REUTERS / Kai Pfaffenbach MID-MARKET M&A REVIEW · ** Fee exposure indicates each firm's mid-market...

MID-MARKET M&A REVIEW FINANCIAL ADVISORS First Quarter 2017

REUTERS / Kai Pfaffenbach

krizvi

Clairfield

* Source: Thomson Reuters

** Fee exposure indicates each firm's mid-market fees from deals valued at up to US$500m as a percentage of its overall M&A fees in the relevant region.† Imputed Fees shown are based on completed deal activity, whereas deal count & rank values are compiled based on announced deal activity.

Visit http://dmi.thomsonreuters.com to View Archives and Order Custom League Tables

Jan 1 - Mar 31Worldwide Mid-Market M&A up to US$500m by Target Nation Region

29.975.7

100.016.0

100.075.115.583.7

19.620.0

21.091.7

Deutsche Bank

2133* 17*

Bank of America Merrill Lynch

Industry Total 10,568

94.3100.0

28-11

31*

41*

Macquarie Group

▼

10

-

Haitong Securities Co Ltd

Gram CapitalJefferies LLC

TD Securities Inc 39*15

177*2

▲349.3-62.1-30.3

-

33*

33*

33

Robert W Baird & Co Inc

46*46*46*

GCA Corp

48*

48*

▼

2,023.3

100.021.1

-3

2,671.1 4

▼-49.4▼Houlihan Lokey

1,501.7

15* 39*

15*

▼ 2,553.5

5.317

55.61

▼▼

594.9▼ 2,567.6

35 -17

24* 210.8

-10-1

11*

20* 29* 21

▼

Evercore Partners

-

Mizuho Financial Group

▼ 1,812.42614

▼

10.2▲ 63.7

-27.7

69.027

88.7

59.1

21-

112.312

36

-50

0 -

18

Ernst & Young LLP 15*

22* ▲25.7 35

26* ▲52*

2,623.8 5▼

Daiwa Securities Group Inc

26*Moelis & Co

33

43 -2

▲

Nomura

Generational Equity-20.7

18

15Barclays

-58.9

-10

UBS 24*

19RBC Capital Markets

19

767.1

-33.5

26 ▲6

Oaklins (FKA M&A Intl Inc)

Piper Jaffray Cos

30.034*

20*

Globalscope

231,915.3

-34

40.123

34*

▲ 46*85*

▼

22

51.51 ▲ 2,335.6 -46.3▼▼

35.6

▼

12 ▲

118.6 -

-9 19

-5.0

-1 ▼12 712

-7 ▼12

43.17.66.8

27.3

20

15

15

▼

▼

2

40.1▼

25.1

3.2-42.0-34.6

-7

42.9▲-

▲

41.6

14.9

▼274.8

-2

-

7.1

2.3 143*

100.012.5

158* 18.9

39 100.0

52.7

213*12

46.1

57

1.154.2

-

1,726.4

▼

26*17

16

889.927*

33* 23

31*

201,633.7

41* -13.3-35.8

1,746.4

13

6

169

https://www.thomsonone.com

▼

2815

15.7

780.0

Source: Thomson Reuters

405.9

Worldwide Estimated Mid-Market Investment Banking Fees by Quarter*

- 137.1 ▲11.0 - 1275.0▲

15

5

Sumitomo Mitsui Finl Grp Inc

-44.3

173.3

▼

*tie

11

259.1

56*

Clairfield International

Grant ThorntonBNP Paribas SA

▼41*

▲

13

0.0 - -100.0 ▼

100.04.5 91* 100.019.4 27 100.0

Duff & Phelps 33*

▲

19*

1,169.3

1,243.3

-1 ▼

▼-

21-30.1

114.7 -▼-744*

19*13*

12.6

3,819.5

58.4

172.5

First Quarter 2017 │ Mid-Market M&A Up To US$500m │ Financial Advisors

Worldwide Mid-Market Rankings (MM1)

