UK PLC for Sale

Roll up, roll up, everything must go. UK PLC is up for sale. With the number of recent UK takeovers, you could be forgiven for thinking that the UK has become the focus of bargain hunting for overseas buyers. With the Brexit-inspired collapse in sterling, international investors and cash rich private equity houses are buying up UK plc.

Over the summer we have seen Greene King succumb to a £2.7 billion bid from Li Ka-Shing, following on from a spate of takeovers including Saputo (Canada) acquiring Dairy Crest and Lego/Blackstone taking out Merlin Entertainments. Cobham is now under attack from a US based PE house and every week there seems to be M&A action in the PLC arena.

Since the referendum, the pound has fallen 18% against the dollar and the public markets are now a huge opportunity for cash rich buyers, particularly private equity houses who have to do deals to make money.

It is interesting that the main activity is in the public markets rather than the unquoted sector, which remains subdued pending some direction from Parliament.  The Bishopsgate team have a number of deals closing prior to Xmas, but they also have a number of mandates “on hold” pending some clarity. The Bishop expects deal activity to return to normal in Q1 2020 but we all have one eye on Westminster. 

Nic Hanlon joins Bishopsgate Corporate Finance to head up its Debt Advisory Division

Following a successful career in banking and establishing Hanlon Corporate Advisory where he supports SMEs, Mid Corporate clients and Management Teams, Nic now brings his skills to Bishopsgate Corporate Finance to head up its Debt Advisory Division. 

 James McBain Allan, Partner at Bishopsgate Corporate Finance comments:

“Following a record-breaking year and a move to fantastic new offices, we are delighted to increase our corporate finance deal making team and welcome Nic on board”.

 Nic Hanlon comments:

“I am delighted to be joining forces with this outstanding Corporate Finance boutique and look forward to working with James and the dynamic Bishopsgate team on high profile transactions. 

With an increasing flow of referrals from my network it was important to be able to deliver a wider breadth of advisory services. Bishopsgate Corporate Finance is the perfect partner to do just that”. 

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James McBain Allan of Stamford based M&A boutique, Bishopsgate, is awarded a prestigious dealmaking award

At the East Midlands Dealmakers Awards 2019, held on Thursday night in Nottingham, James received the Young Dealmaker of the Year award.  The event brings together the entire region’s M&A firms, banks, funders and private equity houses to celebrate the year’s major dealing making teams. 

James McBain Allan, who has recently been promoted to Partner at Bishopsgate Corporate Finance, was delighted to gain the award, and has led on several major deals this year, including vet group Linnaeus’ acquisition of rival Davies, the buyout of Virgin Experience Days, and BCF's investment in children’s holiday firm Barracudas.

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