• Register
Return to: Home > News > Mid Tier > UK Mid-tier accounting firms beat Big Four at M&A advice

UK Mid-tier accounting firms beat Big Four at M&A advice

Grant Thornton, RSM and BDO have taken the top three places for the number of M&A deals for which they acted as financial advisors, in Experian Market IQ’s 2017 survey for mergers and acquisitions in the UK.

However, when it came to transaction values only two accountancy firms were in the top 20 financial advisors, KPMG and EY ranked 16th and 19th respectively. KPMG had earned £7.1m, and EY £5.7m, compared to Morgan Stanley (£62.4m) and Goldman Sachs (£45.m8) took first and second place.

Grant Thornton advised on 165 deals, RSM advised 145, and 128 deals were advised by BDO, with all three also performing well on a regional level. EY was the highest ranked of the Big Four firms, taking sixth place and advising on 86 deals, while PwC came ninth with 81, and Deloitte 18th with 51.

Grant Thornton UK attributed the ranking to a 25% increase in the volume of transactions for the M&A team, totalling £5.5bn, with a quarter of transactions from cross-border deals and 33% involving private equity backing. Yet their total number of deal completions was down by 10%.

Grant Thornton UK partner and head of corporate finance advisory Andy Morgan said: “Whilst the overall deal market experienced some economic and political headwinds, 2017 was a very busy and exciting year for our team.”

He predicted continued growth in 2018: “Valuations remain strong – and perhaps frothy in some areas – however, the level of liquidity in equity, debt and public markets and the continued appetite of international corporates for quality UK assets provides a strong underpin for deal activity into 2018.”

Top Content

    Brazil: regulation and technology form basis for recovery

    Opportunities in the capital markets and the ever-growing influence of technology are expected to have a significant impact on the Brazilian accounting profession over the next 12 months, writes Paul Golden.

    read more

    Mentoring support and the opportunity to delegate

    Jon Lisby will be known to many from his former role as CEO of Kreston International. Here, he explains the background to his new venture, Global Alliance Advisory Services (GAAS), and how he aims to offer support to alliance CEOs.

    read more

    Global by name, global by nature

    Stephen Heathcote became chief executive officer of PrimeGlobal on 1 June 2019. Robin Amlôt met him to discuss the various new challenges that he has taken on, and his ambitions for the association.

    read more

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.