The Big Four are 'turning their backs' on the regions

Fighting talk from A&M's man on the ground in Birmingham

Hello Rainmakers,

Pinch punch, first of the month…

And so the race is on to complete deals by the time Rachel Reeves waves her red box for the first time and proposes to raise Capital Gains tax to hitherto unimageable levels.

We are hearing of due diligence businesses turning work away. We’re hearing of owners deciding to quit the UK. Is this adviser hype to get deals out of the door, or has a collective madness gripped the business community?

Either way, some of our key contacts we’ve approached have got back to say they’re too busy to get back to us. Others have described it as “armageddon” with a mood not heard since the last American boarded a chopper to get out of Saigon.

Let us know your truth. Is this Mad October? And what is going to happen to prices of deals with this looming tax-led deadline on the horizon?

That will be Thursday’s long read, with some shocking stories to share with you. Please get in touch.

For now, we’re bringing you some quality face time with Andy Moody, Alvarez & Marsal’s first Corporate Finance Managing Director in Birmingham.

NEVER UNDERESTIMATE THE STRENGTH OF GOOD LOCAL RELATIONSHIPS

Deloitte's decision to close its regional offices neglected local markets in favour of a more London-centric approach, where the mega-deals reign supreme. 

Its decision to turn its back and concentrate on larger, sector-focused M&A activity mirrors the remaining members of the Big Four - all grappling with profitability challenges in the regional M&A market. 

The closure leaves regional businesses, especially owner-managed and family businesses, underserved, as they rely on local advisors who understand the unique dynamics of their markets. 

It’s providing an opportunity for regional advisors to take advantage of a market where they’ve already built trust and relationships with businesses, the local corporate finance community, banks, and law firms.

And that is what has lit a fire under Andy Moody, Alvarez & Marsal’s first Corporate Finance Managing Director in Birmingham.

With more than 18 years of corporate finance experience in the Midlands, Moody has advised on a range of private company transactions in the mid-market, including acquisitions, disposals, buy-outs and finance raising. Deal sizes ranged from £10m to £300m and included significant cross-border elements, with counterparties across North America, Europe and APAC.