Strength in numbers: The Italian private equity market holds firm despite global headwinds

19 December 2019

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Mergermarket and Unquote are pleased to present Strength in numbers: The Italian private equity market holds firm despite global headwinds, published in association with Gatti Pavesi Bianchi. This report provides invaluable insights into Italian private equity over the last year and examines the outlook for 2020.
                 
Highlights from the report include:
 
  • The Italian private equity market has proved resillient in the face of difficult economic conditions. The first three quarters of 2019 have shaped up very well in terms of volume, with total deal numbers marginally higher than those for the same period in 2018: 114 deals by Q3 in 2018 compared to 117 deals this year.
  • Three of the top five private equity deals in the first nine months of 2019 were for family businesses, including Carlyle's €1 billion purchase of the Forgital Group.
  • Industrials and consumer goods once again dominate in terms of volume, but, thanks to megadeals, healthcare is breaking through in the value stakes. For example, the largest buyout of 2019 - Merieux Private Equity’s €1.1 billion takeover of generic pharma player Doc Generici - was in the healthcare space.
  • In terms of Italian M&A activity, deal volume has held up well in 2019, with 444 deals for the first three quarters of the year compared with 480 in the same period last year. However, value has dropped - from €44 billion in Q1-Q3 2018 to €24.9 billion in 2019.