99 problems? Not for this M&A bank, which recently advised on Jay Z deal
An investment bank which recently advised on a Jay Z deal has reported record revenues for 2016.
GCA has reported a turnover of £148m and earnings before interest and taxation of £27m for the year to 31 December.
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The results are the first to be reported since Japanese investment bank GCA merged with Altium to create the firm’s European business GCA Altium, which is headquartered in Manchester.
GCA successfully completed 133 deals over the course of the year. Recent deals included advising music streaming business Tidal, which is part-owned by popstar Jay Z, on its investment by Sprint, and BooHoo.com on its takeover of Pretty Little Thing.
The European business completed a total of 66 transactions, including advising casual UK dining chain Loungers on its £137m sale to Lion Capital.
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“These are the first results to be reported since our merger, and I am delighted that they show exactly why we followed this route,” said GCA Altium chief executive Phil Adams. “We now have a balanced business with similar scale in employees and revenues across each of Europe, Asia and the US.
“With 14 offices across 10 countries, we are a truly integrated and focused M&A business, differentiating the firm from many of our competitors, and these results highlight that we are a major player on the global stage, as well as in our local markets.”