Easy A’s, Killer B’s and Tricky Seas

Easy A’s, Killer B’s and Tricky Seas

By Andy Greenberg, CEO GF Data® GF Data’s recently released year-end report (Easy A’s and Killer B’s) theorized that a value environment remaining steady at unprecedentedly high levels is actually more complex than the surface suggests – that there are competing cross-currents beneath the unchanging water line.  We thought it would be interesting to see […]

Easy A’s and Killer B’s

Easy A’s and Killer B’s

Headlined by a near-record valuation mark of 7.8x Trailing Twelve Months (TTM) Adjusted EBITDA, completed deal activity in the fourth quarter of 2018 showed that there is plenty of “oomph” remaining in this extended seller’s market, according to GF Data’s just-released February report. Valuations averaged 7.2x for all of 2018, essentially in line with 7.3x […]

Go Froth and Prosper?

Go Froth and Prosper?

Middle market deal valuations continued to show signs of plateauing in the third quarter of 2018, according to GF Data’s just-released November report. Two hundred private equity groups and other deal sponsors reported to the data tracking firm on 63 transactions completed in the $10 million to $250 million Total Enterprise Value (TEV) range, with […]

Honey, We Shrunk the Volume

Honey, We Shrunk the Volume

Valuations and debt levels remained aloft in the second quarter of 2018, according to GF Data’s just-released August report.   At the same time, the data tracking firm saw a drop in completed deal volume that defies the general sense of an enduring red-hot market. Two hundred and six private equity groups and other deal sponsors […]

TriTech Switches Sponsors

TriTech Switches Sponsors

Bain Capital Private Equity has agreed to acquire TriTech Software Systems, a provider of public safety software programs, from Insight Venture Partners. TriTech’s cloud-based software suite, marketed under the Inform, Zuercher, IMC, Impact, Respond, and CrimeMapping brand names, is active with every facet within the public safety incident-response sector, including 911 notification, computer-aided dispatch, field-based reporting, […]

The Seller’s Market Continues

The Seller’s Market Continues

High valuations and abundant use of debt continued to mark completed deal activity in the first quarter of 2018, according to GF Data’s just-released May report. Two hundred and eight private equity groups and other deal sponsors reported to GF Data on 52 transactions completed in the $10 million to $250 million Total Enterprise Value […]

Indemnification Caps Fall

Indemnification Caps Fall

Indemnification caps on private equity sponsored transactions valued from $10 million to $250 million fell from 15.9% to 12.1% according to the GF Data® Spring 2018 Key Deal Terms Report. The decline occurred in all deal sizes but was most pronounced in the $50 million to $250 million space where GF Data’s private equity contributors […]

“The Exciting Game Without Any Rules”

“The Exciting Game Without Any Rules”

Valuations on middle-market private M&A transactions continued their torrid upward surge in the fourth quarter, according to GF Data’s just released February report. The 201 private equity funds and other deal sponsors that are active contributors to GF Data® reported on 68 completed transactions in the quarter, with an average valuation mark of 8.1x. This […]

The Return of the Megafunds

The Return of the Megafunds

McKinsey & Company has published its 2018 annual review of private markets that confirms global fundraising and assets under management (AUM) reached record highs in 2017, while managers once again faced mild difficulties to deploy capital, as deal count fell, multiples went up, and dry powder increased for its ninth consecutive year. The report, called […]

Getting High

Getting High

By Andy Greenberg, CEO GF Data – GF Data has recorded average valuations on private middle-market transaction surging into record territory over the course of this year, yet we continue to hear from subscribers and other deal professionals that these unprecedented multiples seem low in comparison to their own market experience. It seems like a […]

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