Deloitte strengthens specialist equity capital markets practice in the North West

August 2024 – Following the launch of the Corporate Assurance Hub in 2019, professional services firm Deloitte has established a market-leading regional equity capital markets (ECM) hub based in the North West, broadening its services to large corporates.

With the recently announced changes to Listing Rules in the UK alongside improving market conditions leading to an increase in corporates considering coming to market, Deloitte has invested in a North West team of ECM practitioners that will support clients looking to transact in both the UK and US markets with all aspects of their capital markets transactions. The team’s expertise includes preparing for and delivering IPOs, provision of end-to-end M&A support for acquisitions and disposals, financial carve outs and transaction readiness and execution.

Having built strong ECM credentials both in the North West and the broader regional market, Deloitte’s ECM hub is a landmark development for the firm, providing specialist financial advisory and assurance services to a range of local, national and international clients.
The multi-disciplinary team will be led out of the firm’s Manchester office by Deloitte’s Head of Regional Assurance, Tim Grogan, and Iain White who is a Financial Advisory Partner in the firm’s specialist ECM transactions services team. Tim and Iain will be supported by Katie Harrison, Pete Braddock and Raza Mian who are all Partners specialising in financial controls, historical financial information and complex carve out financials.

Notable recent transactions that the team supported on include Morrison’s disposal of the Petrol Forecourt business, the demerger of Dowlais Group plc from Melrose plc and subsequent IPO and Bridgepoint Group plc’s acquisition of Energy Capital Partners in addition to a number of IPO readiness projects.

The new team comes at a time of significant growth for Deloitte’s North West practice, as the firm sets its sights on continued growth in the region. Having grown its headcount to over 1,400 people for the first time, in July the firm moved into its new state-of-the-art office at 100 Embankment, representing a bold next step for the regional practice.

Jo Ahmed, Practice Senior Partner for Deloitte in the North West commented: “The investment in a dedicated ECM hub based in the North West is a significant development for the regional IPO market. Our Corporate Assurance hub has gone from strength to strength over the past five years, and in that time, we have seen particular demand in the North West market for specialist advisory services as corporates look beyond London. With equity capital advisors predominately based in the capital, we’re passionate about driving the growth of transaction services in the region through our advisory capabilities.”

Tim Grogan, Deloitte’s Head of Regional Assurance said: “Having supported corporate entities in the equity capital markets for years now, establishing a dedicated and specialist ECM team based in Manchester is an exciting next step for our practice. With IPO markets expected to strengthen as we go through the second half of 2024 and particularly into 2025, the formalisation of our team comes at the perfect time for corporates preparing to go to market.”

Iain White, ECM transaction services Partner at Deloitte added: “It’s an exciting time for the regional market and establishing an ECM hub in the North West is reflective of the growing demand for local capital markets expertise that we’ve experienced over recent years and which we expect to be stimulated following recent changes in the Listing Rules. Domestic and overseas IPOs remain an attractive option for successful businesses, and we are passionate about supporting these businesses on their IPO journeys and helping existing listed corporates execute their M&A strategies. Our experienced team will continue to work with existing clients, while also forging new relationships to help lead regional corporates through the most complex and intricate transactions.”

The above news comes as Deloitte launches the latest edition of its ECM update which presents perspectives on the recovering IPO markets and detail of the long awaited UK capital markets reforms.
ECM update