Big opportunities for the deal market in 2009
The deals market in the North East will remain strong in 2009, according to a regional firm of accountants.
According to Corpfin, part of the Experian Group, RMT was the most active dealmaker in the region for the last quarter (July to September). 204 deals have taken place throughout 2008 in the North East.
Maxine Pott, corporate finance partner at RMT, said about the current economic climate: “Transactions are taking longer to complete and decisions have been delayed due to the level of uncertainty in the economy. However it is pleasing to see a continued appetite for activity in the corporate finance sector.
“It is impossible to know exactly how the economy will play out, but with regard to the deals market, there are likely to be huge opportunities at the end of the recession. The most successful businesses of tomorrow are being planned today.”
RMT has dealt with £40m in deals over the last twelve months. Corporate finance director Martin Stephenson is also the top individual dealmaker in the region this year.
Maxine Pott said: “Despite being faced with the ‘credit crunch’ and rising costs, there remains a healthy level of optimism in the North East business community. We think the opportunities are there for the deal market and look forward to seeing what 2009 brings.”