2013 has been a landmark year for leading independent corporate finance house Clearwater Corporate Finance, completing 28 deals with a total value of over £750million – more than a 50 per cent increase on 2012.
The 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 leading 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 NASDAQ-listed Life Technologies from Unilever Ventures; and
- The private equity backed MBOs of Angus Fire, Rimor and Playnation.
Phil Burns, managing partner at Clearwater Corporate Finance, said: « 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%), pointing to increased activity from this industry.
The firm’s international focus continues to mature with eight cross-border transactions 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.
Other key achievements for the firm in 2013 include:
- The inaugural Cloudex Awards, following Clearwater’s search for the top 20 independent cloud computing companies;
- Winner of Acquisition International Finance’s Technology Focused Corporate Finance Firm Award;
- Further expansion of the business, with 10 new starters across all four offices in Manchester, Birmingham, Nottingham and London; and
- Five wins at the various regional Insider Dealmakers Awards including Deal of the Year, Corporate Finance Advisory Team of the Year and the Editor’s Award for all-round contribution.