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Audit and assurance
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Consulting
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Cyber
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Deals
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Environmental, social and governance (ESG)
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Financial services advisory
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Forensics and investigations
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Government and public sector
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Insolvency and global asset recovery
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International
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Restructuring
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Risk
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Tax
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Outsourced accounting services
Every business is different, the challenges they face vary but all need bespoke solutions. Businesses also share common ground when it comes to striving for reducing costs and improving efficiencies.
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Royalty and intellectual property audit
Intellectual property (IP) is valuable and one of the challenges for you as an IP owner, whether in film, TV, book publishing or consumer products, is ensuring that you are receiving all royalties due to you.
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Pensions
Assurance and financial reporting is key, and reporting with independent opinion gives confidence to trustees to support their governance processes.
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Healthcare assurance
Our healthcare assurance team supports local and national NHS bodies improve the quality of their clinical data and cost information to accurately reflect the care delivered
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Contract assurance
We know how complex accounting for large contracts can be. The services sector relies on successful deals and risks being isolated and understood.
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Brexit and political risk advisory
We can help you navigate political volatility.
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Business consulting
Challenges are specific and solutions do not translate perfectly from one business to another, which is why you told us you want a fully customised approach to professional services.
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Corporate simplification
Having too many companies in your group structure can be expensive, and the changing financial reporting and regulatory landscape can lead to additional compliance work.
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Economic consulting
Bespoke guidance grounded in complex economic theory and practical sector insight to help you make the right decisions.
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Financial accounting advisory services (FAAS)
Our FAAS team can support your finance function with the flexible resource they need to get results.
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Governance advisory
Helping you future proof your governance and decision-making structures
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International services
To ensure the continuity of service you expect, our International Business Centres (IBC), led by our experts from around the world, work together to coordinate and provide global delivery.
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People advisory
Create value by attracting, retaining and developing an agile and resilient workforce for continued business success.
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Strategy
Our Strategy and Modelling capabilities are focused on helping management teams make better, more rigorous and quantified business decisions
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Respond: Data breach, incident response and computer forensics
Are you prepared for a cyber failure? We can help you avoid data breaches and offer support if the worst happens.
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Comply: Cyber security regulation and compliance
Cyber security regulation and compliance is constantly evolving. Our team can support you through the digital landscape.
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Protect: Cyber security strategy, testing and risk assessment
Cyber security threats are constantly evolving. We’ll work with you to develop and test robust people, process and technology defences to protect your data and information assets.
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Our credentials
Search our transactions to see our experience in your sector and explore the deals advisory services we've delivered.
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Corporate finance
We combine award-winning technical expertise with the intuition, insight and confidence gained from our extensive sector experience and a deeper understanding of our clients.
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Debt advisory
Our debt advisory team can find the right lender to help you in restructuring. Find out how our experts can support you.
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Financial modelling
Models are at the heart of all business decisions. Whether you're looking to raise finance, buy or sell a business, assess strategic options, or just plan for the future, you're going to need a forecast. This is likely to come from a financial model.
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Operational deal services
Most transactions fail to achieve their goals. There are many reasons for failure.
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Restructuring
Protect and realise value throughout times of uncertainty, stress and distress
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Transaction services
We will identify key business issues through our rigorous and tailored risk and business analysis process. Our Transaction Services team will then work with you to resolve these issues with a reporting method designed to suit each client and their preferred medium.
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Valuations
The Valuations team has wide experience in valuations of private companies. We serve enterprises of all types and sizes, covering a wide range of industries
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The ESG agenda
Shape your ESG agenda by identifying the right metrics, sustainable development and potential business value impact.
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ESG driven business transition
Whatever your ESG strategy, we can support your organisation as it evolves while maximising efficiency and profitability.
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ESG programme and change management
Do you have the right capabilities to drive the delivery of your ESG strategy to realise your targets?
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ESG risk management
You must protect, comply, understand and influence to successfully manage the risk involved with ESG issues. We can help.
