Standard Life Investments

Press Release

SL Capital Partners Q2 2015 unquote" Private Equity Barometer

21  August  2015

Large cap and middle market transactions help buyouts to their highest total value for over 10 quarters.

Preliminary figures have been released today in the Q2 2015 unquote” European Private Equity Barometer, published by unquote” in association with SL Capital Partners

Overall European Private Equity

  • The number of European private equity-backed buyout deals declined by 24% in the second quarter of 2015, from the 392 transactions seen in the previous three months to 296 transactions
  • Combined deal value rose by 115%
  • At €147m, the average deal value in the second quarter was 185% higher than that of the previous quarter
  • On an annualised basis, the 12 months to Q2 2015 saw a movement towards larger deals; total deal value increased by 29%, while total volume slipped by 8% (as compared to the 12 months to Q2 2014)

European Buyouts

  • Deals increased to 131 in the second quarter – an increase of nine from the 122 deals completed in the first quarter of 2015
  • Aggregated value also increased markedly – rising by 144% from the previous quarter’s total of €16.6bn, to €40.7bn
  • In Q2 2015, the small-cap segment was the only segment to register a decline in volume and value, a 10-deal decline, with the number of sub-€100m buyouts falling from 82 (€3.27bn) to 72 (€3.26bn)
  • DACH region and Benelux were the only two areas to register a decline in total deal volume, accounting for 9% and 13%, respectively, of all European private equity-backed buyouts in the second quarter.
  • In regional terms, France recorded the steepest increase in deal numbers – up 53%, from 19 to 29 deals. Total deal value tripled, from €2.5bn to €7.5bn
Peter McKellar

Commenting on the figures, Peter McKellar, Senior Managing Partner of SL Capital Partners said;

“The European private equity market as a whole saw a decline in deal flow volumes, but a substantial increase in the total enterprise value of transactions announced in Q2 2015. Large cap and middle market transactions helped buyouts to their highest total value for over 10 quarters. It appears that the core European buyout market continues to offer managers attractive investment opportunities. Against this background, we remain positive on the medium term outlook”

Standard life Investment