The market for corporate finance deals in the North-East is showing signs of recovery, according to a leading local corporate finance expert who has just completed two major transactions in the region.
Wynyard-based Baldwins have helped Wolfgang Capital acquire Starkold Building Services as part of their ‘buy and build’ expansion strategy, for an undisclosed sum.
Graham Cornforth, corporate finance partner with Baldwins, said: “An active deal making market is important to a strong economy and there are signs of an increase in the number of enquiries and activity, all of which points to a recovery in deal making.
“Finance is readily available to ambitious businesses from a variety of sources, including banks, private equity and syndicates, which is a key factor.
“We have just completed two transactions in the last month, one the sale of a leading construction logistics services business and the other a deal in the engineering sector.
“These show that with the correct diligence and deal structure, buyers and sellers can still successfully secure a deal.
“Both deals are an excellent fit for all parties and will result in ongoing expansion and additional employment.”
Carl Collett, partner with Wolfgang Capital, said: “We are absolutely delighted to have completed the acquisition of Starkold Building Services and welcome it into the Wolfgang portfolio of companies.
“Starkold is one of the UK’s largest national construction and logistics providers and we look forward to working with the team to continue building on what is already an exciting and successful business.”
Darren Grooms, managing director of Durham-based Starkold, added: “We are delighted to have secured the sale of the business to Wolfgang Capital.
“Having the support of Graham and the team at Baldwins has been vital to enable this deal to succeed.
“We’ve worked hard to develop a successful business and so I look forward to seeing Wolfgang’s expertise create a strong, fast-growing business”.
Graham Cornforth added: “Despite the lockdown, and the most challenging economic circumstances many of us can remember, well structured transactions are key to ensuring M&A activity continues.”