Industry Reports

Q4 2017
Security Solutions industry fundamentals remain attractive as both commercial and residential sectors prioritize the need to enhance their security capabilities in the wake of increased global terrorism and heightened public safety concerns.  With 112 deals announced or closed year-to-date (YTD), merger and acquisition (M&A) transaction volume remains on pace with the record levels of 2016.  Continued demand for security monitoring services and video surveillance products has been a driving force within the industry.  
Q4 2017
With 75 transactions being announced or completed year-to-date (YTD) in 2017, the Maintenance, Repair & Operations (MRO) industry continues to experience strong M&A activity.  Over the past two years private equity buyers have maintained a strong interest in the MRO industry, accounting for 42.0% of volume in 2016 and 41.6% in YTD 2017.  With over $555.6 billion in US dry powder waiting to be deployed, private equity groups represent a significant force in the MRO M&A market, often competing with strategic buyers on valuation.  
Q4 2017
In contrast with previous years, when strategic buyers dominated the industry financial buyers have accounted for a significant portion of the merger and acquisition (M&A) market in 2017.  From 2016 to 2017, private equity groups (PEGs) increased their share of acquisitions from 13.5% to 37.2% of activity.  Due to the increased competition from PEGs, which has driven up valuations, strategic buyer volume has decreased from 94 transactions year-to-date (YTD) in 2016 to 59 during the same period in 2017.  
Q4 2017
Consumer products companies are in a frothy M&A market in 2017 with the Recreational Products Industry attracting premium multiples from private equity and strategic acquirers.  With a healthy 78 announced or completed transactions, public company valuations at a medium of 11.4x EBITDA and deal multiples ranging from 8.0x to 12.0x, the industry is experiencing a strong seller’s market.  
Q4 2017
Demand within the personal care market has heightened due to positive industry tailwinds such as increased consumer spending and the preference towards luxury and natural personal care products.  Through October, 102 transactions were announced or closed in the industry for a total disclosed transaction value of $2.5 billion.  Average public company EBIDTA multiples are also at a premium of 16.1x.    
Q4 2017
The merger and acquisition (M&A) market within the Industrial Equipment industry has been healthy with companies that operate in data analytics, Internet of Things (IoT) technology and automation particularly receiving increased interest from potential buyers.  Over the last twelve months there have been numerous notable deals including Argo AI’s acquisition of Princeton Lightwave and Gilbarco’s acquisition of Orpak.  
Q4 2017
Due to technology advancements, the Mapping, Modeling & Simulation (MM&S) Industry has become increasingly sophisticated and has expanded from primarily serving Aerospace & Defense to being in high demand across a variety of end-markets.  Merger and acquisition (M&A) activity in 2017 has echoed this trend, with buyers most frequently targeting companies that offer MM&S software and services for Construction & Engineering, Entertainment, Aerospace and Defense and Medical markets.   
Q4 2017
Early childhood education centers as well as learning solution providers have continued to realize increased growth throughout North America particularly for companies with quality offerings that deliver improved student outcomes.  A research team at the Frank Porter Graham Child Development Institute at the University of North Carolina at Chapel Hill found that as the quality of instruction in preschool classrooms increases, children experience better progress across a range of skills.  As a result, both strategic and private equity buyers have looked to strengthen their foothold
Q4 2017
The need to update systems and to prepare for the complex, asymmetric threats of modern warfare represents a catalyst both for overall increased government spending and specifically for expansion of the C4ISR sector.  According to MarketsandMarkets, the approximately $93.8 billion C4ISR market is projected to grow at a compound annual growth rate (CAGR) of 3.4% to $110.8 billion from 2016 to 2021.  At the same time, areas of greatest demand will no doubt grow at much quicker rates.    
Q4 2017
Merger and acquisition (M&A) activity in the Education Technology Industry has been healthy through year-to-date (YTD) 2017, already matching deal volume for 2015 and surpassing YTD volume for every year except the record set in 2016.  Activity is being driven by industry fragmentation and the fact that the market supports hundreds of small and medium sized businesses.  Moreover, due to increasing cash reserves of corporate buyers and the capital overhang associated with the private equity community, the amount of capital available for transactions is now increasing faster tha

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