It's a deal as Tughans maintains top advisor ranking
BELFAST-based law firm Tughans has topped the Experian Deal Review and Advisor League Table for the second year running for the number of deals completed in Northern Ireland.
The report saysTughans participated in more than 30 per cent of all local deals - a third more than the next placed legal advisor. And Northern Ireland’s overall deal performance, at 228, was up by 31 per cent since 2015 and twice that of 2014.
Experian said manufacturing was again the most active industry with 69 transactions, a 35.3 per cent increase over the previous year. Second biggest was the wholesale and retail sector which saw deal volumes increase by 115 per cent to 58, with financial services also seeing a substantial 238 per cent increase to take the third spot on 44.
Tughans’ submissions to Experian included a spread of transactions across multiple sectors including manufacturing, technology and energy, and multiple jurisdictions, such as the sale of indigenous tech company Sophia Search to Californian based Mixaroo, and the sale of Path XL to Phillips, headquartered in Holland.
One notable exception in the Experian tally, due to the report’s criteria, was the firm's work on the multi-million pound Randox Healthcare sponsorship with the Jockey Club, incorporating support for this April's Grand National.
Patrick Brown, managing partner at Tughans, said: “The last year has been strong for the firm having advised in 31 per cent of all M&A transactions in Northern Ireland representing 62 per cent of the total gross deal value and 38 per cent more than the next ranked legal advisor.
"The number of deals we completed has doubled from 2015, a positive sign that despite continuing uncertainty in the economy there is still significant activity and clients are placing their trust in us to deliver the high quality legal services required to support and execute their strategic plans.”
“Although the headline making deals have come from the manufacturing sector – our largest Experian deal this year was the sale of local company Delta Print & Packaging to Huhtamaki for £80 million – the deal volumes have be bolstered by active technology and real estate sectors and a marked increase in investment activity.”
The report was carried out by the UK and Ireland division of global information services company Experian and the Northern Ireland league tables form part of a detailed review of deal transactions in 11 UK regions and the Republic of Ireland.