Highest Multiples Seen in Decades Keep Mid-Market Dealmakers Optimistic
The numbers don’t lie: 2021 was a banner year for middle-market private equity dealmaking, with momentum carrying through the end of December and into the new year. That inertia hasn’t diminished as...
View ArticleFor Mid-Market PE, Q1 Shows Commitment to Quality Over Quantity
In the first quarter of 2022, the big story in the middle market wasn’t what financial buyers were paying, but rather what deals were getting done. Valuations for PE-backed mid-market transactions...
View ArticleDeal Pace Slows in 2Q as Interest Rates, other Challenges Trigger Pause
Private equity buyers continued to tap the brakes in 2Q, according to GF Data’s August report. After a blistering pace in the latter half of 2021, completed deal volume was down markedly in the first...
View ArticleA Tale of Two Markets: Lake Wobegon vs. Lake Placid
Exploring the two worlds that emerge from GF Data’s latest report Andy Greenberg and Bob Dunn GF Data’s just-released second quarter report returns us to a well-developed truism—that the M&A market...
View ArticleMid-Market PE in 3Q Sees Valuations Surge in Softening Economy
“Risk Off” is the name of the game for mid-market private equity professionals, according to GF Data’s November report. The third quarter saw a marked surge in valuations accompanied by substantial...
View ArticleMid-Market PE-backed Valuations Cool in 4Q on Low Deal Volume
Three months ago, it seemed that all the ingredients were in place for middle-market valuations to retreat from record levels. These ingredients included increased macro-economic uncertainty, a...
View ArticleInvestors Brace for a Bumpy Ride
While market conditions are increasingly challenging, private equity firms and family offices will still compete for high-quality assets Andy Greenberg and Bob Dunn The state of the M&A market...
View ArticlePublic Shaming: Middle-Market Private Multiples Beat Public Sector
Despite dropping in 2022, mid-market multiples were still higher than their public market peers Andy Greenberg and Bob Dunn Hedge fund manager Cliff Asness once noted what he called the illiquidity...
View ArticleIn spite of Challenges, Valuations, Debt Pricing Up in First Quarter
Half full or half empty? That’s the question for middle-market private equity at the end of the first quarter. Private equity groups paid up as purchase-price multiples rebounded despite increasing...
View ArticleCost of Capital, Economic Concerns Dampen 2Q Valuations, Deal Volume
Following a first quarter that saw highs and lows – purchase-price multiples and deal volume, respectively – last quarter provided little but lows. Dragged down by high interest rates and...
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