Panoramic

As part of the investment community in Scotland, we felt it was important to support this integral part of the entrepreneurial ecosystem and support the goal of Young Enterprise Scotland to get 500 companies to pledge financial assistance so that they can continue their services. A number of our team have direct experience of the work and benefits of Young Enterprise and realise how important it is that these programmes that inspire young people, provide financial literacy skills and build the entrepreneurial spirit in the next generation continue.

Great to see our old portfolio company, Plumbworld, continue to grow under new ownership. https://lnkd.in/e2gsgPip

A sector we continue to support throughout the UK, this report by RSM UK highlights some of the UK's best performers.

An indepth study by the Bank of England on identifying barriers to productive investment and external finance in SMEs. Two of the findings that jump out were: - Of those businesses that reported using external finance, credit cards were the most widely used source. Use of non-bank equity finance or market-based debt was very limited. - Businesses reported financial constraints (high borrowing costs and strict collateral requirements) and economic uncertainty as the key reasons for under investment. Full report here: https://lnkd.in/dFj276GZ

It has been a busy summer...great to announce our support for the MBO of Millercare, a provider of a wide range of mobility products and associated services to consumers, charities, and the NHS. The business is headquartered in Nelson, Lancashire, with 14 showrooms across Northwest England and a growing online presence. The investment will lead to continued expansion across Northwest England, capitalising on its strong reputation built over 75 years of trading. Panoramic invested in Millercare alongside its current management team, MD Nick Buchanan, Finance Director Phil Neal and Operations Director Tara Butterworth, who have each been with the company for over 20 years and overseen Millercare’s growth. Panoramic team led by David Atkinson & Katie Ford. Legal advice provided by Harrison Drury Solicitors. Financial DD by Pierce Chartered Accountants. David Middleton of COLE ASSOCIATES CORPORATE FINANCE LLP provided CF advice to management with Myerson Solicitors providing legal advice. https://lnkd.in/eeuYVrF7

Nice to get this transaction across the line - we have supported the Management Buyout of Full Circle, the end to end events exhibition services business and its in house graphics sister company, Pyscho Peacock. Great to work with Shawbrook and we look forward to supporting Steve Comar and the team on the next stage of growth. PGE team of David Wilson, Jake Wilson and Sam Straughan worked on the transaction. https://lnkd.in/gHd6rBtw

A good article on Management Buyout transactions - something we are always keen to support. We have backed a number of successful MBOs over the last few years. https://lnkd.in/eXEV-5tx

Some interesting trends from BDO on the deals market in the UK in H1, highlighting: - Green shoots of recovery in M&A activities - Significant interest in high-quality, well-prepared businesses, and the - Rising demand for strategic bolt-on acquisitions and sustainability-driven transactions. https://lnkd.in/ewzDjrNu

British Business Bank released its Small Business Equity Tracker 2024 report last week with the main findings: - Following the market downturn in the middle of 2022, equity investment for smaller businesses has fallen to levels previously seen in 2019 - After a strong year in 2022, equity investment in UK smaller businesses declined by 48% to £8.8bn in 2023. The number of announced deals also fell by 25% to 2,152. - However, on a quarterly basis equity investment has remained just over £2bn for the past five consecutive quarters, demonstrating some stability in the market. - London accounted for 63% of investment and 49% of deals in 2023. The number of deals declined across all regions and devolved nations in 2023, though activity in the East Midlands and Wales was the most resilient. - University spinouts raised £1.3bn in 2023, the third highest year on record and equivalent to 15% of total investment across the market. Read more below https://lnkd.in/dfMm93Tj

The latest on dealmaking in Scotland - Jake Wilson contributed to the debate in the latest ICAEW CF magazine alongside a number of the other advisors and investors in the local market. Marc Mullen https://lnkd.in/e_9SX52Q