued to transact and perform well throughout the pandemic. 2021 saw similar trends of dealmaking to 2020, although key trends including Sustainability and ESG, have become an increasingly important aspect of dealmaking.
“Looking forward to 2022, I expect the market to remain buoyant and I’m preparing for another exceptionally busy year – with a strong pipeline of work already and plans to grow our team further.”