BusinessCorporate FinanceBumper year for MBOs

Bumper year for MBOs

Deals soar to £7.9bn.

The value of management buy out deals reached £7.9bn in the third quarter of
2006, according to a report by KPMG, an increase of 52% on the same quarter last
year.

It was an especially good quarter for Scotland, with four transactions worth
a total value of £135m completed.

Bruce Walker, corporate finance director for KPMG Scotland, said: “This has
been one of the strongest quarters on record, reflecting a great three months
for mid-sized firms in particular.

‘2006 saw the MBO market in Scotland get off to a bit of a flyer with £97m
worth of transactions posted in quarter one, but last [second] quarter saw no
deals recorded in Scotland, so this latest bumper period is all the more
pleasing,’ he added.

Walker said the £135m total in Scotland compared with £40m in the same period
last year and proved the upbeat mood in the MBO market.

Retail giant Internaçionale, and Glasgow-based financial firm Giles
Insurance, both posted the largest deal values of the quarter when they
completed MBOs valued at £45m. The others were from engineering firm Motherwell
Bridge (£16m) and Avance Group plc (£29m), a Glasgow-based credit management
business.

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