Tees transaction market is bubbling after unsettling five years
FINANCE
Deal-makers - Mike Williams ( left ) and Lee Humble of Azets Corporate Finance .
DEAL OR
NO DEAL ?
PICTURE : TOM BANKS
Tees transaction market is bubbling after unsettling five years
Deal markets have seen significant swings over the last five years – with Covid , then a post-Covid bounce , inflation , global conflict and the obvious interest rate hikes all significantly impacting appetite to transact . Teesside has been no different . But as we enter the summer of 2024 , a calming of the storm appears to have settled some nerves , with business owners and management teams now feeling , can we say , more optimistic about the prospect of pursuing a sale , purchase or capital raise .
The political backdrop and impending consequences are as yet unknown but whatever happens , the UK economy needs a boost and the encouragement and facilitation of entrepreneurship will hopefully be front and centre of any political campaign and subsequent policy .
In the face of the headwinds , and a few tailwinds , Azets Corporate Finance has itself grown significantly , with its national deal team ranking as the fifth most active in the UK and consistently the one of the most prolific across Teesside and the broader North-East .
Last year saw the teams transacting every other day , with notable deals in Teesside including : > The sale of EnAppSys to The Riverside
Co , backed by Riverside Capital ; > The sale of Cambridge Research
Biochemicals to Biosynth Carbosynth , backed by KKR and Ampersand Capital
> The sale of RS Industrial Services ( North East ) to Foresight Group . Led by Lee Humble , based in the North- East , and supported by emerging talent which includes Mike Williams trading out of Wynyard , the team continues to invest and innovate its offering with recent hires and investment into cutting-edge data analytics , data visualisation and incorporation of automation supporting their clientele , including a growing number of venture capital and private equity houses showing interest in the region .
“ The world changes so quickly and the demands and expectations of businesses has moved substantially in recent times ,” says Lee .
“ And we are keen to provide a leading solution , no matter the question , conundrum or issue our clients face .
“ All businesses use a degree of technology within their business , and we find it essential that we understand the dynamics and links between a range of data sources – with our enhanced offering seeing great success in the build-up to any form of transactional activity .
“ Being able to convey how you are trading , what the outlook truly is and where your risks sit will make a deal a lot easier and quicker , with this often resulting in cost savings for our clients and also allowing us to improve business valuations as a consequence .
“ Teesside is a fantastic market for us to base ourselves and develop from , with a booming undercurrent of business growth , strong local leadership in both the public and private sector , and a keen eye and intent to use cutting technology .
“ The area ’ s freeport status and leading higher education provision will inevitably see new spin outs and expansion , with our teams keen to support as many as possible .
“ Linked to our expanding accountancy and wealth management business , we are immensely excited about what the remainder of 2024 will bring and the high level of deal activity we are currently working on .
“ Once again , Azets was headline sponsor of the VelociTees Awards , celebrating the region ’ s fastest growing businesses , and again will be category sponsors of the Tees Tech Awards – which tends to be a great barometer of movement and opportunity in our region .
“ Business owners in the region should look forward with enthusiasm and consider all options as they ponder their business plans for the remainder of the year and beyond .”
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