2024: Summer update
Welcome to the FRP Corporate Finance Summer update. As we enjoy the last few days of warm weather and Autumn approaches, we reflect on the last few months of activity, including our recent deals, new acquisitions and sector insights.
Dan Bowtell provides an overview of the current M&A landscape including current market conditions, sector trends (including the rapid emergence of artificial intelligence), and the outlook for the remainder of the year. Alex Patey takes a closer look at the deals landscape in the Travel sector, and Dan Salt explores how ESG is driving M&A activity in the Waste and Recycling sector.
In July we announced acquisition of Lexington Corporate Finance (Cardiff), followed by the acquisition of WilliamsAli Corporate Finance (Newcastle) in September. This strategic move extends our geographical reach into Wales and enhances our corporate finance offering in the North East. Our growing team now consists of 90 fee earners, including 25 Partners.
In August we welcomed Ben Hughes as a new Corporate Finance Partner based in our London Cannon Street office. Ben’s appointment further strengthens our Special Situations M&A expertise, having previously led the UK Special Situations M&A offering at FTI Consulting.
Dan Bowtell reviews the current UK M&A landscape
Whilst the M&A market has been characterised by subdued activity and uncertainty of late, the future landscape is far from stagnant.
Compared to the bustling years of 2021 and 2022 which boasted a flurry of deals, volumes have noticeably decreased, with the last six to nine months proving challenging for all dealmakers. However, the lower mid-market, in which FRP Corporate Finance operates, has remained relatively robust.
Several factors have contributed to this quieter period for the market as a whole. Persistent inflation, global conflicts, and rising interest rates have fuelled uncertainty, making it more difficult to close deals. This environment, characterised by sluggish economic growth across most major economies, has created a degree of inertia.
That being said, we expect activity will pick-up in the near future.
FRP expands into Wales
We acquire Lexington Corporate Finance
We’re pleased to have established our first Welsh office after acquiring Cardiff-based Lexington Corporate Finance.
Founded in 2015, Lexington provides corporate finance services to clients both locally and nationwide and will go to market as FRP Corporate Finance. Lexington’s Founder, Gary Partridge, joins FRP as Partner with all 14 other members of the Lexington team also joining to establish our 28th UK office.
The £3 million acquisition is our 10th since becoming a plc in 2020, as we continue to develop a full-service advisory practice across the UK.
