Uplift in value
RSM sees record deal activity in Scotland
RSM Scotland advised on more than 30 deals last year, with a combined value of more than £400m, representing a 75% uplift in value compared with last year and an increase of 228% on pre-pandemic levels.
Transactions included the sale of Axios Systems to IFS; Circularity Capital’s investment in P2i; the acquisition of Roylance Pharma by US client Infinity BiologiX and the admission of Parsley Box to the Alternative Investment Market.
RSM, which was also involved in the IPO of Calnex in October 2020, invested in senior talent with the appointments of partners Alan Brown (restructuring) and James Strang (tax).
Nationally the RSM UK corporate finance practice acted on more than 240 deals last year with a combined value of £4.1bn – a record year for the corporate finance practice.
Angela Toner, transactions partner at RSM UK, said: “With high levels of liquidity in the market and continued low interest rates, the level of cash in the market will continued to drive strong levels of M&A activity into the New Year.
“However, resource constraints across the advisory sector are what is holding back the industry. Expert services such as data analytics, financial modelling and due diligence remain in high demand, and buyers will need to continue to factor capacity issues into deal planning throughout 2022.”