Multiple: European buyouts watch January 2013

The 2012 year-end results from Centre for Management Buyout Research (CMBOR) show that the PE European market fell in two camps, with the UK sitting on one side and the rest of Continental Europe on the other.

“PE funds are growing increasingly worried about how the Eurozone crisis will play out and, as a result, the UK has benefitted and held up well compared to Europe.” - Sachin Date, EMEIA Private Equity Leader, Ernst & Young

The level of PE deals in the UK market withstood the difficult market conditions. Both mega deals (€1b and over) and upper mid-market (€250m to €1bn) remained steady. The rest of Europe also saw mega deals continue but there has been a significant slowdown in the lower mid (€50–€250m) and upper mid (€250–€1b) markets.

Despite facing its own economic challenges, the UK economy has remained less affected by the ongoing economic uncertainty in the Eurozone and deal activity continues.

Country spotlight: deal activity in 2012

UK:

Q4: €5.1b from 44 deals 2012: €19.7b from 196 deals

Germany:

Q4: €2.2b from 22 deals 2012: €7.1b from 68 deals

France:

Q4: €1.3b from 12 deals 2012: €6.3b from 98 deals

Nordics:

Q4: €1.6b from 19 deals 2012: €6.8b from 76 deals

Deal activity across Europe:

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