Listed below are our UK press releases, providing an overview of our activities and opinions over the last 18 months. Our most recent press releases can be found at the top of the page.
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| Sale of further Carter and Carter division by Administrators |
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14 April 2008 |
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The Joint Administrators of Carter and Carter Group PLC, Nick Dargan, Dominic Wong and Chris Farrington of Deloitte, the professional services firm, have announced the sale of the Apprentice Learning Division, part of the Carter and Carter Group plc (in administration), to the Retail Motor Industry Federation (RMIF). Chris Farrington, partner at Deloitte, commented: “We are delighted that we have successfully concluded a sale of a further part of the Carter and Carter Group. The sale safeguards the jobs of around 30 people still employed by Carter and Carter, and gives opportunity for the new owners to re-employ a number of... |
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| Fenmarc Prepared Foods Limited – In Administration (“the Company”) |
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14 April 2008 |
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Ian Brown and William Kenneth Dawson of Deloitte have been appointed Joint Administrators of the Company (formerly known as PannKrisp Limited). The Company employs 190 people and supplies a range of freshly prepared ready meals to the Grocery sector from its site in Wrexham, North Wales. Ian Brown comments: “Our appointment follows a difficult trading period and rising commodity costs, as a result of which the directors concluded that the Company could not continue to trade in its current form. After discussions with customers, suppliers and employees it is my intention to allow the Company to continue to trade in the short term... |
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| Receivership appointment - Golden Key Ltd. |
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14 April 2008 |
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Neville Kahn, Mark Adams and Nick Dargan of Deloitte have today been appointed joint receivers of the Company (together, the "Receivers") by The Bank of New York, the security trustee, acting under the directions of the majority secured parties of the Company. Neville Kahn commented: “This vehicle suffered an acceleration event back in August 2007 and has been the subject of detailed restructuring negotiations amongst its creditors since that time. The appointment of Receivers is intended to provide a platform to resolve certain outstanding issues and to implement a restructuring.” The Receivers will update investors during the... |
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| On their way to 3.5% |
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10 April 2008 |
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- I think that the continued problems in the financial markets and the associated tightening of credit conditions will mean that today’s 0.25% cut in interest rates to 5% is another step towards rates eventually falling to 3.5%.
- Admittedly, the backward-looking news on activity has been fairly good. The Q4 National Accounts showed that although GDP growth is slowing, it is not collapsing. Moreover, the manufacturing sector appears to have enjoyed a surge in activity, while the official retail sales figures suggest that consumers have continued to spend on the high street. And the 166,000 rise in employment in...
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| Participation Key to UK Insurance Market benefiting from Solvency II |
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03 April 2008 |
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Complacency amongst UK insurers about the impact of Solvency II, and a failure to take part in the Quantitative Impact Studies (QIS) taking place, risk the UK losing its established advantage as a leading insurance market in Europe, according to Deloitte, the business advisory firm. Yesterday, CEIOPS launched QIS 4, the fourth in a series of detailed technical studies investigating the structure and calibration of the Solvency Capital Requirement calculations under Solvency II regulations. In previous studies, participation by UK insurers has been lower than hoped, with many insurers believing that the effort required was too... |
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| Continental buyout market contracts but total European value is boosted by UK |
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03 April 2008 |
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Figures released today by CMBOR, the pre-eminent provider of analysis on the European and UK buy-out markets founded by Barclays Private Equity and Deloitte, has revealed that the European buy-out market did not continue its stellar growth in 2007. The total market value was only held up due to a strong showing from the UK. The value of deals last year reached €171 billion, which, while technically a record year, was a barely significant increase in value over the €170 billion recorded in 2006. The strong rise in the UK accounted for €66.9 billion of the total in Europe, while Continental value actually fell from €130.3 billion in 2006... |
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| Deloitte bolsters M&A capability with media expert |
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03 April 2008 |
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Deloitte has announced today the appointment of Stuart Sparkes, corporate finance director, to its Technology, Media and Telecommunications (TMT) specialist M&A team. Mark Pacitti, Head of Deloitte’s London corporate finance practice, commented: “We are delighted that Stuart has joined the team. He brings a wealth of expertise to our M&A practice, particularly in the business media sector. Stuart has worked as an adviser on some of the foremost deals in this area in the last few years, notably the buy-out of Clarion Events, the buy-out of Ocean Media and the sale of MSM to Incisive Media. ... |
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| Commenting on the today's Q1 Bank of England Credit Conditions report |
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03 April 2008 |
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Fenton Burgin, Debt Advisory Partner at Deloitte, said: "In an otherwise bleak survey there is evidence that some UK corporates are taking advantage of falling equity values and banks lending less money to private equity to contemplate M& A activity. Corporates' share of the reduced merger volumes has risen in the first quarter of 2008 and today's data suggests that mid market firms are willing to borrow to take advantage of lower valuations."
Burgin, added: "In the medium term, lower equity valuations driven by reduced bank liquidity will benefit the private equity industry and as market stability returns we envisage that... |
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| Secondary exit boom gives way to uncertainty as 2007 falls short of last year's highs |
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02 April 2008 |
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New data released today by CMBOR, the leading provider of analysis on the private equity market founded by Barclays Private Equity and Deloitte, reveals that exit value fell to £23.8 billion in 2007 – a significant reduction on the record £26.9 billion achieved in 2006. Meanwhile exit volumes in 2007 actually increased, reaching a record 400 compared to 335 in the previous year. The average exit value in 2007 was £59.3 million compared to £80.2 million in the previous year. 2007 was undoubtedly the year of the secondary buy-out. Secondaries reached a record £14.4 billion in value from 124 transactions, nearly double the £8.0... |
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| Deloitte comments on Ofcom's announcement on social networking |
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02 April 2008 |
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Christy Kulasingam, media director at Deloitte, comments on today's announcement by Ofcom on social networking.
"There is growing resistance and concern to the volume and depth of information that websites are capturing about consumers' online behaviour, as demonstrated by today's warning by Ofcom about the dangers of children publishing personal details on social networking sites. While Britain's children are new media aware, they're not always new media savvy.
"Web users should be made aware that even seemingly innocuous activities, such as social networking, may be compromising and potentially... |
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