DELOITTE is expanding its corporate finance and business advisory presence with the appointment of David Frith as partner in the North East corporate finance practice.
Frith has a wealth of corporate finance experience and has advised on well over 100 transactions including acquisitions, divestments, raising equity and debt finance, buyouts and IPOs as well helping businesses meet the challenges of the current economic climate. He said: “The expansion of the corporate finance and business advisory offering from our Newcastle office is very much a reflection of the growing volume of advisory projects we are undertaking. 2011 was an impressive year for Deloitte’s Newcastle office with a significant involvement in several major deals that took place in the North East including CKI’s acquisition of Northumbrian Water, the sale of Executel and Carillion’s acquisition of Eaga plc.
“In addition Deloitte has been working in both the public and private sectors helping to design and deliver cost reduction programmes, refinancings and creating finance functions which are able to drive improved operational performance.
“Confidence remains a key issue affecting most businesses but there is a clear sense that businesses in the region are reacting positively to the challenges and we are working with management teams and shareholders to develop strategies for growth, which will often include an M&A component. Growing the corporate finance advisory service in the Newcastle office was a natural next step to support the growth aspirations of these local businesses.”
Paul Feechan, office senior partner at Deloitte in Newcastle, added: “We continue to grow our tax, corporate finance and audit practices in response to our clients’ needs for high quality advice in these uncertain times. David’s specialist skills will complement our existing expertise and he will play a major role in delivering our corporate finance and business advisory services.”