What kind of year will this be for mergers and acquisitions in the north and north-east?
Early days yet, but what I can say us is there have been plenty of deals, or in some cases near deals, for The Press and Journal to report in 2022 and early 2023.
Here are just some of the those I found during a look back over our business coverage.
Starting with the first couple of months of 2023, we revealed how a sibling of the billionaire Issa brothers was poised to buy the Bon Accord shopping centre in Aberdeen from administrators for less than £10 million.
AAB Wealth announced its acquisition of a smaller financial planning business, Kilkee Financial Services, in its home city of Aberdeen.
And Aberdeenshire firm PMC Property Management & Lettings was acquired by managing director Neale Bisset and finance director Annette Hudson.
Bosses at multinational energy services firm Expro said its takeover of Aberdeen company DeltaTek Global was a “platform for growth”.
Helicopters for sale
CHC announced it was selling the former Babcock North Sea helicopter business to South African firm Ultimate Aviation Group. The UK’s competition watchdog had ordered the sale, arguing CHC’s acquisition of the business in 2021 would “significantly reduce rivalry” in the North Sea.
So, January and February 2023 were lively on the deal front – and it was the same at the start of last year.
The first month of 2022 saw Keenan Recycling, of Aberdeen, snap up part of Northamptonshire firm JNL Waste Services.
Edinburgh company Tweed Wealth Management acquired Inverness firm John Home Wealth Management.
And nearly 50 north-east jobs were saved and about the same number expected to be created after engineering consultancy Optimus (Aberdeen) was acquired out of administration by fellow Granite City firm PD&MS Group.
Serial entrepreneurs Doug Duguid and Michael Buchan launched a new recruitment venture though their acquisition of Granite Recruitment, based in Aberdeen and Norwich, for a “high six-figure sum”.
Fraserburgh family sells three wind turbines for almost £3.3m
In February 2022 we reported how the family behind G & J Jack Seafoods, of Fraserburgh, had sold a three-turbine wind farm, near Stonehaven, to Parkmead Group for nearly £3.3m in cash.
AssetCo, the asset management vehicle of Aberdeen entrepreneur Martin Gilbert, swooped to buy Edinburgh company Revera in a cash and shares deal worth £2.8m.
And Beach Boulevard Retail Park in Aberdeen changed hands in a deal believed to be worth £60m.
Meanwhile, north-east energy service company Tendeka was snapped up by Saudi Arabian oilfield services company Taqa.
And Inverness planning and design firm GH Johnston Building Consultants was acquired by Glasgow-based Mabbett & Associates.
Last March saw Moray firm Lossie Seafoods add iconic Arbroath smokies to its range after buying Angus company RR Spink and Sons out of administration, saving 249 jobs.
Oilfield services giant Baker Hughes signed a deal to acquire wells specialist Altus Intervention.
And Inverness haulage company Seafield Park Transport bolstered its fleet and workforce by more than one-third after buying two rivals, R&F Campbell and John H Roberts.
Indian steel magnate Lakshmi Mittal became the owner of more than one-third of John Lawrie Metals (JLM), thanks to his family’s large stake in ArcelorMittal and its deal to buy Aberdeen-based JLM.
France’s Altrad snapped up Aberdeen crane hire and energy services company Sparrows Group.
Controversial Cambo changes hands
In April it was announced an oilfield at the centre of a controversy over the UK’s energy supply, Cambo, was to be taken over by Ithaca Energy as part of its £1.1 billion deal to buy Siccar Point.
Public relations agency Muckle Media bought Taste Communications Scotland, founded by TV presenter Stephen Jardine, in a “six-figure” deal.
And optical chain Duncan and Todd added 13 staff with the acquisition of branches of the Spectacle Company in Stonehaven and Montrose.
Meanwhile, Highland Coast Hotels acquired the Plockton Inn and its adjoining seafood restaurant.
And the Rox Hotel in Aberdeen was acquired by Thai company Compass Hospitality.
May was a particularly busy month, with Aberdeen-based transport giant FirstGroup revealing its board was mulling a potential £1.2bn-plus takeover approach from I Squared Capital Advisors.
Highland entrepreneur Roy MacGregor acquired one of the region’s largest building firms, WGC (Scotland), through his Inverness-based investment group, GEG Capital.
And investment specialist Scott James & Associates, of Aberdeen, acquired another St James’s Place practice in the north-east.
Accountancy and business services firm AAB crossed the Irish Sea in its latest expansion, snapping up FPM.
Carlton Bingo, Aubin Group, Pipeline Technique and Springfield Properties
June was even busier, with Inverness-headquartered Carlton Bingo sold to its 209 staff across 10 Scottish venues, making it the country’s largest employee-owned business.
