mid-market m&a review · 2018. 1. 15. · * source: thomson reuters ** fee exposure indicates...

MID-MARKET M&A REVIEW FINANCIAL ADVISORS Full Year 2017

REUTERS / Coldagh Kilcoyne

krizvi

Clairfield

* Source: Thomson Reuters

** Fee exposure indicates each firm's mid-market fees from deals valued at up to US$500m as a percentage of its overall M&A fees in the relevant region.† Imputed Fees shown are based on completed deal activity, whereas deal count & rank values are compiled based on announced deal activity.

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8

15.1

121.1

-25.3 ▼

7,780.8 21 8.4 ▲

55.3 41

5137.7

42

13

99

13.8

477.5 -

40

-

-54.2 ▼

91.5

123.8

150.4

282.9

34

40 -40.8

-44.8

2

19PricewaterhouseCoopers 2

339

11*

36

22

15

Industrial & Comm Bank China

-1.1

2

# of

64.3

-14.6164 ▼

▲

3,858.9

-

▼

-2.4

Rank

199

11*

5

118.0

3

221.31

2 -74

-20.719,813.8

6

-14 ▼

350

36*

56

38*

53*

48*

1,667

Macquarie Group

BMO Capital Markets

RSM Corporate Fin LLP

Benchmark International

▲

▼

44

45

46.2

4

▼

46

Raymond James Financial Inc 30*

▼8,592.6-15

Barclays

▼

▼

19

7

37

40 79

107

10

Baker Tilly International

-3.9

-4

Alantra Partners SA 24

19

UBS

107

-10.0

-60.0

158 ▼5

18.2

7 12*

MM1 - Undisclosed Values & Values up to US$500m

# of Deals per Advisor

Rank

273 -24

1

Financial Advisor

KPMG

Deals

6

-16.7

481 -41.5

Rank

16 ▼

Rothschild & Co 3 3

Deloitte

36* -

24

▼

1 12,395.3▲

2097

95

-10

113

▼

▼

-24

22

103

28*

19

25*

1,907.7 -

185

-7

110

18

▲

73

-8

80

71 -23 ▼

- 27.4

101

10 189

13

▼

Jan 1 - Dec 31

Exp (%)

** FeeChange in 2016

Rank Value per Advisor (US$m)

Rank Value Rank Value2016

▲

▼9,100.3

48

2017

US$m

8,506.8

215

-42

▼

▼

1,555.3 -238 73

66.1

5

-13 ▼

243

26.7

44.2

Imputed Fees (US$m) †

27

Fees Rank

16.9

24.6

100.0

25.0169.9

45.3

17,258.0

Houlihan Lokey 10

134

▲

▼

14

100.0

79.4

20.8

89.5

1

16

92.8

# of Deals

1

9 6

BDO

30.2

12,699.6 8

14

▲9

8 12*

▲

3

-22.7

5 5

Ernst & Young LLP 4 4

2

5,578.7

▼

JP Morgan

Sumitomo Mitsui Finl Grp Inc

43

8

▲

8

21

4

6

213

22,268.5

130

-1.7

▼

8,983.6

Change (%)

Advisor 2017

-1 ▼ 2,532.6 -

Jefferies LLC 22

▲

▲

183.6

19

332.1

Full Year 2017 │ Mid-Market M&A Up To US$500m │ Financial Advisors

Worldwide Mid-Market Rankings (MM1)

100.0

17,399.7

5,864.3 --0

41

45

26

Bank of America Merrill Lynch 38

▲

30*

11,104.2

10,028.5

20 ▲

▲

17

▲

-69.2

16

109.8

115.8

-47.1

-32.2

35▼

20

-25

▲

12

10,782.3

1,103.5

78.4

100.0

48.4

72.3

103.9

127.1

53.7

20

106

*tie

119.6

149.3

105.4

-31.5-22

12 ▲

18

Morgan Stanley 15

23 ▲15.7

263.9 -

▲

Oaklins (FKA M&A Intl Inc)

23.2

158.6

▲Robert W Baird & Co Inc

34*

▼

72.2 21.5

2,306.1

11.0

72

29

▼

-293.0 43

22

▼

▲

▲

▼

100.0

116

Goldman Sachs & Co

-0.2

9.7

▼

13

15

38

32

▼

108

34*

1,073.876 ▼-

23.9

▲

-22.64,887.4

Source: Thomson Reuters

286.9

963,913.1

43

61.2

2

11,263.6

32

KBS Corporate Sales Ltd

CFI

Grant Thornton

▼

42

▼

72

4,865.6 - 6.9

33 50.9

▲

31

95

27.2

94.3

31.7

100.0

57.4

100.0

49.4

▼

6

Global M&A

Worldwide Estimated Mid-Market Investment Banking Fees by Quarter*

- -0.5 ▼

17.2 - -2.8▼

-

133.9

109.7

36.1

-14

13,560.9

▼-

▼

53.1▲

31.7

1,011.3

▼

▼

28*

103

101

248.4

30*

33* 44

30*

70

-8

136

44

https://www.thomsonone.com

93.2

49.2 45 36.5

67.8

6

11

91.4

55.9 40

100.0

106.2

46 100.0

23 90.7

51.4

17

12

59.2

26

60.5

100.0

-30.57,026.3

163.7

▼

56 ▼

6,663.7 25

-8 23

2.8

-32 ▼

56 -4

57

-21 ▼

58

135.9

102.6

70.4

81.1

-

97

91

▲

▲

-34

7,873.4

▲

23

1,332.2

▼

-34.7

-20.5

▲

-19.6

-

Lincoln International

▼

Credit Suisse 17 21 151 25

141

5

▼

-

9

14

25

24

25* ▼25

27

Nomura

10

28 -1

▼

BNP Paribas SA

1.0

41

6,309.1 27

▼-15.2

▲Lazard

2,412.6

16 15

7

▲ 6,358.3

190.24

263.7

-40

▼

▼

14,569.6

▲ 7,683.3

206 9

22 -3.4

32

8

18

21 27 129

▲

IMAP

20

Mizuho Financial Group

▲ 17,699.4

1114

▼

148.0▼ 8,595.3

19.9

114.6

175

13.5

Citi

▲

65.9

29

20

Stifel/KBW

11,357.4

3

131.8-

24

▼17

▲

233.7-10

Daiwa Securities Group Inc 50 47

21.0

55.5

189

53

32

41

CITIC

▲

-

-

Moelis & Co

RBC Capital Markets

Deutsche Bank

Clearwater International 39

88

43

-12

▼-0.8

-85.2

-55.6

-

35*

33*

42

Piper Jaffray Cos

47

48*

48*

Duff & Phelps

46

33

▲

6,772.6

72.2

96.2

97.7

30

Evercore Partners

Clairfield International

18

11

7

▼ 18,547.7 -31.6

Globalscope

Industry Total 48,864

64.7

60.8

56.7

74.0

98.2

16.2

67.3

44.8

30.7

100.0

84.6

86.4

Generational Equity

9

35*

Jan 1 - Dec 31Worldwide Mid-Market M&A up to US$500m by Target Nation Region

38*

55 -14 ▼ 4,589.1 - 42.5 ▲ 35.7 54 95.2

$0 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000

2010

2011

2012

2013

2014

2015

2016

2017

Rank Value (US$b)

Africa/Middle East Americas Asia-Pacific Europe Japan

0%

10%

20%

30%

40%

50%

60%

70%

80%

$0

$1

$2

$3

$4

$5

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

2010 2011 2012 2013 2014 2015 2016 2017

Perc

enta

ge o

f Tota

l F

ees

Inve

stm

en

t B

an

kin

g F

ee

s (

US

$b

)

Mid-Market I.B. Fees ($500mil or less) % of Total Fees

2

krizvi

Highlight

krizvi

Clairfield


European Involvement Mid-Market Rankings (MM3)



