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 ТЃ14.4bn on the back of 124 transactions, according to data released today by CMBOR. This is nearly double the ТЃ8bn 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 ТЃ23.8bn in 2007 from the record ТЃ26.9bn achieved in 2006, although volume rose from 335 to 400. The average exit value in 2007 was ТЃ59.3m compared to ТЃ80.2m the previous year.