ACCOUNTANCY Ryecroft Glenton Corporate Finance (RGCF) has says its revenues have outstripped its expectations in its first full year of business.
The corporate finance division the Newcastle-based firm was formally established following the appointment of Carl Swansbury as director of RGCF in May last year.
The RGCF team has completed a number of transactions in the last 12 months despite slow, difficult trading and market conditions across the UK. Swansbury is delighted with the results of the past 12 months and says RGCF has many more transactions in the pipeline, which will conclude in the coming months.
He said: “This has been a fantastic first year for us, and I’m delighted we’ve successfully completed a number of acquisitions, disposals and MBOs for businesses across the country, helping their owners and directors deliver their personal and business aspirations.
“When I joined the firm the market for transactions was challenging. Deals weren’t being completed as before: but we knew we could help companies contemplating acquisitions or sales, and we’ve worked hard to make these transactions happen, with great results for each of our clients and the firm.”
In the last 12 months RGCF‘s completed transactions have included advising international IT consultancy firm, E-Resourcing Limited on the acquisition of Williams McKinley Limited. RGCF has also advised on the sale of Wild Recruitment Limited to the national consolidator, Berry Recruitment Limited and on the sale of Willsco Limited to Boardwalk Investments Limited.
Despite funding being a real challenge in today’s market, RGCF has also successfully helped a number of clients, including E-Resourcing Limited, to secure the funding and bank facilities needed to fund acquisitions and the future development of their businesses.
Chris Robson, managing partner of Ryecroft Glenton, said: “Carl’s ability to convert potential transactions into completed deals with the best possible results for clients is remarkable.”
Ryecroft Glenton is investing in its corporate finance business by appointing Abu Ali, a chartered accountant, who joined the firm as a corporate finance senior this month.