The Experian Deal Review Report indicates Tughans was the most active legal advisor in terms of volume for the first six months of 2016, participating in 27 out of a total 93 deals in Northern Ireland.

The report by the UK and Ireland division of global information services company Experian and the Northern Ireland League tables form part of a detailed review of deal transactions in the UK and Ireland.

While the 93 deals represent a 13.4 per cent increase over the same period in 2015 and as such the highest volume total ever recorded by Experian, the total value was down 36.5 per cent to £798 million.

Manufacturing remains Northern Ireland’s busiest sector for M&A activity, with volumes up almost 30 per cent.

The wholesale and retail sector has also seen a substantial 170 per cent increase in activity with 27 recorded transactions.

John George Willis, head of Tughans’ corporate department (pictured), said: “As a firm we have experienced an active first half of the year as evidenced by our deal tally. The last quarter saw a number of major transactions completed including the purchase of Delta Print and Packaging by Huhtamaki for £80m, the sale of PathXL to Philips and the sale of Sophia Search Ltd to Mixaroo Inc – all major international companies investing in Northern Ireland.

“Confidence in the local market has been growing, and while the Brexit vote has created uncertainty, we believe our home-grown companies will do what they have always done and get on with growing their business in domestic and international markets.

“We have a strong pipeline of work which is testament to the quality of our lawyers and ambition of our clients both locally and internationally, and it is their ambition that will enable our economy to continue to strengthen and grow throughout the rest of this year.”