It has been hard to keep attention away from Scotland, what with its vote last week to remain part of the United Kingdom. The headlines made us curious about the country’s PE activity, as well, particularly as many felt secession would have negatively impacted the region’s economy. Along the same vein, a popular sentiment is that Scotland’s new political certainty post-vote could reassure investors formerly wary of the financial climate as the country debated independence.
Click to explore the data on the PitchBook Platform
The PitchBook Platform shows nearly 170 investors have cut PE deals in Scotland since 2005, and the country’s 37 deals completed this year to date match 2013’s pace of 52 (a decade high). A couple notable trends are the increase in B2B deals (65% in 2014 compared to 52% in 2013) and a higher percentage of buyouts. A sector to keep an eye on is energy, as the country’s oil production was a key topic in the secession debate. For example, Aberdeen-based Siccar Point Energy, which will target opportunities in the U.K. continental shelf, agreed to receive $500 million from Blue Water Energy and The Blackstone Group at August's end.