DEALS worked on by Manchester-based advisors in Quarter 2 of 2010 rose by 40 per cent in comparison to the same period last year.

Figures released by pro.manchester - in association with Corpfin/Experian – show the total value of deals was 40 per cent higher than that of the same quarter in 2009.

Manchester advisors worked on a total of 47 deals in Quarter 2, of which 25 had disclosed values totalling £701m. Although the number of deals was eight per cent down on the same quarter in 2009, this represented a rise of nine per cent on Quarter 1 of 2010.

Acquisitions were the most popular form of transactions, with 21 deals and five development capital investments. No development capital investments occurred in the previous quarter.

The manufacturing industry was popular with advisors, with a total of 16 deals totalling £53m.

Outside the North West, the majority of work for Manchester-based advisors since Quarter 3 2009 has been in London and the South East, with 32 deals represented with a combined value of £254m represented.

The majority of deals, where value was disclosed, were in the sub-£10m bracket, with 15 deals totalling just under £39m.
Nationwide, the leading sector in terms of value was wholesale, retail and repair – with eight deals valuing £534m. The largest deal of quarter 2 was the £525m refinancing of Matalan Retail Ltd.

pro.manchester chief executive John Ashcroft said: “There is cause for optimism with the total value of deals significantly higher than Quarter 2 in 2009, showing confidence is returning to the market.

“The value of deals represented by Manchester professionals outside of the North West also reinforces our position as the leading financial and professional services community outside the Square Mile, demonstrating our advisors are at the forefront of market opportunities.”