Manchester investment bank Altium sees deal values exceed £1 billion

Manchester-based international investment bank Altium has enjoyed a bumper Q3, with the group’s deal values for the quarter exceeding £1 billion.

During the third quarter, Altium has completed 15 transactions worth a total of £1.2 billion.

Significant deals for the group during the period include advising on the sale of online fashion retailer mytheresa.com to one of the world’s best known luxury department stores, and US based Neiman Marcus in September.

They advised private equity firm KKR on its acquisition of a stake in the online classified business, Scout 24; advising on the sale of independent luxury watchmaker Ulysse Nardin to Paris-based luxury and lifestyle group Kering (owner of brands such as Gucci, Alexander McQueen and Saint Laurent).

Altium’s Manchester office was also active during the period, playing an integral role in the $100 million creation of scientific laboratory and consultancy business Concept Life Sciences by Equistone, advising on the sales of Resource & Environmental Consultants (REC) and Scientific Analysis Laboratories (SAL).

In addition the team advised business process outsourcing firm, Enterprise Foods on its investment from Hattington Capital and also advised the shareholders of Cotton Traders on the acquisition of Next plc’s 33% stake in the business.

As well as having a very active quarter for deals, Altium also started its UK debt advisory business with the high profile hiring of managing directors, Richard Clark and Simon Chambers from DC Advisory.

Phil Adams, chief executive of Altium, said: “We have been delighted to help our clients complete some very high profile deals in the period. We are continuing to see very strong cross border buying interest particularly from the US.

“Being an established business with deep global reach enables us to source the right partner for our clients in a way many of our competitors are unable to.

“It is a core feature of our business that we are able to give truly independent advice which involves being able to source UK and international private equity, public markets funding and international trade buyers equally well for our clients”.