Q3 Barometer: deal volume hits new record with mid-market push
Deal-making reached an all-time high in Q3 with deal volume and total value both climbing significantly across Europe, according to the latest Unquote Private Equity Barometer, published in association with Aberdeen Standard Investments.
There were 698 buyout, expansion and early-stage investments over the quarter. The amount of capital invested also climbed compared with the previous quarter, reaching a five-quarter high at €61.7bn. Aggregate value exceeded the average over the last 10 quarters (€54.7bn).
Aggregate value was boosted mostly by a 58% growth in the number of mid-cap buyouts, which also helped to offset a fall in the value of expansion deals in Q3. There was also a substantial amount of equity invested in early-stage deals, which reached the highest figure of 2019 at €877m.
The buyout market has been strengthening consistently and was only four deals away from hitting 300 – its highest point in the last decade. This resulted in a significant increase in the segment's contribution to both deal volume and value.
Growth capital deals also had a big quarter: despite the value of expansion deals declining to €8.9bn, there were 327 investments, a 10-quarter high. Early-stage investment volume stayed in line with the average over the last year, down slightly a few points on Q2.
Click here to download the full report, including detailed commentary and statistics for the growth capital and venture capital markets, as well as regional breakdowns.
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