International firm sells compliance business…Mayer Brown JSM appoints China projects head
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That’s according to an analysis of the market by Herbert Smith Freehills, which reports that the technology sector will be particularly strong this year.
“Strong buy-side activity on the part of hungry, cashed-up private equity players, fuelled by record levels of dry powder and buoyant market conditions for funding will substantially invigorate Asia Pacific M&A activity this year,” said Tony Damian, Australian partner at HSF.
The growth in M&A from China will follow a slump in 2017.
“Last year China’s outbound investment slumped by almost 30 percent due to tighter controls on capital outflow. However, there are already signs of a resurgence, with growth late last year following the implementation of new government policies which have had the effect of reviving appetite and freeing up capital,” explained China partner Karen IP.
For Australia, in 2017 public M&A activity was mixed, with deal volumes largely consistent with 2016 levels.
Tony Damian said: “There are a number of positive indicators for Australian M&A in 2018. These include capital availability, strategic imperatives, and most importantly a desire for companies to not be left behind. I expect to see significant M&A activity in renewables, financial services, healthcare and infrastructure.”
The law firm set up Cerico as a joint venture with IT consultancy Campbell Nash in 2013 and took a majority stake in 2015. It is now a market leader in digital compliance tools and training for major companies.
The business was the first of Pinsent’s alternative delivery models which has since included international legal resourcing hub Vario, a minority stake in 'new law' start-up business Yuzu and the acquisition of diversity & inclusion consultant, Brook Graham.
Pinsents will maintain a strategic relationship with Dow Jones and will continue to provide the legal content for compliance solutions offered by Cerico.
Based in Beijing, he joins from White & Case and has a strong track record of achieving successful outcomes for lenders, equity investors and lessees, particularly those in China, Latin America and the Middle East.
