Gloucestershire accountants says £1.5 billion of deals is a sign of confidence in UK business

Business deals valued at £1.5 billion have been handled by a Gloucestershire firm Hazlewoods, with the accountants saying it reflects a desire to invest in good UK businesses.

By Andrew Merrell  |  Published
Hazlewoods said the Gloucestershire firm's 2022 performance reflected 'a return of confidence by investors.

Gloucestershire accountants, Hazlewoods, has said that it helped make a record £1.5 billion-plus of business deals possible in 2022 – with 2023 already showing similar promise.

The Staverton-based firm said the figure represented a record value for deals handled by its corporate finance team, up 42.6 per cent on 2021, reflecting a return of confidence by investors.

During the 12 months to Saturday 31 December 2022, the team completed 165 transactions valued at £1.531 billion, with a quarter of those deals involving firms from the South West and many with a UK or international reach.

The majority of deals handled by the corporate finance team were in sectors including health, social care and specialist education, veterinary, dental, pharmacy, legal and insurance.

Paul Fussell, corporate finance partner at Hazlewoods, who leads the 40-strong corporate finance team, said: ‘This is a fantastic achievement for the team and firm as a whole, despite the challenging macroeconomic conditions during the second half of last year.

‘We have been working on projects that are increasingly large, complex and high-value, with our 2022 performance reflecting the confidence that business owners have in us to deliver a quality service.’

James Morter, also a partner at the 400-strong firm, said: ‘2023 is shaping up to be a busy and exciting year in mergers and acquisitions, with our specialist corporate finance team helping even more clients to buy and sell businesses.’

Director, Rich Grover, added: ‘Stability is returning to the market more quickly than many anticipated. Whilst interest rates are higher than we have been used to in recent years, they are not exorbitant in comparison to long run averages.

‘Trade acquirers with cash on their balance sheets are seeking strategic acquisitions, and private equity houses are compelled to find attractive acquisition targets to deliver a return for their investors.’

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