Brighter Horizons- a bolder future for Canadian M&A

02 February 2016

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Canadian M&A activity is expected to accelerate in 2016 as low energy prices attract buyers to the market, according to Brighter Horizons- a bolder future for Canadian M&A, a report sponsored by Citi in association with Mergermarket.
 
According to the survey, 70% of respondents predict a higher level of M&A activity over the next 12 months, with 20% expecting a significant increase. Developing influence and demand from private equity firms will likewise drive deals (36%), as these buyers become increasingly aggressive in their acquisitions.
 
Highlights include:
 
  • The biggest increases in Canadian M&A activity are expected in domestic and inbound deals. Forty-eight percent of respondents predict an uptick in domestic deals and 81% believe that inbound deals will increase, while only 33% foresee a rise in outbound M&A.
  • The greatest challenge to Canadian M&A in 2016 will be the valuation gap between buyer and seller according to 68% of respondents, trailed closely by volatility in global commodity prices (62%).
  • When asked what sectors they think will see the most Canadian M&A activity, respondents identified Energy (50% for Domestic M&A, 48% for Inbound M&A) and Mining (34% for Domestic M&A, 28% for Inbound M&A) in 2016

Aviation and Aerospace Quarterly Q4 2015

04 February 2016

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ICF International (formerly ICF SH&E) is pleased to present the tenth edition of the Aviation and Aerospace M&A Quarterly, published in association with Mergermarket. The publication highlights M&A activity and trends in the aerospace, aircraft, airline, airport and tech markets in Q4 2015.
 
  • Significant aircraft leasing IPO activity may come in 2016 from Aviation Capital Group, BOC Aviation, and/or CIT Aerospace.
  • China’s HNA Group acquires 23.7% stake in Brazil’s Azul for US$450m.
  • Bridgepoint Capital buys Element Materials Technology from 3i Group for an estimated US$976m.
  • VINCI Airports acquires Dominican Republic’s Grupo Aerodom and wins concession to operate Japan’s Kansai and Osaka Airports

Ahead of the curve: Challenge and opportunity in the global oilfield services industry

08 February 2016

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Mergermarket is pleased to present Ahead of the curve: Challenge and opportunity in the global oilfield services industry, published in association with Pinsent Masons.
 
Based on interviews with 200 senior-level executives across the oilfield services industry, Ahead of the curve reveals that dealmakers are primed for a surge in M&A activity in response to a ‘lower for longer’ oil price reality.
 
Key findings include:
 
  • 86% of respondents expect oilfield services M&A to increase in the next 12 months, with 30% anticipating a significant increase.
  • 74% of respondents pinpoint expansion of overseas operations as the main driving force behind deal activity, with 70% expecting opportunism around distressed assets to drive deals, and 60% eyeing technology-driven consolidation.
  • Respondents reveal that Singapore, Mexico, Indonesia and Nigeria are the most attractive emerging markets, with falling valuations and new strategic deal structures presenting lucrative outbound investment opportunities.
  • 96% of respondents say UKCS will recover to ‘peak’ levels of profitability, with a quarter expecting it within three years.

Toppan Vite – Waiting out the storm

09 February 2016

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Companies are biding their time before going public in 2016, as US equity markets cope with global volatility. Financial filings indicate offerings in the pipeline, however, with technology and healthcare firms leading the way. What are the IPO trends to watch this year?
 
Toppan Vite, a trusted financial printing and communications company, in partnership with Mergermarket, asked three M&A experts for their thoughts on the year ahead.
 
Points of discussion:
 
  • Key sectors to access IPO markets over the next year.
  • Impact on financial sponsors from the reduction in public market access.
  • Factors that will determine the direction of IPO markets in 2016.
 
See more and subscribe to Toppan Vite’s Blog here.
 
Toppan Vite, a leader in financial printing, delivers a hassle-free experience for mission-critical content for capital markets transactions, financial reporting and regulatory compliance filings, investment companies and insurance providers. Part of the world’s largest printing company with over $13 billion in annual sales, we have the scale, financial strength and commitment to be the partner of choice for mission-critical transactions, any size, across the globe. Learn more at us.toppanvite.com

A brave new world for international leveraged debt

11 February 2016

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We are pleased to present A brave new world for international leveraged debt, published in association with White & Case.
 
Using data from Debtwire Analytics and Xtract Research, A brave new world highlights the key factors and trends that are driving leveraged loan allocations and high yield bond issuance across Europe and the rest of the world.
 
