How did you get into corporate finance?
I graduated from the University of Warwick and joined EY in Liverpool on its audit graduate programme in September 2011. During my training, I expressed an interest in – and was subsequently successful in securing – a secondment to the corporate finance team in Manchester. While there, I was offered a permanent position and finished my training contract in corporate finance.
What was the first deal you worked on?
It was the sale of Ansell Lighting, a Warrington-based business, to Tokyo-listed Endo Lighting Corporation, for £38m. I actually originated it, through the father of an old school friend who was acting as adviser to Ansell Lighting. The company had already done a beauty parade, but I managed to convince him to let us pitch and showcase the value we could add.
I learned at this early stage that although all the financials might work and a deal makes transactional sense, there are other key factors at play, such as the desire to grow the business, opportunities and synergies for sourcing and supply, and the roles of the shareholders going forward.
What’s your role now?
In October 2021, I became a director in the Manchester M&A team covering the North of England, working on buy-side and sell-side transactions. I’m involved across the piece, from origination to pitching to completion, often working with a partner and then leading the team below me. The last deal I was involved with – which I jointly led with another director – was securing investment for Distology, a Manchester-based cyber-security distributor, from NorthEdge Capital. It was a competitive deal with national interest, as it’s a very hot sector.
Do you prefer working for vendor or acquirer?
Sell-side often gives me the chance to work more closely with entrepreneurs over longer periods of time – getting the equity story ready and finding their magic number, and ultimately the right home for their business. Being able to add that is a little more rewarding, as the dynamics are different on the buy-side.
I enjoy working with vendors, as I grew up around entrepreneurs. My parents set up their own businesses and sold to trade and private equity, so I appreciate the hard work, the heartache and the challenges overcome to get a business to a stage of realising that value. For every client I work with, I really want to get them the best result, the best deal.
What are the main benefits of staying with EY?
I value highly the focus EY has on its people and its purpose. If you find the right home and are provided with diverse opportunities, there’s no reason to move on. I’ve been driven and have pushed hard, which has helped me progress quite quickly.
I wanted to get involved with a range of projects to accelerate my experience and development as fast as possible, which helped build my internal network and profile, whereas if I’d moved, I would have had to spend additional time building trust and my internal CV. At EY, I have a partner sponsor who helps in making sure I get the right opportunities and stretch myself. Having a formal structure and regular focused conversations makes that progression easier.
And what about the future?
We’ve been investing heavily and expanding the team at all levels, including two new partners. We have worked on some of the most notable deals in the region, which have received national and international interest – most recently the nursery group Kids Planet and global payments company CMSPI. We want to keep that momentum.
COVID-19 has made people reflect on what’s important to them. They are thinking about whether to sell up, retire or pass down to family. People are also more aware of the importance of being prepared for a process. I’m in a thriving industry, with a great team and I want to remain part of it for a long time. It’s fair to say that I’m excited about the future.