-2

▼

17,212

1,326.935

36

32*

166.9

41.0

34.0

25

▲

-

1,552.1

1

2,437.3 2,163.0 22 19398.4 ▲

2,503.9 2,212.2 21 -27.7 ▼

875.5 823.8 -

19.9 53 43.4

31.7 36 100.0

-40.6 ▼

4,870.7

24.118

205.1

3

182.1

107.1

▼

8

-28.2

32*

30*

38

17

▲


# of Change in

60.3

22.2 46 100.0

-5 16

▼

7,134.426*

14

26.8

70.1

9

34

45* 49* 28 -3 ▼

45* -36 ▼

Financial Advisor

14.0

4

-24

6,413.6

11,076.9

Jefferies LLC

-

-

100.0

56

51

31

-

37.0Global M&A

100.0

51.9

CFI

95.4

▼

12

Credit Suisse

49

22*

25

27* 922.8

▼

JP Morgan 3

2,009.6

Macquarie Group

DC Advisory 22* 28

1164

1,295.5

7

-

14,037.1

231.9

▲

▼


49.4

8

6

150.0

Rank Value

11

-11.4

▼

▼

-2.4

42 17.2

26.1

-

KPMG

-70 ▼

8

32.8

6,373.1

3,005.5

353.3

18

39

▼

1,080.9

▲

19.6

91.4

-7

Mediobanca 45* 51* 28 -2 ▼

Raymond James Financial Inc 45* 105* 28 16 ▲

▲

17

13

# of Deals

1

20

▲

Houlihan Lokey

286

33.9

2017

24.1

Lazard


-

▲

IMAP

▼

-

▼

43.8

UBS

2,233.6 1,922.2 23 -19.2 ▼

54

46.3

10

3,574.9

29

26

24

46.1

1,805.3

147.6

▼

19

21*

2

21*

59

12

100.0

87.1

29

32

801.3

146

▼

97

20

7

137.8

14.6

43

▼

Citi

▼

Rank


18

4

3

153

71

849.2

14

66.633

98.0

895.1

▲

55

▼

-

3,853.6

109.7

55.5

17 11

▼

-

Alantra Partners SA

9 0

82.7


12

3,722.3

91.5

20

2,540.7

100.0

-26.7

100.0

2,228.4

100.0

BDO

10.6

70.3-1.1

7

15,912.9

11.0

11.6

0.0

114,381.622*

25.723

95

10

Rank

203

286.3 262.7

72

Jan 1 - Dec 31

91 100.0

7,702.1▼

39

▼

3,492.2

9

Rank Value per Advisor

Rank Value

2

-

Grant Thornton

Clearwater International

▲

-57.5

-42.3 ▼

Euro mil

5,969.5

29.1

▼

16 79

-10

Ernst & Young LLP

4

▼

2016


1,008.6

-

4

-

-2.5

Rank

761.6

9,920.7

329 -41.1

15 10BNP Paribas SA

US$m

3,858.8

10

26

5

-24


15


Fees

19

5

12

44

▲Rothschild & Co

138.2

87.3

184 12

36.0


▼

37

▼

36.0

Goldman Sachs & Co

60

-6

42.6

16

▼

-24 ▼ 4,035.6

27.0-60*

▼

-15

41

34

▼

86

5,464.8

19Morgan Stanley

-39.2

5.1

30

-20

▼-6

-3

9

-37.7

5

44.5

43

20

18

▲

▼

59

▲

▲

1,184.9

-24.2

41

13

▼ -58.2

▼

52.2

38.6

27*

5

2,028.5 24

-78.8


16

885.1

▼

-34

-3.4

▲

6,812.8

1,399.4

60.0

▼-

13

17 ▲

-23

-3

258,958.9

▼

100.0

42

*tie

▼

49.5

-1,451

▼ 21

36

▲

35▼

4142

4,758.5

-

37*

▼


100.0

100.0

-

-2.8

1,067.331

0.5

2,016.2 1,848.5

229,245.5▼ ▼

36.0

37*

71.2 9

54.3

-

-2

70.0

▼ 48.3

21

6,862.1 5,991.5

▲1,775.0

Advisor

1,211.2

37*

-18.3

-51

5

991.5

-25

71.3

-

▼

▲

5,058.9

-10.8

▼

88.0

41.3

34

48.4

39

4,427.1

19.4

4,268.3

▼

18

▼

100.0

3,722.3

21.8

30

▼

-69.1

▲

30.4

Capitalmind

Societe Generale

BCMS Corporate Ltd

66*

22*

32*

6,543.6

37

32*

30*

34*

40*

34*

100.0

61.9

12

100.0

19.4

▲

7,236.0

▼

105

▼

▲

108.6

111.9

2,423.2

-11 ▼

▼3,384.4

Change (%)

91.1

54.0-10.5

29

986.7

▼

-3

-

7

6

13

2

-40.5

▲

34.5

47

▲

13

55

Natixis

1

-79.1

▲

-

22

58.2

70.8

15

17

PricewaterhouseCoopers

100.0

2

14

112

27

236.4

European Mid-Market M&A up to US$500m by Rank Value Range

41.2

Deals

▼

847.3

14.9

-34.2

52.6

86*

5,241.5

-87.3

762.9

▼

62.0

20172017

2

-

-16.7

100.0

91.5

15

1

1,125.8

92.3

-82.7

49.6

32.2


49.2

48.9

40

45.2

Jan 1 - Dec 31

6

100.0

90*

European Mid-Market M&A up to US$500m by Target Industry

20.5

23

▲

212

8

-

▼

-0.7

26*

** Fee

135.7

-11

-45.8

415.8

0

-26

38

▼

37*

40* 28

-3

-19 28

49

14

43

-99.5

688.1

-23.7

-15.0

Globalscope 52

57

4,193.6

20

103.2

1,155.9

15.1 13.5

-

Deloitte 6 -4181

1

83

25

23.8

-82.9

-2.3

43* -

45*

Cooperatieve Rabobank UA

Credit Agricole CIB

-7

36

▼

93.0

-15

98.858*

44.0

31

33Evercore Partners

Barclays

Cambon Partners

Bank of America Merrill Lynch

Kon SpA 42

-61.3

0.6

▼

24

▼

27

4

4,170.7 ▼

19.5

16.2

56.8

31

63.6

100.0

26.4

▼

Industry Total

Deutsche Bank

ING

43*

2,713.8

Rank Exp. (%)

▼

5

3

UniCredit

39

42

-

1,000

2,000

3,000

4,000

5,000

6,000

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

# o

f D

ea

ls

Ra

nk V

alu

e (

US

$b

)

US$200 - 500m US$100 - 200m US$50 - 100m US$0 - 50m # of Deals

18.4%

13.1%

12.9%

10.0%

8.8%

7.2%

6.9%

6.6%

5.6%

5.1%

3.5% Real Estate

Financials

Industrials

High Technology

Energy and Power

Consumer Products and Services

Media and Entertainment

Materials

Healthcare

Consumer Staples

Retail

Telecommunications

6

krizvi

Highlight

krizvi

Clairfield


UK Involvement Mid-Market Rankings (MM4)

** Fee exposure indicates each firm's mid-market fees from deals valued at up to US$500m as a percentage of its overall M&A fees in the relevant region.


4.8 - -96.3 ▼

Peel Hunt LLP 43* 46* 13 0 -

11.3

22 -10.9

37* 54* 14 4 ▲

BNP Paribas SA 43* 40* 13 -3 ▼

Global M&A 43* 39 13 -4 ▼

40.5 ▲

6.1

31 100.0

21.5 17* 46.6

6.4 58* 100.0

3.2 84 100.0

1.7 128* 100.0

5.4 68 100.0

8.7 39* 100.0

WH Ireland Ltd 46* 40* 11 -5 ▼

Standard Chartered PLC 46* 88* 11 6 ▲

CFI 46* 40* 11 -5 ▼

125.5 ▲

1,314.8 1,014.7 15 212.2 ▲

245.6 185.2 - 46.2 ▲

1,017.2 783.2 - 77.2 ▲

115.9 89.0 - 83.1 ▲

1,142.4 867.5 20

Sentio Partners LLP

38 100.0

10.6 33 24.1

1,349.5 1,047.0 14 -33.5 ▼

1,078.9 843.0 24 75.8 ▲

1,112.4 812.2

13.9 26

46* 14

30*

34*

34*

36

37*

37*

14 2 ▲

Deutsche Bank 37* 37* 14 -5 ▼

25* 16

▼

24

22

2,936.8

-3.52

8

2

531.4

▼

837.2▲ 417.9 ▲

Canaccord Genuity 37* 51*

Macquarie Group 37* 34* 14 -6 ▼

▼

1,517.5

▼

-2

224.1

Houlihan Lokey

- -37.8

724.5 555.0 34

65.3

20*

15

27

-7

37*

58.6

18*

8

32

▼3

8.9

132.8 101.0 -

24

2

21.3

3

▲

11

96,141.7

▲

-72.8

1,107.4

21 -42.3 ▼

57.9 44.3

16* 17 -14

14

▲

-521*

66

19

20

1

1,808.8

38

465.1▲

100.0

16

18*

15

34.6

546.1

▲

1

38.7

314.8

15.5

500.5

5*

40 ▼

6,909.8

2,260.7

Mazars SA

2,021.422*


Duff & Phelps

Jefferies LLC

Numis

1

Lazard

18*

4

11

▲

7

237

▼

266.6

4

30*

1,249.5

UBS

-3 ▼

Cenkos Securities PLC

Evercore Partners

Liberum Capital

▼

▼

▲

30*

27*

-2

17 -4

21 369.9

-31.8

-55.5

27*

18

816 -3

-1.7

13

▼

-85.7

751.4

7

576.6

▼

32

17.2

13

▲58.7

26*

▲

19

40*

15

2,305.3Industry Total

Exp. (%)


