29% deals increase in 2023 for Weightmans’ corporate team in Newcastle

The Newcastle corporate team at national law firm, Weightmans, advised on a record number of deals in 2023 – generating a combined value of more than £459m and representing a 29% increase in annual dealmaking volumes.

Despite market challenges, its dealmaking activity, which covered more than 119 transactions, supported the M&A, private equity and exit strategies of clients across the North East’s strategic growth sectors including technology. In particular, the team completed 26 transactions in the two weeks prior to Christmas, which included a number of transactions for Northstar Ventures.

 

Further activity included Paul Wigham leading the advice to growth capital investor BGF with its investment into Newcastle-headquartered hedgehog lab which was then able to acquire York-based digital product consultancy Netsells.  

 

The team, led by Kirsty Adamson, also supported Japanese listed Daikin in its acquisition of industrial refrigeration and air-conditioning business Brooktherm for an undisclosed sum. The deal supported the business’s ambition to strengthen its service and maintenance capability across the UK.

 

Weightmans’ Newcastle-based team’s growth was reflected in its team expansion, with newly qualified solicitor Meghan Peters joining the team alongside solicitor Ben Stephens. In addition, Nick Gray was promoted to principal associate.

 

Duncan Reid, Weightmans corporate partner in Newcastle, said: “2023 was a record-breaking year for us in Newcastle. We supported a wide-ranging client base to scale-up their ventures, invest in entrepreneurial people and their ideas, and see their brands go global. With a significant portion of these deals completing in the final weeks of the year, we’re projecting continued momentum as the appetite for growth shows no sign of slowing as we kick-start 2024.”

 

Rick Charnley, investment director at Northstar Ventures, said: “We had a strong 2023 but would not have been able to achieve the value and number of deals without the support and advice of the team at Weightmans. We value their ability to understand complex situations quickly and recommend a straightforward route forward.”

 

Weightmans was crowned ‘North East Corporate Law Firm of the Year’ in 2023 and was recognised for advising on the region’s ‘Private Equity Deal of the Year’, acting for Additional Lengths on its investment from Growth Partner. Kirsty Adamson has also been shortlisted for Rising Star of the Year award at the Legal 500 Northern Powerhouse Awards for Corporate.

Nationally, Weightmans has been recognised as a Top Employer in the UK for the 17th year in a row – and has entered the top ten rankings once again in 2024.

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