Multiples Heatmap: DACH deals, mega-buyouts drive inflation

The average valuation for PE platform investments remained stable across Europe in Q3 2018. Despite seeing a 7% fall in multiples in Q3 2018, the Nordic region remained the hottest and was joined by the DACH region, which has experienced multiple inflation through 2018 – notably in the TMT sector, reaching its highest level since our analysis started.

The CEE and southern Europe regions represent best value opportunities with multiples falling by 12% and 9% respectively in Q3 2018. The Benelux region saw multiples in line with Q2 2018, while valuations in the France and UK/Ireland regions continued to see steady inflation, increasing by 7% and 3% respectively in the quarter. Greatest volatility in multiples were seen in the CEE and DACH regions.

The best value continued to be seen in the €50-250m deal range, with the lower end experiencing 7% inflation and the higher end seeing a 9% fall in multiples.

Meanwhile, mega-deals continued to be the hottest, with valuation of deals of €500m+ inflating by 10%. Multiples on sub-€50m transactions remained in line with Q2 2018.

Click here to download the full Q3 update of the Multiples Heatmap, including detailed analysis of the DACH region, and the consumer and industrials sectors.

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• Topics
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• UK / Ireland
• DACH
• Nordics
• France
• CEE
• Buyouts
• Southern Europe
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