Burness Paull tops legal dealmaking table after transactions worth £31bn

Law firm Burness Paull has been named the top-performing legal dealmaker in Scotland for the fifth consecutive year.

Mark Ellis forecasts a strong Scottish M&A pipeline for 2020. Picture: Conitrbuted

The legal partnership advised on 304 publishable transactions with a cumulative value of £31.4 billion in 2019, according to rankings revealed today by Scottish Business Insider.

This beats Burness Paull’s total from the previous 12 months, when the firm supported 263 deals worth £30.1bn.

Mark Ellis, head of corporate finance, said: “Our corporate and M&A [mergers and acquisitions] team has had its busiest-ever period. Deal volumes have increased because investors, corporates and management teams have cracked on and gone for it. Sitting back and waiting for the world to change is not an option.”

Burness Paull claims to have largest M&A team in Scotland, with more than 60 lawyers.

Ellis said there had been more deals with a global or cross-border element, primarily driven by private equity.

Significant deals in 2019 included the £62.8 million takeover of Aim-listed Murgitroyd Group by Sovereign Capital Partners, the £300m sale of Bluegem Capital Partners’ stake in Liberty London, and the £31m acquisition of Walker Homes by Aim-listed Springfield Properties.

Ellis added: “There have been significant moves towards consolidation in financial services driven by increased regulation and technology. We advised 1825, the wealth management division of Aberdeen Standard Life, on acquiring a series of businesses, including Grant Thornton’s wealth management arm.”

“The pipeline of M&A activity looks strong. We anticipate that energy transition and technology supporting energy efficiency will be a key feature of deals in the year ahead.”