The corporate and banking teams at law firm Shakespeare Martineau have supported a record-breaking £6.6 billion-worth of deals during 2024 across a range of sectors, with an average deal value of £18 million.
Experts in mergers and acquisitions, fast-growth businesses, investment funds and finance, Shakespeare Martineau’s corporate team has expanded to meet client demand over the past year, including partner hires across its Sheffield, Southampton and London hubs, as well as the appointment of a six-strong healthcare specialist team.
Sector deal highlights include technology and healthcare, as well approximately £1 billion-worth of deals in the energy sector alone.
Notable transactions include an exclusive structured trading agreement between Utilita and EDF for the provision of wholesale market services; the strategic disposal of April Six for AIM-listed client The Mission Group to US firm Marketbridge; a management buyout for Wade Building Services; and the integration of Bromsgrove-based Trebor Developments into Texas company Hillwood Investment Properties.
The firm’s single largest deal came in at £2.9 billion for an undisclosed fund manager.
Michael Stace, partner and head of corporate, said: “Despite deal volumes declining globally, our team has seen growth in transaction numbers and size driven in part by the investments we have made in the team over the past 12 to 18 months.
“The mid-market was reasonably buoyant in 2024 with certain sectors – such a technology, healthcare, energy and business services – being particularly active. Naturally, the autumn budget sped up a number of transactions in the second half of the year, while others held-off, showing caution in their approach.
“I’m expecting to see continued consolidation in the healthcare sector, more deals in technology and AI, in particular, in 2025, and increasing activity in the green energy space. While the market isn’t brimming with confidence, our deal pipeline is stronger than it was in January 2024 and we’ve continued to invest in our team so I’m feeling optimistic about 2025.”
Recent appointments into the corporate team include partner Dean Chauhan in the East Midlands and Laura Giles as a legal director in Sheffield.
Head of banking Naomi Tudor said: “With a buoyant transactional marketplace – especially in healthcare – we have seen a large number of instructions from our lender clients and 2024 has been a very busy year for the team. There is definitely an increase in deal activity from previous years and this looks set to continue into 2025.
“The economic outlook is likely to be driven by several key factors, including uncertainty around trading arrangements with the US, a less expansionary budget and proposed changes to the planning system for housing and development. However, in an environment of stabilising and reducing borrowing costs, the team’s practice looks set to continue its growth trajectory, particularly in the SME and mid-corporate sectors across a varied finance offering, including development finance, acquisition finance and general working capital finance, and the team is forecasting another busy year in 2025.”
