Weightmans’ North East annual deal value increased by over a third in 2020 despite the bite of Covid-19
The firm's Newcastle corporate team achieved a record value of deals in 2020 amidst the challenges faced by the Covid-19 pandemic
Weightmans’ corporate team in Newcastle has navigated the challenges of the Covid-19 pandemic and has advised on a record value of deals in 2020, as the aggregate value of transactions the team advised on increased by almost a third last year.
In 2019 the award-winning team, led by corporate Partner Duncan Reid, advised on North East deals to the value of £256m – in 2020 this exceeded £335m. Averaged over the year, the team completed a deal every 3 days.
Notable transactions include advising venture capital firm North Star Ventures in the launch of the Clean Growth Fund, London technology company Pixology Limited on its sale to Oracle Corporation, and the sale of Kontainers to Descartes, which were led by Newcastle corporate partner Paul Wigham. In addition, Newcastle corporate partner Marc Allison led the team to complete a series of transactions for QuantuMDx and Lok Developments. The team worked on a number of successful deals within the technology industry, with over half involving companies from this sector.
The same team has also recently been recognised for their exceptional work with six nominations at the upcoming North East Dealmakers Awards and a number of legal directory listings.
Duncan Reid said:
“This time last year we were looking forward to a busy and productive 2020. Although we could have never predicted the months that followed, we made sure that we continued to help our clients achieve their goals, shifting our strategies to embrace new opportunities and remaining resilient in the face of immense uncertainty.
“We are proud that we were able to continue to work safely to secure some exceptional results for our clients, and maintain the high standard of service we have become known for.
“There’s no doubt that 2020 was a year like no other, and we are still as a nation waiting for a return to some level of normality, but I am confident that as a team we have another fantastic year ahead of supporting businesses both across the North East and further afield in realising their ambitions.”