Burness Paull highlights inward investment potential after advising on Scotland’s Deal of the Year
Burness Paull has forecast that Scotland will remain a key target for international investment after its client, Macduff Shellfish, was awarded two major honours at the Insider Deals and Dealmaker Awards in Glasgow last night (Wednesday, 7 September).
The commercial law firm advised on the sale of Macduff Shellfish in Mintlaw, Aberdeenshire to Canadian-listed Clearwater Seafoods Inc. for £98.4 million. The transaction, which was one of the largest corporate deals involving a Scottish business in 2015, won both the Sale of the Year and Deal of the Year awards.
Jamie Stark, partner at Burness Paull and lead advisor on the deal, said: “I am delighted that the Macduff Shellfish deal has been recognised for Sale of the Year and Deal of the Year.
“This deal required a huge firm-wide marshalling of resources, including specialists from our corporate, Scottish property, English property, employment and pensions teams.
“Working alongside AAB, it’s a fantastic example of the entrepreneurial spirit and business activity in the North East of Scotland.”
The firm also advised on two other award-winning transactions: Caldan Therapeutics, which won Early Stage/Risk Capital Deal of the Year; and Pipe and Piling Supplies, which won Small/Mid-sized Company Deal of the Year.
Chris Gotts, head of corporate finance at Burness Paull, added: “There has been much to celebrate in the Scottish dealmaking community this year. We owe thanks to the ambition of our clients who continue to trust us to deliver for them some of the most exciting deals in and from Scotland.”
Burness Paull has completed deals worth more than £16.9 billion in the last 12 months. Recognised as having the most active dealmaking team in Scotland, the firm topped the Business Insider Deals Table for 2015 and it remains top of the Deals Table for the year to date by a significant margin in both deal volume and value.
With significant deals spanning financial, food and drink and technology sectors, the firm is also working with an increasing number of international organisations. Advising clients in more than 60 jurisdictions in the past year, 40% of the firm’s revenue now comes from international business.
Gotts said: “Scotland remains a key focus for many international organisations. As well as the sale of Macduff Shellfish, we also advised KKR as lead investor in Fanduel’s $275m fundraising and US drinks giant Brown-Forman on its acquisition of BenRiach in a deal worth £285million – the largest M&A transaction in the Scottish market this year, which is testament to our 50-strong team of CF lawyers who consistently deliver exceptional results on behalf of our clients.
“Following these successes we see no sign of the deals market slowing down, from both a domestic and international perspective, so we are looking forward to another busy and exciting year.”