Merger and acquisition activity in the South West climbed by 4.3% in the first half of this year as the economy continued to recover and cash-rich businesses hit the takeover trail.
However, the total value of 267 deals was down 15% at £3.08bn against the same period in 2015. And some experts are warning that market uncertainty caused by the EU referendum outcome could slow activity in the second half. 
Experian’s half-yearly M&A review shows manufacturing was the region’s busiest sector in the half year with 80 transactions totalling £1.7bn while the most active businesses were in the mid-market (£10m-£100m), where volumes were 55% up on last year at 31 deals.
The small (£500,000-£10m) and large (£100m-£1bn) market segments both declined in volume and value terms.
While deal activity almost ground to a standstill during the recession, many firms built up war chests of funds to make strategic acquisitions. Also as values have edged up since the depths of the recession, sellers are now happier to complete deals. Funding is also now readily available.
Accountancy firm RSM was the South West’s most active M&A adviser according to Experian after clocking up 14 deals in the first half of this year – six ahead of its closest rival.
RSM’s top ranking places the firm ahead of both regional and national competitors.
RSM Bristol corporate finance partner Ian Wherry, pictured, said: “The volume of M&A deals in the South West in the first half of the year has been robust, and we are delighted to have been able to advise on more deals than anyone else.
“Given the impact of Brexit, the outlook for the second half of this year is more uncertain but there are still many interesting opportunities for acquisitive clients, both from inside and outside the UK.”
RSM, which employs around 110 people in its Bristol office, previously operated in the city under the Baker Tilly name. It adopted the RSM name last October along with Baker Tilly’s other UK offices, uniting it under a single common brand with RSM audit, tax and consulting firms across the world.
