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North West leading region for private equity
The North West accounted for just over a fifth of all UK private equity buyouts during the first half of 2012.
New research from the Centre for Management Buyout Research, sponsored by Equistone Partners Europe and Ernst & Young, suggests the North West was the leading region behind London with £1.9bn.
The capital registered £2.9bn worth of private equity buyouts.
The region's figure was swelled by the buyout of supermarket chain Iceland, which accounted for £1.5bn out of the 12 deals worth £1.9bn in the North West.
That figure is a 103 per cent increase in value on the 13 deals, worth a total of £938mn, which were completed during the first two quarters of 2011.
Meanwhile, the region suffered a slower Q2 of 2012, with five deals completed totalling £270m, in line with the £247m from four deals in the same quarter last year.
Steve O'Hare, head of Equistone Partners in the North, said: "Whilst economic conditions remain weak, good quality management teams and business can still see growth and attract funding."
Mark Clephan, M&A director at Ernst & Young, added: "It is encouraging to see a rise in buyout values in the North West, but we should remain cautiously optimistic.
"Although activity is showing signs of improvement on last year, it is all relative, and there is still a lack of quality assets coming to market."
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