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Corporate Financier

Analysis and insight from the Corporate Finance Faculty

April 2025

This month we look at co-investments and their deployment in the mid-market. EY’s Lucy McKelvey talks about her career and Andrew Frame of Grant Thornton discusses a complex trade sale. Plus: 3i’s €145m investment in WaterWipes, and why interest in M&A across the accountancy profession is so high.

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Long read: Private equity co-investment

Private equity co-investment arrangements come in many forms. There are benefits for all parties, enabling investors to manage risk and reduce their cost – but there are downsides, too. David Prosser looks at the options.
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News and views

Faculty news
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April 2025

AI in corporate finance; managing office politics; comment on the UK government’s proposed infrastructure strategy; and changes to the Middle East Panel.

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opinion
Jon Moulton ICAEW Corporate Financier
Jon Moulton on dealing with America

Jon Moulton admits that disruption can prove fruitful for dealmakers. But too much – as is being seen in the Trump administration – is another matter.

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brief encounter
head office TDR Capital-backed EG Group, the petrol station with convenience store operator co-founded by brothers Mohsin and Zuber Issa in Blackburn almost 25 years ago
From Bury to the Big Apple

From a single petrol station in 2001, Mohsin and Zuber Issa, with TDR Capital, have built EG Group into a global business with an estimated value of $13bn.

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Global investment and M&A

Trendwatch: PE targets accountancy firms

Private equity is targeting UK accountancy firms, attracted by potential for growth and reliable income streams. What deals have been done, and what does the future hold?
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Analysis: investment in numbers

Disruption on a grand scale may be the outlook for the world economy, but when we step back from the noise, what is the outlook for M&A and investment in the UK?
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Innovation and sustainable growth

Insight: ESG due diligence

ESG due diligence has evolved from a tick-box exercise focused on mitigating downside risk into a key lever for value creation that’s at the heart of deal processes.
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Insider dealing: 3i invests €145m in WaterWipes

WaterWipes were born of necessity and have become a new parent’s must-have. We look at the impact 3i’s investment will make.
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Future advisory professionals

career paths
Lucy McKelvey, associate director in EY's energy and infrastructure corporate finance team
New energy

Always learning is what drives Lucy McKelvey, associate director in EY’s energy and infrastructure corporate finance team.

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On my CV
Andrew Frame, corporate finance partner and head of education sector M&A at Grant Thornton
Training programme

Andrew Frame of Grant Thornton says finding the right deal structure to best position the company for growth is critical.

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Connections

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Corporate finance advisory

Promotions and those on the move in corporate finance advisory.

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Legal advisory

Who’s on the move or been promoted in legal advisory.

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Private equity

Recruitment and promotions in private equity.

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The archives

Browse Corporate Financier content from May 2025 and earlier.

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