Labour’s first budget brings a close to a hectic period of merger and acquisition activity at BHW.
On 30th October Rachel Reeves delivered the first budget of the new Labour government, and the first budget ever delivered by a female Chancellor of the Exchequer.
In the end, although the rates of capital gains tax were raised, some of the more extreme predictions in the media didn’t come to pass. However, concerns for potential changes spurred a once-in-a-generation spike in transactional activity in the run-up to the budget, as business owners rushed to avoid being hit with an increased tax bill.
During the month of October, BHW advised on 22 transactions with a combined value of over £125 million. Most of these completed in the week leading up to the budget. By comparison, during the whole of 2023 the combined value of the transactions BHW’s corporate and commercial team advised on was just over £450 million.
BHW’s Managing Partner and Head of Corporate and Commercial, Ed Nurse, commented:
“The fact that our corporate and commercial team has been able to deliver for our clients in this way is a testament to both the quality and commitment of the team. Last year was a record for us, so to have completed transactions in just one month with a combined value over 25% of the 2023 full-year total is truly remarkable.
BHW is the leading independent law firm in our region, which means that 100% of the work we do is both generated and serviced from our offices at Grove Park in Leicester. Our focus has always been to provide the highest levels of service to a client base which extends across the East Midlands and beyond. The continued success of the corporate and commercial team, and the wider firm, is a testament to this approach.
Following the budget, the transaction pipeline remains very strong, so although the frenzy of the last few weeks is now behind us, there is no question of our team resting on their laurels! BHW is grateful to our clients for the faith they continue to place in us and is looking forward to continued success for the remainder of 2024 and beyond.”
Categorised in: Corporate and Commercial, Deals, Leicester Solicitors, News
Tags: BHW Solicitors, Business Sale, Company Law, Leicester Solicitors, Mergers and Acquisitions