Proventis Partners Holding GmbH
Proventis Partners: M&A facts for quarter III, 2014
Press release Proventis Partners: M&A facts for quarter III, 2014 Proventis Partners announce the first publication of M&A facts for Machinery & Tools sector Munich, Hamburg, Zurich, 27.10.2014 – According to the M&A- and corporate-finance-advisory Proventis Partners, M&A activity for Cleantech, Industrial Services as well as Logistics slowed down over the 3rd quarter in 2014. Meanwhile, transaction volume within the media sector has more than doubled. In their newly issued industry report, Proventis Partners observed unchanged deal activity in the Machinery & Tools sector. M&A facts are published quarterly, analyzing European midcap-transactions with enterprise values below Euro 500 millions. Cleantech: European Cleantech M&A has shown a notable downward trend over the two previous quarters compared to the beginning of the year. Apart from the decrease in total number of transactions from 219 in the previous quarter to 178 also the transaction volume has plummeted by almost half from 4 bn Euros to 2.1 bn Euros. The absence of big deals above 500 m Euros also leads to a reduction of the average transaction value to 29 m Euros. The evolution of transaction multiples is ambiguous, however the peak value (EV/EBIT) has declined considerably from 21 in the previous quarter down to 16. Industrial Services: Deal activity in the industrial services sector slightly declined in the third quarter 2014. 711 transactions were recorded while Q2 accounted for 795 transactions. In line with the number of transactions, the total transaction volume also experienced a decline. However, the average transaction volume increased, although the value is substantially lower compared to 2013 and Q1/14. After a peak in the last quarter, the EBITDA multiple stabilizes at an EV/EBITDA of 10. Logistics: In the third quarter 2014 the deal activity in the logistics sector decreased by about 25% in comparison with the same quarter in 2013. The German market shows an opposing trend: The number of closed transactions increased slightly in the third quarter 2014 compared to the previous quarter. In this context two deals have to be highlighted: CE Noerpel underlines with the acquisition of Ascherl & Co. Münchner Transport-Gesellschaft its ambition to build a comprehensive transportation network in the south of Germany. Furthermore the Dutch Koopmann Logistics Group consolidates the market for vehicle transportation in central Europe and acquires its German competitor Mohlmann Automobil-Logistik. Machinery & Tools: During the 3rd quarter of 2014 the deal activity was not extraordinary high (partly as a result of the summer vacation) with the average transaction volume being in line with the long-term average. The largest acquisition was led by Siemens, who announced to acquire Dresser-Rand. This transaction is valued at USD 7.6 bn (closing date is projected for the first half of 2015). Additionally we observe, that the European Midcap Transaction Multiples in the 3rd quarter of 2014 declined compared to the 2nd quarter.
Proventis Partners M&A facts exclusively take into consideration transactions for targets with headquarters in Europe. Analyzed transactions as well as quarterly multiples further only include deals with enterprise values below Euro 500 millions. Sources for the report are, amongst others, bureau van Dijk’s databases Zephyr and Amadeus as well as individually performed research. Links to the M&A facts can be found below: Cleantech http://www.proventis.com/_uploads/544f71d59c933/pp-cleantech-ma-facts-q3-2014.pdf Industrial Services http://www.proventis.com/_uploads/544f71d5cdb4a/pp-industrial-services-ma-facts-q3-2014.pdf Logistics http://www.proventis.com/_uploads/544f71d2ca8dd/pp-logistics-ma-facts-q3-2014.pdf Machinery & Tools http://www.proventis.com/_uploads/544f71d2d1d99/pp-machinery-tools-ma-facts-q3-2014.pdf Meda http://www.proventis.com/_uploads/544f71d4bcfb4/pp-media-ma-facts-q3-2014.pdf About Proventis Partners Proventis Partners advises corporates, owners and Private Equity funds on national and international M&A transactions as well as on structuring the appropriate financing solution for corporate finance projects. The support relating to M&A projects ranges from drawing up of strategies to developing post-merger integration approaches. Proventis Partners has experience with transactions in the key sectors of trade, healthcare, industrial services, IT and telecommunications, consumer goods, logistics, mechanical engineering, media, and renewable energy. The team at Proventis Partners has so far successfully led approximately 150 transactions with an aggregate of more than three billion Euros.
End of Media Release Issuer: Proventis Partners Holding GmbH Key word(s): Finance 28.10.2014 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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