Debt Financing Trends – Joe Price, Member, Corporate & Securities Practice
Key Points - - While interest rates, uncertainty and other factors negatively impacted deal activity in 2023, we saw a steady flow of carve-outs, spin-offs and joint ventures that offered creative ways to achieve strategic...more
Welcome to our year-end edition of M&A Insights, where we preview some of the themes we expect to shape deal-making over the next 12 months. Continued volatility in the debt markets has resulted in another subdued year for...more
Despite a recent slowdown in broader mergers and acquisitions (M&A) activity, and specifically in private equity deals, the independent sponsor market has continued to expand and mature over the past several years. With the...more
Decisive inorganic growth decisions by London Stock Exchange, Deutsche Börse, Nasdaq and Euronext set a furious pace for European trading venue M&A activity....more
Market Overview - Q2 2022 - Downturn in Credit Markets: In its continued effort to combat rising inflation, the Federal Reserve Bank raised its benchmark interest rate in each of March, May, June and July of this year by...more
Innovation, regulation and evolution in the health care industry have all spawned complex business arrangements that span financial, operational and professional services issues. As with any other sophisticated business,...more
In the spring of 2021, one of the hottest markets—the market for special purpose acquisition companies, or SPACs—has “screeched to a halt,” according to CNN. As the SPAC market grew red hot in the past six months, it seemed...more
Buyout firms must beware the unique legal, regulatory, and commercial issues that can complicate sports transactions and impact returns. Private equity interest in sports assets has grown over the last few years, with...more
Financial institutions M&A sector trends: consumer finance — H2 2019 and outlook for 2020 - Financial sponsors see opportunities to back new entrants targeting under-serviced customer segments, including gig economy...more
Financial institutions M&A sector trends: payments — H2 2019 and outlook for 2020. Megadeals, including Global Payments/Total System Services, Fidelity National/Worldpay and PayPal/iZettle, have dominated headlines, but...more
The wait is over. Whispers of mega-deals have matured into agenda items for boards of many larger European banks. Overview - 3 highlights of bank M&A: - Bank consolidation: The numbers speak for themselves—100 regional and...more
Cornerstone investments can assist a firm’s overall exit objective, particularly when there are bidders for a portfolio company but no outright buyer. Cornerstone investments, which involve taking a stake in an...more
Companies previously considered immune from activist campaigns have come under pressure, driving new public and private deal opportunities for private equity. US shareholder activists are an established presence in Europe....more
Over the past decade, the independent sponsor model has become increasingly prevalent in the lower middle market, with investors interested in private companies actively seeking to coinvest with prominent or promising...more
According to Pitchbook Data, Inc., Canadian private equity sponsor exit activity in 2015 reflected a year-over-year jump of more than 20 percent in volume. In addition, S&P Capital IQ data for Q3 2016 shows a year-over-year...more
What the new horizontal tax consolidation regime may mean for private equity sponsors, multinational groups, financial institutions (and everyone else…). In June 2014, the European Court of Justice (ECJ) ruled that the...more
The strong U.S. initial public offering (IPO) market, coupled with favorable regulatory changes and market acceptance of innovative transaction structures, has increased the attractiveness of the IPO as an exit alternative to...more
Joe Price discusses the various debt financing options available for leveraged sponsor deals and provides an overview of recent lower middle-market trends....more