101*


IMAP

80.1

-

7.1

28

Rank

36*

36*

899.7

27.3

PricewaterhouseCoopers 5*

13*Deloitte

Alantra Partners SA


12

9

Rank

1011

▼

Rank

9

13*

14

100.017*

1,285.3

11.7

715.8

42 56.8

-

▲ -35.4

286.3

58

95.4

61.1

100.0

-34.25

26.9

2.6

49.7

▲

108*

12

2,443.0

-2

19

-

1,151.5

37.3

24.4

▼

38

-65.6

104.2

2

▼

2

29

30*

22

1,607.0

*tie


▲

8 9.8

13.8

94.0

727.3

-

49.5

53*

16

-61.0

100.0

-13

▼

23

646.0

- 815.6

▼

21.9

-21

2

24

▼

581.2

-

887.6

6

Change in

# of Deals

Advisor2017

629.5

12.9

60

US$m

245.8

▲

7

9

24.4

707.0

11

-

28

▲

1,659.4

74,382.8

25

100.0

GBP mil

21*

9.8

61*

4 ▼

-94.9

7

695.3

5

20

-8.0

454.1

100.0

▼

-2.8

10

-

-25.7

▲

-57.6

-2

85*

** Fee

▼

▼

391.1

29

▼

38

▼ ▼

2,110.5

12

7

17.2

▼

8

-28 7.8

13*

18

577.9



▲

10

-

▼ ▼

2017

▼

-34

Fees

10

7

1,245.8 20.1▼


100.0

-3

44.5

8.3

22

Piper Jaffray Cos

Credit Suisse

17

2.984.8

125.4

13*

51

46.2

85.6

11

8

30*

44.2

100.0

15.1

▼

▲

196.0 152.3 - 167.4

5

2016

5,329.3

-30.2

61.7

100.0

100.0

-6

-11

32.1

11

100.0

3.0

▼

-

65.2

11

34*

91.4

26.3

▲

10.0 34*

▲

▼

41

▼

24* 45

20

100.0

30*

23.5

-

100.0

100.0

-2

292.3

867.3

5.7 66

10.8

61.7

100.0

11.0

▼

Change (%)

UK Mid-Market M&A up to US$500m by Rank Value RangeJan 1 - Dec 31

93.6

15.0

44*

100.0

UK Mid-Market M&A up to US$500m by Target Industry Jan 1 - Dec 31

52.3

100.0

226.6

26*

19

2,584.4

37.2

▼165

Rank Value Rank Value

454

Rank

60

97

2,790.3 2,161.2

▲

▼

124 -79.9

7.2

14.9

33

▲

Deals

2017

3

-4.6

26*

▲

JP Morgan


Goldman Sachs & Co

BDO

Ernst & Young LLP

31.1

▲

16*

1.0

# of

3▼

▲

602.8

85

BCMS Corporate Ltd

-9

▲

KPMG

-13.3

11

-0.7

934.4

▼-2

Rothschild & Co

-

-42.0

1,616.0

44

94*

15

† Imputed Fees shown are based on completed deal activity, whereas deal count & rank values are compiled based on announced deal activity.

27

▼

▼

-3

▼

51.1

24


69*

Financial Advisor

69.8

1,121.5

2.1

17 ▼

1,476.3

▼

21

▲


2

20* 46*Morgan Stanley

24.6

17

34*

-12

47.1

finnCap Ltd

Barclays

▼

1 6

-42.2 ▼

50

▼

45

30*

100.0

9

15.835.9

-

Citi

343.5

27.4


-48.6

24*

-5

6.9

1027.9

▼

-37.0

6

109.7

2,623.1

6

39.313.0

-

Grant Thornton

6.1

21.5

Investec

-


170.9

16 25.8

7.3 49

3,347.6

27

304.5

22*

19



1,944.2

▲

17.6 21

553.3

100.0▼

21.8

4,580

-

200

400

600

800

1,000

1,200

1,400

$0

$5

$10

$15

$20

$25

$30

$35

$40

# o

f D

eals

Rank V

alu

e (

US

$b)


21.3%

14.0%

11.1%

9.6%

8.4%

7.9%

7.8%

5.7%

5.7%

4.5% 3.7% Real Estate

Financials

High Technology


Industrials


Energy and Power

Healthcare

Materials

Retail

Consumer Staples

Telecommunications

7

krizvi

Highlight

krizvi

Clairfield


French Involvement Mid-Market Rankings (MM5)



