£225m of deals in Wales marks a bumper year for law firm’s team
Law firm Blake Morgan acted on more than £225m worth of deals in Wales in 2017, including advising on 13 investments by the Development Bank of Wales.
Led by partner Rob Cherry, 2017 client deals included Brighter Foods, Templegate Electrical Supplies, BSN Social Care, Orbis Education & Care, Amberon and LDC. The value of deals, which includes management buy-outs, disposals and acquisitions, totals £225m over the 12-month period.
Equity investments in technology start-ups Paperclip, Cotton Mouton Diagnostics and Welsh energy business Trameto were just three of the 13 deals completed by the development bank with advice from Blake Morgan.
Richard Jones and Alex Butler lead the Blake Morgan team advising the development bank.
Mr Jones said: “2017 was a fantastic year for our team in Wales, with a superb total of 29 deals totalling £225m having been completed. We were particularly pleased to continue our long-standing relationship with Finance Wales as the newly formed Development Bank of Wales.
“It is easier than ever before for businesses to get the capital they need to start up, strengthen and grow. The launch of the development bank late last year means that there are new funds, more finance available and extended lending terms. In total, £440m is being made available to Welsh businesses, with further funds already under development.
“We are proud to have worked with so many ambitious and dedicated entrepreneurs. Given the uncertainty around Brexit, it is particularly encouraging to have seen such a buoyant year in 2017, along with a good pipeline of deals as we go in to 2018. Despite the doom and gloom surrounding Brexit, the signs for 2018 are definitely promising here in Wales.”
Chris Griffiths, of the Development Bank of Wales, said: “Micro to medium businesses are vital to the Welsh economy and that’s why we are absolutely committed to working with business industry groups, the private sector and government to ensure that the right support is available.”
The Development Bank of Wales offers a range of loans and equity investments, which can be paid back over periods up to 10 years. There is a wide range of finance available, from £1,000 up to £5m.
Blake Morgan has an international portfolio of multinational client companies (public and private), SMEs, owner-managed businesses and start-ups with a need for highquality corporate and M&A support and advice. The 11-strong corporate team in Wales is based at One Central Square in the centre of Cardiff.