An Aberdeen-based corporate finance team has acted for clients on deals valued at £30m since it was set up earlier this year. Hall Morrice Corporate Finance Ltd (HMCF) was established in response to a predicted uplift in deals activity in the north east, and has already been involved in a number of high profile transactions.
Activity undertaken by managing director Tom Faichnie and manager Melanie Gilmour includes advising Scottish Enterprise and the Scottish Investment Bank on their investment into Well-Safe Solutions – a new company for the offshore decommissioning market – and advising on the sales of Bryant Group to Cammach Recruitment and The Law Practice to Aberdeen solicitor Lesley McKnight.
HMCF was also heavily involved in the refinancing of Ace Forwarding Limited, with Clydesdale Bank providing a significant funding package to enable the company to take advantage of growth opportunities.
Mr Faichnie says HMCF has enjoyed a strong finish to 2017 and predicts that the firm’s robust performance will continue in the new year. It also has a number of transactions ongoing over the year end fully expects the current momentum to continue.
He adds, “HMCF has made a significant impression in a few short months, and we believe that we will continue to see an increase in deals activity at the start of 2018 and throughout the year. The mood in Aberdeen and the north east is much more optimistic than it has been for some time.
“Financial results over the past year are showing that businesses are recovering from the downturn and the time is now right for those who want to invest to make a move. There is no doubt that there is a growing sense of confidence in Aberdeen and that is not going unnoticed by investors.”
HMCF largely focuses on working with corporate entities and private equity houses seeking to invest in oilfield services companies, but has supported a range of businesses, including fast moving consumer goods and professional services.
The firm undertakes a range of corporate finance and financial due diligence services, offering a comprehensive support package from initial identification and assessment of opportunities, to raising the finance needed to conclude the deal.
It has relationships with a number of private equity houses based in Aberdeen and across the rest of the UK. Mr Faichnie adds, “The north east has had a bad press in recent years as a result of the downturn in the North Sea and as a consequence, investors have been nervous of investment opportunities.
“But they can now see the hard evidence that businesses are starting to recover and appreciate the opportunities that exist in this region. They are aware that they need to get ahead of the game, so we anticipate that deals activity will continue on a strong path in the next year.”