The Covid crisis has been one of the most disruptive periods for business in living memory. But where there is disruption there is opportunity, which has taken the form of a corporate consolidation boom. Research by Refinitiv has found that global M&A activity in the first six months of 2021 was worth £2tn – the highest half-yearly total the company has ever recorded.
David Dubner, head of M&A structuring at Goldman Sachs, has called this phenomenon a “super-bloom”. He reports that corporate boards around the world have been taking the chance to reassess their firms’ strategic priorities while “emerging positively from what is, hopefully, a once-in-a-generation pandemic”.
Helen James, corporate finance partner at London chartered accountancy firm HW Fisher, has seen many M&A deals involving businesses worth between £10m and £50m in recent months. She reports that 2021 is shaping up to be “possibly the busiest year for acquisitions I’ve ever seen – and I’ve been doing this for 15 years”.