North-east energy services firm Aubin Group came under Italian ownership. Italmatch Chemicals swooped to buy it from shareholders including founder Paddy Collins and banking sector-backed investor BGF.
Aberdeenshire-based Pipeline Technique acquired the oil and gas business of Stanley Black and Decker in a deal aimed at creating a “global leader”.
French drink giant Pernod Ricard announced it was selling its Tormore Scotch whisky brand and distillery to Elixir Distillers.
And FirstGroup rebuffed the £1.2bn-plus takeover approach from I Squared Capital Advisors, saying it “significantly” undervalued its operations and future prospects.
Elsewhere, a pair of caravan parks in Moray that were on the market for £9m were purchased by fast-growing Park Holidays. Lossiemouth Bay and Burghead Beach caravan parks were previously owned by Christies Parks.
Motive Offshore at heart of multimillion-pound deal
July saw private equity firm H2 Equity Partners take an undisclosed stake in Aberdeenshire company Motive Offshore after replacing another investor in a multi-million-pound deal.
North-east flavoured water brand Macb came under new ownership through a takeover deal valuing the international business behind it at around £6.6bn. Macduff-based Macb is part of Refresco, which was acquired by US investor Kohlberg Kravis Roberts.
Bristol company Clifton Asset Management said it had acquired Burnett & Reid Wealth Management, of Aberdeen.
And Scotland’s oldest independent salmon producer was gobbled up by the world’s largest fish farmer. Wester Ross Fisheries, based in Ardmair, near Ullapool, is now owned by global industry giant Mowi.
Health, safety, environment and quality management and training consultancy Quensh Specialists, operating from bases in Ellon, Aberdeenshire, and Perth, Western Australia, grew its headcount by five after buying fellow north-east firm Involve HR.
Deals reported last August included accountancy and business services group AAB, of Aberdeen, swooping to buy West Sussex-based customs consultancy Charlton House and Irish business Think People Consulting.
International private equity house I Squared Capital Advisors walked away from its mooted takeover of FirstGroup.
And Brookfield, the owner of London’s Canary Wharf, was tipped to buy Union Square shopping centre in Aberdeen for £140m.
Hospitality deals struck
In September the Alexander Bain pub in Wick served its last pints as a JD Wetherspoon pub, following its sale to Inntuitive Group.
And Kenny Webster, the Scottish drink entrepreneur behind Isle of Skye Brewing Company and North Coast Brewing Company, moved into the licensed trade by buying a city centre pub, The Griffin, in Glasgow.
October deals included north-east businessman Niall Anderson selling his electrical and data communications firm, M&M Services, to Nucore Group.
Aberdeenshire-headquartered haulage firm Caledonian Logistics was taken over by English company Drac Logistics.
Aberdeen firm EnerQuip planned to create jobs following the “strategic acquisition” of Fife-based precision machining company Diamac Engineering.
Loganair puts itself up for sale
Airline Loganair announced it was up for sale and The Glenmorangie Company bought Islay Hotel in a multi-million-pound deal, planning to create a whisky “experience”.
Housebuilder Scotia Homes took over timber kit manufacturer Caledonia Homes in order to “to take more control of our supply chain”. Both firms have their headquarters in Ellon, Aberdeenshire.
And a 137-year old firm of quantity surveyors in Aberdeen, BDG Thomson Gray, came under new ownership via its sale to Hardies Property & Construction Consultants.
In November Aberdeen-headquartered law firm Ledingham Chalmers agreed to a “milestone” takeover of Inverness firm Anderson Shaw & Gilbert.
Aberdeen communications consultancy Aspect was aiming for significant expansion after acquiring a digital consultancy, Web Integrations, for a six-figure sum.
Japanese wind investment
And offshore energy services firm Innospection was acquired out of administration, saving all seven jobs. The Aberdeen business is now part of Sonomatic, a non-destructive testing and integrity services company based in Warrington, Cheshire.
The final month of 2022 saw Serica Energy announcing it was to buy fellow North Sea operator Tailwind Energy in a shares and cash deal worth £367m.
Newly launched Aberdeen company Elemental Energies completed a buyout of the Senergy Wells specialist business of consultancy Vysus Group.
Aberdeen-headquartered payroll firm Activpayroll acquired Malaysia-based Propay Partners, and FirstGroup cashed in £122m after completing the sale of all but two of its remaining Greyhound properties in the US.
Housebuilder off the market
Stewart Milne Group put efforts to sell the business on hold amid signs of a slowdown in the UK housing market.
And Aberdeenshire-based Ashtead Technology snapped up fellow north-east firm Hiretech – a “key supplier” – for £20m.
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