Global accountancy network RSM has said its team in Scotland smashed its deal-making performances of past years during 2021.
The Scottish operation advised on more than 30 deals, with a combined value in excess of £400 million.
This equates to a 75% jump in value compared to 2020 and an increase of 228% from pre-pandemic levels, RSM UK said.
High-profile deals involving RSM’s financial services specialists in Scotland included Mattioli Woods’ acquisition of Ludlow Wealth Management, and the Alternative Investment Market listings of Calnex and Parsley Box.
Activity in the Scottish market remains strong.”
Angela Toner, transactions partner, RSM UK.
Two new partners, Alan Brown (restructuring) and James Strang (tax) were appointed across RSM’s Scottish business last year.
The group has four offices north of the border – in Aberdeen, Lerwick, Edinburgh and Glasgow.
Its Granite City office is led by managing partner Andrew Forsyth.
In excess of 240 deals UK-wide
RSM said its UK-wide corporate finance practice helped to deliver more than 240 deals, with a combined value of £4.1 billion, in a record year.
Angela Toner, transactions partner, RSM UK, said: ‘After a bumper Q1 when the threat of capital gains tax increases accelerated deals activity, deal volumes and values remained high throughout 2021, due to the continued ambition of private equity investors and low cost of capital for corporates.
“Activity in the Scottish market remains strong, and I am delighted our dedicated financial services transactions team in Scotland is now well-established as a key adviser to high profile consolidators in the very active wealth management sector.”
Resource constraints across the advisory sector are holding back the industry.”
She added: “With high levels of liquidity in the market and continued low interest rates, the level of cash in the market will continue to drive strong levels of M&A (mergers and acquisitions) activity into the new year.
“However, resource constraints across the advisory sector are holding back the industry.
“Expert services such as data analytics, financial modelling and due diligence remain in high demand, and buyers will need to continue to factor capacity issues into deal planning throughout 2022.”