Linkers 43* 29* 6 -6 ▼

Macquarie Group 43* 190* 6 5 ▲

0.0 0.0 - - -

723.3 639.1 12 - -

6.0 35* 100.0

6.4 33 67.4

190*

14

4

-34.7

100.0

100.0

100.0

30.5

19

0.0

278.7

▲

93.7 - -

-

100.0

100.0

-

8.3

100.0

5.0

100.0

100.0

100.0

18.6

20.7

63.6

100.0

76.2

22

- - -

14

▼

215.0

0.0

0.0

239.5▲

254.3

▲

100.0

-

- 7.5 29* 100.0

100.0

12

18

▲

19

16

-85.5 ▼

63

0.5

100.0

17.5

▼

0

3

2,016.2

186.0

2,909

- -

80

5

- 3.9 58* 100.0

7 3

Alantra Partners SA

100.0

Ernst & Young LLP

-6

- -

100.0

116.7

▼

10.8

-643

▲ 32.1

100.0

100.031.2 28.9

14

23

2.7 2.5

163.8

11.7

-

5.6

-

▲16

479.8

44*

9

1,407.3

Rank

11.2

100.0

-

17

4

15.5

1

4*

19*

212

1,552.1

Change in


Rank

108

KPMG

21

8

255.8

▼

▲

165.4

61* 10

- -

43*

Financial Advisor


▲ 104.4

18.4

34.0

21.1

3,905.7

19.4

17

-10

Deals

7

62

- - - 8.5 25

21

-18 ▼ 421.1

▼

-

13

▼

4.6

292.8

81*

109.5 16

15

11▼

15.8

1,326.9

68.0

-6

14

1 41.2

52.82,866.03,217.7

43

523.8

33*

8

-2

▲

16.2

-2

-

▲

▼

9

61*

16*

-2 ▼

17

-

0.0

577.1

14

4

24

24

-

8.6

580.8 505.5

7

Lazard

20

-99.5

▲

20.2

17.0

22*

3.7

44.7

20

98.8

335.1

72.7

54

▲

19*

70.4

8

20

14

2,214.6 ▲

15.6

-

2 ▲ 11.7 10.0 - -

100.0

Drake Star Partners 30* 190* 9

39* 40*

Mediobanca 43* 127*

Oddo & Cie SCA 43*

10

- -

228.1 192.8 48 - -

11

-71.5 ▼

6 4

▲

28.1

-

-

-

▲

7 -1 ▼

- -

7*

Banque Degroof Petercam SA 22*

25*

27*

0 - 596.1 526.6 14 - -

AP Management 43* 33*

Edmond de Rothschild Hldg SA

16*

26 -89.8

3

Cambon Partners


-

22.9

-

23

-

▼

2

▲

5,305.7 4,748.4

17*

Translink Corporate Finance

Capitalmind

3

-

▲

7

-4

2.5 79

3.0 67*

2.9 74

- - - 8.3 26

32

32

31

-74.7

43* 7

19*

10*

38

31.012

23*

-2

11 29.2

188.4

▼

1223*

18.1

-2.45

▼

27

77*

2.3

207.0

77* 29*7 3 ▲ 48.2 43.3 -

77*

73.3 64.5 -

IMAP

Exp. (%)Change (%)US$m# of Deals

Jan 1 - Dec 31

50.5

Rank

Rank Value2016

4*

20172017 Rank Value2017

1 24,398.4

Fees

20.1

1


French Mid-Market M&A up to US$500m by Target Industry Jan 1 - Dec 31

100.0


54.3

Advisor ** Fee

9.3

99.4

3

138*

65.1

46.1

French Mid-Market M&A up to US$500m by Rank Value Range

7*

▼

▲

UBS

▲

15

▲

382.5 5.4

23 ▲

▲

15*

21

141.3

446.5

-

93.8

4

▼

10

-18

34

8

▼

6

0.0 19

9

11

23

1,799.0

▲

12*

27 54.8

511.0 18 - - 7.2 31

25*

- 10.0

27*

156*

11

▲38,852.5

▲ 1,174.7

0.0

▲

6 2 ▲

18.1 17.0

1,609.3▲

CFI 30*

▼

77*

Goldman Sachs & Co 36*

39*

65.0

111.9

▼ 0.0


Societe Generale

Deloitte

Invest Corporate Finance SAS

Global M&A

Bryan Garnier & Co

BDO

MBA Capital SARL 30* 16* 9 -10 ▼ 0.0

66.0 59.1

▼

1,035.1

34,377.9▼

10.0

720.4

94*

JP Morgan 30* 22

Aurignac Finance 30*

Eurohold SL 39*

Clipperton Finance SARL

33* 9 0 - 12.0

990.0 9 - - 6.3 34

13

-

8.2

8 - - 8.0

366.9

- -

50

▼

8 5 ▲ 0.0 0.0

15

40*

9

▼24

1127* -8

58

3

49.2

17.8



512.0

2,473.4


7

19*

-3


DC Advisory

Citi

Pax Corporate Finance

Nomura

9

RBC Capital Markets 39*

Euro mil

Natixis

BNP Paribas SA

-4

-2

6

2

17*

27*

12*

328.2

-

15.7

- 7.5

- - -

5.4 40*

6 -3 ▼ 74.9 67.1 - - - 5.0 44*

8 -8 ▼ 577.5

36*

59.3

▲386.0

0.6

17.1

2

# of

20

-

Rank

15*

10*

1,848.5

2.2 83* 13.4

23*

2

Credit Agricole CIB

18

27*


3.9

▼

100.0

59.3

33.4

70.6

28.2

100.0

100.0

100.0

100.0

- -

-

32.4

1.3

8.6

Canaccord Genuity 30* 48* 9 3 ▲ 824.2

ING

Messier & Associes 36* 48* 8

▼

5

Rothschild & Co

-196

▲476

-87.6

▲

-39.6

18 13

6

-4

9 -8 ▼ 1,114.7

Industry Total

*tie

0.7

100.0

Grant Thornton 43* 29* 6 -6 ▼ 0.0 0.0 - - - 0.6 245* 100.0

Adviso Partners SAS 43* 94* 6 3 ▲ 5.6 5.2 - - - 4.9 47* 100.0

-

100

200

300

400

500

600

700

800

900

1,000

$0

$2

$4

$6

$8

$10

$12

$14

# o

f D

eals

Rank V

alu

e (

US

$b)


16.7%

16.4%

15.7%

9.3%

8.8%

8.7%

5.9%

5.6%

4.5%

3.0% 2.8%

2.7% Industrials

High Technology

Real Estate

Energy and Power


Financials


Healthcare

Consumer Staples

Telecommunications

Materials

Retail

8

krizvi

Highlight

krizvi

Clairfield


German Involvement Mid-Market Rankings (MM6)



100.0

▼

18

19.23

100.0

114.0

10.5

200.0

-

100.0

100.0

88*

2

1

Exp. (%)

100.0

41.5

73.1

73.8

16.0

13

128.3

--

-

100.0

-

2,501.9

▲

▲

0.0

104.9

-9

▲

20.5

2017 2017

100.0

15.9

100.0



-13

13.7308.8

4

18

3,806.4

-

▲

15*

210.1

▼-15.6

63.7

41.3

62.0

10.1

8 4 ▲ 0.0 0.0 - - -

10* 4*

51*

5.9

▲

0.0

71

-76.7

10

14

2*

15*

784.7

13 12*

-1

30*

18

8.5

690.6

▲

44.0

13.2

▲

-

0.0

▼

-132 ▼

0.0

8.0

10.0

-94.8

2,968.4

10 0 -


3.2▼

227.6

7

▲

▼

▲

▲

60.0

Alantra Partners SA

▼

25

Rank Value

24.1

▼

3.8

-

-

- 155.7

Lazard ▲

BNP Paribas SA 30* 25* 8 -1 ▼

23 -

JP Morgan

6

10 ▲

1014

0.0

35

-8 0.0

-6

79.8 72.9

21

2

Standard Chartered PLC

Houlihan Lokey

goetzpartners Corp Finance

30,858.0

15*

21.0

10.0

8 8 ▲

9

▲

100.0

7.0 29*

▼

51*

31.2

▲

- - 7.0 100.0

Commerzbank AG 30*

Rank

1

Rank


53.4895.6 6 13.4 ▲

29 25* 9 0 -

100.0

ACXIT Capital Partners

▼ 3.4 58 100.0

-

939.8 781.7 9 - -

1,031.1

One Square Advisors GmbH

70.72,337Industry Total

13.9 8 88.0

4.4 42

Capitalmind 30* 51* 8 4

-0.3

100.0

29*

45*

▲ 0.0 0.0

19 8 -4 ▼ 385.5 334.5 34 -33.5

0.0 0.0 -

Deutsche Bank 2,588.9

▼

7

65

Fees

-12

▼43

2

53*

-23.1

54.443

885.0

4.0

100.0

4.5

UniCredit

Rank Deals

7

47

28

12

20*

BDO

19

-

100.0

▼

▲

2

3

100.0

-

-

Rank

259.0 9.7

Jan 1 - Dec 31

25* 100.0

10

236.0

-

▼

17*

11

4

20* 516

1

2017

▼

3,353.9 -15.4

8.3

▼ 1,177.1 1,070.2

79

5

18.2

0.0

-

-

34

876.6

▲

▲

-

Jan 1 - Dec 31

372.0 29 -63.0 ▼

▲

100.0

▼

▼

868.0 8 79.2 ▲

0.0

-

German Mid-Market M&A up to US$500m by Target Industry

-5

0.0

51*

13

11

13.8

71.7 62 -22.7 ▼

39*

9

20*

15

** Fee

48.6

Rank Value

4

US$m

20*

-3

0.0 -

67*

45.5

▲

0.0

100.0

-15

100.0

▼

▲10

-

1.7

53.0

10.4

129.1

-

-

55*

8

100.0

21*

763.4▲

6

7 ▲

100.0

100.0

100.0

100.0

209.58

17

24

22*

30*

▼

2*

6

17*


UBS


21

33.6

22*

22*

19*

19*

22*

22*

Roedl & Partner

8Concentro Management AG

Deloitte

4 0.0

3

27

10

15

1,613.1

Rothschild & Co

▼

37

1

Euro mil

0.0

4

40.8 36.2

10*

Change in

222.7

Macquarie Group

10*

39*

2

-10

4 74.0

2,803.7

1

Advisor


Change (%)

100.0

-5

5

43

11

-15*

13.0


2016

10

841.1

25*

7

35*

13

10

# of

4.2

34,956.7

6

114.9

1,757.8

40*

40.3

-1

976.6

-

-90.7

- - -

14

13

▼ 0.0 0.0 - - - 5.0 38

*tie

Livingstone Partners

30* 51*

CFI

Raymond James Financial Inc

Quarton International


38* 39* 6

German Mid-Market M&A up to US$500m by Rank Value Range

-0.0

# of Deals

12.4 12

0 - 72.4 61.5 65 -83.2 ▼ - -

100.0

Jones Lang LaSalle Inc 38* 72* 6 4 ▲ 33.4 30.0 - - - 5.2 37 57.8

30*

1 ▲

84.8

8.7

1.5

9

93*

59*

23*

4*

2.5

▲

3.6

6912.8

15*-

6.0

10

-

3843.2

25* 8


30* -

0.0 0.0 94*

412.4

Falkensteg GmbH

IMAP

Barclays 37 39* 7

-46.7

18

KPMG

Ernst & Young LLP

Financial Advisor

8.0

84.2

12

Centuros GmbH 30* 30* 8 0 -

-1


Globalscope

-

55.9 3

-94.0

-

-

20

- -

▼

73

46

▲

15*

22.8

12765.2

11

-


Goldman Sachs & Co 22*

22* ▲

▼

-

CBRE Holding SAS 38* 46* 6 1 ▲ 364.9 316.7 36 -60.3 ▼ 4.5 40* 100.0

Global M&A 38* 12* 6 -10 ▼ 0.0 0.0 94* - - 5.5 36 100.0

IEG-Investment Banking 38* 17* 6 -7 100.0

-

40 -57.9 ▼ 2.3 74 100.0

Ludwig & Co GmbH 38* 72* 6 4 ▲ 751.4 688.2 15 - - 8.5 21* 100.0

GCA Corp 38* 35* 6 -1 ▼ 405.9 381.8 - - - 4.1 44 100.0

HSBC Holdings PLC 38* 64* 6 3 ▲ 295.0 250.0

-

100

200

300

400

500

600

700

800

$0

$2

$4

$6

$8

$10

$12

# o

f D

ea

ls

Ra

nk V

alu

e (

US

$b

)


30.3%

14.4%

13.0%

9.1%

9.1%

5.2%

5.2%

4.2%

3.3% 2.5% 2.4% Real Estate

Industrials

High Technology


Financials


Materials

Healthcare

Energy and Power

Consumer Staples

Telecommunications

Retail

9

krizvi

Highlight

krizvi

Clairfield


Italian Involvement Mid-Market Rankings (MM7)

