31 January 2024
We are proud to announce that we have ranked as the No.1 financial due diligence provider, by deal volume, in Mergermarket’s Accounting League Table for 2023 (UK).
In a year that has seen the corporate finance and deals market substantially quieter, affirming our position as the UK’s leading financial adviser to fast-growing entrepreneurial businesses speaks to the strength of both our clients and our teams.
Our deals team completed 205 transactions in 2023, with a combined value of more than £10.5bn. Financial due diligence (FDD) accounted for 79% of these transactions, and private equity 54%. While cross border transactions are down globally, our international transactions totalled 71 for 2023.
Technology, media & telecoms (TMT), financial services, life sciences and professional & business services were our most active sectors, by volume. Against the backdrop of a quieter deals market, financial services and TMT sectors stand out as bucking the general market activity, with increased deal volumes. We have also recorded increased deals volumes in transport, shipping and logistics.
Commenting on this, Derek Neil, Head of Transaction Services at BDO, said: “2023 was a tough year for deal making, with sources quoting anything from a 25% to 75% reduction in activity compared to previous years, depending on the sector. Whilst we saw headwinds, with deals taking longer to complete and an increased focus on diligence, I am delighted that we maintained our position as the most active financial due diligence provider.
We will continue to invest in the Transaction Services and the broader Deal Advisory team to support clients who are planning to navigate the deal-making environment in 2024, particularly enhancing our specialism in sectors, ESG (Environmental, Social, and Governance) and cyber. A heartfelt thanks to our amazing people and clients.”
To view BDO’s Transaction Services deals and to find out how our Transaction Services team can assist, click here.
* Mergermarket UK 2023 accountant league tables