Mid-market advisory firm Clearwater International completed a record breaking 106 deals worth over EUR9 billion in 2016 – a deal value increase of over 120 per cent from 2015.
Average deal values also nearly doubled during the period.
In a year where the business completed mergers with firms in both France and Germany, all territories, sectors and service lines experienced exceptional levels of M&A activity.
For the third year running, the industrials and chemicals team was the most active in deal completions including the merger of X-label with RAKO and Baumgaten – a cross border deal which created the largest global labels business; a fundraising and acquisition advisory role for FM Conway; and advising Taziker Industrials on an IBO, backed by Bregal Freshstream. The keynote industrials deal of the year came in technical services with the sale of automation specialist Macdonald Humfrey to US firm L-3 Communications for EUR300 million.
2016 also saw a large number of deals with private equity (PE) involvement. Some notable transactions included affordable housing provider Westleigh receiving capital growth investment from Palatine Private Equity; MCH Private Equity’s acquisition of a shareholding in Grupo Brasmar; the sale of B&B Hotels from Carlyle to PAI; and advising the management of Funeral Service Partners on their secondary buyout.
The business saw further strong levels of activity from its debt advisory practice, which increased the number of deals structured with debt
Clearwater International’s deal levels were matched by activity to extend the business, including mergers with a French and German firms. Significant gains have been made in sector depth with Clearwater’s cross border sector teams in automotive, energy and utilities and real estate led by partners from Germany and France.
Michael Reeves, CEO, Clearwater International, says: “2016 has been another tremendous year for Clearwater International and our clients, with our deal values increasing 120 per cent in the last year. With extended sector coverage and more team members across Europe and Asia than ever before we look forward to increasing opportunities for our clients in 2017.”
