Gateley Legal sees sustained increase in deal activity
13th January 2021, 11:26 am
The corporate team at Gateley Legal in Manchester is reporting an uplift in transaction activity, particularly in private equity led deals over the last 12 months. The national team advised on 89 private equity transactions in 2020, which equates to one third of all corporate deals completed by the legal and professional services group.
According to Experian Market IQ, Gateley Legal’s corporate, banking and restructuring teams are again ranked as the most active deal advisers in the North West, after advising on 27 corporate deals based in the North West alone for the first nine months of 2020. They have also been ranked number one in terms of deal volumes nationally for each of the last three years.
Gateley Legal’s headline deals from 2020 included advising fitness apparel brand, GymShark, on all aspects of a minority investment by General Atlantic. The valuation enabled Gymshark to achieve unicorn status; a feat achieved in just eight years.
Other deals completed by the Manchester corporate team include advising Inspired Energy Plc on the acquisition of Ignite Energy for c£30m and the £10.5m sale of the group’s non-core SME division, the exit of Equi2 for LDC and advising incumbent and exiting shareholders on Palatine’s investment in NRG.
Paul Jefferson, corporate partner and head of Gateley’s Manchester office, commented: “It’s clearly been an uncertain and turbulent year for many businesses. The legal sector in particular has been tested, but our private equity client base has remained very active and activity levels have stayed strong throughout the year.
“We are now busier than I have seen for some time, especially with many business owners seeking an exit ahead of widely anticipated increases in Capital Gains Tax rates, which many are expecting to take effect from early March. Our North West deal teams are again transacting large volumes and we envisage that strong performance to continue into 2021, especially as we return in the medium term to a more normal working environment. In terms of private equity, Manchester really is the place to be doing business right now.”
Gateley Legal has a team of over 70 corporate lawyers nationally, who advise private and public companies, owner-managed businesses and entrepreneurs on a wide range of corporate matters.