Analysis/Buyouts
Small deals, big results
Small deals, big results
The Southern European renaissance
After a bleary-eyed summer, Southern European deal activity awoke last month with a notable increase in both volume and value.
Q3 Barometer: European deal flow plummets 35%
Q3 Barometer
Strong Q3 puts UK back on track
A strong third quarter showing in UK deal activity has helped put the market back on track for 2012, according to the latest unquote” UK Watch, in association with Corbett Keeling.
DACH PE Congress: Sourcing in a low-growth environment
With the eurocrisis overshadowing any economic and fiscal concern on the continent, GPs have to rethink how to successfully source deals and impress investors to secure commitments for future funds. Anneken Tappe reports from the unquote” DACH Private...
Strong economy belies faltering buyout market in Germany
With debt scarcely available and cash-rich corporates looking to diversify through acquisitions, Germany’s buyout market has suffered a heavy blow these last few years - but it is still well-placed to take advantage of opportunities. John Bakie reports
French capital gains tax reform spells trouble for PE
The French government is pushing forward with an in-depth tax reform, as announced by new President François Hollande during the Spring election, which will see capital gains taxed at the same rate as income tax – a move likely to worry local fund...
Stock markets blocking the PIPE
The number of investments by private equity funds in publicly traded shares has fallen significantly in the past two years as the stock market has detached from measures of GDP, according to figures from unquote” data.
LPs getting to grips with the (right) secondary buyout
Secondary buyouts
Chasing the primary deal
Firsthand experience
Foreign GPs boost Nordic buyout figures
Two months into the second half of 2012 and buyout statistics for the Nordics send out mixed signals.
Top 5 buyouts of 2012 so far
Top 5 buyouts
Are buyout firms well placed for healthcare reforms?
UK healthcare
Mid-cap GPs pay less than corporates as entry multiples drop
For the first time in two years, between April and June, private equity houses paid a lower median entry multiple than corporate buyers in mid-cap transactions, according to the latest Argos Mid-Market Index.
Private companies rethink pricing
The recession has had little effect on company valuations, but now companies are becoming more realistic about their value, writes John Bakie
Mid-cap valuations register modest drop – Argos Index
Modest drop in mid-cap valuations
Buyout market could see worst year since 2009
Latest figures show Europe’s buyout market has failed to recover from the market malaise of late 2011, brought on by the Eurozone crisis, particularly at the upper end of the market.
Nordics see strongest first quarter since Lehman
Despite reputational, regulatory, and macroeconomic concerns lingering from the second half of 2011, the Nordics has experienced its strongest first quarter since Lehman Brothers collapsed and brought the global economy to its knees.
Larger UK buyouts pick up in Q1
Larger buyout activity is picking up pace once again after suffering in late 2011, according to the latest finding of the unquote” UK Watch, in association with Corbett Keeling.
Hedge funds: A new source of dealflow
The credit crisis has left hedge funds holding on to unwanted equity stakes. Could this be a new source of dealflow for private equity buyers? Sonnie Ehrendal investigates
Buyout recovery stalls at one third peak levels
Europe’s buyout market recovery stalled at just a third of the level seen at its peak, according to data from the unquote” European Buyout Review 2012.
French SBO boom: no end in sight?
France’s booming buyout market is being fuelled by a glut of SBOs. However, more primary deal activity will be needed to maintain the market’s momentum. Greg Gille reports
Matrix hits grand slam for deals, exits in 2011
As the downturn drags on, most GPs are laying low and hoarding cash. One small buyout house stood out for achieving four investments and four new exits in 2011 – and has just announced its independence. Kimberly Romaine reports
French mid-market continues steady climb
French mid-market buyouts staged a startling recovery last year, confirming that the 2010 uptick wasn’t a fluke – but can they keep climbing back to historical levels in the face of a tough environment? Greg Gille reports