North West private equity exits hit £2bn in 2015

Private equity exits in the North West remained steady in 2015, with the region seeing 26 transactions worth in excess of £2bn, according to new data.

Figures from the Centre for Management Buyout Research, sponsored by investment firm Equistone Partners Europe, have revealed that the North West boasted the highest number of exits outside London for the third year running.

The region saw a number of high-profile exits to the public markets in 2015, including the £725m IPO of Shawbrook Bank achieving an exit for Pollen Street Capital, and Cheadle-headquartered travel retailer On The Beach, backed by Inflexion Private Equity, joining the stock market with a £240m listing.

The North West saw 25 new buyouts completed over the last 12 months, making the region the North’s most active in terms of volume.

Equistone Partners Europe’s partner for the North of England, Steve O’Hare, said: “The North West private equity market has demonstrated its resilience in 2015 with the appetite for buying and selling businesses remaining high over the last 12 months.

“Private equity houses have different potential exit routes to consider for their investments, with the public markets still providing one route as proven by Inflexion’s sale of On The Beach.”

He continued: “The market has gained momentum towards the end of the year and we expect both the investment and exit markets to remain strong in 2016 due to the high level of latent debt and equity funding available, combined with the quality businesses based in the North West.”