Controlling the Controllable
November, 2016 - Simon Ward
Our current experience is a strong desire to control the controllable, focus on the same principles of business development and value growth. No business can move into a holding pattern for such a long period. Businesses go forward or back – standing still is not an option.In the last four months we have seen an exceptionally buoyant corporate finance market. For the business owner looking to realise value let’s remember that current capital tax regime remains as favourable as it has done for years. UK trade acquirers remain well funded and the depreciation of sterling has increased the attractiveness of the UK particularly for the US acquirers who remain by far the most active buyers of UK assets. The wall of private equity raised in recent years still needs to be deployed and the pursuit of buy and build strategies by PE businesses grows ever more voracious.So for an owner thinking of selling, now is a good time to consider acting. Waiting for two and half years is simply too long and ignores those fundamentals. Where an ultimate Brexit falls on the hard/soft spectrum will take time and careful (and confidential) negotiation. The UK economy will remain the fifth largest in the world. In our experience controlling the controllable is the best way forward.