High-profile PE deals boost Q3 activity
The £20m acquisition of Mamas & Papas and LDC's £70m purchase of Adler & Allan have helped maintain a relatively buoyant level of activity in Yorkshire's private equity buyout market, according to a new report.
Five deals worth £119m completed during the third quarter of 2014, according to the latest figures from the Centre for Management Buyout Research.
The research, sponsored by Equistone Partners Europe, shows that private equity dealmaking in Yorkshire had a robust level of completions given the summer period, although the average deal size was below the national average.
BlueGem's acquisition of Mamas and Papas in July and LDC's Adler & Allan deal last month were among the higher profile transactions in excess of £20m during the quarter.
Corresponding periods from previous years demonstrate that a slow third quarter is a more typical trend for the region, with just two deals worth £22.5m last year.
Steve O'Hare, partner at Equistone Partners Europe in the North of England, said: "Despite the summer period it is encouraging to see continued activity in Q3. This demonstrates the high quality of businesses and advisers in the Yorkshire market.
"It is clear that the economy is in a better state than in previous years and there is a greater sense of confidence from management teams looking to buy and sell.
"Deal pipelines also remain strong and the consensus is that the solid performance in Q3 will continue in the run up to Christmas and into 2015."