Deloitte has established a regional equity capital markets (ECM) hub in Manchester for the North West of England, broadening its services to large corporates.
With the recently announced loosening of listing rules in the UK, Deloitte has invested in a North West team of ECM practitioners that will support clients looking to transact in both the UK and US markets.
The team’s expertise includes IPOs, M&A, financial carve outs and transaction readiness and execution.
The team will be led out of the firm’s Manchester office by Deloitte’s Head of Regional Assurance, Tim Grogan, and Iain White, a Financial Advisory Partner in the firm’s specialist ECM transactions services team.
They will be supported by Katie Harrison, Pete Braddock and Raza Mian who are all partners specialising in financial controls, historical financial information and complex carve out financials.
Notable recent transactions the Deloitte team worked on include Morrison’s disposal of its petrol forecourt business, the demerger of Dowlais Group plc from Melrose plc and subsequent IPO, and Bridgepoint Group plc’s acquisition of Energy Capital Partners, in addition to a number of IPO readiness projects.
The new team comes at a time of significant growth for Deloitte’s North West of England practice.
Having grown its local headcount to over 1,400 people for the first time, in July the firm moved into its new Manchester HQ at 100 Embankment.
Jo Ahmed, Practice Senior Partner for Deloitte in the North West of England, said: “The investment in a dedicated ECM hub based in the North West is a significant development for the regional IPO market.
“Our Corporate Assurance hub has gone from strength to strength over the past five years, and in that time, we have seen particular demand in the North West market for specialist advisory services as corporates look beyond London.
“With equity capital advisors predominately based in the capital, we’re passionate about driving the growth of transaction services in the region through our advisory capabilities.”
Grogan said: “Having supported corporate entities in the equity capital markets for years now, establishing a dedicated and specialist ECM team based in Manchester is an exciting next step for our practice.
“With IPO markets expected to strengthen as we go through the second half of 2024 and particularly into 2025, the formalisation of our team comes at the perfect time for corporates preparing to go to market.”
White said: “It’s an exciting time for the regional market and establishing an ECM hub in the North West is reflective of the growing demand for local capital markets expertise that we’ve experienced over recent years and which we expect to be stimulated following recent changes in the Listing Rules.
“Domestic and overseas IPOs remain an attractive option for successful businesses, and we are passionate about supporting these businesses on their IPO journeys and helping existing listed corporates execute their M&A strategies.
“Our experienced team will continue to work with existing clients, while also forging new relationships to help lead regional corporates through the most complex and intricate transactions.”