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Targeted sector activity supports strong half year performance for RGCF

RG Corporate Finance (RGCF) is on course to continue a positive year of dealmaking with a strong pipeline of transactions ahead for the remainder of 2023.

Despite operating in an increasingly challenging economic environment, RGCF has delivered strong performance in the first six months of 2023 as it enacts its strategy of supporting businesses in key target sectors.

This is set to continue in H2 of the year with a strong pipeline of transactions ahead in markets such as professional services, human capital/recruitment, healthcare and technology.

The pace of activity in the first half of the year increased in the second quarter, with RGCF delivering a series of significant transactions in a short space of time.

The period culminated in RGCF winning the Corporate Finance Deal of the Year award at the North East Accountancy Awards in June for its involvement in advising the management team and Shard Credit Partners on the MBO of NA College.

Among the transactions RGCF advised on during the first six months of 2023 was MRN’s acquisition of specialist clinical trial software from Clindox Ireland Ltd and the sale of Naturally Wild to Cura Terrae.

In the professional services sector, RGCF advised acquisitive North West-based MAPD Group on the acquisitions of Ashton-under-Lyne law firm Bromleys and Cumbrian legal practice Thomson Hayton Winkley and its sister business The Rural Law Practice.

In May 2023, RGCF advised the shareholders of Northumberland-based security and facilities services provider, RH Irving Industrials Ltd on its £19.1m acquisition by London Stock Exchange-listed national facilities management company, Mitie Group plc.

Continuing its growing reputation and activity in the technology sector, RGCF advised on a series of transactions, which notably included online neurodiversity training and assessment provider Cognassist raising £4m of development capital from Gresham House Ventures.

RGCF also supported Newcastle-based employee health and performance specialist ART Health Solutions in securing £1m of growth capital from the North East Venture Fund, managed by Mercia.

Carl Swansbury, Partner and Head of Corporate Finance at RGCF, said: “In the face of tough economic conditions we have aligned ourselves with sectors that contain businesses of interest to trade buyers, funders and equity investors alike. This has enabled RGCF to deliver upon a strong pipeline of transactions in key markets, both in the North East and across the UK, which will continue during the second half of the year.

“We are seeing that there is still considerable appetite from the PE sector and liquidity in the debt market, which offers a strong funding pool to help businesses scale, support management teams fund MBOs and assist corporates make acquisitions.”

“Cleary, as interest rates have an impact on consumer spending there will be sectors, such as leisure, hospitality, retail and consumer that have the potential to be negatively impacted; however, there are businesses, led by entrepreneurial management teams, in these markets that continue to adapt and pivot in the face of these challenges.

Carl added: “Working closely with businesses across key sectors such as technology, professional services, human capital/recruitment, healthcare, manufacturing and industrials, we continue to grow our presence across the UK and it is testament to the talented and dedicated team we have built that we have delivered a successful first half of 2023, which will continue for the remainder of the year.”

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Carl Swansbury, partner and head of corporate finance at RGCF

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