A commercial law firm is preparing for continued growth after completing £75m of business during the last three months despite the “challenging” climate of Covid.
Stockton-based Endeavour Partnership saw 21 transactions finalised with clients from across the North-East.
The completed deals included an £11m refinance of a major, locally based client, a £28m group reorganisation, a share sale for three owner managers in another part of the country and several private equity investments to create expansion funding for new and existing clients.
Now Endeavour Partnership, which employs the largest commercial law team in the area with 13 specialists, is aiming for further growth, having reached the £75m figure during a period when the country was in lockdown due to the coronavirus pandemic.
Nik Tunley, partner and head of corporate commercial, said: “Despite the particularly challenging circumstances of the past three months, we’ve proven just how robust and successful our business is.
“Our commercial team has worked flexibly to ensure our clients have received the level of support they come to expect from the Endeavour Partnership and I am so proud of them. It just shows that, when faced with adversity, Teessiders assess and adapt.”
Another highlight for the corporate commercial team was its involvement in advising on the injection of £23.6m of infrastructure funding to help kick-start development on 270 acres of land at Teesside International Airport.
The proposed works will unlock up to £200m in private sector investment over the next ten years and see 3.4million square feet of logistic, manufacturing and commercial space built at the airport through a joint venture partnership with a private sector developer. This development is expected to boost the local economy, creating an anticipated 4,400 jobs.
Tees Valley mayor Ben Houchen has welcomed the resilience shown by Endeavour Partnership and other firms in the area.
He said: “Although we recognise the recent period has been challenging for organisations within the region, it is refreshing to know there is support out there and our business leaders are committed to driving forward with their plans.
“We would encourage companies across our region to access professional advice and services during this period.
“That’s why I launched my Back to Business Fund to provide SMEs with access to professional support and advice. Supporting our amazing small and medium sized businesses is a key part of my plan for recovery and jobs – creating high skilled, good quality local jobs for local people in Teesside, Darlington and Hartlepool.
“The last few months have been an unprecedented challenge for our small and medium sized businesses, but by working together our comeback will be greater than the setback.”