Caution on company deals to ease after General Election, says Grant Thornton corporate finance boss

“Despite the political and economic uncertainty that has been a prevalent for some time, deals have continued to be completed in the mid-market,” he said.

“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.”

His comments come as Grant Thornton revealed its corporate finance team in the North has advised on four deals collectively worth more than £180m in the first six months of the year.

The financial services giant said its northern division had started 2024 successfully.

Over the first six months of 2024, the team advised on four deals, equating to over £181 million in value.

In the most significant deal, the team led by Mr Terry advised the shareholders of provider of heating, energy saving and renewable solutions Next Energy on its significant investment from FTSE 100 business DCC plc.

Based in Merseyside, Next Energy has become one of the UK’s fastest growing renewable energy installers, supporting local authorities and housing associations with reducing energy costs, improving efficiency and rolling out renewable energy measures in social housing stock.

Grant Thornton also advised on the Foresight-backed management buyout (MBO) of Crewe-based Trak Global Security Solutions, the stolen vehicle recovery technology company, as well as Surrey-based Daikin’s acquisition of Robert Heath Heating in January.

Grant Thornton also recently advised Salford-based Excalon Holdings as it was acquired by Leeds-headquartered listed engineering services company Renew Holdings, in a strategic deal which has allowed the buyer to expand into the electricity transmission and distribution market.

Over the last six months, the Northern Corporate Finance team has also seen four new recruits, with Abi Godrey joining the team as Director to lead the national Life Sciences and Pharmaceuticals sector from a Northern base, as well as Tilly Das-Gupta and Jamie Lannin being appointed as Assistant Managers, and Kate Ingram as Associate Director.

It follows Matt Bryden-Smith and Jim Whittaker being made partners earlier in the year.