Good morning, Hubsters. MK Flynn here with Tuesday’s Wire.
Today, we’ll take a close look at PE Hub Europe’s stellar coverage of European deals, as our period of complementary access comes to an end tomorrow.
But first, some new data just came out this morning demonstrating what you undoubtedly already know: Dealmaking slowed down a lot last year.
Headwinds. Global M&A activity and equity issuance fell sharply in 2022 after reaching some high marks in 2021, according to S&P Global Market Intelligence’s report.
The total value of global announced M&A fell 35.8 percent year over year to $2.983 trillion, while the total value of global equity issuance plummeted 66.6 percent to $351.76 billion.
Global deal values in 2022 recorded the second lowest annual totals for M&A announcements since 2013 and lowest totals for equity issuance since at least 2006.
“Persistent economic headwinds held back global M&A and IPO activity in 2022, and a sharp turnaround is not expected,” said Joe Mantone, the report’s author. “Any signs of the Fed loosening monetary policy should benefit M&A and equity issuance. A more dovish stance would likely lead to a rebound in the equity markets and help open up the IPO window, while lower rates would create better conditions for the financing markets.”
Last chance: Today is the last day to access PE Hub Europe’s outstanding private equity deals coverage sitewide, for free. Beginning tomorrow, February 1, your access will be limited unless you are a subscriber.
To give you a taste … In this morning’s Dealflow (which is akin to the Wire), the team covered:
• The latest move in the competitive contest between Bain Capital and Triton Partners for Finnish construction firm Caverion.
• The Riverside Company’s add-on acquisition of a data and analytics provider for the energy industry.
• People moves at AnaCap Financial Partners.
Other recent coverage includes:
• Editor Craig McGlashan’s interview with Juergen Pinker, senior managing director of Blackstone, about the firm’s investment strategy in energy transition, including backing Esdec, a provider of rooftop solar mounting systems.
• Reporter Nina Lindholm’s roundup of 5 deals that use technology to solve fleet management problems.
• Assistant reporter Irien Joseph’s story on Permira’s purchase of the majority stake in Acuity Knowledge from Equistone.
Don’t miss out. Later this week, the team will do a deep dive on Energy Capital Partners’ acquisition of Biffa.
To continue with unlimited access to our deal transaction coverage, Q&As with prominent sources in PE dealmaking, and more, we are offering Wire readers promotional pricing for a limited time here.
Finally, following up on deal talks we reported on yesterday, DWS today announced it has agreed the transfer of its Private Equity Solutions (PES) business to Brookfield Asset Management.
You can read analysis of the move by our colleagues at Secondaries Investor here.
Buyouts’ Chris Witkowsky will write the Wednesday Wire. Craig McGlashan’s on duty Thursday this week, and Obey Martin Manayiti will finish up the week on Friday with a fresh listicle.
I’ll see you back here on Monday.