The SPS Research Team published the Q4 2023 Mezzanine Market Perspective in February 2024. The report focuses on market trends and transactions in the mezzanine space.
At a Glance
In Q3 2023, 82 deals including mezzanine debt closed, a 13% decrease from the 94 mezzanine deals closed in Q2 2023. Mezzanine activity through the first three quarters of the year increased approximately 9% YoY from 268 deals in 2022, to 293 deals in 2023. Despite the increase in mezzanine deal activity, private equity deal volume for the same time period decreased 18% from 4,487 deals in 2022, to 3,679 deals in 2023. Out of the 82 mezzanine deals that closed in Q3 2023, 33 deals were buyouts, 27 were minority financings, and 22 were sponsor-backed add-ons. The most common industries in total M&A activity for the quarter were Technology, Industrials, Business Services, and Healthcare, respectively.
For more, download the full report or see past editions on our Research page.
