Investment from overseas in North West based companies has seen significant growth in the first half of 2017, compared with the same period the previous year.
The value of deals coming into the region from foreign investors has increased three fold over the last 12 months totaling £1.1bn, up from £305m in 2016. The value of the average deal has also increased dramatically to £46m.
According to business advisory firm Deloitte, the value of inbound investment was boosted by the acquisition of Salford-based Exova Group Plc by Element Materials Technology BV, a Dutch provider of material and product testing analysis. The deal was worth £620m and provided a significant boost to the regional economy.
Despite concerns about the effect that Brexit will have on foreign investment and trade, there is still a strong appetite from European business and beyond with investment also made from Asian countries.
However, the single biggest investor was the USA with deals from the United States accounting for 41% of all inbound transactions.
John Breheny, director at Deloitte in the North West, said: “These findings highlight that North West assets are still considered among the most valuable around the world, with a strong split of acquirers across Europe, Asia and North America. In particular, the US/UK deal corridor has proven to be extremely lucrative in recent years, and it is unsurprising that technology, media and telecoms businesses are those most frequently targeted – a sector in which the North West excels.”
International trade isn’t just for large organisations, goods and services provided by small and medium sized businesses are also in demand.
If you are interested in doing business abroad, Helens Chamber’s export team have a wealth of knowledge at their fingertips and can help you get started on your export journey.
For further information contact the Business Information Team on 01744 742015 or email info@sthelenschamber.com
