2026: Summer update
Highlighting our recent deals, key developments within our teams, and insights into the trends shaping the market.
Welcome to the FRP Corporate Finance Summer update.
In this latest update, we look at the trends driving deal activity, the funding and diligence considerations shaping transactions, and the latest developments from across FRP Corporate Finance.
Partner Peter Aspinall, based in London, examines the current UK M&A landscape – from growing mid-market confidence and sustained private equity interest to the increasing role of AI in investment decisions and deal processes.
Director Scott Ellis, based in Cardiff, considers how asset-based lending is evolving, and what this means for businesses weighing refinancing and funding options.
Transaction Services Partner Daniel Jonas explores how modern due diligence is evolving beyond reporting to become an important decision-support tool.
Our latest insight articles also examine key sector and investor trends: Director Jessica Ring looks at why private equity is shifting from buying market leaders to building them; Partner Bilal Hasan explores changing dynamics in the UK lettings and estate agency sector; and Partner Victoria Kisseleva considers what makes a beauty brand acquisition ready.
To support our continued growth, we recently announced four senior hires across the team. Partner Mark Stoddart will lead our activity in the travel, hospitality and leisure sector. Partner Peter Aspinall and Director Dan Walters have joined our growing technology sector team, and Director Scott Ellis has joined the Debt team, further strengthening our UK-wide asset-based lending capabilities.
Our regional dealmaking momentum has been recognised across the UK, with three wins at the South Coast Deals Awards. The team was named Corporate Finance Team of the Year, while Simon Davies won Dealmaker of the Year and Darren Miller was named Corporate Finance Adviser of the Year. We have also been shortlisted across multiple categories at the Insider Dealmaker Awards in Wales, the North East, the North West and the Midlands.
Mid-market M&A gathers pace as buyer confidence returns
Peter Aspinall reviews the latest developments in the M&A market.
Despite ongoing geopolitical headwinds, the recovery in UK M&A activity – first evident among larger transactions in Q1 – is now reaching the mid-market. Improved sentiment, pent-up private equity demand and sustained overseas interest are creating a more favourable environment for business owners considering their strategic options.
Businesses with a distinctive offer and a clear growth plan continue to attract strong interest, although buyers remain selective. This is particularly relevant when it comes to AI and wider technological capabilities, with buyers and investors increasingly looking beyond the headline claims to assess whether investment in innovation is delivering tangible results.
Even so, buyer appetite remains strong for businesses that can demonstrate clear strategic value, giving well-prepared owners cause for cautious confidence as they consider their options.
The changing face of asset-based lending in debt advisory
Scott Ellis outlines how greater flexibility and competition are reshaping the UK debt market.
So far in 2026, the debt market has been characterised by strong liquidity and lender competition, as well as a growing selectivity as refinancing pressures and economic uncertainty shape funding decisions.
Today, even while the market continues to evolve, many of those dynamics remain. Competition is encouraging lenders to explore more flexible structures, while businesses are reassessing funding arrangements against a backdrop of geopolitical uncertainty, ongoing cost pressures and an upcoming Budget.
One of the most important developments is the changing role of asset-based lending. Once associated primarily with working capital and more challenged situations, it is increasingly being used as a strategic funding option, widening the choices available to businesses.
From data to decision: Why early insight matters in transactions
Daniel Jonas explores how modern due diligence is evolving beyond reporting to become an important decision-support tool.
As transactions become increasingly complex and timelines lengthen, technology, data analytics and a targeted approach are enabling due diligence to deliver robust, evidence-based insight throughout the deal process.
Ben joined FRP in 2025 and is a Senior Manager in the Corporate Finance team, based in our Reading office.
Can you tell us a little about your professional background?
My route into Corporate Finance wasn’t traditional. After starting my career at Honda in various finance roles, I moved into a trading business working on international transaction financing. In this role, I became increasingly interested in how businesses fund growth and execute transactions, leading me to Corporate Finance at a mid-market boutique, where I spent six years before joining FRP in October 2025.
Tell us a little about some of the deals you’ve worked on recently?
One of the most rewarding transactions I’ve worked on was advising on the sale of Field Seymour Parkes to the Lawfront Group.
The deal involved a leadership transition, a property carve-out and regulatory approvals within a tight timetable. Despite the complexity, we helped deliver a successful outcome for the partners, making it especially rewarding given the firm’s strong reputation across the Thames Valley.
Is there a particular skill or experience that has shaped the way you work today?
My early career in industry continues to influence how I work with clients. Supporting leaders across different functions gave me a strong appreciation of the operational and commercial challenges business owners face every day.
That experience helps me look beyond the numbers and understand the factors driving decision-making. Transactions are rarely just financial events, they’re often significant moments for the people involved, and understanding that is an important part of delivering the right advice.
Tell us a little about what you like to do in your spare time?
Outside of work, I enjoy staying active and spending as much time outdoors as possible, whether that’s travelling, playing golf or meeting friends.
I’ve recently returned from a trip through Italy after a friend’s wedding, travelling from Lake Como to Rome with a few stops along the way. When the British weather is less accommodating, you’ll usually find me following sport from the comfort of indoors, particularly the NFL during the season, which accounts for a fair share of my weekends over the winter months.
