Today’s news in brief – 2/1/2025
European IPO proceeds surged in 2024, doubling to €14.6bn (£12.1bn) compared to 2023’s €7.2bn (£6bn), driven by improved macroeconomic conditions and decisive elections. Notable listings included Puig Brands (€2.6bn), Galderma (€2bn), and CVC Capital (€2bn), with strong aftermarket performances. The London Stock Exchange saw £0.7bn raised from eight IPOs, reflecting progress despite fewer listings. PwC anticipates further IPO market recovery in 2025, supported by private equity-backed IPOs and returning investor confidence. As UK equity markets normalize, companies with strong equity stories and readiness for public operations are poised to capitalize on the improving environment.
FRP Advisory facilitated the acquisition of financially troubled charity Relate by Family Action, securing jobs for 185 employees as of January 2025. Relate, known for its counselling services, faced challenges after losing government contracts. Family Action, with a complementary mission, will trade under the Relate brand while maintaining the federation of local counselling services. FRP partner Philip Reynolds expressed optimism about Relate’s future stability under Family Action’s leadership. Sir David Holmes of Family Action highlighted the alignment of their missions and the potential for mutual growth, ensuring continued support for families facing domestic challenges across the UK.
RSM UK advised on the sale of Newcastle Joinery Limited (NJL) to Switzerland-based KWC Group. NJL, a specialist in secure furniture for custodial and healthcare sectors, is renowned for innovations like Safer Cell Furniture and in-cell shower pods. The acquisition will enable NJL’s CEO, Jamie Greenwood, to collaborate with KWC’s leadership, enhancing UK operations and expanding into new markets. RSM’s team, led by Steve Hubbard, provided strategic guidance, supported by legal advisors Ward Hadaway. The merger positions NJL and KWC Group to address growing demand in secure accommodation sectors and leverage combined expertise for international growth.
BDO has joined Leeds’ Stronger Together network, promoting diversity and inclusion in professional services. Leeds tax partner Dan Brookes will join the executive committee to shape strategic goals, while Natalie Jones will serve on the junior committee, organizing events and mentoring initiatives. The network addresses economic disparities, with potential benefits of £24bn annually through full racial representation in the labor market. Brookes emphasized BDO’s commitment to equity, diversity, and inclusion, aligning with Stronger Together’s objectives. Co-founder Arif Ahmad welcomed BDO, urging collaborative efforts to build a just and inclusive professional landscape in Leeds and beyond.
