Browne Jacobson banking team on course for record year

Browne Jacobson’s banking & finance team is on course for a record year of growth after generating like-for-like fee income growth of 30% for the period May – December 2017.

The team advised on transactions valued at over £500m during the same period in 2017 and with a heathy pipeline is on course to have a record breaking financial year.

Flagship deals have included advising CYB on the facilities for the acquisition of W . Corbett & Co (Galvanizing) Limited (private equity provided by Ardenton Capital), acting on the acquisition of Medical Solutions UK Ltd by London based private equity investment group Marcol Health and advising AIM listed Belvoir Lettings on its acquisition of Brook Financial Services.

The firm has also recently launched a new banking team in Manchester with Jonathan Edwards, the former national head of banking at DWF, being appointed as the new head of banking for the North West. Jonathan will be joined by Melanie Chisnall, a solicitor who trained with the firm and qualified into the firm’s Manchester office (now situated in the city’s landmark new development – No 1 Spinningfields).

Emma Hinton, Birmingham based banking partner, said:

 “It has been an excellent year for deal makers in the West Midlands with a spike in buy-out activity especially in the mid-market and bolt-on acquisition activity in the larger corporate sector.  We are still unsure what impact Brexit will have on the deals market but for the time being our pipeline remains very strong and we are confident this momentum will continue well into the next financial year.”

Paul Ray, National Head of Banking at Browne Jacobson, said:

 “We have seen significant growth across the practice over the last few years.  The last nine months have been particularly busy culminating in a number of important panel wins and the establishment of a new banking team in Manchester is a huge vote of confidence in the practice by the partnership.

“Going forwards we expect to see growing levels of activity and interest from lenders and investors in the residential construction, med tech and commercial health sectors. However for others 2018 will remain challenging. Retailing and the casual dining sector will continue to feel the effects of rising operational costs, changing consumer tastes and the squeeze on disposable incomes. The impact on the commercial construction sector following the collapse of Carillion will also be felt for some time to come.” 

Browne Jacobson’s banking team has extensive expertise in all aspects of banking and finance from corporate lending transactions, real estate financing, acquisition and leveraged finance to asset based lending, debt refinancing and restructuring work.  In 2017 the team enhanced its rankings in the two key legal directories, Legal 500 and Chambers & Partners with clients commenting

“what we like about them is that they are commercial….they will give you a problem and a potential solution”.

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