5 ▲ 3,226.3 2

ING 22*

▼

▼

-40.0

13.8

▼34*

1,983.7▼

-23.0-95.3

56*

-33*

39*

13.2

24.7

-50.670.7

18▼

27*

-16

▲

-

93*

37.7

2,072.1

100.037.4

84.6100.0

8.8

22.7

45.5

2418

▼

19.3 16.0

441.9

35.9

32

59

▼

221,652.2 1337*

▲

▲

▼

▼

100.0

100.0109*

100.025

68.6

84.2

213*64*

100.0

▼19

34*

1,792.013 ▼18

-96.3

56.7

▼

25.8▼-16

30.2▼

▼14

▼

65.6

13

7

53.8

91.4

96.880.839.425.6

85.7

1,935.7

Credit Suisse 10*

22▼

▲

4

15.016.921.3

52.1

826

140.3# of Deals

3

9 55

IMAP

31.9

392.8 -14

▲29*

8 10

▼

8

72.8

5 19*KPMG 4 1

12

2,312.0

▲

CitiJP Morgan

3

6

▲

174

1077

371,036.1

▲

-32.1

15*

27.5-

11* 143.81,993.4

916 ▲

53

2016

84.9-44

0 -45

38.987.7

▲

▼1,326.32

2017

US$m

4,395.8

41

-12▼

▼

411.2 -43

▼

Jan 1 - Mar 31

Exp (%)

** FeeChange in

Raymond James Financial Inc▼

Deloitte 17 5 25 -32

▼

▼

41*41*46*

39*

-

27.5 ▲Somerley

-11

▼

-6 1,725.5▼-1315

15

3

20▼

▼

-6

-2

1829*

-4

24*

1,832.5 16

28

-19

20

-

▼

13

-1

14

13 6 ▲

7 -58.9

17Global M&A 29*

▲65.9-3Stifel/KBW

8 33

12*

9

▲-65.4

Rank

43.87 13*

MM1 - Undisclosed Values & Values up to US$500m

# of Deals per Advisor

Rank

49 -73

1Financial Advisor

Rothschild & CoDeals

6

-10.957 -47.8

Rank

3 ▼

PricewaterhouseCoopers 3 2

Goldman Sachs & Co

2,740.9Change (%)

Advisor 2017

Imputed Fees (US$m) †

1Fees Rank

Rank Value per Advisor (US$m)

Rank Value Rank Value2016

20.9

13.3

8.13

58 -73.5-33.8

-11

1Lazard 251

10*

51

6

24

Morgan Stanley-78.6

54

# of

8.7

-9.226 ▼▲

554.0

39*24*56*120*106*

-677

Alantra Partners SALincoln InternationalPlutus Consulting Co LtdKaede GroupCapitalmind

2.0-15

▲

2314

▲

56* 73*5.8

11

-

16

72.4

1,305.2 25

33

12*

2054.9

6

-50.8 ▼588.2 - -22.8 ▼

3.4 107*

3

52.4

1.1

$0 $50 $100 $150 $200 $250

2010

2011

2012

2013

2014

2015

2016

2017 Rank Value (US$b)

Africa/Middle East Americas Asia-Pacific Europe Japan

0%

10%

20%

30%

40%

50%

60%

70%

$0

$1

$2

$3

$4

$5

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

2010 2011 2012 2013 2014 2015 2016 2017

Perc

enta

ge o

f Tot

al F

ees

Inve

stm

ent B

anki

ng F

ees

(US

$b)

Mid-Market I.B. Fees ($500mil or less) % of Total Fees

2

krizvi

Stamp

krizvi

Highlight


Latin America Involvement Mid-Market Rankings (MM17)

*tie

Source: Thomson Reuters** Fee exposure indicates each firm's mid-market fees from deals valued at up to US$500m as a percentage of its overall M&A fees in the relevant region.† Imputed Fees shown are based on completed deal activity, whereas deal count & rank values are compiled based on announced deal activity.


