IMAP released its 2018 results today, announcing an increase in deals closed over the previous year, having closed 208 deals in 2018 worth over $10bn. Average disclosed deal value came in at $62.2 million, as IMAP continues to strengthen its mid-market credentials.
In 2018, Technology and Industrials accounted for over 40% of IMAP’s total deal volume. With the acquisition of technology related targets or assets by companies in non-tech sectors a major trend in 2018, it’s not surprising that Technology and Healthcare attracted the highest deal multiples, with IMAP expecting both sectors to remain frontrunners in terms of valuations in 2019.
Nearly a third of IMAP’s transactions in 2018 were cross-border and approximately 40% of its deals involved a target company in Western Europe and 30% in North America. Significant deal activity was also registered in Scandinavia, as well as Central and Eastern Europe. Unsurprisingly, due to political transitions and market uncertainty, deal activity in Latin America was somewhat weak, though a rebound is expected in 2019.
In 2018, significant advancements were made in IMAP’s ongoing growth strategy, with the announcement of three key new partners. Early in the year, IMAP’s US partner Capstone, acquired Headwaters MB, making the combined Capstone Headwaters one of the largest independent mid-market M&A investment banks in the US. IMAP later welcomed Verdant Capital, based in South Africa and with offices in Johannesburg, Accra, Kinshasa and Mauritius, which brings IMAP’s number of offices in Africa to eight. At the end of 2018, Degroof Petercam Investment Banking (DPIB) entered into a strategic partnership with IMAP and starting January 2019, is IMAP’s exclusive corporate finance partner for M&A activities in Belgium and France.
IMAP Chairman, Jurgis Oniunas, said: “Despite growing concerns regarding slowing global M&A activity in 2019, IMAP remains positive. We will continue to fulfill our mission to find innovative and profitable solutions for our clients, delivering superior advisory expertise and global reach.”
IMAP closed 140 M&A deals worth more than $5.2bn in the first three quarters of 2019. Consistent with IMAP’s track record, 29% of the deals were cross-border.
More than 50 Analysts & Associates coming from 20 countries and 3 continents met on September 20th in Budapest, Hungary.