PwC’s Midlands deals team has completed three deals in the space of a week.
The trio of deals were the sales of MIRA to HORIBA and Mark Group to SunEdison, as well as advising Prodrive Holdings on a £6 million growth capital investment by BGF (Business Growth Fund) in Prodrive Composites.
The completions came in the wake of 25 M&A transactions over the last 12 months, worth over £3.3billion, including advising on the sale of Center Parcs to Brookfield, the sale of Riviera Travel to Phoenix Equity Partners, and IMI’s sale of Eley and acquisition of Bopp and Reuther.
Matt Waddell, partner and head of PwC’s deals business in the Midlands, said: “We are immensely proud to have achieved these outstanding results for our clients, and each of these deals demonstrates our absolute commitment and ability to deliver.
“We have supported both long-established and new clients through a number of very successful transactions during the last 12 months, with activity increasing during 2015.
“As a firm, we have made a significant investment to develop a hub of industrial sector expertise in the Midlands, recognising the volume of specialist industrial companies in this region.”
Neil Sumner, director in corporate finance, who headed-up the PwC corporate finance team on two of these deals, said:
“The industrial sector is thriving in the Midlands, and it is a privilege to support these businesses in their continued growth.
“The PwC Midlands deals team acted as lead corporate finance advisors to MIRA and to the Mark Group, and these sales will enable both companies to continue to provide market leading products and services in their sectors.
“Prodrive has developed strong relationships with leading UK automotive players and has recently secured new contracts to support its future growth. The £6 million BGF investment in Prodrive Composites will enable the company to pursue its plans to invest in technologies to continue to be a leading player in this market.”