Business News Round Up (21/02/2020)
Mid-market PE investment remains resilient in Scotland
Mid-market private equity deal activity remained resilient in Scotland last year, despite ongoing political and economic uncertainty as cash-rich investors showed they were ready to back firms with growth potential, according to a new report. Analysis by KPMG found that there were 32 deals in Scotland, almost unchanged compared to 2018 where 34 were completed. The combined value of last year’s transactions was more than £2.77 billion – a rise of £790 million. Across the UK, the middle market saw a drop in deal volumes, recording 532 deals in 2019 compared to 623 in 2018, but the combined value of these deals hit £39.9 billion – representing a five year high.
https://scottishbusinessnews.net/2020/02/21/mid-market-pe-investment-remains-resilient-in-scotland/
New property report hails Manchester’s ‘strength and resilience’
Manchester’s property market has been praised for its ‘strength, profile and resilience’ against a backdrop of wider geopolitical and economic factors, according to a new report by professional services firm Deloitte. In its annual 2020 Crane Survey, Deloitte measured the volume of development taking place across Central Manchester’s residential, student and commercial property sectors and found the number of completed property schemes in Manchester reached its highest delivery since 2016 at 3,619, 15,500 new jobs will be created by new office completions, generating £309 million in wages, 40% of all office space currently under construction in the city has already been pre-let by companies, with just under half of this taken up by businesses from the technology, media and telecom sector. However, with current new supply unable to sustain population growth past 2021, Manchester remains under supplied in the residential market, making it a huge opportunity for potential investors.
https://selectproperty.com/2020/02/new-property-report-hails-manchesters-strength-resilience/
Harper Macleod to help Glasgow City Council drive business growth among city’s SMEs
Scottish commercial & personal law firm Harper Macleod has been chosen by Glasgow City Council to drive forward business growth in Glasgow over the next three years. The firm is one of the consultants chosen to provide advice to SMEs through the Business Growth Consultancy Framework, which aims to deliver sustainable growth and improve business start-up and survival rates. Glasgow City Council’s new Glasgow Business Growth Programme is funded by the European Regional Development Fund through Scotland’s European Structural and Investment Funds (ESIF) programmes and will be delivered by the Business Growth team within Economic Development.
Funder’s investment into Alderley Park reaches £2.5m
The Northern Powerhouse Investment Fund (NPIF), delivered by the British Business Bank, has invested a total of £2.5 million into businesses based at Alderley Park, the UK’s largest single site life science campus. The £2.5 million invested forms part of the NPIF’s £10 million milestone which was established in 2017 to deliver a range of funding option to ambitious, high growth SMEs in the North of England. Alderley Park offers bioscience facilities for life science companies at every stage and is home to over 200 businesses. It includes a range of workspaces, events and a community that encourages businesses to collaborate, innovate and grow.