Market Insight
Gap narrows between trade sales and SBOs
Trade sales and SBOs have posted remarkably similar figures in the past six months indicating a narrowing of the historic gap between the two types of exit.
Lower mid-cap renaissance for London in 2012
London was home to a noticeable dealflow uptick in the ТЃ5-50m segment last year, with both activity volume and overall value up by more than 30% on 2011 figures.
London & Scotland see most growth investment
In 2012, the UKтs venture and growth capital scene was once again most active in London, where unquoteт data recorded 82 transactions with a combined value of ТЃ734m.
UK consumer sector: private equity dealflow up 45% in 2012
High street woes notwithstanding, the UK consumer sector proved to be ripe for investment opportunities last year: private equity dealflow was up by 45% compared to 2011 figures while the overall value of these investments rose by a quarter.
Lower mid-market buyouts hit €2bn record in January
France and the UK led Europe in January in the lower mid-market, which saw 18 such transactions across Europe worth a combined €1.9bn - the largest monthly value witnessed for a year. Greg Gille reports
Italy shines in January thanks to CVC mega-buyout
Italy topped Europe's private equity value charts in January, while the UK recorded the most deals, showing both familiar names and outliers starting 2013 on a high.
Capital cities attract most private equity investments
Europe’s capital cities attract the lion's share of private equity investment, though other regions in Europe have been shown to be very active, according to new research from unquote” data.
UK activity falls behind France and DACH
The UK & Ireland private equity market has been overtaken by the French and DACH regions in January according to figures from unquoteт data.
Exit market hits €15bn in December
Almost €15bn worth of capital was realised by private equity portfolio sales in December 2012, the highest amount in the past year, according to figures from unquote” data.
SBOs subside in 2012
Following a record 2011, the volume of “pass-the-parcel” deals abated slightly last year – but primary transactions still have a long way to go before returning to their pre-crisis glory.
Early-stage deals bounce back in Q4
After a slow summer, early-stage investments took off in Q4, according to the latest unquote” Private Equity Barometer, published in association with Arle Capital Partners.
Growth equity deals enjoy Q4 uptick
Growth capital investment activity recovered substantially in Q4 following a poor third quarter, but remains low compared to recent historical averages.
Mega-buyouts bolster Q4 activity figures
The €11.6bn overall enterprise value of Q4’s large-cap deals is the largest total since the third quarter of 2010, which itself was by some margin ahead of every quarter since Q3 2007 (see chart).
Retail sector activity benefits from economic woes
The current economy has forced most retail businesses to rethink their strategy, leaving enough space for private equity firms to come in and get their share.
Germany quiets down in Q4
After a substantial increase in deal activity in Q3, the German private equity market grew quieter again towards the end of 2012.
PE-backed IPOs few and far between in 2012
Moleskine might make headlines if and when it finally lists on the stock market later this year, but flotations remained a seldom-explored exit route for GPs in 2012, continuing a trend initiated in 2008.
Cinemas could be the big deal in 2013
While Terra Firma is considering getting out of the movie business, its private equity competitors could see some very attractive investment opportunities this year.
European buyout dealflow falls 30% year-on-year
Despite a strong showing by the UK market, European buyout activity fell by almost a third volume-wise in 2012, according to unquote” data.
Frozen Nordic market
In just two years, Sweden has lost half of its deal volume, showing that even the popular Nordics are not immune from Europe's economic drag.
PE houses still hungry for food & drinks assets
Although most of the large food & drinks deals have seen private equity firms on the sell-side this year – including the recent sale of KP Snacks by PAI partners and Blackstone Group – unquote" has also noted a timid recovery for investments in this sector...
Software and retail lead 2012 exit league
General retailers and software & computer services lead the exit rankings for 2012.
Exit routes: secondary buyouts gain popularity
Secondary buyouts have seen their share of the exit market rise, while trade sales hold steady, according to the latest figures from unquote” data.
UK mega-buyouts worth more than €10bn this year
In defiance of problems on the continent, the UK has seen a surge in mega-buyouts this year, topped off with the recent acquisition of Annington Homes for ТЃ3.2bn.
Volume of exits increases in October
After a slow September, exits picked up again last month, but overall volume seems lower as the year comes to an end.