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UK - Statistics show recycled deals prop up deal flow
Secondary buyouts accounted for over half of all exits by value in 2007, with deal value reaching a record £14.4bn on the back of 124 transactions, according to data released today by CMBOR. This is nearly double the £8bn recorded in 2006. The number of private equity-backed IPOs fell in 2007 to their lowest level since 2002. There were just 14 flotations last year compared to 21 in 2006. Exit value fell to £23.8bn in 2007 from the record £26.9bn achieved in 2006, although volume rose from 335 to 400. The average exit value in 2007 was £59.3m compared to £80.2m the previous year.
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