Led by partner Neil McInnes, the team advised on 17 deals with a cumulative value of £363 million. Four of these deals involved cross-border transactions, and 11 were related to private equity.

Mr McInnes said: “We are delighted to report that 2023 was another strong year for the team. Whilst the market conditions have provided some challenge, its particularly pleasing to see the number of quality deals that were delivered, making 2023 our third-best ever year.

“We believe our strong performance in the Scottish marketplace is down to our approach of blending deep sector knowledge with a strong regional presence.”

He continued: “One of the team’s key strengths is its ability to build long-term relationships with clients on both buy and sell-side, positioning businesses well for sale or identifying strategic buyers wherever they might be in the world.”

One standout deal for Grant Thornton’s Scottish team was the sale of Glasgow-based Deans Civil Engineering to RSK, the over £1 billion revenue global group of environmental and engineering businesses.

Other highlights throughout 2023 for the Scotland deals team included Ancala Partners’ investment into Noventa Energy, a renewable energy company deploying novel wastewater to energy technology, as well as Altier Capital-backed Halcyon on its acquisition of FingerPrint Global and Glasgow-based Harper McDermott transfer to an employee ownership.

Mr McInnes concluded: “With a strong pipeline for 2024, the year is positioned well for another strong performance. We thank all our clients and work referrers for their continued support.”