Industrial M&A Update

1Q 2020

RESOURCE HIGHLIGHTS

  • The S&P Global Industrial Sector Index dropped 28.3% in Q1 2020, primarily due to the impact from COVID-19
  • The first quarter of 2020 saw the fewest number of deals closed in the first three months since 2005
  • Total capital invested was up 40% from Q1 2019 as there were more large $1B EV tranche transactions in Q1 2020
  • Strategic buyers were more active than PE investors in both deal volume and total capital invested in Q1 2020
  • The $5.2 billion takeover of Cobham by Advent International represented the largest deal in Q1
  • Valuation multiples for PE transactions went up while valuations for strategic M&A continued to slide down

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