November 2023

IPOs have been thin on the ground, and London seems to be having a particularly tough time attracting companies to list – will regulatory reforms help, or are there more fundamental issues? In our annual look at the busiest mid-market buy-out firms, we look at who continues to invest in challenging conditions. And David Prosser looks at the rise and rise of employee ownership trusts as an exit option for owners.

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long read

London’s IPO market

As a leading centre for investment capital, London needs a healthy IPO market. David Prosser looks at the challenges it faces in an increasingly competitive market for capital and businesses considering a listing.

News and views

Faculty news

November 2023

The Faculty’s “Earn-outs in Agreements guideline”, David Petrie speaking at The Future of Capital Markets Regulation Summit 2023 last month, and news of The Corporate Finance Faculty Annual Reception on 9 November.

opinion

Jon Moulton on valuing portfolio companies

Valuing portfolio companies has always been something of an art, but the only true valuation is on exit, says Jon Moulton.

Connections

Corporate finance advisory

Promotions and those on the move in corporate finance advisory.

Legal advisory

Who’s on the move or been promoted in legal advisory.

Private equity

Recruitment and promotions in private equity.

Global investment and M&A

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Comment: Zoe Clarke on interest rates

Interest rates are rising, but what’s on the horizon? EY’s Zoe Clarke looks at what the forecasts mean for both private and public mid-market M&A.

Innovation and sustainable recovery

Buy-outs: the 10 most successful firms

While times continue to be tough, there is interest in inventive mid-market deals. Jason Sinclair looks at the figures and profiles the 10 most successful firms.

Insight: employee ownership trusts

For a certain type of business, transferring ownership to employees is an exit option that has been continuing to increase in popularity over the past 12 months, despite the challenges facing exit routes. David Prosser reports.

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Future advisory professionals

roadshow

Enter the dragon

Wales is one of the few regions of the UK that really has seen an uptick in deals completed this year. Andy Thomson reports.

on my cv

Advising the advisers

James Wood of Buzzacott on advising one accountancy firm on acquiring another.

career paths

Art of the deal

Flora Foreman of haysmacintyre hedged her bets at university, taking a degree in economics and art history. In the end, a career in finance won the day.