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ESG strategy, risk and opportunity identification
We can help you clearly define your ESG Strategy, with the risks and opportunities identified and managed.
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Create value through effective ESG communication
Building trust and engagement with your stakeholders on your ESG strategy.
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ESG metrics, targets and disclosures
The pressure to report your ESG progress is growing. Do your targets measure up?
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ESG governance, leadership and culture framework
Make the most of ESG opportunities by effectively embedding your strategy across your organisation.
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ESG and non-financial assurance
Support your board to be confident in supplying robust information that withstands scrutiny.
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Actuarial and risk
Grant Thornton's Actuarial and Risk team provides market leading actuarial and risk management advice to clients in the financial services sector and further afield. We consult extensively to the life insurance, general insurance, health insurance and pensions sectors as well as providing financial modelling and financial instrument valuation services more widely.
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Business consulting
The Financial Services Business Consulting (FSBC) practice is able to harness the skills, knowledge and experience within the Financial Services Group, to provide a full suite of services across the delivery lifecycle, from strategic advisory to assurance. FSBC provides market-leading consulting and advisory services to the banking sector.
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Business risk services
Our market-driven expertise helps firms keep growing and manage risk in an evolving regulatory landscape.
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Financial crime
Helping you fight financial crime in a constantly changing environment
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Financial services tax
In the Financial Services tax team, we provide tax advice to businesses from all over the world. We combine technical expertise with a commercial approach based on experience and deep industry understanding.
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Insurance audit, assurance and advisory
Today’s financial services environment is the subject of increasingly rigorous governance, accounting and regulatory requirements. In the light of this, we provide a truly robust and independent service to undertake external audits with a defined, industry-specific audit approach that is specifically tailored to the relevant sector.
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Leasing and consumer finance
We are a unique team in the accountancy profession and combine vast industry, product, and asset knowledge with a core service offering which adds real value to our clients.
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Litigation support
Our in-depth understanding of the industry, and our sensitivity to conflicts make us the ideal choice for law firms and lawyers looking for unrivalled levels of service. We provide a wide range of litigation support and investigation services to the financial services industry.
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Regulatory and compliance
Regulatory and compliance - We provide an exceptional level of regulatory and compliance support to both retail and wholesale organisations across the financial services industry.
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Risk and capital management
We help businesses determine which capital risk management approach fits them best, ensuring that compliance is a natural by-product and not the primary driver. While the regulatory dimensions of capital risk management are growing at an unprecedented pace, it is our understanding of the links between risk, capital and performance that benefits our clients.
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Transactions and restructuring
We carry out a wide range of transaction support services, including due diligence and business reviews to support acquisitions, lending transactions, acting as reporting accountants for financial businesses seeking a listing or trading on the capital markets.
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Computer forensics
Computer forensics - We can report on metadata and provenance, internet activity, external connections and copying, destruction of evidence, smart devices, and we can conduct detailed forensic searches.
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Corporate intelligence
Corporate intelligence often involves cross-border complexities. Our experienced team can offer support.
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Cyber advisory
Our cyber team helps you to identify and guard against potential cyber risks to your organisation and mitigate against data leaks and hacks
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Disputes advisory
Our team advises on quantum and other accounting or financial issues in commercial disputes, including acting as expert witness in litigation and arbitration.
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Financial crime
Helping you fight financial crime in a constantly changing environment
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Financial services investigations
We are market leaders in conducting and supporting investigations within the financial services industry
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Forensic data analytics
Our forensic data analytics team are helping businesses sift the truth from their data. See how we can help your firm.
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International arbitration
International arbitration has become the principal dispute resolution method for the determination of complex international commercial disputes.
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Matrimonial services
We provide a distinctive, high-quality and personalised service to family lawyers and individuals across the UK both pre and post-marriage.
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Monitoring trustee and competition services
Monitoring trustee and competition services - We provide independent Monitoring Trustee services to competition, financial, security and other regulatory bodies.
