Welsh Management Buyouts Hit Record
Byline: By DAVID WILLIAMSON Western Mail
The total value of management buyouts and by-ins in Wales hit the highest value since records began in 1985. Data from the Centre for Management Buyout Research show the value of deals exceeded pounds 630m.
The biggest deal of 2005 has been the institutional buyout of the PHS Group, one of the UK's leading workplace service providers, based in Caerphilly.
The upbeat picture in Wales reflects the trends across the UK, where the total value of deals completed in 2005 now stands at pounds 17.5bn for the first nine months of 2005, a 24% increase on the same period of last year.
The research is sponsored by Barclays Private Equity and Deloitte.
Colin John, corporate finance director at Deloitte Cardiff, said, 'In 2004 there were a larger number of mid-market transactions completed in Wales. Based on the research it looks like the trend in Wales for 2005 is for smaller deals with the notable exception of the PHS buyout.'
Tom Lamb, co-head of Barclays Private Equity, added, 'The UK buyout market is on track for its third successive year of growth and a strong Q4 could even see the market challenging the record high of pounds 24bn which was set in 2000.'
However, Robert Cherry, a corporate partner with the Cardiff office of law firm Morgan Cole, said he expected the figures were distorted by several large deals. …