Scots deal flow matches London

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SCOTLAND has completed as many private equity buyouts as London in the first three months of 2013, according to the latest data.

There were four Scottish deals worth a total of £134 million, double last year’s tally over the same period when £45m changed hands. London’s four deals this year were valued at £482m.

The data from the Centre for Management Buyout Research (CMBOR), sponsored by Equistone Partners Europe and Ernst & Young, also shows that Scotland completed more private equity buyouts by volume than some other parts of the UK, including the East Midlands and the south-west of England.

Of 33 private equity buyouts in the UK, worth £3.2 billion, six were in manufacturing (worth £418m), six were in business and support services (£498m), five were in retail (£1.2bn) and four were in leisure (£798m).

The largest deal in Scotland in the first quarter was the sale of oilfield services group Hydrasun by Equistone to alternative investment group Investcorp in a deal valued at more than £150m.

Steve O’Hare, director of Equistone Partners Europe in the north, said: “Transaction volumes in Scotland have been promising in the first three months of the year.

“Clearly this demonstrates the confidence prevalent in the market and is an encouraging start to the year.

“The energy sector in particular continues to boost Scotland’s private equity dealflow.”

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