Company acquisitions remain strong following EU referendum – PKF Francis Clark
Wednesday 27th July, 2016
The number of company acquisitions has remained strong following the EU referendum, according to Bridgwater Chamber of Commerce member PKF Francis Clark.
The firm has advised on a series of transactions since the vote, including Altitude Partners’ recent equity investment in semiconductor technology developer Moortec.
It also worked on the sale of Devon-based Jubb Consulting Engineers to its management buyout (MBO) team and the sale of Gillett’s (Callington) Ltd, which operates 63 Spar stores across Cornwall, Devon, Dorset, Somerset and Wiltshire, to an overseas purchaser.
Andrew Killick, head of corporate finance at PKF Francis Clark, said: “Although certain sectors such as property may have been affected, and some large private equity deals are being put on hold, we still have buyers interested in acquiring quality South and West based businesses and funders keen to support MBOs and the growth plans of local entrepreneurs.
“Looking ahead, the trading performance for many businesses in the region will continue to be largely unaffected in the short term, as existing orders and contracts continue to be fulfilled.
“One potential area of immediate concern is that property valuers may feel that the lack of demand for property transactions post the referendum means that valuations should be reduced.”
PKF Francis Clark, founded in 1919, operates from eight offices across Cornwall, Devon, Dorset, Hampshire, Somerset and Wiltshire. It has annual revenues of £3m and a team of more than 580 people and 59 partners.