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Q3 2018 Private Equity Industry Trends
Q3 2018 Key Highlights
- The largest transaction in Q3 2018 was the announced acquisition of Dun & Bradstreet by an investment consortium that includes Thomas H. Lee Partners and CC Capital, for $6.7 billion. Dun & Bradstreet provides commercial data, analytics, and insights for businesses.
- In the Healthcare vertical, the most active acquirer through the 1st 3 Quarters of 2018, either directly or through an affiliated business, was Arsenal Capital Partners with eight transactions. Three of these deals occurred in Q3 2018: Pirana Software, KMR Group, and Metrics Champion Consortium.
Q3 2018 Key Trends
- Total transaction volume in the 1st 3 Quarters of 2018 increased by seven percent over the 1st 3 Quarters of 2017, from 618 to 659.
- Total transaction value in the 1st 3 Quarters of 2018 rose by three percent over the 1st 3 Quarters of 2017, from $61.1 billion to $62.3 billion.
Multiples & Value Trends
- The median revenue multiple on a year-over-year basis remained constant at 2.5x.
- The median EBITDA multiple on a year-over-year basis moved upward slightly from 11.8x to 12.5x.
Top Ten Deals Through Q3 2018
- The top ten deals by value have seen two new additions since our half year report. In addition the previously mentioned acquisition of Dun & Bradstreet, Insight Venture Partners announced its acquisition of Episerver, a web content management, digital commerce, and digital marketing solutions company, for $1.2 billion.
- These two transactions, with an aggregate value of $7.9 billion, represented 13 percent of transaction value in the 1st 3 Quarters of 2018 and 46 percent of Q3 2018 transaction value.