Industrial M&A Update

4Q 2020

RESOURCE HIGHLIGHTS

  • M&A deal volume in Q4 2020 was up significantly (56%) from Q3 2020 with a total of 308 completed transactions
  • Despite the 56% uptick in Q4, overall deal volume in 2020 declined 54% from 2019
  • Large transactions ($1B+) increased 12% in 2020 while total capital invested for all deals disclosed decreased 10% from 2019
  • Strategic buyers were more active than PE investors in the industrials sector in 2020 in both deal volume and total capital invested
  • The $10.8 billion investment in Apollo Tyres (BOM: 500877) by Emerald Sage Investment represented the largest completed deal in Q4
  • Valuation multiples on M&A transactions have trended higher in 2020 vs 2019 in spite of the pandemic
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