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22 March 2017

The dominance of PE backed IPOs

By Mark Hughes Snapshot: Resurgence of private equity backed IPOs since 2012 More companies have undertaken dual-track processes following market uncertainties in recent years PE-backed IPO pipeline remains strong Since 2012, we have seen a resurgence of IPOs backed by private equity (PE) with over 60% of total UK IPO...

21 March 2017

Act now to avoid regulatory action for failing to improve quality

By John Morris In our last blog, we discussed the expected change in focus from the Care Quality Commission (CQC) as they attempt to tackle services which are failing to improve between inspections. This could have significant implications for operators, should the CQC decide to apply an overall inspection rating....

17 March 2017

2017 Framework for action: valuation uncertainty for insurers

By Elena Saarbrucken The European Insurance and Occupational Pension Authority (EIOPA) and National Supervisory Authorities (NSA) of the EU and EEA plan to introduce substantial changes to the recovery and resolution framework for insurers in mid - 2017. Regulators have identified a number of gaps and shortcomings in their existing...

What do organisations really want from their Facilities Management suppliers?

By Derrick Tate I am passionate about the Facilities Management (FM) industry and proud of what FM does. But I do want to raise standards. Companies should buy and manage FM better and suppliers ought to sell and deliver it better. The industry is changing. Contracts are getting larger and...

16 March 2017

Europe’s unwanted loan portfolios

By Richard Thompson The European banking sector is going through unprecedented restructuring - many banks do not make an adequate return on equity and the well publicised volumes of loan portfolio trades are not just about shifting non performing lending but are part of a broader restructuring agenda. The chart...

08 March 2017

Care home operators to face tougher regulatory scrutiny of quality improvement and leadership

By John Morris The quality regulator of adult social care in England, the Care Quality Commission (CQC), is planning to make a number of important changes to its inspection framework during 2017. The changes are intended to give fresh impetus to quality improvement across the sector. In particular, the CQC...

03 March 2017

Bridging the gap: Innovative structures supporting Oil & Gas deals

By Neil Leppard and Ben Stuart Over the last year, the Oil & Gas sector has seen an increase in the number of deals with a contingent pricing mechanism. In other words, transactions where there is an additional future payment from buyer to seller if certain specific criteria are met,...

24 February 2017

Value in Completion Accounts

By Ermelinda Beqiraj and Helen Hankinson Blog snapshot Between 40% and 60% of M&A transactions have a completion accounts mechanism, adjusting the purchase price after completion to reflect the actual cash, debt and net working capital of the Target at Closing. Seasoned deal doers know that value can be won...

22 February 2017

Making a success of uncertainty: Highlights from Ben Clarke’s speech to the PwC Food Forum

By Neil Sutton One of the great things about the Food Forum is that it gives leading figures from the sector the chance to step back and look at the bigger picture. One of the best examples this year was Ben Clarke’s presentation in early February. As the former CEO...

Premium soft drinks hitting fever pitch

By Shane Horgan and Gordon Spiers After five years of flat volumes, the soft drinks sector is fizzing again. Consumers are becoming more health conscious and governments are pressurising the industry to cut sugar levels, and this is leading to growth within existing segments such as plain still water as...

Into Africa - Client Interview

Lucozade and Ribena, and Suntory’s growth strategy Back in 2013, Suntory’s $2.1bn acquisition of the Lucozade and Ribena brands was one of the biggest deals of the year, and the most significant international move the company had then made. Earlier this year it secured the missing piece in its Lucozade...

17 February 2017

The banking model of the future

By Joerg Ruetschi The banking industry is under tremendous pressure. Since the global financial crisis, a series of stringent capital and regulatory requirements have been introduced that have not only substantially impacted profitability but put into question the viability of some banking business models. Although most banks have responded by...

14 February 2017

Looking back and looking forward: what’s in store for UK retail in 2017?

By Lisa Hooker and Kien Tan If 2016 was characterised by expected cost headwinds (National Living Wage, rent and rates) and unexpected political events (the EU referendum and the US election results), then what will 2017 look like for the UK retail sector? And what opportunities exist for retailers to...

09 February 2017

Simplification in post-deal environments

By Sally Willard and Ben Bridbury In our latest in the series on corporate simplification we look at the myths around cost of resource, time and funds which stop businesses making the most of acquisitions. “The liquidation process will take too long and will be a burden on our resources”...

02 February 2017

The year the Northern Lights outshone the rest of Europe

By Lucy Tarleton Blog snapshot: Geopolitical shocks have impacted the European IPO market in 2016 Uncertainty will be the new norm and markets will have to adjust Cautious confidence for 2017: clarity over UK’s exit from EU, recovering oil price, potential European spin offs and privatisations, an encouraging pipeline of...