Mergers and Acquisitions in October 2019

With a 22% increase from the previous month, M&A activity in October has continued the growing trend and rounded an impressive number of 168 deals this month. Of these deals, 48 involved an overseas acquirer which is also an increase of 26% in comparison to September.

The highest deal value for October involved the acquisition of Greene King plc by CK Noble (UK) Ltd for the notable sum of £4.6 billion. Nick Mackenzie, chief executive of Green King commented, “Greene King has a well-invested estate in prime locations, leading brands, a rich history and a talented team of circa 38,000 people serving millions of customers across the country every week. CKA is an UK investor and shares many of Greene King’s business philosophies. They understand the strengths of our business and we welcome their commitment to working with the existing management team, evolving the strategy and investing in the business to ensure its continued long-term growth”.

Other high value transactions for October include: Liberty Living Group plc acquisition by The Unite Group plc for the deal value of £1.4 billion; Virgin Galactic acquired by Virgin Galactic Holdings Inc for over £1 billion; Charter Court Financial Services Group plc acquired by OneSavings Bank plc for the deal value of over £730 million.

Companies within the food and beverage industry have also been active this month with a number of deals taking place within the sector. Some of these deals include: Tulip Ltd acquired by Pilgrim’s Pride Corporation; Bakery Foods Ltd acquired by Valeo Foods Group Ltd; Public Restaurant Partner Ltd acquired by CH & Co Catering Ltd; Vinotheque Holdings Ltd acquired by Coterie Ltd; and PastaKing (UK) Ltd acquired through a management buy-in.

A leading developer of multifamily residential properties in London, Telford Homes plc has been acquired CBRE Group Inc for in a deal transaction over £260 million. President and Chief Executive Officer of CBRE commented, “We are excited about the opportunities that Telford Homes affords us. The UK is in the early stages of a secular shift toward institutionally owned urban rental housing and Telford Homes’ talented team positions us to lead this trend”.

Some of the overseas acquirer transactions include: Bell-Fruit Games by Inspired Entertainment Inc; Norman Hay plc’s operating divisions by Quaker Chemical Corporation; Paragon International Holdings Ltd by PSC Insurance Group Ltd; Naughton (Holdings) Ltd by Herman Miller Inc; Diagnosys Holdings Inc by Astronics Corporation; GMS Entertainment Ltd by Aspire Global Plc; and Regency Cleaning Services UK Ltd by Ecoleen.

In summary, this months’ M&A activity has taken place in a varied range of sectors, with significant deals contributing to this month’s overall figure. With active public trader buyers as well as private equity investors, the UK continues to appeal to acquirers from both the UK and overseas.  Our team are highly experienced and can assist you in realising the value of your company. Whether you are considering exit strategy options or exploring another avenue, you can call our team in confidence on 0203 441 2003. Alternatively, you can use our free, online valuation calculator to determine the value of your company.