*tie



Equita SIM SpA 32* 20* 4 -4 ▼ 76.9 71.4 38 -89.5 ▼ 3.0 35* 37.0

71.7

-

12.4 10.5

36.8

-82.2

28 26.8

26*

22.5

86*

100.0

100.0

29

100.0

26.8

100.0

100.0

20,712.61,389

▼

▼

58.9

100.0

51.7

-38.4

108.4

▼

Advisor


▼1

124.8

52.9

11

US$m

# of

7

720.0

2

5

▲ 46.0

16

▲

Rank

186.9

8*

2850.8

640.9 552.0

2,515.1

21.8

0 - 38.0

5

▲

3.5


27*

53.1

-14.6

Societe Generale 32* 51*

-

-63.4

-52.9 ▼

3.6▼

26

18*

661.3 -19.4

-

8*

906.0

3

-1

11*

100.0

▲6

8*

49

134

18*

23,488.3

6 2

4 2 ▲

31

▲

21*

▲

-

-66.7

-

9.2

8.74

0.0

11

4 ▼-51.6

13 ▼

▲

-

16.0

5*

35

▼

-

16.3

19.8

-89.8

-

20*

7

-

45.9

-

▼

-

8

31

2,175.5

162.4

-

7

-4 -129.627*

-54.5

2016

2

8*

-27

5*

▼

24.6Vitale&Co-IMAP

Banca IMI (Intesa Sanpaolo)

-

35.3

7

120.0

2017 2017Change in

72

Rank

Jan 1 - Dec 31

1,417.8

2

308.8

7.5

100.0

38.9

-4 8

Rank Value

13*

Financial Advisor

▼

Credit Suisse

17

4.0

Jan 1 - Dec 31Italian Mid-Market M&A up to US$500m by Target Industry

20*

100.0

2017Rank Value

620.7

3

65.4

14*

8*

▼

100.0

100.0

9

925.1

1,505.8

45.7

▲

UBS

▼-92.5

5

0.0

4.0

0.0

592.4

100.0

5.629*

43.6

5

▼

135.8 115.3

Industry Total

100.0

12

25

▼

▼

-71.4

▼

23

360.0

26

.6

4

1 ▲

-57.9

18*

12

13

0.0

9

17

17

10

-35.9

387.8

8

38*

1010.0


▼

7

9

▼

0.8

8

17

16

100.0

** Fee

Italian Mid-Market M&A up to US$500m by Rank Value Range

▼

3

204.9

5.0▲

17

8.8

26*

15.0

15

10

-8

-4.3

7

14*

14.7

51* 12.3

7

13.7

5.2

▲

▲

5 3

Change (%)

0.0

47*

1

19.5

4

100.0

-82.9

17

Exp. (%)

▼

▲

29

0.0


83.8

5

382.6

100.0

7

6

32.4

Rank Value per Advisor# of Deals per Advisor

35

57

351.3

5

100.0

▼

26

1 89.1

▼

54.7

61.7

▼

12

521.6 490.6

-70.8

0

▼

▲

100.041

313.7

100.0

29.0

11

6.1

-

91*

25.9

-

0

0.0

582.7

-

2

49.1

▼

Rank

▼

1.7101.7

-0

-6

10.2

-17.9

▼

5.6

20*

1,048.9

▲21286.6

-7

- 35*

6

15

▲

▲

# of Deals

18*

27*

14



3

Deals

▲

Euro mil

0.0

▲

KPMG

5

Arkios Italy SpA

29*

-

47*

-4 ▼

29*

-

-4

18

1,294.6

-

14

-2

-3

▼

7

8.7

18*

30*

- 3.0

5.4

-3.4

-78.1

2,211.9

Goldman Sachs & Co

CFI

BDO

Citi


Unione di Banche Italiane Scpa

Mediobanca

Kon SpA

Lazard

UniCredit

Leonardo & Co

Morgan Stanley

Deloitte

4*

18*

18*

Ernst & Young LLP

74*

Brera Advisory Spa

Bain & Co

27*

27*


Alantra Partners SA

2

Fineurop SpA

DVRCapital SpA 32* 51*

11*

74*Spada Partners

7

32* 29* 4

16*

27*

1

31

1,088.0

-12

Rothschild & Co

16*

4 2 ▲ 21.6 20.0 - -93.6 ▼ 3.3 32* 100.0

Partners SpA 32* 74* 4 3 ▲ 2.2 2.0 71 -98.9 ▼ 3.1 34 100.0

3.7

4*

100.0

-63.8

10 -19.2 ▼

-71.0

13*

16

3

12

21*

21*

21

8*

15

- -

Ethica Corporate Finance SpA 5.3

Deutsche Bank

7 -1 ▼

21*

22

21*

-

5.7

180.9

136.5

-

-

1

100.0

-

-87.5

▼

BNP Paribas SA

2.2

▼

40.2

4

-2

40

2,512.1

30.4

1,691.9

RankFees

32 -71.2 ▼ 3.3 32* 51.6

JP Morgan 32* 14* 4 -7 ▼ 370.3 327.3 16 -65.7 ▼ 5.7 17 22.4

▼

-

50

100

150

200

250

300

350

400

$0

$1

$2

$3

$4

$5

$6

$7

$8

# o

f D

eals

Rank V

alu

e (

US

$b)


27.2%

14.0%

13.3%

11.1%

7.6%

6.6%

5.7%

4.7%

4.1%

2.5% 2.3%

Financials

Real Estate

Energy and Power

Industrials


High Technology

Consumer Staples

Retail

Materials

Healthcare


Telecommunications

10

krizvi

Highlight

krizvi

Clairfield


Spanish Involvement Mid-Market Rankings (MM8)



Macquarie Group 38*

30* 50.0

3.5 35* 100.0

3.2 38 48.5

1.3 49 100.0


100.0

0 0 57* - - 1.8 48 100.0

2017

4

14 -26.6

32* 55.4

384.4

▲

▲

65.1▲

-77.9 ▼ 3.6 32* 43.4


Exp. (%)

** Fee

Deloitte

Alantra Partners SA


Rank Value

-

1

7

188.6222.2

1

-78.5

3.6

▲

2

2017

36.3

4.8 23 47.5

3.0 39* 49.2

3.9

100.0

# of

▲

Change in

25* 4 0

5.7

60*


23

3

-4

57

133.0 33

25*

▲

0

32* 38* 3 0 -

4.2 25

174.0 163.1 - - -

259.1 238.0 24 - -

105.4 95.4 - - -

Clairfield International 38* -

▲

3 ▲

38*

38* - 2 2

2 1 ▲

0 - -

574.8 ▲ 3.6

38* 2 -1 ▼

100.0

3 -1

346.4 19 102.2 ▲ 3.4 37 100.0

35.7

Eurohold SL

6

1.6

11

12*

8*

▲

14.7

▼ 16*

11.1

4

3

▼

100.0

53

5

6

0

41

▲

228.1

▲ -

24*

24*

7

13 7

25*

BNP Paribas SA

Lazard

47* 5

16*

▲

14*

7

1,366.2

▲

14

88.5

11

380.9 ▲

-2

1,057.6

-36.6

-34.9

45

8.3

10.9

60*

3.9

1

-

876.9

10*12*

▼

0



14*

24*

Euro mil

▲

1,366.0

73.3

758.0

▲

690.7

-

6

Santander Global Corporate Bnk 25


11

10

Advisor

18.1

11.0

6 -85.8

15

Mediobanca

BDO

Rank Value

13.2

0

3

7

3

77

18

12

1,414.6

5.1

10*

-

5

▲

▼

Change (%)

