For over two decades, Makinson Cowell has helped the boards of its clients build direct relationships with institutional equity investors; providing objective insight into the way their companies are perceived by these institutions and what this means for the rating of their shares and their ability to raise equity capital.
KPMG’s UK Chairman, Simon Collins, said “Makinson Cowell’s insights into the market views of the shareholder community will help provide independent and objective equity advice linking the boardroom and investors, which can only be to the benefit of all those involved in the capital markets. Furthermore, at a time when companies are increasingly looking to ensure advice is independent from the underlying sources of finance, the combination of KPMG’s debt advisory business with the equity services provided by Makinson Cowell will create a market leading independent capital advisory business. This innovative transaction will establish a unique offering in our market place which we believe will be warmly received by companies and investors alike.”
Commenting on what the acquisition means for KPMG’s Australian firm, Head of Advisory Gary Wingrove said, “Whilst today’s deal is relatively small for the firm, Makinson Cowell has a natural fit with our Corporate Finance practice, particularly our Debt Market team. This acquisition is an important signal to the Australian market that we are looking to grow this business.”
The acquisition provides Makinson Cowell’s team with access to additional resources, and the wider geographic reach that KPMG’s global network can provide will be important in supporting the growing demand for its services and enabling the business to build scale.
Bob Cowell, partner and co-founder of Makinson Cowell added, “For our clients, this move will underwrite the independent model which has characterised our business from the outset and preserve our brand for the future. With KPMG’s support, client base and global platform, we will be able to meet the growing demand from current and prospective clients and expand our geographical footprint and service offering.”
The acquisition is consistent with KPMG’s strategy of building a highly respected, independent financial advisory business which began in 1998 when the firm established an independent debt advisory team under the leadership of Simon Collins (now Chairman and Senior Partner of KPMG UK) advising major corporates on all aspects of their debt financing.
The new capital advisory group will be chaired by Tom Franks, Global Head of KPMG’s Corporate Finance business, with the equity and debt advisory elements continuing to be led by Bob Cowell, Howard Coates and Neill Thomas.
Completion of the acquisition is subject to regulatory consent.