PEM deals team: A 15-year-old heavyweight
The future of dealflow is strong despite the political climate, Lake Falconer, who leads the Corporate Finance team at Cambridge accountants PEM, told guests at a party for clients and business friends to celebrate the division’s 15th anniversary.
“We’re still seeing lots of deals and have got a couple of completions to go shortly,” he told guests at the the event at Downing College.
“There are lots of really good companies in the East of England and the weakness of the pound is helping as well when it comes overseas buyers. Right now we’ve got some fantastic dealflow.”
The firm had come a long way, he said, in 15 years but the emphasis was still the same as it always had been.
“When we started Tony Blair was PM. Four Prime Ministers and a banking crash later we’re still here and the present is very much about what we’ve always done.
“It’s about the whole journey from working with a business owner to the germ of an idea, exit planning through growth, acquisition, funding, succession, management buyouts and finally at the exit at the end of the story.”
A particular highspot was being highly commended at the East of England Dealmakers Awards in the overall advisor category last year he said.
Looking forward he said the future was about the team. When he formed the division there was just a team of two, but this had grown to a “fantastic team” of seven.
PEM chairman and Tax Partner Derek Carr spoke of the team’s achievements over the past 15 years.
“This has been a particularly busy year and we’re pleased to see that the deal sizes are getting bigger and bigger and I hope that trend won’t stop,” he said.
He added that the team had an “excellent track record” in buy-outs, many involving Cambridge based knowledge-led businesses including 42 Technology, Element Energy, CPL, Bailey Fisher and IMS.
“All these companies are still successful growing businesses,” he said, adding that Lake and the team had also been responsible for company sales, including Molecular Dimensions, Pope Woodhead, Nitritex, eSight Energy, MDU and EAG.
He said the team also worked successfully alongside PEM’s valuations business and with transactional tax specialists on advisory due diligence for acquisitions.
PEM Corporate Finance was also a great referer of new work. “As they do such great work in terms of the deals Lake and director Philip Olagunju have also been flying the PEM flag at the Business Growth and Exit seminars, partnering with banks, solicitors and business funders.”