Harvey Nash is looking for bolt-on acquisitions of smaller companies that will support and compliment its business strategy. Chief Executive Albert Ellis, told Recruiter that despite the market for Mergers & Acquisitions (M&A) being “gummed up” Harvey Nash had been active in the market. Ellis said that progress in the discussions with a number of potential companies, which he did not identify, were “proving difficult” as firms were “hunkering down” in the current economic climate.   

Christopher Clark corporate finance partner at BDO Stoy Hayward, added that M & A activity was at a low ebb because companies could not get the funding required for deals. Clark said he didn’t expect activity to pick-up until March next year at the earliest.

Ellis added: “I think if the economy takes shape again in the US and share prices rise quickly you will see a keen interest in undervalued businesses.”