Amsterdam 2023: Howard Colman, Oksana Howard & Adam Palmer to attend annual IR Global conference

Amsterdam 2023: Howard Colman, Oksana Howard & Adam Palmer to attend annual IR Global conference

Colman Coyle are delighted to attend the upcoming annual IR Global Conference, in Amsterdam this September. The firm will be represented by Partners Howard Colman and Oksana Howard and will be joined by IR Global Rising Star Adam Palmer.

This year we are honoured to have Howard Colman attending as IR Global outgoing Member of the Year.

Colman Coyle have made a substantial contribution to the development of IR Global. Membership has benefitted us immensely and has not only involved us in a significant number of referrals both inbound and outbound but has allowed us to meet and connect with tremendous colleagues and friends from over 150 countries.

Howard, Oksana and Adam are looking forward to attending the annual conference in Amsterdam and networking with professionals from jurisdictions around the world.

Howard and all of us at Colman Coyle would like to congratulate the 2023 Member of the Year finalists and their tremendous achievements: Paul Beare, Caroline Joly and Michael Kean.

Best of luck to all the 2023 IR Global Member of the Year finalists and here’s to Amsterdam!

 

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Colman Coyle are delighted to announce the inaugural meeting of the Business Optimisation Group at the IR Global ‘On the Road’ conference in San Diego

Colman Coyle are delighted to announce the inaugural meeting of the Business Optimisation Group at the IR Global ‘On the Road’ conference in San Diego

Business Optimisation Group

IR Global ‘On the Road’ conference
Business Optimisation Group

InterContinental San Diego
Balboa A Boardroom (4th Floor)
901 Bayfront Ct
San Diego, CA 92101

Wednesday, June 7th 2023 at 3:30pm – 4:30pm PST

Colman Coyle are delighted to announce the inaugural meeting of the Business Optimisation Discussion Group (founded by Oksana Howard and Mendi Sossamon, supported by the headline sponsor Adrienne Braumiller) at the IR Global ‘On the Road’ conference in San Diego.

Please join Oksana, Mendi and Adrienne for an hour of networking and discussion on integrating professional services with a client’s overall business strategy, with a view towards improving efficiencies, reducing costs and increasing revenues.

Howard Colman to host golf event in Valencia for IR Global members

Howard Colman to host golf event in Valencia for IR Global members

Howard Colman, a founding Partner of Colman Coyle and IR Global Member of the Year 2022/23 is delighted to have organised the first official golf tournament for IR Global.

The event is due to take place in Valencia Spain on 10/11 May 2023 and the golf will be played at El Saler Golf Course which has hosted the Spanish Open on 4 occasions and is in the top 3 courses in Spain and top 60 worldwide.

In addition to the golf, there will be opportunities for attendees to network and socialise and enjoy local food and wine specialities at the event dinners.

Howard will be joined in Valencia by Oksana Howard who is a Director at Colman Coyle and a member of the IR Global M&A committee.

With great weather anticipated and the beautiful city and beaches of Valencia to enjoy, as well as top class golf this promises to be a great few days for all attending.

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Howard Colman and Oksana Howard meet with international colleagues in London

Howard Colman and Oksana Howard meet with international colleagues in London

It has been a busy week at Colman Coyle. Oksana and Howard are pleased to have been able to meet with several of our international colleagues who joined us on their visits to London.

On Monday we met with Daniel Fleming and Linda Wong from New Jersey.

On Tuesday we met with Bob Freitas from California and on Wednesday we met with Lillo Boccadutri from Italy.

It is always a pleasure to meet with our international friends and colleagues and a great opportunity to catch up on what we are all doing both socially and professionally.

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Oksana and Howard with Daniel Fleming and Linda Wong

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Oksana and Howard with Bob Freitas

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Oksana and Howard with Lillo Boccadutri

Colman Coyle offers pro-bono legal services to the Ukrainian refugees with limited financial means wishing to set up a business in the UK

Colman Coyle offers pro-bono legal services to the Ukrainian refugees with limited financial means wishing to set up a business in the UK

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Sadly, today is the anniversary of the Russian attack on Ukraine. The war has resulted in many refugees fleeing the Ukraine and a significant number have set up home in the U.K.

A number of these have or are looking to set up businesses to support themselves and their families but they often have limited means.

In recognition of this, Colman Coyle has decided to offer pro bono legal help to anyone in this position to assist them in setting up their businesses and dealing with matters such as basic contracts and terms and conditions.

If you need help with setting up a business in the UK or if you have any other legal needs in the UK, please contact Oksana Howard at oksana.howard@colmancoyle.com

Oksana Howard

How Geopolitical Change Is Affecting M&A Activity in Europe

How Geopolitical Change Is Affecting M&A Activity in Europe

Article, written by Oksana Howard – Head of Corporate Department at Colman Coyle, recently published on Law 360 – a highly reputable news source for legal professionals.

Please read the article below, or through the Law 360 website here.

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How Geopolitical Change Is Affecting M&A Activity in Europe

The market in central and Eastern Europe has been growing for the past 30 years since the collapse of the USSR, becoming an ever-more attractive area for investment for Western European countries, including the U.K.

The geographical proximity, less costly salaries and membership of the single market of many central and Eastern Europe countries, altogether with a talented workforce make for an excellent investment opportunity. This is evidenced by high levels of M&A activity in the region in recent years, and a jump in the levels of private equity with a total deal value of over €10 billion ($10.7 billion).

