Two St Peter's Square

EY adds to energy offer

Paul Unger

The corporate advisor forecast growth in fees from mergers and acquisitions in the energy sector, as it announced the appointment of Paul Stott as director from Ener-G Holdings.

Stott spent four years as group transaction finance manager and has previously worked at Deloitte.

Richard Harding, partner and head of transaction services for EY in the regions, said: “2017 was a standout year for our North West transactions team and our current levels of activity and pipeline show that 2018 is looking just as strong, which is why we have invested in growing our team further with Paul’s appointment.

“Paul not only brings previous experience of working on complex deals but also extensive knowledge of the energy sector – a particular strength for the North and an area we expect will see deal activity in the future.”

EY’s North West Transaction Advisory Services team acted on deals totaling £6.5bn in 2017. This was more than double the £3bn of deals completed in 2016.

The firm, which moved into new offices in Two St Peter’s Square, Manchester last year, acted on more than 30 completed deals in 2017, with highlights including Inflexion’s minority investment into Crewe-based fuel card provider Radius; the listing of Ramsdens Financial Services on AIM back in February; and North Edge’s disposal of Utiligroup to ESG in April.

Other completed deals include Old Mutual Global Investors’ investment in The Hut Group in August, Graphite’s investment in YSC and Kohler’s acquisition of Clarke Energy.

EY’s Transactions Advisory Services has recently been strengthened by welcoming Rob Jones, who has relocated from London to lead and grow EY’s Debt Advisory business in the North.

Mark Clephan, partner and head of corporate finance at EY in the North, added: “Brexit has certainly not resulted in a slowing of deal activity in the region, if anything it has resulted in greater opportunity as European businesses look to shore up their position within the UK market before any impending changes take effect, particularly given the benefit to overseas buyers of sterling depreciation.

“I’m excited by the breadth of opportunity that is already presenting itself this early into 2018 – the many private equity firms in the region remain active and the businesses we act for locally, which are based across the UK, remain an attractive proposition for trade buyers internationally. 2017 will be a tough year to beat but we are confident and up for the challenge.”

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