Corporations and other strategic buyers are presenting buyout shops with serious competition in today’s heated market, but they’re also supplying a rich source of exits, according to the Buyouts cover story, published June 20.
As of June 13, strategic buyers around the world bought 15,825 companies, including full or partial stakes, with a combined value of $1.2 trillion including the net debt of target companies, compared to 16,683 deals with a combined value of approximately $852 million for the same period last year, according to Thomson Reuters, publisher of Buyouts. Strategics were the most active buyers in deal activity during the first five months of the year, according to a study by Pricewaterhouse Coopers cited recently by peHUB, accounting for 82 percent of the deal volume, or 1046 transactions worth $384 billion. Financial buyers accounted for the rest.
With that in mind, Buyouts undertook an analysis of some of the most active strategic buyers of sponsor-backed companies since Jan. 1 2010. Altogether, the 10 strategics we identified bought or have agreed to buy 32 sponsor-backed companies since then with a combined deal value, including debt, of more than $13 billion. Thomson Reuters and Capital IQ were our primary sources.
Below are five of the top strategics. For the rest, go to Buyoutsnews.com.
Bernard Vaughan is a Senior Editor at Buyouts Magazine. Follow his tweets @BVaughanReuters.
The Sarasota, Fla.-based maker of imaging products and software, energy systems and controls, and industrial technology products, together with its subsidiaries, acquired five companies since January 2010, four of which were sponsor-backed. These included Northern Digital Inc., a designer of optical three-dimensional and electromagnetic tracking systems for health care and other sectors it bought from Audax Group; and its $520 million acquisition of iTradeNetwork Inc., a company that develops software that automates the supply chain for the retail and food service industries, from Accel-KKR and ABRY Partners LLC. Roper, with a market cap of around $7.5 billion, reported cash and cash equivalents of $261.45 million, and long-term debt of $1.16 billion, for the quarter ended March 31.