Deal values fall after strong March showing

Despite a climb of 62 per cent on April 2010, the volume and value of investment targeting companies in Western Europe declined in April after a buoyant March.


Despite a climb of 62 per cent on April 2010, the volume and value of investment targeting companies in Western Europe declined in April after a buoyant March.

Despite a climb of 62 per cent on April 2010, the volume and value of investment targeting companies in Western Europe declined in April after a buoyant March.

Findings published in the Zephyr Monthly M&A Report shows that the number of deals completed fell from 1,548 in March, to 933 in April, with total deal value decreasing by €20.63 billion (see table below).

Deals by volume and value

Announced date Number of deals Total deal value (mil EUR)
Apr 2011 933 58,277
Mar 2011 1,548 78,909
Feb 2011 1,357 44,631
Jan 2011 1,417 54,060
Dec 2010 2,053 57,024
Nov 2010 1,510 49,932
Oct 2010 1,282 57,711
Sep 2010 1,467 42,348
Aug 2010 1,108 27,238
Jul 2010 1,288 64,707
Jun 2010 1,584 45,622
May 2010 1,364 31,613
Apr 2010 1,434 35,944

                               Source: Zephyr published by BvD

The largest deal involving a UK target was the minority stake purchase in Inchcape for €649 million.  Another large contributor was the €482 million acquisition of Absolute Private Equity by HarbourVest Global Private Equity.

UK targets filled seven spaces in the top 20 private equity deals, with the minority stake purchase in Highbridge Properties leading the way at €297 million.

France-based companies were the biggest contributors to deal value with a total of €17.9 billion, an increase of €15.3 billion over the same period last year. However the UK continued its recent trend of recording the highest volume of deals, with more than three times the amount of deals achieved by the next highest country, France.

Todd Cardy

Todd Cardy

Todd was Editor of GrowthBusiness.co.uk between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital. Connect with...

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