23rd March 2021
Leading law firm Cripps Pemberton Greenish has announced it completed eleven M&A transactions with a combined value of over £100m in the eleven days leading up to the Budget, a record for the firm.
The transactions took place across London and the South East and included the sales of aircraft interior, exterior and completions company RAS Group and insurance business Sennocke International Insurance Services.
Another of the transactions completed was for long-standing client J. Clubb group of companies and its shareholders on the sale of the group to Agar Dry Mortar Holdings Ltd. The team had previously advised J. Clubb Limited on its restructuring of the group prior to its sale.
Julie Hughes, head of the corporate transactions team, believes the flurry of completions were partially prompted by anticipated changes to Capital Gains Tax (CGT) in the Budget. She commented: “With rumours circulating around CGT changes a number of our clients were keen to complete their transactions ahead of the Budget. The day before the Budget was announced we completed on six complex transactions! I am immensely proud of the team and the flexibility and perseverance they have shown in getting these deals over the line.
Despite the changes not being announced, the market is buoyant and we are continuing to see a flurry of activity. Successfully completing so many deals in such a tight timeframe further demonstrates to our clients that they can be confident in our ability to achieve their objectives.”