Silent Defaults
Impact of SOFR Rate Changes on Portfolio Companies' Fixed Charge Coverage Ratios
November 2024With SOFR at 5%, around 40% of the companies that Lincoln values have an FCCR of one or less. Despite rates coming down, over 30% of companies will still have an FCCR of one or less, but M&A is poised to accelerate.
Fed's Surprise Rate Cut: Balancing Economic Slowdown and Inflation Risks
November 2024In response to a slowing economy, the Fed's unexpected 50 basis point rate cut raises questions about timing and potential inflation resurgence, as concerns linger over whether the cuts are too late or too rapid amidst rising goods prices and economic uncertainty.
Dynamics Driving the Chemicals Market
Specialty Chemicals Transformation
August 2024Specialty chemical providers are thriving, driven by a focus on technology, product differentiation and high-growth markets. However, to stay competitive, companies must prioritize commercial innovation and robust R&D.
Traditional Oil and Gas Companies Leading Charge Toward Sustainability
August 2024Traditional oil and gas companies are leading in green tech innovation. Downstream chemical companies must align with this shift, crafting strong ESG narratives to demonstrate how their goals contribute to sustainability.
European Energy Crunch
August 2024The European energy crunch highlights a shift in the global chemical industry. With less gas from Russia, the U.S. and Asia have a competitive advantage, creating opportunities for companies that effectively navigate this landscape.
Growing Activity in Oil Field Chemicals
August 2024The oil field chemicals sector is experiencing a surge in interest. As a critical component in supporting energy and feedstock needs for a growing global population, this industry is poised for further consolidation.
Takeaways from the Specialty & Ag Chemicals SOCMA Show
August 2024We are seeing strong interest in chemicals sectors that are resilient to changing consumer preferences, particularly water treatment, cleaning and adhesives. These high-value areas offer consolidation and growth opportunities.
The State of M&A
Potential 2024 Black Swan Events
June 2024Several factors—such as a potential interest rate cut, a black swan event, and the U.S. election—may impact deal flow in 2024.
What Will Cause Further Acceleration of Deal Flow?
June 2024In the past year, we've witnessed deal flow, yet there have been fewer closed transactions. This creates a dynamic where sellers struggle to align their expectations with market realities.
When Will Deal Flow Return in Earnest?
June 2024As deal flow reemerges, it’s partially driven by private equity feeling pressure from their limited partners. After 18 to 24 months without capital returns, LPs are now advocating for liquidity events and distributions, a concept commonly referred to as DPI.
The Current State of the Deal Market
June 2024Market activity is returning with cautious optimism. Several deals put on hold in 2023 are going to market in 2024.
Pulse on the Transportation and Logistics Market
Strategic Nearshoring is Essential for Supply Chain Resilience
June 2024Mexico has emerged as America's primary trading partner, surpassing China for the first time in decades. This shifting dynamic underscores the urgency for transportation and logistics providers to scale capabilities.
Which Segments of the Logistics Industry are Most Ripe for M&A Activity?
June 2024There is great interest in logistics subsectors, such as pharma and healthcare, cold chain, and e-commerce. These industries have long-term demand, regardless of economic conditions.
What Factors are Driving M&A Activity in the T&L Sector
June 2024While transportation and logistics mergers and acquisitions slowed from its peak in 2021 and 2022, signs indicate activity is trending up. In Q1, 2024 deal activity surged by over 15% compared to the same period last year.
Previous Releases
Vet Trends - Part Two
February 2024Part one of our Lincoln's Latest: Vet series. Matt Lee, Managing Director in our Healthcare Group, shares the current staffing, financial and regulatory dynamics in the European vet market.
Vet Trends - Part One
February 2024Part one of our Lincoln's Latest: Vet series. Matt Lee, Managing Director in our Healthcare Group, shares the current staffing, financial and regulatory dynamics in the European vet market.
Electric Vehicle Trends
August 2023Lincoln’s automotive and mobility technology professionals share some top trends that are playing a key role in the electric vehicle market’s momentum.
Energy, Power & Infrastructure Trends - Part Three
August 2023Part three of our energy, power and infrastructure (EP&I) series! Lincoln’s professionals share themes within the product, outsourced service provider and software technology subsectors.
Energy, Power & Infrastructure Trends - Part Two
August 2023Part two of our EP&I series! Lincoln’s professionals explore energy storage, renewable energy and trends specific to Europe.
Energy, Power & Infrastructure Trends - Part One
July 2023Part one of our EP&I series! Lincoln’s experts reveal some of the top 2023 global EP&I mega themes impacting the sector.
Cybersecurity Dynamics
April 2023Lincoln’s cybersecurity experts reveal some of the top 2023 cybersecurity themes.
Education Trends
March 2023Lincoln’s education, technology and services professionals share some of the top trends that are leading the education market in 2023.