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Forensic investigations and special situations
Do you need clarity in an uncertain situation? If you're accused of wrongdoing we can help you get the facts right.
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Public sector advisory
To deliver excellent public services, local and central government need specialist support.
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Public sector audit and assurance
As a leading UK auditor, we have unparalleled insights into the risks, challenges and opportunities that you face.
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Public sector consulting
Helping public sector organisations maintain oversight of services and understand what's happening on the ground.
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Public sector governance and risk
Although arguably necessary to bring order to public financing, the impact of the accelerated public sector funding cuts represents an unprecedented scale of funding reduction. While the sector has so far risen to the challenge, enduring service and financial pressures create risks and opportunities and have particular implications for governance, risk management and internal control.
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Cryptoasset recovery
Get guidance and technical expertise on digital finance and cryptoasset recovery from our dedicated crypto hub.
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Grant Thornton Offshore
Grant Thornton Offshore is our one-stop global solution for insolvency, asset recovery, restructuring and forensics services.
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Contentious estates and family disputes
Managing complex, high net worth and sensitive issues such as divorce to resolution
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Corporate intelligence
When you're embarking on recovery proceedings, you have just a small window of opportunity to take meaningful action.
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Litigation support
Our in-depth understanding of the industry, and our sensitivity to conflicts make us the ideal choice for law firms and lawyers looking for unrivalled levels of service. We provide a wide range of litigation support and investigation services to the financial services industry.
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Personal insolvency
We are a leading provider of personal insolvency services, delivering practical solutions in a sensitive manner, maximising recoveries for creditors or by helping individuals seeking for appropriate debt relief solutions.
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Expand into new markets
Broadening your business horizons.
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Finding the right international contacts
Introducing you to the people with the experience you need to succeed.
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Getting more out of your existing international operations
How to stay in touch with, and make the most of changing markets.
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Setting up in the UK
Practical advice and expert input for anyone moving into UK markets.
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Contingency planning and administrations
In times of financial difficulty, it is vital that directors explore all the options that are available to them, including having a robust ‘Plan B’.
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Corporate restructuring
Corporate restructuring can be a difficult time. Let our team make the process simple and as stress-free as possible.
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Creditor advisory
We act as financial adviser to mainstream lenders, credit funds, special situation funds, security trustees and surety providers.
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Debt advisory
Our debt advisory team can find the right lender to help you in restructuring. Find out how our experts can support you.
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Financial services restructuring and insolvency
Financial services restructuring and insolvency is a competitive marketplace. Our team can help you navigate this space.
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Pensions advisory services
Our pensions advisory service helps manage risk and agree funding strategies. Find out how we can help you.
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Restructuring and insolvency tax
Tax will often be crucial in a plan to restructure a distressed business. Our team can guide you through the process.
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Compliance assurance
Since the financial crisis of 2008 the governance and conduct of financial services firms has been under increasing scrutiny.
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Data analytics
Deeper insight through data analysis is becoming commonplace, increasing the value, commercial challenge and calibre of insight delivered to the business.
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Enterprise risk management
Enterprise Risk Management (ERM) has been around for a long time, but many organisations have struggled to understand it or genuinely embrace it.
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Finance and risk management services
Our clients continue to prepare for and implement a range of new regulatory requirements, whilst having to navigate the uncertain macro-economic environment and structural change affecting the industry.
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Internal audit services
Recent high profile control failures and increased regulatory demands require organisations to gain independent and objective assurance over the effectiveness of internal controls and risk mitigation.
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People, culture and organisation
Whilst it is recognised that culture is a key enabler of strategy, the Chartered Institute of Internal Auditors has placed greater focus on the importance of organisations’ culture.
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Projects, capital programmes and transformation
Delivering significant medium and long term shifts in strategic direction, competiveness or performance often requires effective delivery of significant and complex projects and transformation programmes.
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Technology risk services
Technology has been a key driver for success and operational efficiency in all industries.
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Third party and contract assurance
Delivery of critical business activities, both business as usual and projects, increasingly means working with external partners for goods and services.
