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Corporate Finance

The hunt for value is on as era of ‘easy money’ ends

Economic responses to the Covid pandemic created favourable conditions for corporate deal-making, with cheap money and low inflation driving demand and valuations higher.

Fintech investment remains strong in 2020

At a time when the only certainty was uncertainty itself, fintech investments stood out as beacons of resilience in 2020. Read more in Moore Kingston Smith's review of H2 2020 growth capital investment in the fintech sector.

2020 in review: an extraordinary year for M&A in the UK marketing services and media sectors

45% fewer deals completed in the UK marketing services and media sectors in 2020 compared with 2019 – a huge reduction but not surprising given the impact of the Coronavirus on many businesses. 

2020 in review: a year of two halves for the UK growth capital market

Is Growth Capital bouncing back after a difficult start to 2020? Research conducted by Moore Kingston Smith is indicating an optimistic outlook for the Growth Capital market in 2021.

Early signs of recovery as deal volume increases significantly

UK Growth Capital Update – a review of Q3 2020According to our research into UK private companies raising between £1 million and £20 million of growth equity capital each, 206 British businesses raised £982 million of growth capital in the third quarter of 2020: an average deal size of £4.77 million.

UK Growth Capital Update Q2 2020

UK Growth Capital Update – a review of Q2 2020According to our research into UK private companies raising between £1 million and £20 million of growth equity capital each, 161 British businesses raised £779 million of growth capital in the second quarter of 2020: an average deal size of £4.84 million.

UK Growth Capital Update Q1 2020

According to our research into UK private companies raising between £1 million and £20 million of growth equity capital each, 180 British businesses raised £927 million of growth capital in the first quarter of 2020: an average deal size of £5.15 million.

Valuation Considerations Amid the COVID-19 Crisis

The World’s economic activities have become severely affected since February due to the outbreak of COVID-19. Governments have imposed travel bans, quarantine measures and various business operating restrictions to limit the spread of the virus. This has resulted in unprecedented elevated market volatilities. Stock market indices fluctuations of +/-10% daily are not uncommon. In valuation practice, volatility is translated as risk and a key parameter in pricing an asset. However, quantifying such risk is challenging as the situation is still developing, and there are no clear indications as to when the pandemic will subside.

UK Growth Capital Update – a review of 2019

812 businesses raised £3.42 billion of growth equity capital in 2019 (2018: £3.58 billion across 923 investments). British businesses are therefore securing larger sums of investment than in 2018 as average deal size rose from £3.88 million in 2018 to £4.23 million in 2019.