Weightmans’ corporate team in Newcastle is celebrating a record year of deals, as the aggregate value of transactions increased by 30% in 2019.
In 2018 the award-winning team, led by corporate Partner Duncan Reid, advised on North East deals to the value of £192.4m – in 2019 this exceeded £256m. Averaged over the year, the team completed a deal every 4 days.
Notable transactions include advising engineers GadCap Technical Solutions Ltd on its MBO process in February, and Lucion Services on its Palatine Private Equity-backed MBO in May. In addition, the team completed a series of transactions for Accelerated Digital Ventures, Lok Developments and led on a number of successful deals within the tech and financial services industries – with 44 and 13 completed for the respective sectors.
The nine-strong corporate department were recognised for their exceptional work with two business accolades at the North East Dealmakers Awards and a series of legal directory listings. The firm also welcomed two newly qualified solicitors and promoted Kirsty Adamson to Principal Associate last month.
Weightmans established a presence in Newcastle in October 2019 following the acquisition of Watson Burton.
Duncan Reid said: “There’s no doubt that this year has been an exceptional one for our corporate team – we have worked hard to secure the best outcomes for our clients and these figures, our legal directory rankings and award recognition are testament to this.
“The North East market has shown incredible resilience and despite some political uncertainties that may have caused economic disruption, the region has remained a place of significant investment and we are delighted to have been able to assist our clients with their ambitious plans for growth.
“We’re proud that we’ve evolved alongside our clients, welcoming new experts to the department and promoting our finest talent. It has truly been a team effort, and together we’re looking forward to a busy and productive 2020.”