Mills & Reeve has advised on eight deals in the first half of the year, with a combined deal value of close to £200 million.
The Midlands corporate team has acted on a number of high-profile deals in the last six months, with 50% of transactions health-related and a quarter involving food and beverage companies. Half of deals in the first half of the year were cross-border, with one in four PE-backed.
Ryan Hawley, corporate partner at Mills & Reeve in the Midlands, said: “The first half of the year has demonstrated that when high quality businesses come to market, there is a real appetite to get deals done – from both trade and PE-backed buyers.
“Global and economic uncertainty has naturally created a more cautious deals environment, with greater focus on valuations and due diligence than ever before. However, certain sectors, such as health and care, manufacturing and construction, continue to attract the attention of both domestic and overseas buyers, as companies turn their attention towards strategic consolidation to drive growth and efficiencies.”
Significant regional deals in H1 include advising the shareholders of Ambala on its acquisition by Cake Box plc. This strategic £22 million deal marks a significant milestone in the food industry, bringing together two renowned brands to create a unique blend of traditional and contemporary delicacies. Mills & Reeve also acted on the sale of Unisurge International Ltd. – the manufacturer and supplier of Custom Procedure Packs (CPTs), disposable surgical products, surgical instruments and further OR products – to Lohmann & Rauscher Group. In addition, the team advised on sale of residential care and support provider Creative Care to specialist support service Consensus. Both companies support people with autism, learning difficulties and other complex needs, with Creative Care running 10 residential services across the East Midlands.
Junaid Haroon, corporate partner at Mills & Reeve in the Midlands, added: “The Midlands is a robust regional economy, with ambitious and high potential businesses at the heart of its success.
“Strategic growth is a clear priority from both a political and business perspective, with significant investment being committed to the region. By creating the right environment for future growth, the region will continue to attract investment from both domestic and international investors looking to scale at pace through M&A.”
