Strong end to 2017 as Grant Thornton seal four big deals
THE corporate finance team at leading business advisory firm Grant Thornton in Manchester has ended 2017 on a high after completing four major north west deals in the last five weeks.
The flurry of deals, collectively worth more than £100m, gives the team excellent forward momentum going into 2018.
Corporate finance partner Peter Terry, who joined Grant Thornton in February to lead the north west corporate finance advisory practice, said: “The team has had a cracking end to 2017, achieving some exceptional outcomes for our clients on both buy and sell side.
“I am confident this positive momentum will be sustained during 2018 as we are increasingly seen as the go-to firm for growth in the mid-market.
“Confidence in the mid-market is proving to be resilient - we have a strong pipeline of entrepreneurial clients looking for a partner, either a private equity firm or a trade partner, to help them take their business to the next level, which is great to see.”
Highlights include advising Wilmslow-based Stock Marketlisted bathrooms products manufacturer and supplier Norcros plc on a £60m deal to buy Merlyn Industries, a shower enclosure specialist based in the Republic of Ireland. James Eyre, director of corporate development and strategy at Norcros said: “Grant Thornton provided invaluable corporate finance support in helping us to execute this exciting acquisition.
“The advice, expertise and project management skills of the team were critical, especially when managing to a tight timetable.”
Another highlight was acting for leading mid-market private equity investor LDC on its buyout of Cumbria-based holiday cottage rentals firm Lakelovers.
As well as representing the founder of Sonassi, a fast-growing e-commerce hosting business in the £16.5m sale of the company to acquisitive Glasgow-based IT infrastructure company iomart plc.
Ben Lessani, founder and CEO of Sonassi said: “Going through a sale is complex, requiring a number of different skills. Ranging from sourcing and creating a competitive atmosphere of buyers, to financial review, forecasts, due diligence and SPA negotiation.”