8*

606.3

-99.3

-22.7

Rank

9

3

5

5.5 20

▼ 158.0

-

423.2 17 448.2

▼

4

1

0

3

17

- -

10

10

479.3

Morgan Stanley

Norgestion

10*Montalban

8*

1,188.2 5

20.225,078.0

-

▲

579.2

6

13*

▲

642.4

2

0 0 - -

3

Jan 1 - Dec 31

53.1

100.0

Deals

100.0

Rank

1

32* 100.0

904.2 792.3 8

19

526.8

25*

10.8

17.0

203.5

▼

6.8

▼

1,312.7

9

39

640.3 ▼

11.1

▲

-44.4

-

0 0 - - -

2 2 ▲

Industry Total

1

1,510.1

▲

2

2017

1,813.8

100.0

-2 ▼ 590.6 521.1 13 -39.9 ▼

7.0

0 - - - 4.0

3 ▲ 48.2 43.3 - - -

-

26

64.3

28.0

▼

697.2

60* 2 1 ▲ 0 0 -

397.9

13.4

▼12

15

6.1

-12.9

-1 ▼ 205.8 189.1 -

18*

-

70.5

▼

79.0

▲

▼

Spanish Mid-Market M&A up to US$500m by Rank Value Range

12.6

100.0

-

-

15

4

-

100.0

1,436.4

Rank

18

11

-23.4

14* 7 0

1.5

▲

74.4

1

10

30.3

8 7

▼

5

▲

4*

12*

8

18*

59.1

7.8

100.0

3.0 39* 100.0

22,295.1

12

3

9

521.9

▲18*

28* 18* 4

3

25* 2 -2 ▼

Jan 1 - Dec 31

84.4

▲

Spanish Mid-Market M&A up to US$500m by Target Industry

▲

66.9

9

25*

87.0

7.8

▲

-

6

-

▲

0

4.0

30*

4*

27*

27*

10 -

145.0 -

262.4

10

1,645.3

100.0

38.5

222.0

6.8

100.0

-

▼

769.8

# of Deals US$m


1

16

100.0

10

-

11.1

2.7

13* 48.8

4.3 24 100.0

5.0 22

3

850.7

0

0 0

-

142.2 135.0 - - - 4.0 27* 100.0

-

78.3

2.7

Fees

-

-24

▲

1,638.0

Rank

2.4

-7

28*

▲

1 ▲

-1 ▼

9

14*

375.2

23*

-98.9

▲

-

10

1

5

21

-

1,216.6

2

12

▲

0.8 71*

20.3

▲

5

89

76.3

5

1,231

28*

24*

Citi

Arcano Asesores Financieros SL

Ernst & Young LLP

KPMG


Financial Advisor

CFI

JP Morgan

12*

CBRE Holding SAS 32* 38*

8

20*

AZ Capital 32* 25*

Goldman Sachs & Co

38* -

IREA Corporate Finance 38* 60*

IMAP

20*

20*

23

2016

5

2

16*

10*

Credit Suisse 32*

RBC Capital Markets 32* - 3

32* - 3

BBVA

Haitong Securities Co Ltd

Clearwater International 28* 47*

PJT Partners Inc

Societe Generale

Houlihan Lokey

Evercore Partners

Nomura

Rothschild & Co

1

4 2 ▲ 0

▼

1,211.4 1,061.4 7 30.5 ▲

541.1 502.4

162.9

Deutsche Bank

GBS Finanzas SA

162800.0


*tie

Cushman & Wakefield Inc

UBS

▼ 0 0 57* - - 2.0 43* 13.2

Itau Unibanco 38* 38* 2 -1 ▼ 394.4 335.1 18 180.9 ▲ 2.5 42 100.0

440.1

18*

4.1

100.0

-

16*

13.4

33

38.8

15.4

▲

- 53.4

21

59.2

8*

308.4 270.0 22 228.8

- 2.0 43* 100.0

Grant Thornton 38* 60* 2 1 ▲ 142.2 135.0 - - - 0.5 77 100.0

Jefferies LLC 38* 60* 2 1 ▲

Bank of America Merrill Lynch 38* 38* 2 -1

-

50

100

150

200

250

300

350

400

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

# o

f D

eals

Rank V

alu

e (

US

$b)


21.0%

18.6%

13.2%

10.8%

10.3%

5.5%

5.3%

4.7%

3.6%

2.8% 2.2% 2.3%

Real Estate

Industrials

Energy and Power

Financials


Consumer Staples

Healthcare

Materials

High Technology


Telecommunications

Retail

11

krizvi

Highlight

krizvi

Clairfield


Nordic Involvement Mid-Market Rankings (MM9)



Moelis & Co

Macquarie Group

Citi

Pangea Property Partners AB

Grant Thornton

Newsec Corporate Finance AB

0 - - -

18.9 71 -99.0 ▼

5.0 23* 100.0

3.0 43* 100.0

1 ▲

4 2 ▲

-9 ▼

4

-127

.9 110* 100.0

1.0 76* 100.0

1.5 73 100.0

4.0 31* 100.0

1.6 72 100.0

2.4 54 17.5

3.3 41 100.0

2.8 48* 100.0

3.5 38* 100.0

3.8 33 100.0

.7 116* 100.048*

65*

65*

96*

-

37*

96*

28*

18*

48*

65*

41.4 38.1 - -30.8 ▼

74.4 65.3 - 122.1 ▲

0 0 85* - -

707.1 631.6 5 109.4 ▲

106.6 100.0 49*

- - -

-83.3 ▼

20.1

0 0 -

505.9 453.6 12 -19.9 ▼

14.9 13.7 76 -97.3 ▼

10.7 9.5 - 970.0 ▲

4 -34.0 ▼

0 0 - - -

4.6 26* 100.0

5.7 17* 10.7

8.4 9 19.1

.8 112* 100.0

5.2 20* 100.0

3.0 43* 100.0

3.0 43* 8.6

4.6 26* 100.0

6.4 12* 100.0

0 - - -

361.9 332.0 20 -62.3 ▼

789.6 675.2

9 -72.2 ▼

▼

246.8

98.8 88.3 - -42.6

-13 ▼

6 -15 ▼

6 3 ▲

6 -1 ▼

5 0 -

5 3 ▲

5 2 ▲

5 2 ▲ 192.3 - 18.4 ▲

21.9 18.7 - -

-38.2 ▼

325.7 286.7 24 -61.7 ▼

5.2 20* 100.0

5.8 16 100.0

100.0

3.5

2

5

700.4

23.5

28* 43.0


4.7

3.7 3.5

-8.548*

96*

37*

37*

65*

28*

7 1 ▲

7 -1

100.0

100.0

100.0

3.6 36*

24

21*

15*

55.1

▲

▲

6

22*

22*

22*

Rank

23

17

4 -15

▼

▼

8 -75.9595.6

Rank

▼

-93.6 ▼

0 0 - - -

10.0 9.2 - -94.8 ▼

585.5 501.0

-22* 21* 7

32*

32*

43*

37

18

65*

-5 ▼

27

ABG Sundal Collier

Lazard

9*


32*

32*

32*

Deals

22*

23

JP Morgan

5 1 ▲

5 1 ▲

5 3

Swedbank


Alpha Corporate Finance


BCMS Corporate Ltd

Capitalmind

AGC Partners


Livingstone Partners

Mid-Capital

Stella EOC

10* 14

-

18*

27*

43*

43*

-23.8

Advisor

▼

480.2

-58.3

Exp. (%)

96.0

4

▲

5 0 -

-

165.3 152.1 -

60.0

-

▲

14

8*

34

18*

4.3


Deloitte

Translink Corporate Finance

CFI

Goldman Sachs & Co

Barclays

28*

12*

11

48*

25*

28*

48*

48*

▲

▼

▼

7 -5 ▼

6 1 ▲

6

5 3 ▲

5 3 ▲

4 3 ▲

4 4 ▲

4 0 -

4 3 ▲

4 -1 ▼

4

24,779.4

74.3 65.0 - 509.0 ▲

17.9 16.6 - 231.5 ▲

9.8 8.5 3.2 42 100.0

4.3 28* 32.1

2.0 58* 100.0

2.1 57 100.0

- -

0 0 - - -

0

32*

27*

▼

10 9

16*

327.8 ▼

5 2 ▲

2,196

Raymond James Financial Inc

27*

Industry Total

Catella AB

UBS

HLP Corporate Finance Oy

27*

▼

0

9

▼

-5

43*

▼

5.7

Handelsbanken Capital Markets

Credit Suisse

37.5

-

482.5 442.5

36.5

▼

32.3

▼

2 1

▼

Change in

▼


43*


** Fee

40.8

7*

14

5*

▼

23

9*

100.0

# of Deals

# of


229.0

100.0

7* -4

3-

-5

46

-14

-

992.9

▼

100.0

16.0

-70.0

100.0

19


-90.2

Rank

8*

-35.3

0 40.1

-20

250.7

▼

666.3 ▼

304.5

6.4

Euro mil

22 8.8

47.2

3

2017

▲

14

-66.0

6

2017 Rank Value

38*

26

Change (%)

Jan 1 - Dec 31 Nordic Mid-Market M&A up to US$500m by Rank Value Range

33.7

17* 79.2

78.8

Nordic Mid-Market M&A up to US$500m by Target Industry

-63.5

12*

▼

-81.3

3

562.6

-

4

38.5

8

5*

500.7

Jan 1 - Dec 31

Rank Value

▼

0

6

7

1


12*

-70.2

▲

100.0

▼

US$m

100.081.8

7

▼

2

657.8

18*

15

88.511

0

54

139.8

-4 ▼

43*

43*

-4

▲ 281.1

-12

12

16* 544.6 25

-63.6

14.7

11

19

610.928,138.4

-1

10

11

13

18

Fees

-

▼

-9.9

18.6

-14

817.5

11.5

20*

6.4

486.0 10

11

9.8

458.1

2 -65.1

12*

160.6

471.7 398.6 -66.4

▼

425.8 16 -58.9 ▼ 3.7 34* 38.1

58.1

43*

5*

12*

15.9

572.5

▼

572.2 -5.6 ▼

▼

Rothschild & Co

Ernst & Young LLP

DNB ASA

10*

4

12

5*

3

6.4519.0

5.2

6.5897.2

58.019

2017

-

69.9

5.6 100.0


27*

Rank

15*

2016

1

Jefferies LLC 20* 25* 8 1 ▲ 200.0 189.3 38* -68.8 ▼ 9.3 7 100.0

13

Nordea 18* 15 9 -8 ▼ 461.7

13

Globalscope

SEB

Financial Advisor

KPMG

Danske Bank

-

Carnegie

IMAP



BDO

FIH Partners AS 37* 8 4 ▲ 413.9 357.0 17 - - 4.0 31* 47.1

Morgan Stanley 48* 7 4 ▲ 1,215.8 1,102.8 1 941.8 ▲ 7.8 10 19.6

20*

32*

32*

32*

32*

*tie

32*

Alantra Partners SA 43* 65* 4 2 ▲ 0 0 - - - 1.7 71 100.0

-

100

200

300

400

500

600

700

$0

$2

$4

$6

$8

$10

$12

$14

# o

f D

eals

Ra

nk V

alu

e (

US

$b

)


