Accountancy firm hails ‘remarkable’ year for deals

Accountancy and business advisory firm BDO has revealed it advised on deals worth £46 billion in 2021.

The company said that last year it was involved in more than 400 corporate finance deals.

Around two-thirds of those transactions involved private equity as the UK continued to rebound following the disruption caused by the coronavirus pandemic in 2020.

Highlights included acting as the reporting accountant for Greencoat UK Wind on its £450 million fundraise in December and supporting BAE Systems with financial due diligence in its bid to join the global space race through its acquisition of In-Space Missions.

The firm also advised the shareholders of pet accessories brand Omlet on its sale of a minority stake for £33 million to Piper Private Equity.

Elsewhere, BDO continued its work as an AIM adviser having acted as the reporting accountant for IPOs including Microlise, Peel Hunt and Revolution Beauty Group.

Peter Hemington, head of mergers and acquisitions at BDO, said: “2021 has been a remarkable year for dealmakers and activity has been underpinned by the resilience and ambition of the UK’s entrepreneurial businesses.

“Our private equity experience meant we were well placed as activity in the UK market in 2021 reached levels not seen since before the global financial crisis.

“We’ve seen exceptional deal values and volumes across sectors including technology and media, which continues to be one of the fastest growing areas of M&A activity for the firm.

“There has been strong activity across the UK as businesses continue to rethink their ambitions and go for growth.

“Even with some uncertainty at the start of the year, the current high levels of deal-making are expected to continue throughout 2022.”