Succeeding in the Beauty Market
Nov 2022Lincoln’s beauty experts offer brands advice on how to succeed in today’s beauty market.
Q3 2022 Valuation Insights
Nov 2022Lincoln’s Valuations & Opinions Group shares insights into Q3 2022 valuations, including private company enterprise value multiples, third-party M&A buyouts and European revenue, EBITDA growth and margins.
ESG Trends
Nov 2022Lincoln’s environmental, social and governance (ESG) experts share key ESG insights for investors or companies that are looking to buy or sell.
Trends in the Financial Institutions Market
Sep 2022Lincoln's Financial Institutions Group offers a perspective on the key trends that are playing a role in the financial institutions market.
Overview of Pharmaceutical Outsourced Market
Nov 2021James West, Director in Lincoln’s Healthcare Group, gives an overview of the pharmaceutical outsourced market, including global drivers and trends, response from private equity firms and attractive assets for investors within the sector.
Resilient Pet Sector Attracts Increasing Investor Interest Underpinned by Changing Consumer Habits
Apr 2021Listen as members of Lincoln's Consumer Group share their thoughts on the resilient pet sector; identifying the latest trends in investor appetite and key strategies for growth for pet businesses in 2021.
Q1 Valuation Insights and 2021 Forecasts
Mar 2021With over 2,400 portfolio #valuations performed globally by Lincoln International last quarter, our global Valuations & Opinions Group shares insights from this data on EV multiples, EBITDA performance and their forecasts for private company valuations in 2021.
Resilient TMT Sector Drives Increasing Competition and Diversified Investment Strategies
Mar 2021Our TMT colleagues from around the world share insights into trends including artificial intelligence and cybersecurity, as well the latest updates on mergers and acquisitions activity in the sector.
Accelerated Trends in Industrials
Jan 2021Listen to perspectives on various aspects within the Industrials industry, from the safety and survivability in the specialty vehicle market in a COVID and post-COVID world to outbound mergers and acquisitions trends in China.
Accelerated Trends in Debt Advisory
2020Hear perspectives on the debt advisory landscape.
Accelerated Trends in Consumer
2020Hear perspectives on the changing global consumer landscape from opportunities in home living and e-commerce to the evolution of retailers in the face of increasing competition from Amazon.
Accelerated Trends in Business Services
2020Listen to perspectives on key considerations for mergers and acquisitions in business services, including global distribution and supply chain, talent and staffing in the UK and engineering services in the Nordics.
Accelerated Trends in Valuations & Opinions
2020Discover proprietary insights into the impact of COVID-19 on private company valuations to date as well as initial Q4 predictions.
Accelerated Trends in Technology, Media & Telecom
2020Hear insights on navigating rising competition as digital strategies accelerate.
Contributors
I am a rigorous advocate for my clients with a hands-on, communicative approach, focused on delivering intense advocacy and outlier results.
Sean Bennis
Managing Director & Co-head of Industrials
Chicago
I deliver a hands-on approach to provide strategic advice to my clients throughout the transaction and beyond.
Chris Brooks
Managing Director & Co-head of Technology, Europe
London
I build trust with clients by putting their interests first at all times.
Aude Doyen
Managing Director & Co-head of Capital Advisory, Europe
London
I enjoy sharing insights about market and valuation trends with my clients, while also leading a differentiated and high-touch process.
Brian Garfield
Managing Director & Head of U.S. Portfolio Valuations
New York
It’s extremely rewarding to work in one of the largest and most diverse global business sectors helping support clients to realize their goals.
Matthew Lee
Managing Director, Head of UK & Co-head of Healthcare, Europe
London
I am driven by the opportunity to provide accurate and thoughtful valuation services that help clients succeed and grow.
Patricia Luscombe
Managing Director & Co-head of Valuations & Opinions
Chicago
As a trusted advisor, my role is to listen, create options and pursue the path that best achieves a client’s total objectives.
Saurin Mehta
Managing Director & Co-head of Business Services
Chicago
Communication and critical thinking are paramount to meeting the needs of my clients both today and in their future.
Richard Olson
Managing Director & Head of Valuations, Europe
London
My goal is to bring the best of Lincoln to each and every transaction, ensuring the topmost outcomes for our clients.
Roderick O’Neill
Managing Director & Co-head of Healthcare
New York
I strive to deliver value-added advice, leveraging deep industry knowledge and extensive industry relationships.
Guillaume Suizdak
Managing Director & Co-head of Industrials, Europe
Paris
I strive to develop meaningful, trusting, personal and mutually beneficial relationships with our clients.
Curt Tatham
Managing Director & Co-head of FSG
Chicago
With a commitment to building lasting relationships, I take a bespoke approach to the individual needs of every client I work with, seeking to be their champion, trusted advisor and partner well before, leading up to and throughout any potential transaction that may take place.
Ashleigh Barker
Director
Los Angeles
Meet our Senior Team
I am a rigorous advocate for my clients with a hands-on, communicative approach, focused on delivering intense advocacy and outlier results.
