need to consider whether they should be launching an acquisition
strategy, according to a corporate finance specialist.
Speaking at Leasing Life’s AFD conference, Stephen Frazer, of
chartered accountancy firm RSM Bentley Jennison said: “When you
have your next board meeting – if you haven’t done so already –
open up the debate.
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“Is now the time to be looking at businesses? Is now the time to
be thinking about acquisitions?”
Regardless of a lack of funding sources, Frazer said
opportunities for acquisitions clearly exist.
He used the example of the Porterbrook deal, which had convinced
banks to stump up £14 billion on a 20 times profit multiple, to
make the case that acquisitions of all sizes were feasible in the
current climate – if structured correctly.
However, merger and acquisition activity is down generally at
present, he added, pointing to the fact that on average per annum
there are 58 acquisitions in UK leasing, while so far in leasing
there have been just 31.
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By GlobalDataFred Crawley
