One of the North East’s most high-profile dealmakers has established the region’s first independent mid-market boutique amid signs confidence is returning to the market.
Shawn Bone has launched his own firm after more than 20 years’ experience in the region’s corporate finance sector, including senior roles at Deloitte, PwC and more recently BTG Corporate Finance.
Cavu Corporate Finance will be based in central Newcastle and is targeting mid-market transactions, ranging from £2m to £100m.
He said: “Cavu is a mid-market corporate advisory boutique focussing on disposals, acquisitions, debt and equity finance raising, as well as providing strategic advice to retained clients.
“We will also aim to support smaller high growth businesses that have great potential to access the early stage equity markets.
“The North East, and UK, market is now showing signs of recovery with significant equity availability and renewed confidence from corporate buyers in particular.”
Bone, who has spent the last six years as mergers and acquisitions partner at BTG Corporate Finance in Newcastle, is actively recruiting corporate finance specialists and is developing an advisory board to help with the strategic positioning of the boutique.
Cavu will transact across all sectors and its advisory board members will come with expertise in the healthcare, technology and oil and gas sectors.
The first advisory board appointments will be made over the coming months.
Industry specialist and entrepreneur John Wall, who was the co-founder of the PwC corporate finance business in the UK Regions, France and the Republic of Ireland, worked with Bone at PwC.
He said: “I fully support what Shawn is doing. There is now a well-established place for the corporate finance boutique in the UK regions - firms which are defined not by a brand, but by the personality and track record of the founding partners.
“Shawn’s credentials in the North East market are excellent and his timing is right.
“The regional market needs the services he will offer, and I wish him every success.”
Bone added: “Cavu will provide a real alternative to ‘Big 4’ firms many of whom have either reduced their corporate finance offering in the North East or pulled out all together. “The boutique model will emerge as the norm in most regional markets as the larger professional services firms continue to reduce the size of their offering in regional markets.”
Bone in particular is known for his extensive knowledge of the private equity markets having acted on some of the most significant deals in the region.
He also has an extensive track record of selling businesses to large corporate buyers citing that the real skill is identifying the strategic buyer and being able to develop the “strategic pitch” to support maximum value.
He added: “I have had great support from my existing clients many of whom have encouraged me to establish Cavu as they also feel that the market needs an independent advisory boutique focused on delivering high levels of client service and delivering outstanding outcomes for clients.”