Sean Bennis
Managing Director & Co-head of Industrials
Chicago
I am enthusiastic about creating sustainable growth and the highest value for our clients and strive to leave a positive footprint beyond any successful M&A transaction.
Friedrich Bieselt
Managing Director & Head of Business Services, Europe
Frankfurt
I enjoy leading clients and realizing their objectives, while structuring solutions to issues that are both intriguing and challenging.
Øyvind Bjordal
Managing Director | Head of Switzerland
Zurich
Recent Perspectives
Lincoln’s Latest
Lincoln’s Latest video series features experts from across industries, services and geographies, sharing perspectives on current trends, recent observations and future outlooks.
Lincoln International expands Private Funds Advisory Group into Europe
Jonathan Graham appointed as Managing Director to lead efforts from London Lincoln International, a global investment banking advisory firm, announced that it has expanded its Private Funds Advisory (PFA) capabilities into… Read More
Jonathan Graham
As the Head of Lincoln’s Private Funds Advisory Group in Europe, Jonathan advises on structuring, raising and distributing capital for asset-focused GP-led secondaries, co-investments and primary funds. Harnessing his more… Read More
The Rising Popularity of NAV Loans
The current economic environment has called for partial liquidity alternatives that provide value for private equity firms and other fund managers. One of those alternatives, the net asset value (NAV)… Read More
2023 Global Results
Partial Liquidity Alternatives for Private Equity: An Attractive Option to a Full Exit
Private equity is facing a challenging operating environment. The convergence of inflation, rising interest rates and a host of other economic challenges have compressed equity values and limited full exits… Read More
Dan DiSalvio
Dan is a senior member of Lincoln’s Private Funds Advisory Group. He advises on the structuring, raising and distribution of capital for asset-focused general partner-led secondaries, co-investments and primary funds.… Read More
2022 Global Results
In 2022, Lincoln International continued to design and deliver meaningful solutions and outcomes for clients around the world. Our shared ambition for results achieved through collaboration, thoughtfulness and tailored approaches… Read More
The Evolution of Value Creation for PE Portfolio Companies
Why companies are staying private longer and how they’re evaluating their options How have companies’ timelines to exit evolved in the last two decades? For private companies and their investors,… Read More
Alexandra Forestier
Alex advises private equity clients on the full spectrum of limited partner equity-related transactions as a senior member of Lincoln’s Private Funds Advisory practice. She focuses on blindpool fundraises, capital… Read More
Bryan Sweeney
Bryan is a senior member of Lincoln’s Private Funds Advisory Group. He advises sponsors across all segments of private markets on fundraising solutions, including primary fundraisings, general partner-led secondaries and… Read More
Nikkei Financial | Growth of Private Equity Through Continuation Funds
Originally published by Nikkei Financial on April 19, 2022. Stephen Carre and Dan Posternak discuss the growth of private equity through continuation funds with Nikkei Financial. Click here to view the… Read More
Let’s Stay Together: Why PE Firms Are Committing to the Long-Haul Via Continuation Funds
Throughout the past several years continuation funds have grown in popularity for allowing private equity firms to extend their investment time horizons. In an industry known for extracting value during… Read More
Nathan Greene
Nate is a Director in Lincoln’s Private Funds Advisory practice. He works with clients across all private markets sectors advising sponsors on raising capital and managing investor relationships across the… Read More
David Reese
David is a senior member of Lincoln’s Private Funds Advisory practice. David partners with private investment firms to create, structure and raise single asset investment vehicles, continuation funds, primary funds… Read More
Private Funds Advisory: Partners in Exploring Possibility
As private equity general partners evolve their strategy and develop new, bespoke structures to secure a return in today’s market, Lincoln International has brought on industry leaders Steve Carre and… Read More
Private Equity International | Lincoln International Aims for New Segment in Private Fund Advisory
Originally published by Private Equity International on February 9, 2022. A recent feature in Private Equity International highlights Lincoln’s newest service, Private Funds Advisory. Click here to view the full article.
Lincoln International Launches Private Funds Advisory
Lincoln International, a leading global investment banking advisory firm, today announced the launch of a new offering, Private Funds Advisory. The new group will advise and partner with private equity… Read More
Dan Posternak
Dan is Managing Director and co-head of Lincoln’s Private Funds Advisory Group in the U.S. Dan advises independent sponsors, private equity funds and sponsor-backed portfolio companies on all of their… Read More
Stephen Carre
Steve is Managing Director and co-head of Lincoln’s Private Funds Advisory Group in the U.S. Steve partners with private equity and private credit firms to create, structure and raise single… Read More
Career Path Options for Prospective Investment Bankers
If you are seeking an opportunity in a fast-paced environment where you can learn a wide variety of skills and advise clients on mergers and acquisitions as well as raising… Read More