
Entry multiples still in double digits for most popular European markets

The latest unquote” and Clearwater International Multiples Heatmap Report, now available for download, neatly reflects the ever-challenging environment for private equity investors.
Pricing in the most popular markets within Europe remained high in Q4 last year, with France, the Nordic countries and the UK witnessing average entry multiples in the double digits.
The most affordable markets unsurprisingly remain central and eastern Europe as well as the southern European countries, although pricing in these areas is still significantly higher than it was around the same period last year. Southern Europe, for instance, saw a 9.1x average purchase multiple in Q4 last year, compared with 7.6x in the first quarter of 2015.
Sectors-wise, financial services continued to see significant appetite at the tail end of last year, with average multiples closing in on the 15x mark. By comparison, the industrial sector was more keenly priced, with entry multiples below the European average.
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater