Finance

Gambit Corporate Finance report best ever year after acting on deals worth £140m


Gambit Corporate Finance has reported its best ever year after acting on transactions with a combined value of £140m in 2023.

The Cardiff-based mid corporate finance advisory firm, which was set up in 1992, acted on 19 fundraising and merger and acquisition (M&A) related deals.




Gambit, which is the UK’s longest established corporate finance advisory firm, said its strong performance was set against a challenging year for M&A activity against challenging macroeconomic headwinds and increasing geopolitical tensions.

Despite decreased wider market activity it said average enterprise values to Ebitda (earnings before interest, taxes, depreciation and amortisation) multiples on transactions it advised on were strong. This is a positive trend which it is forecasting will continue this year.

Deal highlights last year for Gambit included an up to £21m sale of Nantgarw-based health, safety and environmental training group, Astutis to AIM listed Wilmington, the sale of South Wales-based temperature control storage venture Wild Water Group to real estate investor Dalancey, and advising Cardiff headquartered private hire vehicle operator Veezu on raising growth capital with alternative investment fund Tresmares and Santander. It also advised Veezu on its acquisition of Yorkshire-based taxi firms City Taxis and Excel Taxis.

Gambit also acted for Newport-based timber venture Premier Forest and three acquisitions.

Gambit is the sole UK shareholder in Corporate Finance International (CFI) a group of global corporate finance advisory firms with 28 offices in 18 countries and some 250 fee earners. A significant proportion of Gambit’s deals in the past decade are cross-border and involve non-UK counterparties.

Gambit partner Geraint Rowe, said: “We are extremely proud that Gambit achieved its best ever year in its 31-year history in 2023, despite some turbulence in UK M&A markets. In most of our core sectors, sellers have an optimistic outlook for 2024.



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