Law firm boost

Shepherd & Wedderburn reports 10% rise in deal values

Moray East windfarm

The firm acted for Moray Offshore Windfarm (East)

Shepherd and Wedderburn’s banking and finance team saw the value of transactions in which it has been involved rise by 10% in the year to 30 April.

The team completed 167 deals with a combined value of £145.4 billion, five more than in 2017/18 which were valued at £132bn.

Fiona Buchanan, head of the team, said the year-on-year increase in the cumulative value of deals illustrates the team’s success in securing higher value work with new and existing clients.

“Our clients were particularly active in the renewables, healthcare, technology, real estate and financial sectors last year, which largely reflects the sectors that are performing well in both the Scottish and wider UK economies,” she said.  

“Approximately 15% of work won last year was with new clients, notably corporates seeking our experienced banking and finance advisers to put debt funding in place, particularly as Brexit uncertainty continues to influence operating conditions. 

“We also saw an increase in lender-side mandates, indicating the banks are getting on with business despite ongoing uncertainties.” 

The firm acted in some of the biggest deals of the year including the Scottish aspects of the £2.6bn financing of the Moray East Offshore Windfarm in the Outer Moray Firth. Other clients included HSBC, Bank of Scotland and ScotMid.

In the past year, the team also continued to grow its financial products and services advisory practice.

Looking ahead, Ms Buchanan believes technology-led innovation will be the key business and transactional drivers.

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