Growth at the top of agenda, says PwC report
Private equity owned companies in the Midlands continued to grow turnover and staff numbers during the recession. That’s according to the latest report from PwC, which also suggested acquisitions were “firmly on the agenda” for the future.
The report, entitled Looking to the Future, finds that growth is now the main priority for private equity owned companies, replacing the worry of cost-cutting as the top concern.
Nationally, nearly 60 per cent of private equity backed companies said they believe they will grow in the coming year. Acquisitions are firmly on the agenda for the vast majority of management teams, it was revealed.
Matt Waddell, head of corporate finance at PwC in the Midlands, said: “It is surprising that so many PE owned companies in the Midlands and elsewhere around the UK have continued to grow through the downturn. Although there are concerns about debt levels, the economy and the availability of high quality staff, the general sentiment is positive.
“During the downturn, private equity owned companies were forced to change their plans and many have been prepared to hold on to their investments for a while longer than they would otherwise in the hope of achieving a better value. Now, as values show signs of recovery we are expecting to see an increase in investor activity.”
