australian m&a deal values major deals in q2 in quarter 2 fy2020 · in quarter 2 fy2020 major...
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While the second quarter of FY2020 has seen a decrease in the number of transactions completed in Australia, the average deal value has increased. Based on the published transaction data for Q2 FY2020, there were 290 deals completed compared to 356 in Q2 FY2019, a decrease of 19%.
The average deal size increased from $118 million in Q2 FY2019 to $133 million in Q2 FY2020 which can be attributed to an increase in the average transaction size of transactions over $100 million, from $468 million in Q2 FY2019 to $511 million in Q2 FY2020.
M&A by Sector As illustrated below, the top 3 sectors by quantity of deals in Q2 FY2020 were the Consumer Discretionary, Information Technology and Real Estate sectors, while the top sectors by deal value are in the Utilities and Consumer Staples sectors.
Australian M&A Deal Values in Quarter 2 FY2020
Major Deals in Q2
The highest implied enterprise value / EBITDA multiples achieved in Q2 FY2020 were:
The top deals by transaction value in Q2 FY2020 were:
Sector Target Acquirer Stake Acquired (%)
Transaction Value ($ millions)
Real Estate Aveo Group Brookfield Financial Properties L.P.
100 2,066.8
Materials Wodgina Hard Rock Lithium Mine Albemarle Corporation 60 1,894.8
Consumer Staples Bellamy's Australia Limited China Mengniu Dairy Company Limited
97 1,425.6
Materials Barrick (Australia Pacific) Limited Saracen Goldfields Pty Limited 100 1,100.0
Sector Target Acquirer Stake Acquired (%)
Implied EV / EBITDA Multiple
Consumer Staples Bellamy's Australia Limited China Mengniu Dairy Company Limited
97 39.9x
Consumer Discretionary Capital S.M.A.R.T Repairs Australia Pty Ltd
AMA Group Limited 90 20.8x
Industrials Wellcom Group Limited Innocean Worldwide Inc. 85 14.4x
Revenue($ millions) Sector Target Acquirer
Stake Acquired (%)
Transaction Value ($ millions)
39.6 Industrials CCL Group Holdings Pty Ltd
Ashley Services Group Limited
80 7.9
35.1 Consumer Discretionary Mocka Limited Adairs Limited 100 75.5
34.4 Industrials Uni-span Australia Pty Ltd Acrow Formwork and Construction Services Limited
100 20.4
18.7 Telecommunication Services
1300 Australia Pty Ltd Uniti Group Limited 100 80.0
16.4 Information Technology Security Division of PS&C Limited
TNT Cyber Services Pty Ltd
100 13.8
Deals occurring in the SME space in Q2 FY2020 include:
SME Deals
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Number of Transactions (Q2 FY2020) Number of Transactions (Q2 FY2019)
Average Transaction Size (Q2 FY2020) Average Transaction Size (Q2 FY2019)