Private equity is driving greater integration between European companies through buy-and-build activity, 25 per cent of which has been cross-border in the last quarter.
Analysis from Silverfleet Capital and Mergermarket shows that 66 per cent of add-ons in Europe were domestic, 25 per cent were made in other European countries and the remaining nine per cent were platform companies buying outside of the continent.
The most recent quarter saw a shift to Europe and the US, away from South America and Asia compared to Q2.
However, overall activity was down from 103 to only 67 bolt-ons.
Deals in the quarter included Saga’s purchase of Allied Healthcare, Tunstall’s acquisition of American Medical Alert, Photobox’s tie-up with Moonpig, Brenntag’s takeover of Multisol, Tarkett buying up Parquets Marty and Kiloutou taking over Groupe AltéAd. u2028