Market Background
Sloane was formed in 1991 to provide independent corporate advisory services as traditional British merchant banks found themselves acquired by continental European commercial banks, such as Deutsche Bank, Dresdner Bank, UBS and Credit Suisse and as US investment banks began to make inroads into the United Kingdom’s domestic corporate finance markets. From its inception, Sloane’s remit was always cross-border mergers and acquisitions and capital raising. Sloane’s corporate finance team specialised in utility and infrastructure transactions and was instrumental in the early 1990s in initiating the takeover of two of the privatised regional electricity companies (RECs) quoted on the London Stock Exchange, Midlands Electricity and Yorkshire Electricity. The team went on to advise a diverse portfolio of international clients looking to acquire controlling stakes in quoted and unquoted power companies and energy projects across the globe, from emerging markets in Latin America, Africa and Asia to advanced countries such as the United States. In June 2016 the pattern of supply chains for infrastructure projects changed dramatically with the disruptive force of the Brexit vote which led to the United Kingdom leaving the European Union. British exporters have been challenged to find new markets, and this has been reflected in the level of support provided to exporters by the British government’s export credit agency. The Export Credit Guarantee Department of the 1990s has been revamped into United Kingdom Export Finance which, since the Brexit vote, has seen its capital doubled to allow a significant increase in available export credit cover. Sloane has expanded its advisory services to include project and trade and commodity finance as well as its traditional strength of corporate finance to meet the increased opportunities which changing times have now presented. A key area where Sloane is currently active is in advising water treatment companies on financing infrastructure construction activities.