PRIVATE equity-owned companies have continued to grow turnover and staff numbers during the recession, says a report and survey published by accountants PwC today.
Looking to the Future – Private Equity Backed Company Survey 2011, claims that growth is back at the top of the corporate agenda for PE-backed companies, overtaking cost cutting as the main priority.
Nearly 60% of PE-backed companies surveyed believe they will grow in the coming year, and a similar number believe they will generate greater profits than during the recession.
Debt pressures remain, with some 80% of those polled needing to re-finance by 2015.
Jonathan Cooper, PwC transaction services partner in the North, said: “What is most surprising is that many of these companies have continued to grow through the downturn.
“Although there are concerns about debt levels, the economy and the availability of high quality staff, the general sentiment is positive.”
