MHA Tait Walker Corporate Finance team celebrates record year in 2021 after closing over £ 100million in deals for companies in the North East and beyond, marking busiest 12 months for the company in almost a decade.
Led by Corporate Finance Partner Steve Plaskitt, the team advised 22 Corporate Finance transactions, including five disposals, two buyouts, five fundraising and seven acquisitions. These included working with five private equity firms, out-of-region clients, and cross-border mergers and acquisitions involving buyers and lenders in North America, Europe and the Middle East. October was the team’s busiest month yet with five deals closed in the first ten days.
In addition to having experienced successful growth, the Corporate Finance team continued to develop, with the appointment earlier of the year of John O Sullivan as Corporate Finance Executive. A manager-level recruiting drive over the summer also saw the appointment of Mike Williams to further strengthen the team’s transaction support and due diligence capabilities at Teesside, with further additions planned in the near future. term to support the teams’ pipeline of ongoing transactional activities.
This is the second year in a row that the accounting firm has celebrated record growth at the end of the year, having closed 2020 with £ 100million in deals closed for businesses in the North East – all against the backdrop of the pandemic .
Steve Plaskitt, Partner at MHA Tait Walker Corporate Finance, said: “It is through the growth and success of our clients that we have been able to show strong performance while growing our team this year.
“We have seen fees reach their highest level in over ten years. We have focused on customer relationships, providing specific support to Covid19, responding to the growing demand for private equity for data analytics and helping other companies in the MHA network.
“While at first glance we appear to be emerging from the pandemic and returning to ‘normalcy’, the reality is that northern SMEs, including us, have continued to work under extremely difficult circumstances over the past 12 months. , so to end the year at an all time high for a second year in a row is a phenomenal testament to our people. It is also extremely encouraging to make such complex and strategic deals for businesses in the North East, helping them to grow at a time when the economy needs it most.
“The recent fall budget provided a good platform for M&A activity for 2022 given that the tax conditions are relatively benign for existing shareholders as the capital gains tax has not increased, and as a government investment in the region, the new Freeport in Teesside as part of leveling for example, will allow the economy of the North East to move in the right direction.
Lee Humble, Associate Partner added, “The past twelve months have seen an immense volume of business and we are heading into 2022 with a stable of clients looking to run in the first half of the year.
“Fears over tax hikes and the post-Covid rebound have certainly fueled a thirst for business among our customers and we look forward to supporting a high volume of transactions in the months to come. Teesside remains a key area for us, and we are seeing an increase in the volume of activity in the area, while Private Equity also remains a good source of opportunity for us. Cross-border appetite remains high, and is expected to remain so over the medium term, and with traditional banking support varying, we also envision an increase in debt advisory services as our clients begin to look beyond conventional sources of capital.