KPMG acquires board advisers Makinson Cowell
Equity market advisers Makinson Cowell to keep its brand following KPMG acquisition
KPMG IS SET to acquire equity market advisory business Makinson Cowell.
Makinson Cowell provides boards of UK and European businesses with insight as to how they are viewed by institutional investors and how this impacts on their share price, and subsequently their ability to raise equity capital.
The deal, which is understood to be worth several million pounds, will see Makinson Cowell co-branded with KPMG, and is subject to approval by the Financial Conduct Authority (FCA).
Simon Collins, UK chairman of KPMG (pictured), said: “Whilst today’s deal is a relatively small acquisition for the firm, it is an important transaction for KPMG. First, Makinson Cowell’s insights into the market views of the shareholder community will help provide independent and objective equity advice linking the boardroom and investors, which can only be to the benefit of all those involved in the capital markets.
Bob Cowell, partner and co-founder of Makinson Cowell, said the deal “underwrites” the firm’s independence, with the brand being preserved.
“With KPMG’s support, client base and global platform, we will be able to meet the growing demand from current and prospective clients and expand our geographical footprint and service offering,” he added.
KPMG set up its independent debt advisory team in 1998 under now chairman Collins’ leadership.