The firm heads into next year with a record order book, including more than 30 active projects averaging in excess of £30million each.The transaction value of the order book is 50% higher than at the same time last year.
Clearwater has enjoyed a successful 2012, completing 27 deals with a total value of £530million, including a strong end to the year, with nine deals announced since November.
Key deals advised on by Clearwater during 2012 include:
- The investment in Pizza Hut UK by private equity group Rutland Partners;
- The sale of insurance support services business Direct Group to US based Ryan Specialty Group;
- The sale of home improvement brand Everest to Better Capital; and
- The acquisition of IT solutions business Capula for Dutch based by Imtech.
The firm has also established a dedicated China Desk in response to a predicted rise in M&A activity between western economies and Asia.
Mike Reeves said: “Our clients need to know we can deliver buyers and finance for their business from across the globe, so developing our sector teams to join up our knowledge and boardroom access was key to this.
“Our approach appears to already be yielding results, with more than half of our M&A transactions now being cross-border.”
Private equity continues to be a key source of deal flow for Clearwater, accounting for 14 deals, or more than half of the firm’s total transactions.
Other key developments for the firm this year include:
- The broadening of Clearwater’s sector offering with the creation of dedicated real estate group;
- The expansion of the debt advisory practice with the appointment of Manchester-based Mark Taylor as the second partner in the team; and
- The opening of a new, larger office in Nottingham to cement the firm’s offering in the city.
Phil Burns, managing partner, said: “After an extremely busy 2012, we are pleased to be moving into 2013 with our best ever order book.
“We were particularly proud of our work on the sale of Midlands-based Phytone to US buyer FMC Corporation and the secondary management buyout of Manchester-based debt management firm Harrington Brooks, backed by RJD Partners.
The figures reflect our confidence for 2013 and a reward for our investment in sector expertise and international coverage.”