Accountancy and business advisory firm BDO has advised on 28 deals with a combined deal value of £1.1bn in H1-2023.
BDO has advised on transactions involving businesses in the Midlands and East Anglia across a wide range of sectors, including technology, professional services, healthcare, support services, building products and recruitment. In 15 of the transactions, BDO provided buy-side advice and on 13 of the deals BDO was the sell-side adviser.
Highlights of 2023 so far include: BDO providing a full suite of sell-side advisory services covering M&A deal advisory, structuring and tax planning in relation to the sale of TLO Risk Services to Specialist Risk Group.
BDO also advised Innotech Digital and Display Limited, a UK-based supplier of wide and grand format print media and display hardware to UK, Europe and US markets, on its successful sale to Vink UK Limited. BDO also provided vendor due diligence services to the sellers.
In East Anglia, BDO advised the shareholders of Thomas Ridley and Son Limited, trading as Thomas Ridley Foodservice, on its sale to Bidcorp UK.
Roger Buckley, M&A partner at BDO, said: “From privately-owned businesses to PE-backed companies and listed entities, the variety of transactions we’ve advised on this year indicates the diversity and resilience of the regional economy.
“Overall, deals have been taking longer to complete with investors showing more caution but quality businesses in all sectors are attracting interest despite market uncertainty, and indications suggest that this may continue for the remainder of the year.”
Vinny Patel, corporate finance partner in transactional services, added: “We’d expect to see a rise in deal activity over the second half of the year and there are even some green shoots in capital markets, with the outlook for the mid-market still looking brighter than elsewhere.
“Entrepreneurially-minded, ambitious businesses are still going for growth and looking for opportunities to expand and invest through the cycle.”
