Investec M&A Tracker records €1.3bn worth of deals in first quarter

Report notes total of nine ‘in-market’ transactions involving domestic buyouts

The buyout by Boyle Sports of JP Bookmakers was one of the nine so-called “in-market” transactions noted by Investec.

The buyout by Boyle Sports of JP Bookmakers was one of the nine so-called “in-market” transactions noted by Investec.

 

The Investec M&A Tracker index for the first three months of the year recorded an increase in the number of mergers and acquisitions, compared with the previous three months.

The index recorded 58 deals between January and March, compared with 52 transactions from October to November. The value of transactions in the first quarter totalled €1.3 billion, including the €404 million acquisition of telephony firm Blueface by Star2Star, and Total Produce’s €243 million deal for a stake in Dole.

The report noted a total of nine so-called in-market transactions, involving domestic buyouts, including Spar owner BWG’s acquisition of 4 Acres Wholesale, the buyout by Boyle Sports of JP Bookmakers, and the Avtek Solutions deal for Eurotek Ireland.

“Deal value is below the average of the previous quarters since the first quarter of 2016,” said Investec.

“However, with strong corporate earnings and balance sheets and an abundance of capital as well as confidence in outlook, we believe 2018 will be another strong year for M&A activity, despite headwinds around Brexit and the potential rising cost of capital.”