Clearwater Corporate Finance completed 28 deals with a total value of over GBP750m in 2013 – more than a 50 per cent increase on 2012.
The Manchester-based firm celebrated its 10th anniversary this year and all of the sector groups have seen significant improvements in business levels.
Key deals advised on by Clearwater during 2013 include:
• The sale of Gill Marine, a technical clothing brand, to YFM Equity Partners;
• The refinancing of holiday park business Park Resorts and the subsequent acquisition of South Lakeland Parks;
• LDC’s private equity investment in clothing brand Joules;
• The sale of software business CSC to US-based Trimble Navigation;
• The sale of Dutch biotechnology company BAC BV to NAasdaq-listed Life Technologies from Unilever Ventures; and
• The private equity backed MBOs of Angus Fire, Rimor and Playnation.
Mike Reeves, managing partner at Clearwater Corporate Finance, says: “We are delighted with our performance in 2013. Our activity levels show us increasing our market share but also benefitting from a more general improvement in deal appetite in the market. We expect this trend to continue in 2014.”
Private equity continues to be a key source of deal flow for Clearwater with 18 completed transactions (64 per cent), pointing to increased activity from this industry.
The firm’s international focus continues to mature with eight cross-border transactions in 2013. IMAP, of which Clearwater is the UK partner, expects to close over 200 deals globally in 2013.
Clearwater’s debt advisory practice was involved in 10 transactions, including both new debt for fresh private equity investments and a number of innovative refinancing arrangements for both corporate and private equity backed clients.