A CFO Recruiter’s Perspective on a Buoyant Quarter

The M&A market in the East Midlands continues to reflect the region’s entrepreneurial energy and strong investment appetite.

There has always been a close link between deal activity and the appointment of CFOs within the private sector. I help boards and investors appoint pre-deal, post-deal and in the middle of deals. The advisors, investors and funders are the core network for Pratap Executive. I leave the technical expertise of the deal to them. My contribution can be at least as impactful – introducing the right CFO to manage the process as effectively as possible.

I plan to share my reflections on the headline deals, investment themes and the implications for finance leaders. With expert insight from Clearwater and data powered by Beauhurst, we spotlight what matters for CFOs navigating change.

Q2 Deal Activity across the East Midlands

I have tracked:

• 33 companies from the East Midlands region making acquisitions
• 7 companies successfully fundraising at least £500k
• 4 MBOs

Some of the most noteworthy deals include:

• Cronofy (A software developer in Nottingham) received a £15m investment from BGF to accelerate global growth.
• Duncan & Topliss (An Accountancy firm HQ’ed out of Grantham) acquired NA Associates. Another example of prolific deal activity in the professional services sector.
• Compleat Food Group (European FMCG manufacturer backed by PAI Partners)in Nottingham acquired Freshpak Chilled Foods.

Overview from Alex Jarrett & Richard Ellis - Clearwater

The East Midlands M&A mid-market gained solid traction in Q2 2025, with growing investor confidence and improved transaction flow following a slightly quieter Q1. Activity was driven by strong interest in high-quality regional businesses, particularly in tech, advanced manufacturing and specialist services. Private equity appetite remains healthy, especially for scalable, growth-oriented platforms.

‍Clearwater remains active across the region, having advised on the sale of Chesterfield-based IT solutions provider CCS Media to Advania, which was named Large Deal of the Year at the recent East Midlands Dealmaker Awards. Other notable transactions include Lincolnshire-based ADHD-360 sold to G-Square-backed Keys Group and KAM Project Consultants sold to Northedge-backed Contollo Group.

Overall, Q2 reflected a more buoyant outlook across the East Midlands M&A market, with momentum building and a healthy pipeline shaping up for H2 2025.

Q2 Recruitment Activity around Deals

• CFO appointments over the quarter were strong with over 20% within the PE owned businesses.
• Fractional CFO appointments growing across many sectors but especially in early-years businesses and the technology sectors.
• “Deal literacy” – whether exit planning or M&A appearing on 60% of the briefs that we have managed during the quarter.

To discuss anything further, feel free to contact me on:

Euan Begbie

euan@pratappartnership.com

07512 332 668