Tech and green deals help Grant Thornton to strong first half in North despite pre-election ‘caution’

The Northern Corporate Finance Team at Grant Thornton Manchester
-Credit: (Image: Mark Waugh Manchester Press Photography Ltd)

Finance firm Grant Thornton says it enjoyed a strong first half of the year in the North despite “caution” reigning in the market ahead of the general election.

The group’s Corporate Finance team in the North successfully advised on four deals in the first half of the year, equating to more than £181m in value and with tech and ESG (Environmental, Social and Governance) particularly appealing to investors.

The team, led by partner Pete Terry, advised the shareholders of renewable energy specialist Next Energy on that company’s significant investment from FTSE 100 business DCC plc. Merseyside’s fast-growing Next Energy works with local authorities and housing associations to reduce energy costs in social housing stock.

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Earlier in the year, Grant Thornton advised on the Foresight-backed management buyout of Crewe-based Trak Global Security Solutions, which helps track stolen cars so they can be recovered. It also advised on Surrey-based Daikin’s acquisition of London’s Robert Heath Heating in January.

Most recently Grant Thornton advised Salford high voltage power engineering specialist Excalon Holdings as it was acquired by engineering group Renew Holdings in a deal worth up to £26m.

Four new recruits have joined the corporate finance team this year. Abi Godfrey has joined as director to lead the national Life Sciences and Pharmaceuticals sector from a Northern base, while Tilly Das-Gupta and Jamie Lannin were appointed as assistant managers, and Kate Ingram was appointed as associate director. Matt Bryden-Smith and Jim Whittaker were made partners earlier in the year.

Partner and Northern head of corporate finance Pete Terry said: “Despite the political and economic uncertainty that has been prevalent for some time, deals have continued to be completed in the mid-market.

“There is still a lot of caution in the marketplace, and we expect this to ease once the General Election has been decided, regardless of the outcome. Given inflation is expected to decrease throughout Q3, we are optimistic about the market. Locally and nationally, we've still got a lot of deals due to complete.

“We have completed some real quality deals in the first half of this year and continue to see a keen appetite for businesses with a proven track record in the technology and ESG-focussed spaces.”

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