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Capital allowances (tax depreciation)
Advisory and tools to help you realise opportunities in capital allowances.
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Corporate and international tax
Accurate returns, managing risk & maximising opportunity.
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Employer solutions
It's a well-known fact that, in business, people are your greatest asset.
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Indirect tax
In recent years, there has been a domestic and global trend of Governments shifting emphasis from direct to indirect taxation. Globally, while corporation tax rates have generally decreased, VAT rates have risen.
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Our approach to tax
The Finance Act 2016 introduced the requirement for businesses like ours to publicise their tax strategies by the end of the 2018 financial year. We fully support such initiatives and believe that firms sharing their approach to tax can promote widespread transparency, build trust and benefit society as a whole.
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Private
You'll know just how important it is to maximise and protect your personal wealth.
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Real estate tax
The impact of the prolonged downturn continues to be felt in certain parts of the world but pockets of opportunity and optimism have emerged within the real estate. The UK real estate investment market has enjoyed high levels of capital inflow from a wide range of different investors groups and continues to be attractive.
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Research and development tax incentives
We can help you prepare optimised and robust research and development tax claims.
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Tax investigations and disputes
We make it simple to stay compliant and avoid HMRC tax disputes
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Tax risk management
We can help you manage your tax risk.
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Transaction and restructuring tax
Undertaking a transaction, such as fundraising, refinancing, acquiring or disposing of a business or assets, or a more fundamental restructuring is an important step. Businesses, lenders and stakeholders need to understand the impact of that transaction.
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Business services
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Consumer markets
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Financial services
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Government and public sector
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Not for profit
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Real estate and construction
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Technology, media and telecommunications (TMT)
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Skills and training
Get the right support to deliver corporate and vocational training that leads the way in an expanding market.
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Private education
Insight and guidance for all businesses in the private education sector: from early years to higher education and edtech.
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Facilities management and property services
Get insight and strategic support to take opportunities that protect resilience and drive UK and international growth.
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Recruitment
Helping recruitment companies take opportunities to achieve their goals in a market where talent and skills are key.
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Food and beverage (F&B)
We can help you find the right ingredients for growth in your food and beverage business.
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Travel, tourism and leisure
Tap into our range of support for travel, tourism and leisure businesses in this period of challenge and change.
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Retail, e-commerce and consumer products
With multiple challenges and opportunities in the fast-evolving retail sector, make sure you are ready for them.
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Banking
Our expertise and insight can help you respond positively to long term and emerging issues in the banking sector.
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Capital markets
2020 is a demanding year for capital markets. Working with you, we're architecting the future of the sector.
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Insurance
Our experienced expert team brings you technical expertise and insight to guide you through insurance sector challenges.
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Investment management
Embracing innovation and shaping business models for long-term success.
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Pensions
Pension provision is an essential issue for employers, and the role of the trustee is becoming increasingly challenging.
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Central and devolved government
Helping central and devolved governments deliver change to improve our communities and grow our economies.
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Infrastructure and transport
Delivering a successful transport or infrastructure project will require you to balance an often complex set of strategic issues.
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Local government
Helping local government leverage technical and strategic expertise deliver their agendas and improve public services.
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Regeneration development and housing
We provide commercial and strategic advice to assist your decision making in pursuing your objectives.
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Charities
Supporting you to achieve positive change in the UK charity sector.
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Education and skills
The education sector has rarely faced more risk or more opportunity to transform. You need to plan for the future.
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Social housing
We are committed to helping change social housing for the better, and can help you make the most of every opportunity.
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Technology
We work with dynamic technology companies of all sizes to help them succeed and grow internationally.
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Telecommunications
Take all opportunities to realise your goals in telecommunications: from business refresh to international expansion.
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Media
Media companies must stay agile to thrive in today’s highly competitive market – we’re here to support your ambitions.
In the acute depths of the COVID-19 impact, we worked with deeply distressed companies in the BSS sector. Christopher McLean explains how we helped our clients work through the uncertainties of 2020.
