UK buyout activity bounced back in 2010 as private equity firms rushed to offload cash in competitive auctions but a limited amount of debt to fund acquisitions ruled out mega-deals and cash dominated most transactions, according to research released on Tuesday.

Some £18.2bn in value was raised from 164 deals this year, compared with just £4.7bn from 122 deals in 2009, according to the Centre for Management Buy-out Research, CMBOR, which is sponsored by Ernst & Young and Barclays Private Equity.