However, following Russia’s invasion of Ukraine in February last year, the landscape has changed. Russia faces heavy sanctions from European countries and likewise European countries face sanctions from Russia.

In keeping with trends in Western Europe, central and Eastern European countries have seen rising levels of inflation and increasing interest rates from central banks to curb inflation, in part caused by these sanctions, which have had an impact on M&A activity in the central and Eastern Europe market.

Overview of the U.K. M&A Market

The U.K. is the leading destination in Europe for international deal making. In recent years, this has been as a result of a strong COVID-19 vaccination program.

However, going forward, this trend is predicted to continue for different reasons; there is likely to be an increase in distressed M&A deals, with inflation on the rise and consumer confidence falling. Coupled with the U.K.’s weak currency, international buyers will look to take advantage of lower valuations of companies struggling in the current climate.

Key Sectors for U.K. Investment in Eastern Europe

We see that the following sectors are attractive to U.K. companies for investment in central and Eastern Europe:

•IT and tech: There are well-qualified workers in central and Eastern European countries and the technology sector is on the rise.

Agriculture: Although Ukraine’s grain export has been disrupted due to the war with Russia, with land in surrounding countries having similar yield potential,  exports from these countries will begin to increase.

Renewable energies: There is a general interest in green energy, with EU member states setting net zero targets and countries in south-Eastern Europe offering opportunities for energy projects.

Poland remains a popular market for U.K. companies’ investments, due to its resilient economy and cost-effective workforce, despite increasing geopolitical tensions as a result of the conflict in Ukraine.

Over the past 10 years, U.K. companies have accounted for 124 deals in Poland, the second highest number of inbound acquisitions in Poland. The main target sectors are software, telecoms and financial services.

As with Poland, software companies and telecommunications remain attractive sectors for investment in the Czech Republic.

In September 2022, Zenitech, a U.K.-based transformational technology company, acquired AutSoft, a Hungarian software company. The CEO of Zenitech cited the reason for the transaction as having access to some of the best technology talent in the region.

In June 2022, U.K.-based Lucy Group Ltd. acquired an 80% shareholding in Flashnet, a Romanian internet of things tech company. The purpose of the deal was to invest in smart city technologies, another example of the growth of the tech sector in central and Eastern Europe.

Investment by Eastern European Companies in the U.K.

The U.K. remains one of Europe’s largest economies and the British market is cited by central and Eastern Europe company leaders as a key part of their international expansion strategy, as is evidenced by recent M&A activity:

•In August 2022, Wielton SA, founded in Poland, completed its acquisition of Lawrence David, a British manufacturer of parts for lorries. The CEO of Wielton stated that the U.K. is a strong market for trailers and semi-trailers. He outlined  the company’s presence in the U.K. as crucial to their overall strength in Europe.

In November 2022, Czech betting company Allwyn acquired U.K.-based Camelot Group, which runs the National Lottery.

In December 2022, as part of their extension into Western Europe, Latvian logistics group Kreiss, SIA acquired U.K. company C Neil Dowson Ltd. with the view to delivering first-class haulage solutions to U.K. customers.

Therefore, despite Brexit, inflation, high interest rates and the weakening pound, the U.K. remains an important economy for investment and influence in the rest of Europe.

M&A Trends in 2022/2023

As a result of recent market volatility caused by Russia’s invasion of Ukraine and associated sanctions, raising fuel prices, high inflation and interest rates, we are seeing the following trends in M&A transactional activity between the U.K. and Eastern European countries:

  • Wider use of noncash consideration, paid on deferred terms, due to rising interest rates and the higher cost of borrowing;
  • Increased use of completion accounts, which allow buyers to verify company valuations;
  • •With tech deals on the rise, in central and Eastern Europe and across Europe,  earnouts are becoming more popular due to the challenges of valuing assets in a volatile market;
  • Wider use of material adverse change clauses referring to COVID-19 and the war in Ukraine. E.g., since Polish law provides uncertain levels of contract relief from force majeure events, and in order to be enforceable, material adverse change clauses are included in the acquisition agreement and refer specifically to such events;
  • •Greater use of warranties and indemnities insurance, including in smaller and midmarket deals; and
  • Inflationary pressures, meaning heavy price negotiation and comprehensive due diligence with a view to anticipating risks, which may lead to deals taking longer  to complete or potentially abort.

Outlook for 2023

As a result of Russia’s invasion of Ukraine and consequent sanctions, more and more companies are expected to divest from Russia, likely leading to Western European companies relocating their businesses to nearby central and Eastern European countries that are EU members, such as Poland, the Czech Republic or Hungary. These are lucrative targets due to their cost-effective labor and membership of the single market.

Furthermore, technology startups in central and Eastern European countries are predicted to be attractive for U.K. investment.

Due to its reputational value and transparency, the U.K. market is likely to remain attractive to central and Eastern European investors and to companies wishing to expand their business operations abroad, wanting to be seen as serious business players in the Western European market.

In addition, due to market volatility caused by high inflation, increased fuel prices, the weakening pound and the geopolitical situation, an increase in distressed M&A activity is also anticipated.


Oksana Howard is a Partner at Colman Coyle Ltd. 

The opinions expressed are those of the author(s) and do not necessarily reflect the views of their employer, its clients, or Portfolio Media Inc., or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.

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