South East: Most valuable region in UK for business deals, says Grant Thornton
The South East has topped the charts for the value of business deals being done, new research shows.
According to Experian Corpfin’s latest report, £105,445 million worth of deals took place in the region in 2013, the highest value in the UK by far. The closest competitor was greater London, where £79,078m worth of deals was done.
It’s positive news for the South East’s economy and yet another sign of the continuing economic recovery, according to financial experts at Grant Thornton’s Southampton office.
Partner Norman Armstrong said: “The increase in deal volumes we’re experiencing across most of our sectors is further evidence that the nascent recovery in the UK is more broad-based than previously thought. Mid-market companies are continuing to drive this growth and remain attractive targets for mergers and acquisitions – especially for those companies looking for a safe and accessible entry point to Europe.”
The research by Experian also revealed Grant Thornton as the number one financial adviser to UK companies by deal volume for the third year in a row. The firm advised on 131 deals in 2013 and outperformed the market – recording an 8% increase on 2012 compared to the 2.9% uptick in total volume of industry deals last year.
Nigel Le Bas, associate director, advisory, at Grant Thornton in Southampton, added: “It’s fantastic we have retained our position as the number one financial adviser to UK companies for the third consecutive year. Not only have we remained at the top, we have outperformed the market and continue to grow our share.”
The fact that the South East has had the highest value of deals comes not long after it was revealed that the region is one of the most positive in the UK when it comes to business optimism. The latest ICAEW/Grant Thornton UK Business Confidence Monitor (BCM) found that business confidence in the region has been on an upward trend over the past year and now stands at +35.9, well above the UK national average of +31.7.
