Campbell Cummings has rejoined the PwC Corporate Finance M&A team in Glasgow at director level.
Shortly after graduating from Aberdeen University in 2003, he joined the PwC Glasgow office working initially within audit. After a couple of years in audit, he moved into the Corporate Finance team with involvement in transactions such as the management buyout of Capito, the sale of Barclay & Mathieson and the sale of Weir Materials & Foundries.
In 2008 he moved to PwC Toronto and spent three years working in the Canadian Corporate Finance team where he worked on a number of deals including the sale of a trade magazine portfolio by Rogers Communications Inc to Glacier Media Inc, the disposal of Canadian aerospace company Cantwell Cullen to Zodiac SA, and the disposal of Sequel Brand Foods to Keybrand Foods Inc.
In 2011 he returned to Scotland and joined the M&A team at The Weir Group PLC, managing a number of acquisitions and disposals across its three divisions globally, totalling a combined value of over $1.5bn. These included the $675m acquisition of Seaboard (USA), $220m acquisition of Trio (China/USA), £23m disposal of LGE (UK) and the acquisition of R Wales (Canada).
In his new role with the CF team in Glasgow, he will have a focus on advising clients on acquisitions, disposals, capital-raising and strategic reviews.
“There’s some very positive momentum in the certain sectors at the moment with a considerable amount of interest from overseas buyers which is creating a good pipeline of opportunities. But it’s not just inbound M&As that are doing well. The larger Scottish corporates across a number of sectors are continuing to expand overseas via outbound M&A.
“Conditions for investing are also generally positive, with banks increasingly willing to lend in what continues to be a very low interest rate environment, and favourable changes to capital gains tax rates in the recent budget announcement will also be beneficial to sellers going forward. All of these drive positive fundamentals in the Scottish M&A market.”
Post-EU Referendum update: A lot of activity in the deals market has paused for a while but things are improving in the deals sector now and Campbell played a role in the recent sale of Matthew Algie to Tchibo.
Campbell can be reached via 0141 355 4000.