ACG Seminar: M&A in Private Equity
A Mid-Year Update with Predictions for the Remainder of 2013
At the end of 2012, there was a flurry of deal activity as private equity funds sought to put money to use and sellers looked to take advantage of lower capital gain rates. According to PitchBook, key statistics for all deals in the 1st quarter of 2013 showed the following median data (meaning 50% of the deals were done above or below the median point):
Median EBITDA multiple: 5.5xMedian Revenue multiple: 1.1xMedian debt percentage: 55%Average time of close: 15 weeks
Many early 2013 deals were "spill-over" deals that did not close on or before 12.31.12. Higher quality assets were getting sold; lesser quality assets remained available in 2013 and many factors have an impact on what does and doesn't sell and at what price.
To shed further light on M&A developments and trends, the July 18th ACG M&A Panel will provide some color on deal activity, providing views from four perspectives: (1) investment banking, (2) private equity, (3) legal and (4) valuation. The panel will share what they expect to see going forward into the remainder of 2013.
Paul Hastings partner Rob Carlson is a featured panelist.
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