Deal Of The Year - How 2008 beat all expectations
Apr 3 2009 By Alun Thorne, Head of Business
predicted that a year on and you could buy every investment back in US for less than what RBS paid for ABN Amro.
In these circumstances it is the smaller end of the new issues market that is always first to be hit and IPO market closes pretty quickly in that kind of market – investors are looking for what they are comfortable with and that is rarely new companies with new management teams.
However, while the larger IPO market disappeared – AIM listings were down more than a quarter – it was necessary to look much closer to home and filling the breach was the Midlands’ own online share-trading platform Investbx.
The timing of the launch could hardly have been more challenging but last year’s listing of Key Technologies is more than a worthy winner of the Floatation of the Year award having successfully raised £1.8million in the process and further highlighting Investbx’s potential in nurturing young companies and giving them the opportunity to draw upon the regional investor base. With an excellent set of results earlier this month, who’s to say that when the market returns that we won’t be talking about a IPO in the near future.
Which leads seamlessly into the Special Achievement Award for 2008 which went to serial dealmaker David Grove from Hill and Smith and the man behind the Key Technologies via his Grove Industries investment vehicle.
Unflinchingly loyal to the region, Mr Groves once again proved there is always a deal to be done regardless of the conditions and, more often than not, all the building blocks are right here on our doorstep. His approach may not be rocket science but it fantastically well executed.
Last but not least was the Roger Dickens Newcomer of the Year award for 2008. Despite the conditions, Birmingham was still a city where financial institutions wanted to lay down some roots with almost half a dozen wealth management companies opening new offices here. The prize went to private equity outfit Key Capital Partners.
The firm, launched in 2006, already had offices in Leeds and Cambridge but rather than service the Midlands from afar it decided to open a new operation in Birmingham, recognising the opportunities being offered in the region.
Since then the Birmingham office – led by Owen Trotter – has completed two deals, two more than many of their competitors.
Not bad for the new kids on the block.
> Read the Post's special Deal Of The Year supplement
