Clearwater heads for record year
CLEARWATER, the Nottingham corporate finance house, is on target for its most successful year – with total deals set to exceed £1 billion in 2013.
The firm heads into next year with a record order book, including more than 30 active projects averaging in excess of £30 million.
The transaction value of the order book is 50% higher than at the same time last year.
Clearwater says it has enjoyed a successful 2012, completing 27 deals with a total value of £530 million, including a strong end to the year with nine deals announced since November.
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Key deals advised on by Clearwater during 2012 include:
The investment in Pizza Hut UK by private equity group Rutland Partners.
The sale of insurance support services business Direct Group to US-based Ryan Specialty Group.
The sale of home improvement brand Everest to Better Capital.
The acquisition of IT solutions business Capula for Dutch firm Imtech.
Clearwater's international expertise was strengthened during the year by the appointment of managing partner Mike Reeves to the board of IMAP, the international merger and acquisitions organisation.
The firm has also established a dedicated China desk in response to a predicted rise in merger activity between western economies and Asia.
Mr Reeves said: "Our approach appears to already be yielding results, with more than half of our merger and acquisitions transactions now being cross-border."
Private equity continues to be a key source of deal flow for Clearwater, accounting for 14 deals, or more than half of the firm's total transactions.
Other key developments for the firm this year include opening a new, larger office in Nottingham to cement the firm's offering in the city.
Paul Newell, partner in Clearwater's Nottingham office, said: "After an extremely busy 2012, we are pleased to be moving into 2013 with our best-ever order book. We are very confident for next year."