Sponsors can’t get enough of the consolidation play
When the predecessor to Chicago-based GTCR began buying up small companies in the 1980s and combining them into larger ones, the strategy was seen as something of a novelty. The titans of that decade, including KKR & Co, went after big fish and swallowed them whole. Who needed to do add-on deals when you could generate sweet returns […]
Success a Relative Term
What defines the success of a firm’s deal sourcing efforts? For over a decade, we’ve been in the business of helping PE firms improve their business development strategies. One thing is absolute: there is no one measure for deal sourcing performance, because each firm’s strategy is influenced by a unique investment ethos, market conditions, and […]
Q1 2022 Mezzanine Market Perspective
The SPS Research Team published the Q1 2022 Mezzanine Market Perspective in May 2022. The report focuses on market trends and transactions in the mezzanine space. At a Glance Mezzanine activity for the LTM period ending December 31st increased approximately 58% YoY from 244 deals to 385 deals. Compared to the previous quarter (Q3 2021), deals including mezzanine debt increased from 87 to 128 in Q4 2021. The […]
Buoyed by fundraising success, PE buyers top corporate acquirers for first time
Corporate acquirers are number one no more. For the first time last year, deep-pocketed private equity firms grabbed a bigger share of the North American M&A market than did corporate acquirers. All told, private equity firms acquired 6,069 companies with at least $10 million in enterprise value last year, according to data from deal-sourcing platform […]