press release
Browne Jacobson continues to push through major deals in 2009
15 July 2009
Deal makers at Browne Jacobson have demonstrated that it’s not all
doom and gloom in the region’s corporate finance market by
completing a number of high profile deals in the first six months
of 2009.
The firm’s specialist banking team provides advice on property
finance, acquisitions, mergers and corporate restructuring. Despite
the economic recession the team have completed over 20 deals across
the region in the last 12 months.
Amongst the deals it has advised on in the first half of 2009
include the £17million management buy-out of Cranswick Pet &
Aquatics, acting for Yorkshire Bank on its £22m facilities for the
funding of a £50m private equity-backed acquisition, The Royal Bank
of Scotland on the buyout of Performance Windows and acquisition of
timberwindows.com and Lloyds TSB Commercial Finance on its
supporting of the sale of the DBC Foodservice Group, by its
continuing provision of a £20m receivables facility.
Paul Ray, head of banking at Browne Jacobson, comments: “This is
a great result for our specialist banking team which has continued
to put away deals in an incredibly challenging marketplace.
“Due to the current market conditions and cash flow constraints
facing businesses, we anticipate increased levels of activity over
the next year as more businesses look to restructure borrowings or
refinance and some businesses take advantage of acquisition
opportunities.
“There’s no knowing when the economy will pick up, so
organisations must be realistic with their business strategies,
ensuring they reflect the unprecedented economic conditions we are
facing.”
The firm has also continued to invest in the banking team with
the addition of Faizal Bhana who joined Browne Jacobson in 2008 to
help further strengthen the firm’s expertise and knowledge.
save to PDF