For this Monthly, we are delighted that Rooney Nimmo and 24Haymarket have allowed us to reproduce a recent report they jointly published, entitled An analysis of UK exits (2015-2019), which provides a granular analysis by sector of the activity in our dynamic private companies world. We hope you find the insights of interest.
Rooney Nimmo is a boutique international law firm, specialising in investment, transformation and growth across global markets. As global transaction advisers, the firm advises high growth companies and investors, institutional funds, multi-national banks and FTSE 100 companies across its offices.
24Haymarket is a London-based investment firm that focuses on early-stage growth equity and venture capital companies underserved by the institutional market. The 24Haymarket Investor Network invests both its financial and human capital in developing industry leaders of the future.
In 2016, Brexit occurred, and yet the data shows no significant variance in deal volumes post 2016, with the only consistent year of decreases, across the board, happening in 2018. In fact, across the baskets, there were year-on-year increases in deal volume, achieving £250 million-£5,000 million enterprise values (EVs) in 2018-2019.
Among the companies that make up this report, 773 were bought by other trading companies – representing 63% of the total. Of the sample involving British companies or companies with significant UK exposure, statistically, the acquirer was from the UK, followed by the US, France, Canada and China. Of the companies that make up the sample, the number of deal values that exceeded £500 million was 240, which is 20%. Unsurprisingly, TMT was the most active sector in the sample. Its 218 exits meant it was comfortably ahead of the second most-active sector