Skip to main content
All Posts By

SophieR

Bishopsgate Continues To Expand Team

By News

 

Bishopsgate is excited to welcome two additional members to the growing team, Jacob Pattison as Associate Director and Bikram Randhawa as Manager as it continues to attract and add top quality talent to its dealmaking team.

Jacob is an experienced Corporate Finance professional having qualified as a Chartered Accountant at PwC. Most recently, he has specialised in the Technology and Telecoms sector at Knight Corporate Finance, where he worked on a variety of transactions with enterprise values ranging from £5 million to over £30 million. His expertise lies in working with owner-managed businesses, guiding them through successful exits.

Some of his notable transactions include the sale of BSAS Telecoms to SCG Connected, the sale of Daly Systems to LDC backed Onecom and the sale of Enable X to listed Gamma PLC.

Jacob’s proficiency in the technology space complements Bishopsgate’s sector specialism perfectly, adding further capabilities in Telecoms and Managed IT Services / MSPs.

Bikram is a Chartered Accountant and joins after over seven years’ experience at both Mazars and PwC, most recently as a manager in PwC’s Capital Markets team. He brings with him market leading experience in capital markets execution & advisory, reporting accountant services and due diligence experience.

During his career he has been responsible for delivering complex, high profile and key strategic projects for businesses, including IPOs, M&A, divestitures and reorganisations, both domestic and cross border. He has worked across a variety of different sectors and in organisations of varying size from large FTSE100 institutions to early-stage organisations.

Bikram has worked on several key notable projects, including Vistry Group’s £1.27bn acquisition of Countryside Partnerships, Wheels Up acquisition of Air Partner plc, Draper Esprit plc move up to LSE main market and the EasyJet Plc purchase rights for Airbus fleet deal.

James McBain Allan, Partner, Bishopsgate Corporate Finance comments:

“These new hires are a key component of Bishopsgate’s strategic growth plan, underscoring our commitment to bringing on board seasoned professionals with Big-4 and Boutique Corporate Finance backgrounds to drive our business forward.

“Jacob and Bikram have joined us at a pivotal time for business owners and entrepreneurs, who are facing an unprecedented surge in interest from international buyers and Private Equity investors. Their expertise and insight will be instrumental in maintaining the exceptional service that has become the hallmark of Bishopsgate.”

 

Bishopsgate shortlisted for three awards at East Midlands Rainmakers Awards

By News

The shortlist for the inaugural East Midlands Rainmakers Awards, celebrating the corporate finance individuals and teams responsible for the top deals of the year, has been revealed and Bishopsgate has been shortlisted for three awards:

  1. Corporate Finance Advisory Team of the Year
  1. Medium Deal of the Year (£10m-50m)
    • The sale of Buttress Group to H2 Equity Partners
      Browne Jacobson, Eversheds Sutherland, Bishopsgate Corporate Finance, Hillier Hopkins, PwC
  1. Rainmaker of the Year
    • Morgan Atherton, Managing Partner, Bishopsgate Corporate Finance

Finance professionals from 40 firms gathered at Nottingham College’s City Hub to select the shortlist from the individuals and teams responsible for arranging hundreds of deals, mergers and acquisitions over last 12 months.

The awards will be presented at a relaxed evening of celebration at the Crowne Plaza in Nottingham on Thursday November 21 2024.

Bishopsgate Announces Two New Team Members

By News

 

Bishopsgate Corporate Finance is delighted to announce the addition of two new experienced dealmakers to the team, Mohamed Karim as M&A Director and Cameron Rothwell as M&A Manager. Mohamed and Cameron are the first of five new hires joining the firm over the next few weeks as the business continues to grow strongly.

Mohamed has more than 12 years of experience, having spent his career at both Grant Thornton and KPMG, most recently in the Business & Tech Enabled Services M&A team at KPMG advising on a range of private company transactions in the mid-market, including acquisitions, disposals, buy-outs and raising finance. Deal sizes range from £10 million to £200 million+ and he brings significant cross-border capabilities, having completed transactions with counterparties across North America, Europe and APAC.

He has been shortlisted for ‘Emerging Dealmaker of the Year’ at the Central & East Dealmakers Awards for consecutive years and was a key contributor on ‘International Deal of the Year’ in 2021 and 2022.

Recent notable transactions include:

  • The sale of Goodfellow (Metals and Materials) to US Private Equity House Battery Ventures
  • The sale of Go Ape USA to Sun Capital Partners
  • The sale of Revolt, a market leading ESG consultancy to Carlye backed strategic, Anthesis

Commenting on his new role, Mohamed said “I am delighted to be joining Bishopsgate Corporate Finance at a time when the firm is growing at pace. Bishopsgate is renowned for its outstanding, client-centric approach that delivers exceptional results and I am looking forward to being part of this exciting growth journey.”

Cameron joins as a Corporate Finance Manager and brings with him over 6 years of experience in advising SME’s and family businesses. He graduated from UCL with a degree in Economics before achieving his ACA qualification and subsequently moving into lead advisory throughout Cambridgeshire and the surrounding areas.

Recent notable transactions include:

  • The sale of Shoreside Law to Davies legal solutions business Keoghs a top 40 UK law firm.
  • The MBO of Prestige Purchasing a specialist in procurement services to the foodservice sector.

