BusinessCorporate FinancePrivate equity flourishes

Private equity flourishes

Some of the estimated £35bn wrapped up in private equity investment is at last being realised, as stock market flotations have begun to relieve the backlog in the second quarter of this year.

The Centre for Management Buy-Out Research has recorded 11 exits through flotation for the quarter, compared to just one in the first three months of the year and just nine during the whole of 2003.

This year the centre has recorded realisations worth £8bn, equalling 2003’s total. Tom Lamb, managing director at Barclays Private Equity, said: ‘Traditionally trade sales provided best value and a clean break for VCs.’

Mid-sized businesses have healthy ambitions for growth, but are reluctant to become involved in merger and acquisitions or flotations as part of their future plans.

and…

A survey from Grant Thornton showed that only 4% of businesses were interested in M&A as a route to growth. Most saw organic growth and increasing sales to existing clients as the way forward. Jim Rogers at Grant Thornton said: ‘It is encouraging to see that mid-corporate businesses, no matter what stage in their development, are ambitious about their growth.’

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