20.1%

15.6%

12.5%

10.1%

8.4%

8.0%

5.9%

5.5%

5.0%

3.8% 2.8% 2.3% Real Estate

Industrials

Energy and Power

High Technology

Financials

Materials


Consumer Staples

Healthcare


Retail

Telecommunications

12

krizvi

Highlight

krizvi

Clairfield


Benelux Involvement Mid-Market Rankings (MM10)



44* 100.0

50.2 44.2 - -78.4 ▼

200.8 183.0 - 499.4 ▲

15.2 14.4 - -89.0 ▼

367.0 341.8 - 188.7 ▲

399.1 345.3 24 404.6 ▲

220.7 208.0

3.9 38* 55.7

3.0 44* 100.0

0.7 141 100.0

6.0 25* 100.0

1.8 78 13.0

3.8 40* 100.0

10

-75.3 ▼

7.2

100.0

668.0 604.9

1,305.2

7*

10

3

27*

21* 73*

17*

21*

21*

35*

3

22*21*

50.2

3.0 44* 100.0

Drake Star Partners 44* - 4 4 ▲

497.2 429.5 18 -64.3 ▼

661.4 556.0 14 17.5 ▲

0 0 -

Macquarie Group

-35.5 ▼

724.5 664.4 11 83.8 ▲

686.7 592.6 12 1392.8 ▲

0

85* 7.3

4.0 35* 31.3

3.6 42 39.6

3.9 38* 100.0

4.0 35* 100.0

▼

-


150.8

17

-

28.0

169.1 ▲

7 -2 ▼ 88.3

9

4.1

▲ 1,678.1

1

17-72.2

12

66.4

16 100.0

▲

25*

15

17.9

218.4

▲

-5

2017

55.0

14

US$m

Rank Value

Fees

35*

81.6

39.5

▲

▲

1,457.2

0

-2 ▼

▲

▼

-1

425.2

▼

-

▲

100.0

100.0

▼

1,211.2 ▲

31*

-14.1

949.2

15

Rank

▲

2

▼

277.2

223.1

4.0


▼

-10

2,422.7

100.0

44*

3

18

▲

8

7

Mediobanca 44* 57*


0 0 -

4 1 ▲

Jones Lang LaSalle Inc 44* 31*

2,073

0 - - -

41* 57* 5 2

4 -3 ▼

BMO Capital Markets 44* 73* 4 2 ▲

Mid-Capital

-

- -

-

938.0

BNP Paribas SA

Quarton International 4 ▲

Industry Total ▲36,433.9

12

-

2.4

37.1 34.5 69 -92.0

▲ 100.0

8.641*

15*

-23.4

1

38

2017

35*

UBS 36* 22* 6 -5 ▼

CBRE Holding SAS 36* 35* 6 0 -

Societe Generale 36* 105*

30

6

17*

44* - 4 4 ▲

6 5 ▲

UniCredit 41* 41* 5 1 ▲

▲

41* 31* 5 -2

6 -24 ▼

8.9

36* 7*

57.0

3

26

43.5

100.0

11

-

9.0

14

# of 2016

▼

-

44* - 4


Rank

Rank Value

-

-

▲

▼

0

100.0

13

11.4

8.4

8.5 - -95.3

5

717.4

▼

59.9

-

-8

▲

1

▼

12

26.2

1,455.3 3584.3

▲ 47.7

-

-

Jefferies LLC

Banque Degroof Petercam SA

RBS 28*



*tie

6

10.1

10

5

30.8

6

34

9

▼

20.0

35*

100.0

17

▼-73.5

5

2017

257.7

2.7

14.0

1,739.8

6

57

12

-12

9

18*

2

100.0

526.9

6.0

14*

21*

7.8

9

0

100.0

15

3

- 12

1,399.4

100.0

100.0

27.3

2

495.2

35.5

45.7

19

2

8*

▲

1

14*

13

-27.0

17

33

891.6

▼

-

-13

▲

-72.6

11

▲

3.9

4.9

11.0

1.2

3.0

5 33218.5

10.940,980.4

14

4 48

4

-

14 0

6.5

114.5

810.1 9 ▼

1,609.1

26 61.9

58105.1

55

0

1.9

87.9

0-

0

25.0

-75.7

11

2

3

Global M&A

Capitalmind

CFI



14

-

31

▼

75.0

0

-

20.7

▲

** Fee

11.0


-

▼

Jan 1 - Dec 31

100.0

Advisor

100.0

▼

9

11 7

Benelux Mid-Market M&A up to US$500m by Target Industry

Exp. (%)

3.0

33.8

-

▼

2.54

0

21

Jan 1 - Dec 31

12 7

▲

-2 ▼

Change in

-22.0

55 -5

-40

7

27*

19

# of Deals

2

8 1,545.9

40

▼ 10.0

Euro mil

-9 ▼

254.5

- 30.4 ▲

Benelux Mid-Market M&A up to US$500m by Rank Value Range

77

▼

5

2,715.3

▼

-

Change (%)

16.6

270.8 237.2 34 -65.4 ▼ 7.6 18 100.0

654.2

- -50.7

15* 7

21

3

4

JP Morgan

Haitong Securities Co Ltd

Credit Suisse

Morgan Stanley


Goldman Sachs & Co

21* 41*

▼

14*

Rank

13

116.9 105.0

-9

8*

-73.4

0

9

20

19-22

57Deloitte



Ernst & Young LLP

Lazard

Cooperatieve Rabobank UA

IMAP

ING

-

7 ▲

▲

23.6

Globalscope

BDO

KPMG

Rothschild & Co

Financial Advisor

Citi

Rank

2

580.6

-2

39

568.4

DC Advisory 27 25* 8

22* 9

5.8 28 53.2

Houlihan Lokey 28*

Barclays 28* 18* 7 -6 ▼ 829.0 721.2 10 115.7 ▲ 7.1 20* 75.5

Natixis 28* 73* 7 5 ▲ 193.9 170.1 - - - 2.8 52* 100.0

82.5

Evercore Partners 28* 27* 7 -2 ▼ 1,060.6 910.9 8 -34.3 ▼ 6.7 23 75.3

100.0

17*

100.0

12.3

Deals

▼ 5.0 30

2

▲200.4

1,826.5

100.0-

24

4.5

6.0 25* 100.0NIBC NV 28* 31* 7 0 - 0 0 - - -

Bank of America Merrill Lynch 28* 13 7 -13 ▼ 1,445.6 1,321.1 6 -30.5 ▼ 13.4 9 16.9

Alantra Partners SA 28* 73* 7 5 ▲ 31.4 29.3 - 113.6 ▲ 3.3 43 100.0

16 90.8 ▲ 7.1 20* 81.6Deutsche Bank 36* 18* 6 -7 ▼ 629.9 574.7

-

100

200

300

400

500

600

$0

$2

$4

$6

$8

$10

$12

$14

$16

# o

f D

eals

Ra

nk V

alu

e (

US

$b

)


17.6%

14.0%

10.3%

9.4% 9.0%

7.8%

6.8%

6.2%

5.5%

5.1%

5.1% 3.2%

Real Estate

Financials

Energy and Power


Industrials


High Technology

Consumer Staples

Materials

Retail

Healthcare

Telecommunications

13

krizvi

Highlight

krizvi

Clairfield


Eastern Europe Involvement Mid-Market Rankings (MM16)



32.924*


Rank

▲

8

Jan 1 - Dec 31

-7

▲

1.7

18.5

▲

-2

78.8

▼

- 3

22*

3

183.5

20

▲

-1 ▼

-

3

100.0

100.0

22*

0 0 49* - - 2.0 22* 100.0

22* 60* -

-16.8

451.4

-

3 2

9*

- -

▲

22* 60* 3

22* 17* 3

▲ 0 0 -

-2

2 ▲

56.7

60*

▼

10.1 9.0

49*

18*

CMS Ltd.

