Mid-market shows resilience

Volume of deals in the £10m-250m range in Q1 2008 exceeded by a single transaction volume for Q1 2007 as the capital gains tax changes saw vendors push through sales to avoid the new 18% rate. Such resilient performance was achieved despite the increased difficulty in arranging debt packages as a result of the liquidity crisis. Conditions will remain challenging for the near-future although as Richard Green, managing partner at August Equity says: "The years following a period of correction have historically been a good time to invest. Wherever there are challenges there are opportunities." (See Mid-market feature, page 10).

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