Increasing demand in the corporate finance market has led to significant growth in the Mazars’ Midlands transaction services team.
Julian Clough joined the team in October last year after many years of leading transaction services teams across the Midlands. He is now followed by Adam Foster.
He arrives as a manager and, like a number of other colleagues, was formerly with Baker Tilly and RSM Tenon.
Julian Clough, said: “It was always our intention to grow our transaction services team and build on the excellent reputation established by David Preston and the team in Birmingham. Adam’s appointment has come at a very busy time for us and gives us a truly Midlands wide coverage’
“We have been busy and we have seen a real change in the market over the last nine months. We are now seeing the range of funding options with banks, private equity and increasingly capital markets being active. This adds to work for corporate buyers who continue to look for quality businesses across many sectors.”
Mr Clough points to a change in type of transaction.
“We are seeing real investment going into businesses such as growth capital deals for Palmer Hargreaves and TCL Holdings, strong and forward looking management teams investing in the likes of CWE, Servosteel Holdings and Team Consulting. These are very positive transactions, renewing the businesses and providing impetus for growth.
“Many transactions have been delayed in recent years but clearly improving economic conditions and a resultant increase in confidence is driving transactional activity, a degree of realism has come back into valuations since the downturn and vendors are prepared to entertain deferred consideration which is all helping to oil the wheels,” he said.
“Its is natural to build our team. We have a tried and tested approach based on highly experienced professionals getting closely involved in the process. This is well received and we are delighted to be joined by someone of Adam’s experience. We will continue to grow the team.”
The recruitment follows closely on growth in the wider corporate finance team across the Midlands and Milton Keynes which now draws on the expertise of five partners and 15 professional staff. The team services clients out of Mazars’ offices in Birmingham, Milton Keynes, Nottingham, and the new Leicester office which had its formal opening in May.