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2015 Mid Year

 
 

2015 l 1st Half l Trends Report l Private Equity Industry

Wednesday, July 22, 2015

1ST HALF 2015 KEY HIGHLIGHTS

  • The largest transaction in 1st Half 2015 was Permira and CPP Investment Board's acquisition of Informatica Corp., a provider of enterprise data integration software and services, for $4.77 billion.
  • The most active acquirers year-to-date in the Education vertical, either purchased directly or through an affiliated business, were The Riverside Company and Providence Equity Partners with three transactions each.
  • The most active acquirers year-to-date in the Finance vertical, either purchased directly or through an affiliated business, were BlackFin Capital Partners and Genstar Capital with three transactions each.

1ST HALF 2015 KEY TRENDS

  • Total transaction volume in 1st Half 2015 increased by 12 percent over 2nd Half 2014, from 274 to 308.
  • Total transaction value in 1st Half 2015 rose by six percent over 2nd Half 2014, from $23.49 billion to $24.99 billion.
  • The peak for deal volume over the last 30 months occurred in 1st Half 2015, whereas value reached its zenith in 1st Half 2014.
  • The median revenue multiple improved from 1.8x in 2nd Half 2014 to 2.5x in 1st Half 2015. The median EBITDA multiple declined from 16.8x in 2nd Half 2014 to 14.5x in 1st Half 2015.

M&A Market Overview

Berkery Noyes tracked 1,316 private equity transactions between 2013 and 1st Half 2015, of which 245 disclosed financial terms, and calculated the aggregate transaction value to be $88.83 billion. Based on known transaction values, we project values of 1,071 undisclosed transactions to be $22.18 billion, totaling $111.02 billion worth of transactions tracked over the past two and a half years.

Disclosed median revenue multiple for all segments combined in this report in the last 30 months were 2.3x revenue and 12.6x EBITDA.



 

Transaction Volume/Value & Multiples

Transactional Analysis

M&A Dynamics by Acquirer Type

Purchaser Analysis

Transactions Involving an Online Component

Footnote