IMAP closes 47 M&A transactions in Q3 2023

IMAP closed 158 M&A transactions around the world valued at over $7 billion during the Q1 – Q3 period. 47 deals were closed in Q3 alone which was down compared to the same period in 2022 but up slightly from the previous quarter. Expectations of a recession, while still present, have been getting pushed out in time as the year has progressed and IMAP´S consistent track record in recent quarters reflects an unyielding mid-market environment. Buyers have become more selective due to elevated financing costs and cautious lending practices, but there is strong demand for high-quality assets with profitable and unique growth-oriented business models. Deal activity is also being driven by strategic players and PE investros typically focused on larger deals that are now movien downstrean in search of less risky and less complicated transactions. IMAP dealmakers continue to report that valuations are under pressure, which leads to discrepant expectations among buyers and sllers, although there is sbustantial variability across sectors. Technlogy, Business Services, Industrials and Healthcare were the most active sectors for IMAP during the Q1-Q3 period, accounting for 50% of total deal volume.

Selected Transaction

IMAP is pleased to announce that BosDaalen Materieel B.V. (BosDaalen), a temperature-controlled transport and logistics service provider, has concluded a share transfer agreement to be acquired by LOGISTEED Ltd.(LOGISTEED).

BosDaalen is the result of the merger between CARGOBOSS and Van Daalen Transport in 2021 and is specialized in temperature-controlled transport of perishable goods such as fruits, vegetables, flowers and plants. The company focuses on groupage transport on daily routes from the Netherlands to Germany, Switzerland, and Northern France. Strategically situated facilities in the Netherlands and Germany contribute to its operational efficiency. The company’s headquarters, equipped with a 5,000 m2 cross-docking facility, are located in Maasdijk, next to the main fruit and vegetable production area of the Netherlands. Moreover, Maasdijk’s proximity to the Port of Rotterdam, Europe’s largest port, further enhances the company’s logistical advantages. With a team of over 300 dedicated professionals, BosDaalen owns a fleet of approximately 130 trucks and motor vehicles.

LOGISTEED, ultimately controlled by KKR & Co. Inc., is a Japan-based company that operates globally, providing freight forwarding services and general contract logistics services. Founded in 1950, LOGISTEED has established a presence in 28 countries with operations spanning across 808 sites. The company has a workforce of over 46,000 employees. LOGISTEED has set “reinforce and expand overseas business” as a priority measure and aims to further develop their business by adding temperature-controlled consolidated transportation within Europe to their services. The recent acquisition of BosDaalen further solidifies LOGISTEED’s position in the Netherlands, building upon their acquisition of Cyber Freight International B.V. in November 2022.

The shareholders of BosDaalen initiated the sale of their shares not only to ensure the long-term continuity of the company, but also in response to various market trends, including consolidation and digitalization, as well as to further increase network density. The temperature-controlled logistics market is expected to grow, driven by the global specialization in food production and year-round demand for non-local products which have increased travel distance for food, the complexity of the food value chains, and the demand for temperature-controlled logistics networks. The Netherlands, with the Port of Rotterdam specifically, is considered the transport gateway to Europe and plays an important role in the distribution of fresh fruits, vegetables, and flowers throughout the continent. The acquisition of BosDaalen propels LOGISTEED into the European temperature-controlled transportation sector, fostering continued expansion across their business domain. Importantly, the wealth of expertise and support from former shareholders Aris van Daalen and Gerard van der Bos, who will retain their roles within BosDaalen post-transaction, will be leveraged to ensure a seamless transition and sustained success.

IMAP Conference Stockholm

The IMAP Conference in Stockholm was held from October 5-8 and brought together more than 120 M&A professionals from around the world.

On Thursday the 5th we had the pleasure of listening to Kjell Enhager, professional golfer, and renowned business, culture and sports coach.

In a fantastic session in which Kjell approached us to the emotional universe with tools to control fears and tensions, we had the opportunity to connect between cultures, companies and people and share the most human side of mergers and acquisitions.

On Friday 6th, Jurgis V. Oniunas, President of IMAP gave an interesting opening speech in which he described the great challenges and perspectives of our Organization, recurrently positioned in the Top 10 of financial advisors, and then our hosts in Sweden, IMAP Sweden, delved into the Swedish market and the milestones achieved by the company in recent years.

Our colleague in the UK, Karri Vuori, also had the opportunity to share with the rest of the International Organization dedicated to mergers and acquisitions, the characteristics of their market, ongoing Mandates, and Focus Sector among other highlights.

We also had the pleasure of hearing from our colleagues at IMAP China and Falls River in the USA, as well as welcoming DEALHAUS, our exclusive partner in Denmark.

Kristian Orban, renowned Hungarian economist, founder and managing partner of Oriens, was invited by IMAP to make a geopolitical analysis in which he shared with the audience history and insights and which are in his opinion the two sectors that will dominate the M&A and M&A market in the near future: Transport & Logistics and Software.

At IMAP Albia Capital, Pablo Gómez, Transportation and Logistics, and Aitor Cayero and Francisco Hidalgo-Barquero, Software, lead the sectors of reference.

Finally, John Ferrara, founding partner of our US firm, Capstone Partners, explained how Capstone serves the American mergers and acquisitions market and the magnificent strategy of sector expertise by verticals that positions them as leading financial advisors in the United States.

Albiacoustic

This November 30th we will celebrate the sixth edition of our Albiacoustic, an event that unites music and finance and is a must for entrepreneurs and advisors dedicated to the financial world who like music.

We will have the Smile Group and a surprise guest of exception in addition to unveil a Solidarity Organization as we have been doing for 2 years. For us it is important to collaborate with solidarity causes giving visibility to those parts of society that need it.

Team

This month we welcome Patrick Rose as M&A Manager in our Bilbao office and Emilian Resvanta as Analyst.

 

 

 

 

 

 

 

Oct 24, 2023

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