ThinCats takes top spot as leading debt provider across the UK in first quarter of 2025
- ThinCats is the leading debt provider nationally and in the South East, the Midlands and the North West
- Q1 2025 saw a 24% decrease in deal volume compared to 2024, the most subdued quarter since mid-2020
Read the full Q1 2025 M&A Experian Market IQ report here
Experian’s latest MarketIQ report, covering transactions up to the end of March 2025, reveals a sharp decrease in deal activity with the UK M&A market seeing a 24% decrease in deal volume compared to the same period in 2024, the most subdued quarter since the middle of 2020.
Economic uncertainty alongside low consumer and business confidence contributed to the decrease in the number of deals supported by newly agreed debt.
ThinCats maintained its position as the UK’s leading debt provider for M&A, funding 12 transactions in the period, surpassing HSBC and Triple Point in second place, both achieving eight deals.
Strong market presence is also reflected in our ranking as the top debt provider in multiple key regions across the UK including:
Despite significant market uncertainty, we are pleased to continue to support UK mid-sized businesses and come top in the most recent report. From our discussions with business and corporate advisors, it is clear that the UK Chancellor's Autumn Budget has had a negative impact on dealmaking with many businesses pausing growth and recruitment plans in response to tax hikes. This has clearly had a bigger impact on people heavy businesses like retail, hospitality and leisure. The good news is that there is a degree of resilience among services and B2B. Mid-sized business sentiment seems to be turning more positive and as a result we expect to see the resurgence in PE-backed deals and general activity in the second half of this year.Ravi Anand, Managing Director
Recent M&A transactions
We supported Bluprintx, the strategic digital transformation consultancy backed by Palatine Private Equity, with its acquisition of Australian Salesforce specialist Skie, in a move that significantly strengthens its global Salesforce capabilities and underlines its ambition to become a leading global consolidator across the Salesforce and Adobe ecosystems.
We backed Queen’s Park Equity (QPE) in providing Wordwall a leading provider of interactive learning tools for educators, with significant investment to help accelerate growth, enhance product innovation, and expand its global reach.
We are thrilled to have provided funding to support ACC Aviation, a leading global provider of aviation services, in its transition to an Employee Ownership Trust (EOT), marking a significant milestone in its 20-plus-year journey.
We are excited to have supported Maven Capital Partners’ (“Maven”), one of the UK’s leading private equity firms, investment in Digital Rewards Group (“DRG”), a digitally led closed user group discount platform which connects its members with attractions and partners, in addition to providing loyalty led brand partnership campaigns.