City A.M. | UK Acquisition Deals Fall to Pandemic Low as Foreign Eyes Turn Away from London
Jun 2024
Originally posted by City A.M. on June 4, 2024.
UK M&A fell to its lowest in March since 2020, with foreign firms’ purchases of British businesses nearly halving over Q2.
“We are now seeing a broader range of companies being able to be sold – in some cases with strong multiples,” Richard Olson, Managing Director in Lincoln’s Valuations & Opinions Group, commented.
Richard noted that the predictability of debt availability is increasing, focusing on interest coverage to ascertain borrowing capacity from credit funds and banks, with the scarcity of new deals creating competition for private credit spreads.
“There is considerable pent-up demand to get deals done – private equity needs to sell companies to generate liquidity for limited partners, and there is a historically high volume of private capital dry power ready to be deployed in these transactions,” Richard added.
Summary
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Lincoln International’s Richard Olson dives into the slower UK M&A market, noting opportunities for growth.
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