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Irish private equity buyouts soar in 2019 as tech dominates M&A

Mergermarket, the leading provider of M&A data and intelligence, has released new data finding that Irish private equity buyouts stand at their second highest YTD volume on Mergermarket record, with 21 deals worth EUR 1.9bn. Irish private equity buyouts have also accounted for 19.8% of M&A deals so far this year, the highest percentage since the financial crisis. 

  • Private equity buyouts on track to reach one of the highest annual figures on record
  • Irish private equity buyouts have accounted for 19.8% of M&A deals
  • Financial services in Ireland on course to have its most active year of M&A on record

Mergermarket, the leading provider of M&A data and intelligence, has released new data finding that Irish private equity buyouts stand at their second highest YTD volume on Mergermarket record, with 21 deals worth EUR 1.9bn. Irish private equity buyouts have also accounted for 19.8% of M&A deals so far this year, the highest percentage since the financial crisis. The data was announced ahead of Mergermarket’s Deal Drivers Ireland event held at the Shelbourne Hotel on 26th September at 12:30pm.

“In line with European trends, buyout activity continues to grow as private equity firms look to deploy the huge amounts of dry-powder available”, commented Jonathan Klonowski, Research Editor EMEA at Mergermarket.

In M&A, technology is the most active sector, with 21 deals in the year so far, just one short of 2018’s full year total of 22 deals. This year is on course to be one of the most active for Irish tech on Mergermarket record by deal count, approaching the record 28 deals in 2015. The largest tech deal in 2019 to date was the EUR 447m investment by US private equity firms Insight Venture Partners and TPG Capital into Irish IT management software firm Kaseya.

Financial services has remained active so far this year with 17 deals, one more than YTD 2018. The sector is also on track to have its most active year on Mergermarket record by deal count. The previous record was 22 deals in both 2011 and 2017. The largest financial services M&A deal this year saw US investment firm Avenue capital Group invest EUR 250m into alternative lender, Castlehaven Finance.

“In the M&A market, some of the trends we are seeing include sellers looking to derisk or diversify and PE looking to exit successful investments. There is also a trend towards sellers being prepared to execute highly strategic and transformational deals as opportunities present themselves,” said David Widger, Partner and Head of Corporate at A&L Goodbody.

Paul Tuite, PwC Ireland Deals Leader, said: “As dealmakers are coming under increasing pressure to deliver more value from their M&A activity, companies that establish rigorous criteria for value creation early on in the buying or selling process are best positioned to maximise the returns from the transaction.”

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