Chemicals & Metals Update : Fourth Quarter 2012
Deloitte Financial Advisory Services
This quarter’s Chemicals & Metals Update, produced by Deloitte Financial Advisory Services, summarizes the most recent transactions along with information on the most active buyers, current transaction valuation multiples and an overview of the public market’s perception of the industry.
This quarter’s highlights
European Chemicals & Metals M&A activity decreased in 2012 compared to last year. During 2012 the following trends have been observed:
- 233 transactions have been announced during 2012, compared to 309 for the year 2011. Announced European transactions in Q4’12 (62 transactions) decreased compared to the same period in 2011 (75 transactions);
- 68 private equity backed transactions (either as a buyer or as a seller) have been announced during 2012 which is a decrease of 22.7% compared to 2011 (88 transactions);
- Average enterprise value per disclosed deal in 2012 is €1,141m against €873m in 2011. Note that this average is calculated based on 82 disclosed deals in 2012 and on 129 disclosed deals for 2011;
- Median transaction multiples decreased from 8x in 2011 to 7x EBITDA ratio in 2012.
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