Mergers and Acquisitions in January 2023

Business Intelligence, Bureau Van Dijk, recorded an impressive start to the year with 172 transactions recorded for January. Overseas acquirers also saw increased activity during this time with a recording of 63 deals, highlighting promising months ahead as the year progresses.

The largest transaction for the month was the £4.3 billion acquisition of AVEVA group plc by Ascot Acquisition Holdings Ltd. AVEVA Group plc is a British multinational information technology consulting company headquartered in Cambridge, England. Ascot Acquisition Holding Ltd is an indirect subsidiary of French energy management company Schneider Electric SE. Ascot Acquisitions’ core activities include marketing, e-commerce, business data, software development, publishing and events with clients across the UK, Europe and the U.S.

Another significant deal recorded in January was the £2.3 billion acquisition of The Binding Site Group Ltd by Thermo Fisher Scientific Inc. Thermo Fisher Scientific Inc. is the leader in serving science, with an annual revenue of approximately $40 billion. Their mission is to enable customers to make the world healthier, cleaner, and safer. Marc N. Casper, Chairman, President and Chief Executive Officer of Thermo Fisher commented. “We are very excited to welcome The Binding Site colleagues to Thermo Fisher Scientific. The Binding Site expands our existing speciality diagnostics portfolio with the addition of pioneering innovation in diagnostics and monitoring for multiple myeloma. Early diagnosis and well-informed treatment decisions can make a significant difference in patient outcomes, and we are excited by the opportunity to enable further advancements in this area for the benefit of patients.”

Other higher value deals for this month include the acquisition of Biffa plc by Bears Bidco Ltd for £1.3 billion; Ltd by Gruppo MutuiOnline Spa for £131 million; Syrinix Ltd by Badger Meter Inc. for £15 million; Intechnica Holding Ltd by Crosslake Technologies LLC for £14.5 million; and Romar International Ltd by Archer Ltd for £6.6 million.

Tarn-Pure Holdings Ltd was acquired by HeiQ Materials AG for £850,000. HeiQ’s EVP, Tom Ellefsen said: “The HeiQ Group already has Europe’s most sustainable offering of hygiene technologies featuring probiotic cleaners, botanical antimicrobials, and bio-based biocides. With the addition of Tarn-Pure’s intellectual property for metallic copper and metallic silver, HeiQ becomes the industry’s go-to supplier for sustainable hygiene technologies. We look forward to bringing all of these products to our customers in the New Year.”

Some of the overseas deals that took place during this reporting period include the acquisition of Factoring franchise company in the United Kingdom by Grenke AG; RX Pharmatech Ltd by 22nd Century Group Inc.; Newington Communications Ltd by SEC Newgate SpA; and T Freemantle Ltd by Lifco AB.

The engineering sector proved to be particularly busy during this trading period with a number of deals taking place. Some of these acquisitions include HRS Hevac Ltd by Ormandy Rycroft Engineering; PJ Wiseman Ltd by The MK Morse Co; Wakefield Acoustics Ltd by CECO Environmental Corporation; and Bulgin Ltd by Infinite Electronics Inc.

To conclude, M&A activity in January spans across a number of sectors, with some significant deals contributing to this month’s overall figure. The UK maintains appeal from both the UK and global buyers, with active public trade buyers and private equity investors.

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