Industrial M&A Update

2Q 2021

RESOURCE HIGHLIGHTS

  • Deal volume in the Industrial sector continued its upward momentum in Q2 2021 at 384 deals. YTD volume through 1H 2021 is up 102% to 791 completed transactions from 392 deals in the same period of the prior year.
  • Despite of the increase in deal volume, total capital invested in the Industrial sector declined from prior year levels as the mix shifted to a larger % of smaller deals compared to prior year.
  • Through 1H 2021, PE investors contributed 41.5% of total capital invested compared to 58.5% for strategic buyers in the Industrial sector.
  • The $3.1 billion public-to-private LBO on May 25, 2021 of Cubic Corp by Veritas Capital, Evergreen Coast Capital Corp and Elliott Management represented the largest completed transaction this quarter.
  • Valuation multiples on M&A transactions have trended higher in Q2 2021 from prior year levels.
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