Blake Morgan accelerates Welsh business growth with £225 million in corporate deals

Law firm Blake Morgan acted on more than £225 million worth of deals in Wales in 2017 including advising on 13 investments made by the Development Bank of Wales.

Led by Partner Rob Cherry, 2017 client deals included Brighter Foods, Templegate Electrical Supplies, BSN Social Care, Orbis Education & Care, Amberon and LDC. The value of deals, which includes management buy-outs, disposals and acquisitions, totals £225 million over the 12 month period.

Equity investments in technology start-ups Paperclip, Cotton Mouton Diagnostics and Welsh energy business Trameto were just three of the 13 deals completed by the development bank with advice from Blake Morgan.

Richard Jones and Alex Butler of Blake Morgan lead the team advising the development bank. Richard says: “ 2017 was a fantastic year for our team in Wales, with a superb total of 29 deals totalling £225 million having been completed. We were particularly pleased to continue our long-standing relationship with Finance Wales as the newly formed Development Bank of Wales.

“It is easier than ever before for businesses to get the capital they need to start-up, strengthen and grow. The launch of the development bank late last year means that there are new funds, more finance available and extended lending terms. In total, £440m is being made available to Welsh businesses with further funds already under development.

“We are proud to have worked with so many ambitious and dedicated entrepreneurs. Given the uncertainty around Brexit, it is particularly encouraging to have seen such a buoyant year in 2017 along with a good pipeline of deals as we go in to 2018. Despite the doom and gloom surrounding Brexit, the signs for 2018 are definitely promising here in Wales.”

Chris Griffiths of the Development Bank of Wales adds: “The team at Blake Morgan is highly regarded and we always value and share their pragmatic and highly commercial approach. We’re here to help businesses based in Wales succeed. Success breeds success – as the businesses we fund thrive and repay us, the money is re-invested.. This means that the capital doesn’t just help businesses succeed now, it funds the next generation of Welsh success stories too.

“There is finance available to support businesses based in all corners of Wales whatever their stage of business. Micro to medium businesses are vital to the Welsh economy and that’s why we are absolutely committed to working with business industry groups, the private sector and Government to ensure that the right support is available. We all share a very real commitment to making sure that the conditions in which growing businesses can thrive are firmly in place.”

The Development Bank of Wales offers a range of loans and equity investments, which can be paid back over periods up to ten years.  There is a wide range of finance available from £1,000 up to £5 million.

Blake Morgan has an international portfolio of multi-national client companies (public and private), SMEs, owner managed businesses and start-ups with a need for high-quality corporate and M&A support and advice.

The 11 strong corporate team in Wales is based at One Central Square. The team is acknowledged within the legal industry and in the independent legal directories, for providing a first-class level of service across a wide range of transactions including mergers, acquisitions, sales, private equity and joint ventures. The 2017 edition of the prestigious Legal 500 Directory The Legal 500 lists 16 Cardiff-based Blake Morgan Partners as “leading individuals” – the highest accolade the directory can give.