Morgan Atherton, Managing Partner at Bishopsgate Corporate Finance comments:

“Bishopsgate Corporate Finance continues to thrive as the premium boutique M&A advisor in the Midlands and across the UK. Having such high calibre candidates join the team is testament to our continued success and ambition to grow the business. Both Mohamed and Cameron have exceptional reputations in the market and bring with them a wealth of experience and knowledge. They have industry-leading technical excellence and a wealth of experience but also a passion and entrepreneurial spirit that align perfectly to Bishopsgate’s values.

“It is an exciting time for Bishopsgate and the Corporate Finance market as a whole. There is significant pent-up demand in mid-market M&A across the UK and we have already seen a surge in activity resulting from many strong tailwinds.  The business has invested heavily in both its IT and physical infrastructure in recent years which we’re now supplementing with a strong new cohort of M&A professionals to build on our increasing momentum and continue to provide premium quality advice to a growing number of amazing clients”

 

 

The Pitfalls of an EOT (Employee Ownership Trust)

By Insights

While Employee Ownership Trusts (EOTs) can offer several advantages, such as enhancing employee engagement and providing tax benefits, there are also potential downsides that can make them less attractive. Here are some reasons why EOTs might be considered unfavourable:

1. Complexity and Cost of Setup:

Establishing an EOT can be complex and costly. The process involves legal, financial, and administrative work, including setting up the trust, valuing the business, and ensuring compliance with relevant regulations.

2. Dilution of Control:

Original owners may lose some degree of control over the business. Decision-making processes can become more complicated as employees have a say in major business decisions, potentially leading to slower decision-making and conflicts.

3. Potential for Reduced Management Efficiency:

If employees lack the necessary skills or experience in managing the business, it can lead to inefficiencies. Employee-owners may not always have the same level of business acumen as professional managers or the original owners.

4. Motivation and Performance Issues:

The assumption that employee ownership will automatically lead to higher motivation and productivity may not hold true for all businesses. If not managed well, it can lead to complacency among employees, particularly if they perceive ownership as a right rather than a responsibility.

5. Financial Risk:

The financial stability of the business can be at risk if employees are not committed to reinvesting in the business or if they push for higher distributions of profits rather than funding growth or necessary investments.

6. Challenges in Selling the Business:

An EOT can make it more difficult to sell the business in the future. Potential buyers might be deterred by the complexities of dealing with an employee-owned structure.

7. Limited Access to Capital:

Businesses owned by EOTs might find it harder to raise external capital. Investors may be wary of the governance structure and the potential lack of alignment between employee-owners and external shareholders.

8. Cultural Resistance:

Transitioning to an employee-owned model can be met with resistance from employees who are not accustomed to or interested in the responsibilities of ownership. This cultural shift can be difficult to manage and may lead to dissatisfaction or turnover.

9. Regulatory and Compliance Burdens:

Maintaining compliance with legal requirements for EOTs can be onerous. There are specific rules and ongoing obligations that need to be adhered to, which can be time-consuming and require expert knowledge.

10. Potential Tax Implications:

While there are tax benefits, there can also be tax complications. Mismanagement of these aspects can lead to unexpected tax liabilities for the business or its employee-owners.

While EOTs can be a powerful tool for employee engagement and business succession, these potential downsides highlight the importance of careful consideration and professional advice before implementing such a structure.

Bishopsgate Corporate Finance volunteer at Stamford & Oundle Foodbank

By News

The team at Bishopsgate Corporate Finance spent the morning volunteering at the Stamford & Oundle Foodbank. We heard about the invaluable work the Charity does in providing emergency food and support to local people in crisis. The food is donated by schools, churches, businesses and individuals and is packaged into nutritionally balanced food parcels for those in need.

Over several hours the team carried out the annual stock check – a great team building exercise!

The Stamford & Oundle Foodbank is part of a nationwide network of foodbanks, supported by The Trussell Trust, working to combat poverty and hunger across the UK.

Bishopsgate shortlisted for ‘Corporate Finance Advisory Team of the Year’ Award

By News

Bishopsgate Corporate Finance proudly announces that it has been shortlisted for the ‘Corporate Finance Advisory Team of the Year’ at the Insider Media East Midlands Dealmakers Awards 2024.

This recognition serves as testament to the unwavering dedication and hard work demonstrated by our exceptional team and comes on the back of several recent nominations (Ranked 29th in Sunday Times 100 Fastest Growing Private Companies and a finalist for Tech Dealmaker of the Year at the Go:Tech Awards).

We are looking forward to the awards ceremony which take place in May 2024.

Sam Reynolds promoted to Associate Director

By News

Bishopsgate Corporate Finance is thrilled to announce the promotion of Sam Reynolds to Associate Director. Sam joined Bishopsgate in 2023 and has proven himself to be an integral and valued member of the team. We’re delighted with the strong start and impact Sam has made to the business and the team, and we’re looking forward to his continued important contribution to the future success of the business going forward.

Congratulations Sam!

Bishopsgate hosts ‘Exploring the East E-Economy’ Roundtable

By News

Bishopsgate Corporate Finance recently hosted a roundtable with Insider Media at the Romax Technology Centre at Nottingham University. The event was attended by business owners, investors and industry experts who explored how the businesses and entrepreneurs serving the technology sector and digital economy, can grow to the next level.

The participants provided their thoughts and opinions on how the sector could coalesce and show the wider world that it is a major centre for technology and innovation, and what do these electrifying businesses need so they can grow and become the next Ideagen or Access Group? Thank you to the participants for their interesting and insightful views.

https://www.insidermedia.com/roundtables/exploring-the-east-e-economy#Morgan-Atherton