Business

Deals in north rise faster than Britain after Moy Park deal

The deal to sell Moy Park for almost £1bn has bolsters Northern Ireland's mergers and acquisitions data this year
The deal to sell Moy Park for almost £1bn has bolsters Northern Ireland's mergers and acquisitions data this year The deal to sell Moy Park for almost £1bn has bolsters Northern Ireland's mergers and acquisitions data this year

THE mega deal which saw Northern Ireland's largest company Moy Park change hands for almost £1 billion has seen the value of mergers and acquisitions in the north rise faster than any other part of the UK.

Marfig sold the poultry business to fellow Brazilian group JBS for £946 million in June.

It was one of 99 transactions involving Northern Ireland firms that have been announced this year according to the latest league table from global information services company Experian.

Over the same period in 2013, there were just 79 deals announce

The total value for the north at £1.67bn was 134.7 per cent up on last year - against an average rise of 32.6 per cent in Britain.

Carson McDowell acted on 20 deals making them the best local legal adviser.

A&L Goodbody took top spot in the stakes after it worked on the Moy Park acquisition.

Charles Stanley and Goodbody were joint top of the financial advisors volume league table for

Goldman Sachs taking the value table top spot.

According to Experian, 29 deals were in the manufacturing sector amounting to £1.09bn - two-thirds of the overall total.

The second biggest deal in the north this year was the sale of UDG Healthcare's Irish pharmaceutical distribution businesses including  Sangers to the American owners of Lloyds Pharmacy.

The £300m deal also included United Drug Supply Chain Services business, TCP Group and British-based travel healthcaare business MASTA.

Neasa Quigley, joint head of the corporate team at Carson McDowell said the increase in deal activity found by Experian, "bears out our own experience and reflects the mood of quiet confidence that is slowly permeating the business community".

"While the high value transactions will always attract the headlines, it is really encouraging to see the level of M&A activity amongst SMEs has jumped by 58 per cent this year," she added.

A&L Goodbody corporate partner Peter Stafford said his firm's placing was "testament to the hard work and industry-leading expertise of our team of corporate lawyers".

“In the first nine months of 2015 we have been struck by the variety of deals in Northern Ireland, both in terms of value and sector. We continued to act on a number of major international transactions such as the acquisition of the Old Bushmills Distillery Company by Mexican tequila giant Jose Cuervo and the disposal by United Drug Group Healthcare of its pharmaceutical distribution division."