Corporate law firm Greenaway Scott (part of the GS Verde Group) has been named as Wales’ most active legal team for mergers and acquisitions (M&A) in the first half of 2020, in a report by Experian Market IQ.
The Experian Market IQ report compiles UK, European and Global M&A activity and corporate finance research. The report tracks deal activity throughout the year and the ranking outlines the most active advisers in each region. Greenaway Scott was previously named as Wales’ most active M&A adviser for the full calendar year 2019 and the results for the first half of 2020 mean it has been able to occupy this slot consistently over the last 18 months.
The recent activity in 2020 for Greenaway Scott includes work on the recently announced merger between the private equity backed Amberon Group and Forest Traffic, which resulted in the creation of a £90m turnover business with 1,000 people employed within it. This merger was also included in the top 10 deals in Wales.
Greenaway Scott is part of the multi-discipline GS Verde Group which operates out of its Cardiff HQ. The team has also recently expanded its offices to include a Bristol & South West England team which was also ranked in the top 10 most active M&A legal teams in Bristol & South West by Experian in its 2020 report.
The GS Verde Group consists of corporate law firm Greenaway Scott and corporate finance firm Verde CF. It is unique in Wales with an integrated advisory team that is able to handle both the legal aspects of mergers and acquisitions and the corporate finance aspects of any transaction all under one roof.
Nigel Greenaway, CEO of the GS Verde Group said
“We are very pleased to be recognised as the most active legal advisers for M&A in the first half of 2020. The team had a great 2019, and their ability to maintain this status through the first half of 2020, despite the challenges of the pandemic, is a credit to the hard work and ability of the corporate team.”
Experian’s report also highlighted that despite the ongoing Covid-19 crisis, there have still been some positives to take from M&A activity during the first half of 2020 in Wales. Although deal numbers within the country fell by 27%, transaction values reached £434m, a rise from £346m in 2019. It is also the highest figure recorded for the opening six months of any year since 2017.
There are positive signs that the M&A market may improve further in the second half of the year, and Mr Greenaway added:
“Our analysis of the market suggests the signs for the coming months are actually positive. It is true to say that my personal experience has been that the pipeline for transactions has started to fill over the last 4 weeks or so and indeed July already looks capable of being a step up from June, so I remain hopeful for the future.”