The latest research from KPMG Corporate Finance proves what everybody knew: 2000 was a record year for UK management buyouts (MBOs).

Although just one more £10m-plus deal was done last year than the year before (150), the total deal value of just under £20bn represented a 39% increase on 1999. Just under half of that figure was accounted for by public to private (PTP) deals which, because of their complexity, is particularly good news for lawyers.