Specialist business advisory firm FRP has reported a record 12 months during which its corporate finance and debt advisory team advised on 81 transactions with a combined enterprise value of GBP1.9 billion.
The news follows a record period of growth for the firm, which has seen its corporate finance and debt advisory team treble in size following a number of strategic acquisitions and senior appointments. The acquisition of JDC in September 2020 and Spectrum Corporate Finance in March 2021 added further expertise, sector knowledge and capability to the team. Whilst a series of senior appointments added strength and depth across FRP’s nationwide office network, bringing the combined corporate finance and debt advisory team to 50 fee earners, including 19 partners.
To mark the team’s growth, FRP has now launched a new brand – FRP Corporate Finance – to bring together its strategic support and advice for owner-managed businesses and their funders across the UK mid-market. This includes supporting clients with acquisition finance, capital raising and refinancing projects.
Clive Hatchard, partner at FRP Corporate Finance, says: “The year started with a major boost to mid-market M&A activity, driven by concerns over tax rises in the March budget which led to record levels of transactions in the first quarter of 2021. Despite this early, tax-driven activity we have continued to experience an exceptionally strong M&A market across all aspects of disposals, debt advisory and buyside advice. This real uptick in activity is being supported by many private equity investors seeking to deploy pent-up capital to support businesses as they began to bounce back post-pandemic, as well as corporate balance sheets and debt funds with high levels of liquidity.
“This level of capital is continuing to drive deal activity and as FRP Corporate Finance we’re now in an even stronger position to support clients with their strategic ambitions, as well as when challenges arise, and I’m looking forward to working with the rest of the team as we take our new brand to market.”
Jeremy French, chief operating officer at FRP, says: “As the economy continues to rebound following a turbulent 18 months, we recognise the importance of being able to support businesses across the mid-market at every point of their corporate lifecycle. To ensure we can continue to do this with the highest level of quality and client service, we’ve continued to invest heavily in our corporate finance and debt advisory teams, not only through acquisitions, but through the development of our people and teams right across the UK. Bringing our experts together under FRP Corporate Finance is an exciting development and places us in a strong position to support clients and drive future growth.”
Notable deals for the firm over the last 12 months include advising US-based Brady Corporation on its acquisition of Magicard in a GBP42m deal; the sale of Vehicle Replacement Group (VRG) to professional services and technology business Davies; supporting Apposite Capital on its successful acquisition of Swiss firm 1MED; advising horticultural solutions and products specialist Fargro on their successful management buyout; and advising on a deal that saw a global social media and influencer marketing agency, The Goat Agency, secure a minority investment from Inflexion.
