Carve-outs are an important part of the global mergers and acquisitions (M&A) market, but they can often be complicated to complete. Here are some of the core considerations when pursuing a successful carve-out.
From Brighton to Bournemouth and beyond, the lure of the south coast encompasses beaches, nightlife and so much more. Rachel Willcox discovers an advisory community holding firm against a national backdrop of challenged activity.
Boasting solid commercial fundamentals, UK infrastructure M&A – traditionally the preserve of large-cap funds – has piqued mid-market dealmakers’ attention. Nicholas Neveling looks at the innovative investment strategies firms are adopting to get involved in the sector.
The FCA and the Takeover Panel have introduced changes to regulations around UK capital markets over the last year aimed at providing easier, faster and
more efficient access to capital. Will these changes alone significantly change the prospects for UK capital markets?
Challenges come thick and fast for the hospitality sector – so why has a Canadian-Indian insurance billionaire snapped up a UK restaurant group? Jason Sinclair reports on MW Eat’s global plans.
Flush with money to invest, private equity firms are increasingly seeking out targets on the public markets. David Prosser asks whether private ownership is a logical plot development for many listed companies.
Non-AI software companies led a wave of exits, while AI firms dominated a strong year for first-time investments. But keep one eye on bankruptcies too, warns Beauhurst’s Henry Whorwood
The impact of technology on the workforce and continued consolidation are the key factors shaping the future of mid-tier accountancy firms in the UK, confirms ICAEW research.
Flourishing e-commerce led to a boom in pandemic-era logistics, that’s since been tempered by insular policy making and shortening supply chains. David Prosser asks if the sector will be going places this year.
Off the radar for many deal-makers, the South West boasts M&A stats that buck stuttering national trends. Rachel Willcox investigates what makes the region tick and whether its strong growth can be maintained.
After a four-year hold period, BGF sold specialist windows manufacturer Victorian Sliders for £60m at the end of last year. Jason Sinclair reports on how its Swedish acquirer could open new markets for the south-west Wales business.
As wealthy family businesses look to secure their legacies for future generations, family office investment vehicles are becoming a growing source of deals for advisers. Jo Russell finds out what makes them a different breed of investor.
It started as a charitable organisation, went private in 1999, became PE-owned in 2004, listed in 2014, and reverted to PE ownership in 2021. Is The AA now heading to a new home?
LDC’s acquisition of building materials supplier ARC is all about guiding the company through the next stage of its growth journey. David Prosser investigates what the future holds for the company – and why Newable decided the time was right to dilute its stake.
With gold and silver prices at an all-time high, and critical minerals such as lithium, copper and rare earths at the core of electrification, computing and defence systems, mining M&A is flying high.
Stark stats for deals in the North East belie a region brimming with optimism that's attracting private equity firms. But government investment in infrastructure is sorely needed, says Nicholas Neveling.
With activist investors pushing corporates for more focus, and falling interest rates making valuations more appealing to buyers, carve-outs are firmly on the agenda. But the process is far from simple, says Jason Sinclair.
At 11 years old, the British Business Bank has a new strategic plan, more capital at its disposal, and a new statement of intent. Marc Mullen speaks to its first-ever chief investment officer, Leandros Kalisperas, about the bank’s renewed purpose.
Following substantial changes to the rules governing public-to-private transactions, ICAEW’s Corporate Finance Faculty has updated its guideline and is hosting an event with the Director General of the Takeover Panel.
One of private equity’s oldest recipes is to buy a platform for investments, then consolidate for an immediate uplift in the value of the acquisitions, says MarktoMarket’s Doug Lawson, and more and more firms are dining out on it.
Businesses that faltered during the pandemic have bounced back stronger than ever, and five years on new niches are opening up, says Nicholas Neveling.
Almost two decades on from the global financial crisis, Scotland’s big energy deals have signalled a return to form. With a strong pipeline of start-ups and high-quality mid-market businesses lined up for investment, it’s later-stage capital that is in high demand. By Nicholas Neveling.
Amid tariff changes, reversals of changes, and stockmarket wobbles, Enfuse Group remained a standout investment target for Agathos. Nicholas Neveling reports.
HR due diligence is rapidly becoming a vital element of deal due diligence, as buyers seek out more accurate valuations. As its scope broadens, David Prosser looks at how the value of – and risk associated with – a workforce is quantified.
Part two of the Financial Technology Ventures II v ETFS Capital review dives into the valuation of a 9.9% Nasdaq holding, the limits of option model DLOMs and why the court ultimately split the difference between blockage discounts and influence premiums – adding another key precedent to the growing body of equitable value case law.
The Financial Technology Ventures II v ETFS Capital decision offers a sharp reminder of how DLOC, DLOM and equitable value can radically reshape minority valuations – reviving debates on control premiums and exposing just how far methodologies can pull valuations apart.
For rehab business Providence Projects, it was all about finding the right buyer and the right price, says Oliver Aspinall, corporate finance manager at S&W.
Investing in a business is just the beginning of the private equity process. Nicholas Neveling examines how non-executive directors and observers help management teams drive growth through to a successful exit.
Management incentive plans (MIPs) can be modelled to three decimal places, and breeze through HMRC approval, but if CFOs don’t trust them and the management team don’t believe in them, they’re doomed from the start. Burges Salmon partner Nigel Watson and Francis Moore of Wyvern Partners, explain how to plan to succeed.
An independent business for 200 years, Hill & Smith, a provider of solutions to the infrastructure and built environment sectors, received the much-coveted corporate development award at last year’s Annual Reception. Marc Mullen talks to Joel Whitehouse, group head of corporate development at Hill & Smith, about its M&A strategy.
While the economy may not be perfect, there are positive signs that we’ll see more public company and private equity activity in 2026, says David Petrie, ICAEW’s Head of Corporate Finance.
From nursery buy-and-builds to private school consolidation and university mergers, each education sub-sector is responding to its own specific challenges. Jason Sinclair looks at what’s driving activity in this busy UK market.
The breakneck speed of AI development is disrupting the deal-making world. What are the guardrails and how can terms of engagement hope to hit this moving target? Jo Russell reports.
Jon Moulton sees the private equity and listed worlds converging, creating conflicts and risks, but no shortage of opportunity for corporate financiers.
The Corporate Finance Faculty’s Annual Reception – one of the biggest in-person events in the ICAEW’s calendar – took place at Goldsmiths’ Hall in the heart of the City of London last month. More than 200 guests were greeted by a champagne reception, accompanied by a string quartet, at the Grade I-listed 190-year-old hall.
A new guideline from ICAEW’s Corporate Finance Faculty focuses on the cultural and people-related risks and opportunities that need to be considered in a transaction.
The healthcare sector has been busy this past decade. Private equity, corporates, and international investors have all been active – each responding to unique market drivers, regulatory challenges, and evolving public sentiment. Jason Sinclair looks at a resilient M&A sector.
Two-and-a-half centuries ago, Liverpool was a driving force behind the industrial revolution; now, it’s at the heart of a new movement. Jo Russell looks at how the city and wider region is spearheading the life sciences and technology revolution.