Highlights of the report include:
 
  • Combined European leveraged loan and high yield bond issuances stood at €179 billion by the end of 2015, down from €230 billion in 2014.
  • Covenant lite term-loan B was one of few leveraged loan instruments to see increased issuance in Europe in 2015, with 48 deals worth more than €19.5 billion.
  • The average deal size in the European high yield market was €524 million last year, far outstripping the €355 million average tickets in 2014.
  • Twenty-three percent of European first-lien loans were covenant-lite in 2015, compared with 15% in 2014.
  • Leveraged loan and high yield bond values and volumes were down in nearly all markets in Western Europe in 2015, with the Nordics, Benelux and Spain showing the biggest falls.

Deal Drivers EMEA Full-Year 2015

11 February 2016

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Mergermarket is delighted to release the full-year edition of Deal Drivers EMEA, in association with Merrill Corporation.
 
The report provides an in-depth review of M&A activity for the full-year of 2015, offering key insights into how announced deals of 2015 will impact M&A in the year ahead.
 
Highlights from the report include:
 
  • The top 10 deals of 2015 were spread across five sectors, but more than half came from the pharma, medical and biotech (PMB) and telecommunications, media and technology (TMT) sectors.
  • Private equity buyout value in 2015 increased 13% to €122.4bn, although buyout volume dropped 6% to 1,093 deals. This indicates that intense competition between strategic buyers and PE firms continues to drive up valuations for quality European targets.
  • The UK and Ireland accounted for 58% of deal value in Europe in 2015 and 24% of volume; the top spot by both measurements.
  • Central and Eastern Europe (CEE) is set to be the busiest M&A market over the coming months, according to Mergermarket’s, which tracks ‘companies for sale’ stories in H2 2015.

Latin American M&A Spotlight Latin American M&A Spotlight

11 February 2016

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The Latin American M&A Spotlight report, published by Greenberg Traurig LLP in association with Mergermarket, reveals a bright outlook for 2016 despite a turbulent 2015. Notwithstanding the fallout from corruption scandals in Brazil and negative economic forecast for Mexico due to falling oil prices, there remain bright spots for dealmaking activity in Latin America for the year ahead.
 
Fifty-four percent of respondents predict a modest increase in M&A activity for 2016 while 38% forecast a significant rise. Respondents said that relative to other markets, Latin American deals still offered attractive pricing opportunities, especially in the commodity and oil and gas sectors.
 
Some key findings from the report include:
 
  • The outlook among respondents for both inbound and intra-regional dealmaking was optimistic; two-thirds of respondents believe intra-regional will significantly increase, compared to 42% for inbound M&A.
  • Mexico and Brazil (82% and 80%, respectively) emerged as the countries expected to be the most active bidders for businesses in other Latin American countries.
  • Strategic investors (88%) are expected to be the main players in Latin American M&A during the next 12 months. The influence of strategic buyers was particularly pronounced at a domestic level, where large transactions such as Mexican retailer Organización Soriana’s US$2.7bn investment in Mexico-based hypermarket group La Comercial demonstrate the key role that strategics are playing in local deal markets.

Deal Drivers Americas Full-Year 2015

11 February 2016

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Mergermarket is pleased to release the full-year edition of Deal Drivers Americas, in association with Merrill Corporation.
 
This report provides an in-depth review of M&A activity for the full-year of 2015, offering key insights into how announced deals of FY 2015 will impact M&A for the year ahead.
 
Highlights from the report include:
 
  • The value of US tech deals in 2015 almost doubled from a year earlier, hitting US$249.1bn. In 2016, major acquisitions and consolidation are expected to continue among players in established technologies, such as cloud computing and Big Data, while a new wave of innovation could drive the mid-market in areas such as Internet of Things, fintech, and marketing tech.
  • Private equity firms in the Americas are expected to be highly active in 2016, targeting mid-sized tech, post-acute healthcare, high-growth retail, and E&P companies.

Inward bound: Inbound M&A into the EU

16 February 2016

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Mergermarket is pleased to present Inward bound: Inbound M&A into the EU, in association with Orrick. The report, which surveyed 250 senior-level executives based outside the EU, looks at the drivers and challenges for buyers targeting EU companies, as well as the outlook for dealmaking in the coming year.
 
Highlights of the report include:
 
  • 95% of survey respondents say that their most recent acquisition within the EU has made them more likely to invest again in the EU as a whole.
  • 95% believe there will be growth in the EU over the next two years.
  • 51% of respondents plan to make two or more acquisitions in the region over the next three years.
  •  86% plan to buy at least one EU target in the coming three-year period

PwC Private Equity Trend Report 2016

22 February 2016

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Mergermarket is pleased to provide the Private Equity Trend Report 2016 published by PwC, the 10th annual survey on current developments in German and international private equity (PE) investment.

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