Addleshaw Goddard's Manchester Corporate and Banking teams have announced a strong 2017 having advised on circa 50 deals with a cumulative value of over £5bn.
Ranked as one of the most active legal advisers in the local market by Experian & the legal directories, the teams continue to increase fee income year-on-year advising on high-profile regional and national transactions with key highlights including;
- advising leading regional businesses on deals such as; Sumo Group's £145m IPO; the sale of the entire issued share capital of SPS to Polyconcept; Boohoo's £130m accelerated bookbuild fundraising; B&M's £152m acquisition of Heron Foods; Speedy's acquisitions of Prolif Access Limited & Platform Sales & Hire Limited; and Norcros £60m acquisition of Merlyn Industries;
- continuing to dominate the NW Private Equity market advising the majority of the region's existing and new PE entrants on deals including; Inflexion's £150m minority investment into Radius, NorthEdge's sale of shares in Ramsdens; Endless' buyout of Antler from LDC; Foresight's investment into Mowgli Street Food; LDC's exit from The Creative Engagement Group; Ardenton Capital's acquisition of Corbetts the Galvanisers and Phoenix's sale of Key Retirement Group;
- advising on a string of high value local market financing deals (15 deals with a value of over £100m, including one deal of over half a billion and more than 8 deals with a value of £200m) for key regional businesses including; The Hut Group's £515m revolving credit facility; advising Tosca Debt Capital in connection with a second lien term loan to Verna Group; the refinancing of Dechra's £235m revolving credit facility; advising Santander on the refinance of Gusto Restaurants; advising Clydesdale Bank on loan facilities in connection with the management buyout of biscuit manufacturer Hill Biscuits and the largest NW ABL deal of the year – advising RBS Invoice Finance on its £50m ABL facility to Halewood International;
- advising on high-profile national mandates including the sale of Millarworld to Netflix – their first global acquisition; and
- adding major new clients BASF, Tata Chemicals, Dixons Carphone, Tosca Debt Capital, Dechra Pharmaceuticals, Park Group and Car Finance 247 to its client roster.
Paul Medlicott, Corporate Partner at Addleshaw Goddard stated:" Amid economic uncertainty the NW deals market has remained not only resilient but buoyant. Despite lingering Brexit uncertainties, the pipeline is strong and the teams (which are the largest corporate and banking team in Manchester) have been really busy and we continue to invest in it – including six new starters in six weeks."