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Altium breaks the GBP9bn mark

International investment bank Altium has rounded off another active year, completing over 50 deals and pushing the total deal value for the firm in the last three years past GBP9bn.

In the UK, the firm has seen exceptional levels of growth, with deal values up 94 per cent in 2014. Notable transactions from the period include The Riverside Company buying a majority stake in specialist accountancy firm Brookson and the sale of Scientific Analysis Laboratories (SAL) to the newly formed Concept Life Sciences, which is backed by Equistone. Most recently, Altium advised on the GBP303.7m takeover of Italian restaurant chain Prezzo by global private equity fund TPG.
 
As well as its UK offices, Altium operates from 16 locations worldwide, with eight in Europe. With over 50 per cent of the firm’s deals having cross-border involvement, Altium has also completed a number of significant deals internationally this year. These include the sale of Swiss luxury watchmaker Ulysse Nardin to Kering, the Paris-based lifestyle group which owns Gucci and Alexander McQueen, the sale of online printing business Pixartprinting to US trade buyer Vistaprint and the sale of online clothing business, mytheresa.com to Neiman Marcus, the luxury group which owns Bergdorf Goodman.
 
Last year also saw Altium expand its service offering by hiring a senior debt team to cover the UK. Launched in September, the team completed an impressive four deals in their first four months, including raising the debt for the GBP130m public to private of Waterlogic plc.
 
Phil Adams, chief executive of Altium, says: “The group has performed exceptionally well over the past 12 months and it’s a great testament to our team that they have completed over 50 deals in that period. We have reshaped our UK business, focusing solely on M&A, and since taking that decision have achieved three years of considerable growth in revenue, profit, deal size and volume of deals. We have focused on sourcing deals directly and this has proved very successful, culminating in the GBP304 million sale of Prezzo plc last week.  
 
“Our international reach is critical and has helped us to complete a large number of cross-border transactions. A particular theme has been interest from US buyers in European assets and we have been able to find a large number of strategic buyers from the US in the last year, selling to GE, Neiman Marcus, TPG and Lockheed Martin.
 
“Although there are some economic headwinds on the horizon we have begun 2015 in very good shape and our pipeline is stronger than it was at the same time last year.”
 

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