Harper Macleod Surges with Daily M&A Deals Amid UK Budget Anticipation
Deal News | Dec 06, 2024 | EIN
Following Labour's first budget in 14 years, Harper Macleod, a leading Scottish law firm, experienced a significant increase in mergers and acquisitions activity, completing 42 transactions in October. Business owners anticipated tax hikes, including changes to capital gains tax and national insurance, spurring a surge in business mergers and disposals. Despite the anticipated capital gains tax increase not materializing, the fear of future reductions in tax relief continues to fuel M&A activity. Transactions highlighted include the acquisitions by the McGowan Group, London Marathon Events, and Green Fulfilment. The farming industry faces unique challenges, anticipating forthcoming tax implications which may lead to increased asset sales to manage inheritance tax liabilities.
Sectors
- Legal Services
- Corporate M&A
- Agriculture
Geography
- United Kingdom – The article discusses the UK Labour budget and its effects on Scottish law firm Harper Macleod's M&A activities.
Industry
- Legal Services – The article focuses on Harper Macleod, a law firm providing corporate and M&A legal services in response to anticipated tax changes.
- Corporate M&A – Discusses heightened merger and acquisition activity as businesses react to possible tax changes from the UK Labour budget.
- Agriculture – The budget impacts on the farming sector, prompting future asset sales due to inheritance tax liability concerns.
Financials
- 42 transactions – Number of transactions Harper Macleod advised on in October.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Harper Macleod | Advisory Firm | Company | A prominent Scottish law firm specializing in corporate and M&A transactions. |
| Donnie Munro | Senior Partner | Person | Senior partner at Harper Macleod and head of corporate, commercial, and regulatory team. |
| McGowan Group | Seller | Company | Infrastructure and environmental engineering contractor sold to Brush Group. |
| Brush Group | Buyer | Company | Acquirer of McGowan Group. |
| Loch Ness Marathon and Etape Loch Ness | Seller | Event | Sold to London Marathon Events. |
| London Marathon Events | Buyer | Company | Acquirer of Loch Ness Marathon and Etape Loch Ness. |
| Green Fulfilment | Buyer | Company | Glasgow-based sustainable packaging and distribution company acquiring Omni Channel Fulfilment. |
| Omni Channel Fulfilment | Seller | Company | Acquired by Green Fulfilment. |
| Rachel Reeves | Chancellor | Person | UK Chancellor who delivered the Labour budget. |