Close Brothers, the leading independent European corporate finance house, has been ranked in the top three M&A advisors to private equity groups in the German-speaking countries of Europe in 2005.

According to independent research by L.E.K, one of the world's leading strategy consulting firms, Close Brothers ranked third, closely behind Goldman Sachs and Lazard Brothers, in advising on sell-side transactions on behalf of private equity groups in Europe's German-speaking regions.

The L.E.K research shows that by the end of November, there had been 127 private equity related M&A deals in German-speaking Europe in 2005, equivalent to an 8% annualised increase over 2004.

In the last twelve months, the Close Brothers European network has advised on a total of 183 transactions.

Commenting in the report findings, Ernst von Freyberg, Managing Director, of Close Brothers Germany, said:

"The consolidation that everyone has been expecting in the German market for some time is now beginning to happen.  This is largely being driven by the interest international investors are showing in German assets.  In response, German corporates and private equity firms are seeking independent advice to ensure they are getting not only the best price but also the best strategic partners for the future."

Stephen Aulsebrook, Co-Chairman of Close Brothers said:

"The last year has been a record year for Close Brothers across Continental Europe.   The German corporate finance market is evolving rapidly and our own business in Germany reflects that growth.  We have invested heavily at all levels and are very bullish about what 2006 holds.  We expect to see increased demand across all areas of our business, from M&A, to debt advice and corporate restructuring advice."

Enquiries:

Justin Clark

Close Brothers Corporate Finance

+44 (0)20 7655 3784