UK and Ireland law firm’s banking & finance team have announced they have broken through the £2 billion mark in respect of combined deal value for 2022.
The team, which is made up of 20 specialist banking & finance lawyers, also announced that despite obvious financial challenges in the economy including, inflation, rising interest rates and supply chain issues, in 2022, the team advised on various significant transactions across sectors including government, health, real estate, energy & infrastructure, retail & consumer, and tech. Deal highlights include advising:
Paul Ray, partner in the national banking & finance practice at Browne Jacobson, said: “2022 has certainly been a year of two halves for our banking & finance practice. Despite financial challenges in the economy including, inflation, rising interest rates and supply chain issues, we had a very strong start to the first half, advising on a host of complex transactions across a diverse range of sectors. Our deal volumes were up 10% year on year by the end of H2. The second half of the year has certainly been more turbulent, and we undoubtedly saw a sudden hit to confidence in the transactional market, thanks to the sudden rise in interest rates and political uncertainty following the mini-budget.
“But there are some real positives on the horizon for 2023. There continues to be no lack of liquidity particularly with debt funds and alternative debt providers having good appetite to fund transactions, and we expect asset-based lending to pick up. We are also seeing strong demand to fund businesses in key sectors (including tech, wealth management, infra and health) and we are seeing a significant amount of green finance now available, on attractive terms. We also sense that a degree of 2023 deal activity will be driven by the possibility/probability that Capital Gains Tax could increase after the next general election.
“Despite the challenging economic backdrop, we have maintained a good pipeline of activity in the latter half of 2022 and are witnessing early signs that the economy is stabilising. Deals have certainly been moving with slower momentum in H2 2022, but we do now see that the deal market is starting to pick up again and expecting it to continue to recover.
“We look forward to those Browne Jacobson banking deals “hitting the back of the net” again as we begin the 2023 season… “bring it on”!”
Browne Jacobson’s banking & finance practice operates from the firm’s Birmingham, Manchester and Nottingham offices and is ranked Tier 1 for the East Midlands in independent legal directory, Legal 500. In addition to the various banks and other funders that the team acts for, it also supports a high number of UK and international corporates of all sizes, including high growth companies, FTSE 100 companies, institutional investors, entrepreneurs and management teams. The team also has a strong government sector offering and is considered one of the UK’s leading advisors to local and central government bodies. The team’s lawyers have extensive experience of advising on acquisition finance, real estate finance, restructurings, refinancings, project finance, asset-based lending and general finance on a bilateral, club and syndicated basis.
The team which sits alongside the firm’s national corporate finance practice won multiple accolades throughout 2022 including ‘Corporate Law Firm of the Year’ award at the East Midlands Dealmakers Awards and being named on various winning deals at a selection of Insider’s regional awards. The firm were also a recognised finalist in the ‘Regional Legal Adviser of the Year’ category at the European Private Equity Awards. Banking Associate Beth Nixon is also shortlisted as Lawyer of the Year at the 2023 Made in Manchester Awards.
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Browne Jacobson’s corporate technology dealmakers have advised Agilico, a workplace technology business, on its acquisition of Capital Document Solutions Limited for an undisclosed amount.
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There are clearly challenging macro-economic factors at play but at Browne Jacobson we continue to see good levels of transactional activity with certain sectors being particularly buoyant: healthcare, financial services, energy & infrastructure and tech.
Browne Jacobson continues to see good levels of transactional activity with certain sectors being particularly buoyant: healthcare, financial services, energy & infrastructure and tech.
Browne Jacobson’s banking & finance lawyers have advised HSBC UK Bank plc on the financed management buy-out of Derby-based bicycle supplier and distributor, Moore Large for an undisclosed sum.
Browne Jacobson has broadened its national construction and engineering offering with the appointment of construction partner Zoe Stollard into its Birmingham office.
Browne Jacobson’s banking & finance team continues to go from strength to strength. Its volumes are currently 25% ahead of last year’s & over the last 12 months the team advised on over 300 transactions across various sectors.
Browne Jacobson’s banking & finance team continues to go from strength to strength. Its volumes are currently 25% ahead of last year’s & over the last 12 months the team advised on over 300 transactions across various sectors.
In the last nine months of 2021 we saw a huge amount of activity across all sub-sectors of health and social care.
Over the last 12 months, the team which is made up of 14 specialist banking lawyers advised on over 300 transactions across various sectors including healthcare, private equity, financial services and tech. The deals have a combined value of £1 billion.
Join Browne Jacobson and Virgin Money for an on-demand webinar as they discussed their thoughts on the outlook for acquisition activity and funding in the health and care sectors.
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What a difference a year makes! See our transaction updates and our confident output in the Banking and Finance team.
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