Business support services was a sector where in the acute depths of the COVID-19 impact, we worked with deeply distressed companies - yet also other companies that showed much resilience and actually saw the pandemic as an opportunity either for internal restructuring or an opportunity to benefit from dislocation in their peer set.
Our highlights in business support services
Discover our key credentials in the sector
The state of the sector
In early 2020 and before the UK lockdowns commenced, we saw the construction, construction services and building materials sub-sector begin to experience stress within their supply chains. The impact on supply from the Far East and Europe was already being felt in January and February 2020 and then the impact was felt within their customer base. We helped several clients navigate their exposures and contingency planning during this initial period, including accessing CLBILS and CBILS facilities. Conversely, this sub-sector was one of the first to show signs of recovery, albeit cautious, as the government prioritised the reopening of certain areas of the economy ahead of others. We were able to work with some clients who were able to make smaller and opportunistic acquisitions of competitors. Looking ahead into 2021, the outlook is still uncertain and whilst there are encouraging signs from an expected focus on national infrastructure spending from governments, this is yet to materialise onto order books for many.
The recruitment and training sub-sector was more mixed. As organisations looked to quickly and sharply reduce costs, recruitment and training spending was a clear target. More generalist (temp and perm-driven) recruiters bore the brunt and we helped our clients access emergency liquidity from a range of sources. Some, but by no means all, of the more specialist recruiters showed more resilience, as there was still demand for expert positions, particularly across IT, programming and regulatory/compliance positions. The end of 2020 and into 2021 showed resumed M&A activity, partly driven by potential capital gains tax changes, but challenges remain for many and it will depend on these businesses’ exposures to their end markets. 2021 could be a busy year in the sector for both M&A and restructurings.
We saw and still are seeing a range of outcomes across the facilities management sub-sector. We worked with companies who had to access the capital markets through rescue rights issues and have difficult negotiations with lenders and shareholders as liquidity quickly drained with no visibility as to a recovery. Those with end exposure to commercial real-estate, offices, retail and leisure - whether soft or hard providers - were particularly impacted and there is still a long and uncertain road to recovery. Some of the softer elements of the sub-sector, such as cleaning and security, were able to perform very robustly and we helped these clients access new debt facilities on a stand-by basis, but this was borrower-specific and not across the board.
Case study
Listed facilities management company
During the first lockdown periods, we worked with prospective investors and lenders to diligence the adjusted business plan and calculate enterprise value and assess a sustainable capital structure.
A key part of our work was understanding the different divisions within the company given the scale and scope of their operations. In turn, we focussed on assessing the quantum and source of the monthly cash burn rate and how that matched against available liquidity. This was a large employer and understanding the impact on their people was crucial to really understanding the condition of the company and ability to execute its business plan.
The crisis and emergency nature of the situation meant we deployed a multi-disciplinary team with deep technical and sector expertise, drawing from our restructuring, debt advisory, transaction services, business consulting, M&A and valuations teams to assemble a dedicated project team who were fully focussed on helping our clients navigate this situation.
How we help our clients
Through the last year, we've ensured that all our clients in the business support services sector received help tailored to the requirements and circumstances of their particular subsector and situation.
The nature of this sector means its recovery or continued distress is, to an extent, a function of its end-customer exposure. We see some sectors recover faster than others, yet others like travel and hospitality have a difficult journey in 2021 and there will continue to be a direct impact on those that support such sectors.
Carefully understanding the end-customer and the true diversification of revenues, and stress-testing for further downturns and the compact of liquidity will be key themes for the sector in 2021 from a restructuring perspective.
The end of government support schemes, such as furlough will bring further problems for the sector to confront, together with the unwind of accrued liabilities and elevated financial debt on balance sheets.
Maintaining the confidence of lenders, shareholders and other important stakeholders will be vital in the next 12 months. Taking the initiative and leading from the front will be important to engender that confidence and we look forward to continue helping our clients in this sector as they navigate 2021.