Partner Article

M&A activity soars

New figures have revealed a 51.9% surge in the value of mergers, acquisitions and equity capital activity involving North East firms this year.

However, according to the data from information services group Experian, the number of transactions has dropped by 20%.

There were 28 transactions in the North East worth £1.51bn in the first quarter of 2010, compared to 35 transactions worth £994m in the last quarter of 2009.

This meant that only 3.02% of UK deals announced in the first quarter had a North East element.

The region’s largest mid-cap move of Q1 2010 saw the US subsidiary of Washington-based Smith Electric Vehicles make a non-binding conditional offer to acquire the assets of the Smith Electric Vehicle division of parent firm Tanfield Group for an aggregate consideration £70m.

One of the most notable small-cap transactions for the North East in Q1 2010 was the £2.65m acquisition by Newcastle-based Vertu Motors Plc of Boydslaw 103 Ltd, a Ford dealership in Dunfermline, Scotland.

This was posted in Bdaily's Members' News section by Ruth Mitchell .