Mergers and Acquisitions in October 2021

Business Intelligence, Bureau Van Dijk, recorded another busy trading month in M&A with 235 transactions in October, highlighting an increase of 32% from last month. Overseas acquirers have also increased by 22% with 77 deals recorded this month.

The largest transaction of the month was the £7.1 billion acquisition of Wm Morrison Supermarkets plc by Market Bidco Ltd. Trading as Morrisons, the company is the fourth largest chain of supermarkets in the UK. Although they are headquartered in Bradford, the chain spreads out through numerous locations in the UK.

Another significant deal recorded was the £2.5 billion acquisition of SB Energy Holdings Ltd by Adani Green Energy Ltd. Vneet S. Jaain, Managing Director & CEO of Adani Green Energy Limited commented, “This transaction takes us closer to becoming the global leader in renewables. The addition of these high-quality large utility-scale assets from SB Energy India demonstrates Adani Green Energy’s intent to accelerate India’s efforts to transition towards a carbon neutral future. Our renewable energy foundations will enable an entire ecosystem of new industries that can be expected to catalyse job creation in multiple sectors”.

Other higher value deals for this month include the acquisition of Gamesys Group plc by Bally’s Corporation for £2 billion; Mirion Technologies (TopCo) Ltd by GS Acquisition Holdings Corporation II for £1 billion; Arrow Global Group plc by Sherwood Acquisitions Ltd for £563 million; Newcastle United Ltd by PCP Capital Partners LLP for £305; Frazer-Nash Consultancy Ltd by KBR Inc. for £293 million; Synetiq Ltd by IAA International Holdings Ltd for £225 million; Tiziana Life Sciences plc by Tiziana Life Sciences Ltd for £112 million; Norish (NI) Ltd by Nichirei Holding Holland BV for £65 million; and ATDBio Ltd by Biotage Ltd for £50 million.

Thunderful Group has acquired games consultancy firm Robot Teddy for £22 million. The acquisition is part of Thunderful’s plans to expand its games development and publishing capacity, creating a new investment pillar. Founder of Robot Teddy, Callum Underwood commented, “I’m delighted to be joining Thunderful. Having them believe in our vision and goals and understand the path we want to forge for self-published devs in the industry, is rare and wonderful. They’re giving us the support we need to develop and implement long-term plans that just wouldn’t be possible otherwise. We get to manage our own funds, we get to still work with all our clients, and we get to be Robot Teddy.”

Some of the overseas deals that took place during this reporting period include the acquisition of Hastings Hotel Group Ltd’ Slieve Donard Hotel Resort & Spa by AJ Capital Partners; FAI Automotive plc by Motus Holdings Ltd; Mellow.Store Ltd by Thought Leaders Inc.; Falanx Assynt Ltd by Cross Atlantic Solutions LLC; Integra Associates Ltd by Arribatec Solutions SA; The Transcript Agency LLP by VIQ Solutions; Livingstone Partners LLC’s UK operations by Rothschild & Co SCA; Laird Connectivity UK Ltd’s external antennas business by TE Connectivity Ltd; and Horizon International Cargo Ltd by Scan Global Logistics A/S.

The Professional Consultancy sectors proved to be impressively active this month with numerous transactions taking place. Some of these acquisitions include Robinson Low Francis LLP by Mark G Anderson Consultants Inc.; Trident Financial Planning Ltd by Connectus Group LLC; Xoomworks Ltd by Accenture plc; The Connor Consultancy Ltd by NFP Corporation; and Mono Consultants Ltd’s certain assets by Solutions30 SE.

In summary, October’s M&A activity has taken place in a number of different sectors, with significant deals contributing to this month’s overall figure. With active public trade buyers, as well as private equity investors, the UK continues to appeal to acquirers from both the UK and overseas. 

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