Harmony and Discord? M&A and PE in 8 Notes
We are delighted to present our M&A and PE reports for the deals we worked on in 2023. Our reports provide insight into the trends that shaped 2023, including:
- Deal volumes in PE and M&A were lower in Q1/2 of 2023 but improved in Q3/4, with the lower/mid-market being more active than the large cap/upper market.
- Technology, healthcare and life sciences, and financial services sectors performed strongly in M&A deals, while consumer markets and industrials were impacted by the cost of living crisis.
- W&I insurance has become more widely accepted, with coverage for sectors historically perceived as more risky.
- Rolling gains remains the favoured choice in tax planning, but sellers are considering crystallizing gains due to potential government changes.
- ESG considerations are becoming increasingly important, with regulatory changes and LPs requiring minimum criteria for GPs.
- There have been regulatory reforms in the UK, including changes to merger control and increased scrutiny of foreign direct investment.