Q3 2024 Finance Industry Trends

Q3 2024 Key Highlights

The largest deal in Q3 2024 was Bain Capital’s announced acquisition of Envestnet, a leading provider of integrated technology, intelligent data and wealth solutions, for $4.5 billion.

Capital Markets was the most active market segment year-to-date with 97 transactions.

Four of the industry’s top ten highest value deals year-to-date were completed by strategic acquirers.

Q3 2024 Key Trends

Total transaction volume in Q3 2024 increased by 25 percent over Q2 2024, from 85 to 106.

Total transaction value in Q3 2024 decreased by 32 percent over Q2 2024, from $17.8 billion to $12.1 billion.

Multiples & Value Trends

The median revenue multiple from 2023 through the 1st 3 Quarters of 2024 fell 38 percent, from 4.2x to 2.6x.

The EBITDA multiple from 2023 through the 1st 3 Quarters of 2024 decreased slightly from 25.3x to 25.1x.

Top Ten Deals Through Q3 2024

The top ten deals by value have seen four new additions since our half year report: the previously mentioned announced acquisition of Envestnet by Bain Capital, Veritas Capital’s acquisition of the Digital Banking Business of NCR Voyix, CBORD Group’s announced acquisition of Transact, and Informa’s acquisition of Ascential.

These four transactions, with an aggregate value of $10 billion, represented 83 percent of Q3 2024 transaction value.