In the first quarter of 2003, only 24 companies were sold to their management. The total value of the deals was £3.3bn, according to the KPMG report.
Oliver Tant, head of KMPG’s private equity group said: ‘Conventional wisdom would suggest that we are likely to witness more public to private deals, now that public markets have fallen than a couple of years ago when the markets were at their peak.
‘Companies have lower valuations but private equity houses are not buying them and independent directors and institutional shareholders are not selling them.’
KPMG corporate finance partner Mick McDonagh said the reluctance to sell is rooted in investor desire to avoid crystallising their losses. He said: ‘We are continuing to see more realistic price expectations on the part of vendors but it is still a big psychological step to accept the dramatic loss of value of the past few years.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.