Shocking statistics were announced at the launch event for CBHC which took place at Essex County Cricket Club last night
Chelmsford & Romford based firm CBHC, officially became full members of The Corporate Finance Network with the presentation of their membership certificate in front of over 50 of their professional contacts, at an event last night.
Jeremy Allen, Non-Executive Chairman spoke about his role in the firm and how he intends to keep them as the market-leading firm in the region, a sentiment echoed by Kirsty McGregor, Founder of The Corporate Finance Network, who has appointed them the sole representatives for The CFN in Essex.
An invited audience of bankers, lawyers and professionals from the region listened with interest about the new resources that CBHC can now access, and how the current level of deals in disproportionately low in the Essex area, a situation she encouraged all present to aim to change.
"Our research from Experian Corpfin shows that whilst 4.5% of the UK's businesses are based in the Essex postal county, the volume of reported M&A deals by companies in this region is a fraction of that. This is a statistic which it is in all our interests to change. When business owners want to retire, if they can't sell their company on, they will have to wind it up. That inevitably means a brand is lost and, more importantly, so is employment.
With The CFN tools and products that CBHC can now use, over the coming months, we would expect that more small businesses should be considering acquisition or mergers, and older business owners will start to develop a more structured exit plan at targeting particular purchasers."
One of the professionals in attendance was Kevin Thorn, Area Commercial Director of HSBC Bank plc, who said he was very impressed with the approach taken by The CFN and believes that CBHC's appointment will fill a real gap in the Essex market for specialist advice of this nature.
Ian Harris, director responsible for Corporate Finance at CBHC, commented "We are delighted to announce our membership of this innovative and professional network. We believe the tools and support which The CFN provides will only help us to continue assisting our clients in the areas of fundraising, disposals and
acquisitions. We are extremely excited to be able to introduce these products to Essex businesses with immediate effect."
Pictured l-r are Jeremy Allen (non-executive Chairman of CBHC); Kirsty McGregor (founder and Chairman of The Corporate Finance Network) and Ian Harris (director at CBHC)