AAB releases deals and update for first quarter of 2020

AAB releases deals and update for first quarter of 2020

Anderson Anderson & Brown Corporate Finance (AAB) has released its quarterly deals and update for Q1 2020, highlighting selected M&A and fundraising transactions across Scotland.

AAB said that with the current coronavirus pandemic wreaking havoc globally, financial markets faltering and a geo-political oil price war unfolding, it is clear that we are in unprecedented times that are proving far more sinister than could ever have been imagined at the beginning of the quarter.

The firm has urged that despite some positive relief in the equity markets with the recent announcements from the UK Chancellor of the Exchequer coupled with banking stimulus packages, the outlook for the global economy still paints a bleak picture at present.

However, AAB has said that despite the events of the last few weeks, mergers and acquisitions (M&A) activity across Q1 2020 remained relatively strong with a number of stand-out transactions.

One such example is the acquisition of Rowan Manufacturing and Smith & Frater from Rowan Group by leading timber specialist James Donaldson Group and Hunting Plc’s acquisition of subsea production enhancing specialist Enpro Subsea for £28 million.

AAB also highlighed that fund-raising activity in Q1 2020 was led by a number of emerging technology companies, including health and safety software provider SHE Software’s £7m Series B round led by Frog Capital and Mercia.

A stellar deal during the quarter was leading digital oil & gas platform Xergy’s successful £1.8m raise form private individuals.

AAB said: “These are certainly unchartered waters for the modern world, and whilst we face difficulties, we are here to offer guidance and support as your circumstances may change. Please do get in touch if we can be of assistance through this very difficult period for all of us.”

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