M&A Business Network raises £40,000 for Norwood25 May 2012Press Release Norwood’s M&A Network has firmly established itself as a key industry initiative, providing unique opportunities to network whilst raising money for Norwood and its life-changing services. Its third event held last night raised a record £40,000, for the Charity’s vital work. 130 professionals from the mergers and acquisitions, private equity and corporate finance industries attended the fundraiser at Le Meridien Hotel, which was generously sponsored by J.P. Morgan and FTI Consulting. Following a short film outlining some of Norwood’s lifelong learning and employment services, Dan Adler, Chairman of the M&A Network Committee, welcomed the guests and made an appeal on behalf of the Charity. He commented "The Norwood M&A group is a wonderful networking opportunity for people from across the sector to come together in aid of a wonderful cause. We are proud to be raising money to support the fantastic work that Norwood does providing dozens of vital services to help to change the lives of people with learning disabilities and children and families in need." Committee member Marc Cohen, introduced the panel of industry experts, Mark Florman (BVCA), Richard Clarke (KPMG LLP), Michael Kalb (Sun European Partners), Claude Littner (Viglen) chaired by John Waples (FTI Consulting). Michael Kalb emphasised that "cash is king" saying "We are one of the few companies not scared to do deals right now due to our ability to write a cheque for the entire transaction." The panel went on to discuss where they see the most challenges in the economy and growth opportunities for UK business. This sparked a lively debate around youth unemployment, the scale of professional fees, the impact of uncertainty and lack of stability in Europe and the reluctance of the banks to lend. Claude Littner warned of the "shareholder spring" and felt that there was a huge problem with, what he called, "a jealous culture". Mark Florman commented on the recently announced restrictions on charitable giving, implying that wealthy people shouldn’t be as wealthy as they are, or that they are trying to evade tax by giving to charity. He suggested that "Society needs a greater sense of confidence in business people and added that "It is important to be supportive of society around us and do as much as we can to help worthy charities." Jessica Levy, Events Fundraising Manager for Norwood said: "We are thrilled with the success of the third M&A event and cannot thank our guests enough for their generosity on the night, which will help Norwood to continue providing the life-changing services on which so many people with learning disabilities, and children and families in need, rely. I would also like to thank our guest speakers for a lively, interesting and highly entertaining discussion."