Accountancy firm Grant Thornton reported a successful 2023 for its corporate finance team in Scotland, despite challenging market conditions.
The team, led by partner Neil McInnes, advised on 17 deals with a cumulative value of £363 million.
This includes four deals with cross-border involvement and 11 involving private equity.
Mr McInnes said: “We are delighted to report that 2023 was another strong year for the team.
“Whilst the market conditions have provided some challenge, it’s particularly pleasing to see the number of quality deals that were delivered – making 2023 our third-best ever year.”
‘Deep sector knowledge’
He added: “We believe our strong performance in the Scottish marketplace is down to our approach of blending deep sector knowledge with a strong regional presence.
“One of the team’s key strengths is its ability to build long-term relationships with clients on both buy and sell-side, positioning businesses well for sale or identifying strategic buyers wherever they might be in the world.”
Standout deals for Grant Thornton’s Scottish team last year included the sale of Glasgow-based Deans Civil Engineering to RSK, the £1 billion-plus revenue global group of environmental and engineering businesses.
Other highlights of 2023 for the Scotland deals team included Ancala Partners’ investment in Noventa Energy, a renewable energy company focused on novel wastewater-to-energy technology.
Wastewater Energy Transfer™ enables us to tap into large sanitary sewers buried deep below the ground in dense urban centres like @ the Museum of Bavarian history.
Supplying 560 kW of heating and 1,000 kW of cooling since 2018.
visit HUBER’s website at https://t.co/kDnXPe0SBF pic.twitter.com/U0tOgNY7OD
— Noventa Energy (@NoventaEnergy) March 16, 2023
Grant Thornton was also at the heart of a deal which saw Altier Capital-backed investment platform Halcyon acquire digital health data analytics firm FingerPrint Global.
And the accountancy firm helped trust deed specialist Harper McDermott transfer to employee ownership.
‘Strong’ deal pipeline in 2024
Mr McInnes added: “With a strong pipeline for 2024, the year is positioned well for another strong performance. We thank all our clients and work referrers for their continued support.”
Grant Thornton’s UK business employs more than 5,000 people, led by 200-plus partners. It is part of a global network employing 68,000 people in more than 140 countries.
In Scotland, the accountancy firm has offices in Aberdeen, Edinburgh and Glasgow.
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