The number of takeovers by UK acquirers of continental European businesses fell 30 per cent from 488 in 2019 to 342 in 2020 as Brexit and Covid-19 hampered deal activity, shows new research from Accuracy, the global independent financial and strategic consulting firm.
In comparison, the overall number of deals targeting continental European companies fell by 27 per cent from 6,665 to 4,843 over the same period. The number of acquisitions by US businesses in continental Europe declined by 25 per cent in the same period.
However, Accuracy’s research also shows takeovers in Europe by UK private equity funds held up better than those by UK corporates as a whole. The proportion of takeovers by UK-based PE houses increased from 43 per cent in 2019 to 47 per cent in 2020. The number of deals by UK PE funds fell by a smaller 23 per cent from 209 in 2019 to 160 in 2020. The financial firepower that PE funds have at their disposal has allowed them to move forward with acquisitions when corporate acquirers have been more reluctant to.
Read more at: Private Equity Wire