3 1,472.5

580.8▼


Euro mil

▼

Turkiye Is Bankasi AS

KPMG

BNP Paribas SA

-3 ▼ 0

204.0

31*

▲

Lazard

Baker Tilly International 22* 24* 3 -1 ▼ 0 0 -

HSBC Holdings PLC

-

-51.4

3.0

▼

-63.8

Change (%)

-5

6.4

2017

620.2

10

4

35

42

24

15*

▼

Industry Total


49*

▼

6

1312*

8

100.0

** Fee

100.0

87.7

8

15.7

6.0

12* ▼

▼

100.0

Exp. (%)

5.0

10

100.0

-33.6

-10

6

1


623.5 557.6

9

38* -88.5

23,838.9

014

CFI

6

0

1

6

21

-

15

18*

15* -

▼

5

8*

▲

9

988.9

▲

404.8

1,714.8

▼▲

Citi 0 49* -

100.04.6

31*

11

2.9

# of Deals

2

61.9

22*

3

- 0.7

7

Mediobanca

59*5

3.0

6.81213.3

100.0

100.0

27.5

-64.2

-

100.0

31*

18.6

51.1

▲

7

10

478.4

105.8

18.6 ▲

2

533.5

19.1

▼ -

0

1,046.3

4 ▲

BDO

▲

18*

Societe Generale

Credit Suisse

Morgan Stanley

UBS


JP Morgan

VTB Capital


-

-

17.4

22*

100.0

100.0

▼

22*

Deloitte

2

Rothschild & Co

Globalscope

Ernst & Young LLP

4

10

-97.24

13*

16.2

43

-

5

▲

14*

0

0

80.2

25

16*

4.534.0

- 100.0

2

148.4

▼-5 28*

-

41*

41*

514.06

24*

-10

-3

11

-9.6

19*

8

631.4

9*

1

RankDeals

62.8

Rank

04


9

0 0

-90.7

-

6

12.0

Fees

12

15*

5

9*

▲

622.0

4

2017

4

10

92.019

▼

13.0

3

US$m

3

Eastern European Mid-Market M&A up to US$500m by Rank Value Range

487.8

▼

▲

Advisor

5.0 11*

30

12

14

6.1

16*

-

1.9

22*

Rank Value

4


EE Mid-Market M&A up to US$500m by Target Industry Jan 1 - Dec 31

21,088.4

272.3 249.7 13 -45.1 ▼ 4.6

22*

15.7

-2

2.0

8.2

0

0

-

382.1

- -

3

2017

5

# of

1

307.4

- 0.2 71

Financial Advisor

▼ 2.0

2

1

7

▼

2.5

18

4

-8

▼

▲

9.4

18*

22*

18

-2 ▼

▲

27

-

134.7

17*

5

84.5

107.6

349.1

▲0

-

100.0

11.5

8.0-2

▲

-

3

100.0

-

-7.3


2016

100.0

▲ 11*

100.0

-

12*

97.5 432.8

100.0

▼

392.5

Rank ValueChange in

833.98

▼

21* 3

13*

-

3,007

30.8

-860


67.5

-

126.3

6*

5.9

2

3

-

5

-

260.1

123.7

-24*8*

- 2.0

IMAP

Barclays

Rank

6*

24*

2


*tie

Deutsche Bank

Houlihan Lokey

958.512

▼

-

10

-

-

200

400

600

800

1,000

1,200

$0

$2

$4

$6

$8

$10

$12

# o

f D

ea

ls

Ra

nk V

alu

e (

US

$b

)


19.6%

13.7%

12.3%

11.9%

9.9%

7.9%

6.0%

5.6%

4.4%

4.3% 2.5% 2.0%

Real Estate

Materials

Industrials

Financials

Consumer Staples

Energy and Power

Telecommunications

Retail



High Technology

Healthcare

14

krizvi

Highlight

krizvi

Clairfield


Australia/New Zealand Involvement Mid-Market Rankings (MM11)

*tie



Highbury Partnership Pty Ltd 38* - 3 3 ▲

2.0 40* 100.0

0.3 84* 100.0

1.0 49* 26.3

66.5

3.9 22* 53.4

8.9 9 70.6

2.3 36* 100.0

2.7 34 47.4

- - -

7.7 12 37.4

0.5 78* 100.0

3.2 27 100.0

0.4 80* 100.0

850.0 12 -

2.0 40* 100.0

-4

39*

RBC Capital Markets 31* 18* 4 -2 ▼

- -

Flagstaff Partners Pty Ltd 31* 39* 4 2 ▲

Clairfield International 31* 14* 4 -5 ▼

Burnvoir Partners 38* - 3 3 ▲

Santander Global Corporate Bnk 38* - 3 3 ▲

Globalscope 38* - 3 3 ▲

RSM International Ltd 38* 18*

-

416.1 20 -29.5 ▼

201.4 -

2 ▲

Grant Samuel 31* 16 4 -4 ▼

Tudor Pickering & Co LLC 31* - 4 4 ▲

20

Allier Capital 26* 18* 5 -1 ▼

Evercore Partners 31* 31* 4 1 ▲

Cameron Partners Ltd 31* 39* 4

6

4 ▼

58.3

1.8

5

▼ 58.9

▼

-75.4

10*

942.0

12.3

7


▲

71.4

31.2

-7

16

-

55.4

14.2

10.0

2017

45* 22.0

4.5

-29.5

5

5

36

Deals

3.1▼

0.9 100.0

5.4

19

▲

15.0

68.3

1

Change (%)

8.0

100.0

2,650.8

▲

5

# of Deals

31.3

US$m

Advisor

26*

26*26*

31*

Rank

0 96* - -

234.9

5.3

-22.8

915.2

213.2

5.3

4

▼-30.1

17.1

2017

10.0

6 -4 ▼

27*

6

-

-56.8

105.7

2017

31* 5

▲

1,982.3

3

21

6

4

41

8

▼7

60*

1,808.0

1855.3 ▲

6.5 - -75.9 ▼

97.5 - - -

▲

18*

9.6

7.0

Rank Value

Jan 1 - Dec 31

8

-

17*

3.8

▲321

298.2

205.6

5

17*

17*

17*

42152.9

17

▲

▼

3,463.8

320.6

1▼

7.8

20

▲

▲

5

6*

6

402.8

1.5

22*

25

-

31*

18*

8 48

3,617.3

5

2

10

5

43

▲

679.1

29

7

6*

18*

10

0

564.4

11

100.0

4.9

7

26▲

10 -7.0 ▼

▼

Fees

-1

15

Rank Value per Advisor (US$m)

6.3

36.0

100.0

78.1

11.4

▲

3.5

1.3

6 49*

22* 13

14

100.0

100.0

14*

▲

▼

28*


10*

13*

9

100.0

6Rothschild & Co

Goldman Sachs & Co

Macquarie Group

10


Deutsche Bank

Houlihan Lokey

Morgan Stanley

Industrial & Comm Bank China

NomuraFort Street Advisers

-63.8


KPMG

Rank

▲

-15.6

▲

Rank Rank

100.0

16

-52.7▲

4

10*

UBS

▼

56.6

165.9

▼

2

Industry Total

Jan 1 - Dec 31

1.0

45,084.62,214 675.4

11

2

100.0

51.0

25.8

# of

8

234

3

2016

Australia/New Zealand Mid-Market M&A up to US$500m by Rank Value Range

17.3

1

32.6

7

100.0

54.2

45.3

10.3

44.0 - - -

5.8 - - -

0 - - -

494.7 18

-25.5 ▼

3

-73.4

36.9

▲

1

Barclays

JP Morgan


BDO

Miles Advisory Partners

Citi

Credit Suisse

Ernst & Young LLP

-

-

First NZ Capital

Lazard

Greenhill & Co, LLC

Investec

Forsyth Barr

Deloitte

0.5

3.9

25* 1

22*

1

14

7

▲

4.2

-

2 ▲

▲

22

17 ▲

Change in

▼ 1,293.1

3

▼

▼

** Fee

Exp. (%)

7

9

10*

17*


-75.2104.8

5 1

52.2

10

4

17*

5

22*

▼7

18*22*

Aus/New Zealand Mid-Mkt M&A up to US$500m by Target Industry

-22

25

-54.7

9

▲

13*

1

5

10

▲

8

▲

-

136.8

379.1

-32.1 7.0

-

▼

-19.6

10*

2,181.0

▲

6

100.0

15

17

111.8

36

31

▲

0

27*863.6 11 77.0 ▲

9

8030.8

330.4

585.4

441.3▲

-5

15

14

1,574.4

-1

72.1

▼

9

26

5

2

2.9

26*

-

▼

47.6

▲

3 -3 ▼

148.3 43 -30.1 ▼

714.8 13 -33.5 ▼

260.1 29 -44.6 ▼

87.6 55 -88.8 ▼

-83.7

31*

70

10*

▲

100.0

1 ▲25* 5 0

256.0

578.2

17*

1

Gresham Partners

Moelis & Co


Financial Advisor

8

75*

5.2

0.6

▼

▼

50

10* -1

15*

Rank Value


15*

▲

-

100

200

300

400

500

600

700

$0

$2

$4

$6

$8

$10

$12

$14

$16

# o

f D

eals

Rank V

alu

e (

US

$b)


25.7%

12.0%

9.7%

9.0%

8.8%

7.1%

7.0%

6.3%

6.3%

3.9% 4.2% Real Estate

Industrials

Energy and Power

Materials


Financials

Healthcare

Consumer Staples

High Technology


Retail

Telecommunications

17

krizvi

Highlight

krizvi

Clairfield

mid-market m&a review · 2018. 1. 15. · * source: thomson reuters ** fee exposure indicates...

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