2017: A Very Busy Year for M&A

 

Fernando Cabos, partner at IMAP Albia Capital

IMAP closed 191 M&A transactions in 2017 valued at more than $12 billion dollars, compared to $7 billion in 2016 (+71%). 36% of IMAP-brokered transactions were cross-border transactions.

Most IMAP transactions were mid-market (with values between $10 million and $200 million). The Industrial and Technological sectors continued to be the most active ones for IMAP in 2017, with 40 and 27 closed transactions, respectively, followed by Energy, Health Sciences and Real Estate, these being the sectors with the most significant transactions in terms of transaction amount.

M&A activity in 2017 clearly shows IMAP’s global reach: approximately 40% of transactions were carried out by Western European companies, 20% in the Americas. Other geographical areas with robust activity were the United Kingdom, Scandinavian countries, Eastern Europe and Asia, each of these accounting for approximately 10% of the transactions.

2017 was a busy year for the Spanish market as well. According to Thomson Reuters, there were 1,214 purchases and sales of companies in 2017, which is 6% more than in 2016, driven by a positive economic outlook, favourable financing conditions and high liquidity in the market, combined with low interest rates. All of these factors favour mergers and acquisitions, which are expected to continue in 2018 in all sectors,  particularly the industrial, leisure and consumer ones.

IMAP Albia Capital closed eight corporate transactions in 2017: 4 acquisitions, 3 divestitures and 1 fund-raising operation. Notable among these operations is our work with an Austro-Iranian group for the acquisition of the transformer manufacturer Alkargo and our work with Guzmán, a subsidiary of the South African group Bidcorp, for the acquisition of Saéz Horeca. In 2018 we expect to surpass 2017’s numbers, driven by cross-border operations.

 

In the words of IMAP’s President, Jurgis Oniunas, “IMAP continues to be firmly established among the top 10 organizations with the highest number of transactions per year, coming in second if we exclude the auditing firms. This clearly speaks to the caliber of our global teams and the scope of our experience. With 2018 now underway, we continue to work and improve in order to help our clients overcome their strategic challenges in an environment of change and uncertainty”.

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