Member Article

Savage Silk delivers busiest period of M&A activity on back of growing presence in Tees Valley

Savage Silk, the growing commercial North East law firm, has achieved its busiest period of corporate transactions, highlighting its expansion into Teesside as a catalyst for growth as well as continuing to grow its corporate and commercial presence in its established Newcastle city centre office.

Achievements of the firm in the first three quarters of the 2023 financial year include:

• 24 instructions with an aggregate deal value of £22m.
• Advice on a wide range of asset sales and purchase and share sales and purchase transactions as well as other types of investment transactions such as the sale of Limited Liability Partnerships and acting for clients investing in companies by way of secured convertible loan notes and acting for companies issuing loan notes in return for investment.
• Significant growth in transactions following opening of Tees Valley office.
• Growing its corporate team by taking on two additional corporate fee earners, notably Paul Bury, founding partner of Endeavour Partnership solicitors, who joined in early 2023.
• Transactions in a cross section of industrial, professional and service sectors. Highlights include:
• Sale of the assets of two hotels
• Sale of several financial advisory businesses (asset and share sales) with ongoing instructions in respect of others
• Purchase of shares in a pharmacy business
• Sale of the assets of a nursery business
• Purchase of a hotel business
• Sales of shares in a mining business

The firm has advised on asset sales and purchases as well as share sales and purchases in sectors such as hospitality, nursery education, manufacturing, financial services, recruitment and pharmacy.

Delivered by a team of experienced corporate lawyers, the firm is planning to expand its corporate and commercial department with additional recruits to support a growing client list and pipeline of transactions for 2024.

Having established its office in Teesside in 2022, the firm has built a portfolio of clients in the Teesside area, which is bearing fruit across a range of its services, in addition to corporate and commercial, including commercial property, employment law, dispute resolution, residential conveyancing and private client services.

Satpal Pandal, partner at Savage Silk, said: “Despite well documented economic headwinds and challenges, there is still an appetite for business investment, and we are proud to have delivered a strong period of successful transactions.

“Through our focus on understanding our clients’ requirements, which allows us to tailor our services in a more efficient manner, and supported by our expansion into Teesside, we have been able to grow our client base and deliver effective solutions that benefit all parties.”

Chris Morgan, senior associate in the corporate and commercial team at Savage Silk, said: “Our growth will enable us to expand our corporate and commercial team in 2024 as we build capacity and expertise to service an already strong pipeline of work and we look forward to welcoming talented and experienced people to the firm.

“This will build on the additions we made in 2023, particularly Paul Bury who has been a valuable asset to the corporate team. Given his more than 40 years of experience in dealing with corporate transactions there’s not much he hasn’t seen.”

This was posted in Bdaily's Members' News section by News Gathering .