It's nearly 12 months to the day that Lehman Brothers filed for Chapter 11 bankruptcy protection in the US and the acknowledged start of the credit crunch.
Despite the world's banking markets going into freefall from that time, and deals supposedly non-existent in the corporate finance world, The Corporate Finance Network say they have never been busier.
Founder and Chairman of The Corporate Finance Network, Kirsty McGregor, today reports that in the last 12 months, their member firms, who are all UK regional accountancy firms advising the SME sector, have completed around 60 assignments with a total of deals worth over £50m.
"We've found that business owners need our firms' advice more than ever before. They have successfully acted for many SMEs on a wide range of issues such as restructuring debt and financing their business or projects of a more transactional nature.
Owner-managed businesses are recognising that only the best small businesses are going to be sold for a good multiple in the future, and therefore we've been assisting with many exit planning projects to increase the value of the business and make it easier to sell when the time is right. And for the more savvy business owners, there has still been acquisition assignments as they've spotted that there are definitely bargains to be had out there in this tricky market.
Through our network, our firms have access to market-leading resources, research databases, technical skills and specialist contacts, and therefore can deliver a level of advice that is normally only associated with the largest national firms of accountants in the UK. Clearly though, their fees can't be justified on small transactions, and so The Corporate Finance Network is the obvious route for SMEs who want the highest quality of advice at a price that's reasonable."
For more information, and case studies of particular deals across the UK, please contact info@corporatefinance.org.uk or your local firm which can be found on the http://www.corporatefinance.org.uk/about-us.php pages.
