Our partnering company in France, Epsilon Research has issued its Q3 2017 Argos Mid Market Index. The Index measures the level of private mid-market company valuations in the euro zone. The Index has increased to 9.5x EBITDA to reach another record level. Complete study : Argos-Index-2017-Q3
Category: Mergers & Adquisitions
PMI Strategy: Preservation, Symbiosis, Holding, Absorption
PMI Strategy, the acronym for Post Merger Integration Strategy, is one of the most difficult conundrum for buyers of companies. Indeed, there is enough evidence in the literature showing that acquiring companies actually destroys value. Then, why not challenge buyers on their real reasons for engaging in an acquisition process? Note that I am not...
Private Equity in a Changing World – key takeaways from XVIII ASCRI congress 2017
Private Equity in a changing world For those who did not have a chance to attend the XVIII ASCRI Congress about Private Equity in a changing world, I have summarised in this post my personal intakes. Risk Capital is rebranded Growth Capital The Association rebranded itself “Asociación Española de Capital Crecimiento e Inversiones” to avoid...
Leveraged recapitalization
One of our VC-A Members raised recently €270 million to provide debt solutions to the mid-market in Europe. Although his alternative source of funding claims to be more flexible that most lenders and is offering leveraged recapitalization, I suspect that he is looking for interests rates in the 7-8% range, which is currently much higher...