100.0Artica Participacoes e Assesso 22* 4* 1 -3 ▼ 0.0 29* - - 1.0 18 100.0Goldman Sachs & Co 22* 23* 1 0 - 0.0 29*

Scotiabank

41.7

-

0

15-

2017

-77.95

-

0.04

-

-50.0

▲

13

▲

21*

Deals

3

Banco Votorantim

22*

▼- - 9.3 18

2

Rank

169.1

100.0

-

-

▲

Change in

-

22*

2

5

Barclays

Change (%)

2

19

--

11*

230.0 12 -

100.0

-

--

- 01

-

2

21.4100.0

- -

Advisor

3.5

-.2

-

100.0

21*

47.4

2017

-

-

100.0

--

27.4100.0

Latin America Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31

37.7

2.4

-

-

192.0


Rank Value2017 Rank Value# of

2.7

2

266.0

US$m

-

17*

466.215101.0

2

4*3

KPMG 7*

▲

--

1

0

919.4

2*

-25

14

2

5

▼

23* 100.0

4*

11*

11*

3 - 8

32

2

251.5

-

-

Banco do Brasil SA

11*

▲

8*

20.0

1

Jan 1 - Mar 31

▼

6.48*

296.4

9

1016

UBS

01 1

365.1

-

8*

184.2 8*


162.21

2.0

Rank

4

Exp. (%)

** Fee

9.3

4

30.5

6,967.1 56.7

▲17*

▲11*

2

100.0

Industry Total 275 -33

1

100.0


57.1467.5

Fees

6.5

Latin America Mid-Market M&A up to US$500m by Rank Value Range

23*

- 1.0

13

-

4.0

100.0

- 555.9

7*

11*


10

-

7

23* 29*0

20*

-

-

5.6

6

▼

BR Partners

1

-1 ▼3

4PricewaterhouseCoopers 1


54.3

18 -0.3 18 100.0

-16.0

1.4

22*

22*

22* -

- 1.9 ▲

-

▼

-

-7

2

▲ 56.4

- 3.4-

-216


16*

-1

-0

JP Morgan26.5

-2 ▲Rabobank NV 2

-

6

4*

29*

-

Estater Gestao e Financas

0.0

11

14

-71.9

IMAP

2016

780.0

2

-

-▲

Credit Suisse

-84.7

--

-

-

▲292.9

▼

3

▲

▲

▲

# of Deals

-

11*56.4

-

Cormark Securities Inc

-7.6

2

23*

Lazard

Banco BTG Pactual SA-

-608.4

8* 2

2*

12

Financial Advisor

Itau Unibanco

-

Banco Bradesco SA

▼26.511* 517.9

Rank Rank

.1

-4BBVA

3

2

▼

3

4*

4

-

-

2

4*

1

7

11*

▲

4

10.7

11*

7* 0 -

-

8*

TD Securities Inc

Arab Banking Corporation

2 20*

-

Morgan Stanley

▲

-2

3

-2

3

-

7* 620.0

▼

4*

Santander

-

11*

2

Global M&A 22* 8* 1 -2 ▼VGL Finanas Corporativas

15.8

National Bank of Canada Fin'l

Stifel/KBW4.6 18

25.0 22 - -0.0 - - -21.7

-

▲

-

▲- 1 1 ▲

- 18 -

1 1 ▲1

22* - 1 1 ▲Rosenberg Partners Consultores 22* - 1 1 ▲ 23* - -

.2 18 100.0- 18

- 1.0 18 100.0Duff & Phelps

AlixPartners LLC 22* - 1 1 ▲ 15.8 - - - - 18 -Olimpia Partners 22* - 1 1 ▲ 21.7 23* - - .9 18 100.0HSBC Holdings PLC 22* - 1 1 ▲ 0.0 - - - - 18 -Clairfield International 22* 16* 1 -1 ▼ 0.0 29* - - .5 18 100.0Quarton International 22* - 1 1 ▲ 0.0 - -

22* - 1 1 ▲ 0.0 - - - .5 18 100.0

-

50

100

150

200

250

300

350

400

450

500

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

# of

Dea

ls

Ran

k Va

lue

(US

$b)

US$200 - 500m US$100 - 200m US$50 - 100m US$0 - 50m # of Deals

20.3%

20.2%

18.5%

17.1%

9.8%

5.3%

3.5% 2.8%

Materials

Industrials

Energy and Power

Consumer Staples

Real Estate

Media and Entertainment

Consumer Products and Services

Financials

Telecommunications

Healthcare

5

krizvi

Stamp

krizvi

Highlight


European Involvement Mid-Market Rankings (MM3)



Rank Exp. (%)

▲

1

3*

43*

-

527.0

38*

39*

826.0 39

51*Deutsche Bank

39*

▼

Industry Total

UniCredit

Investec

35

4

85*

-

-79.739* -

6

Credit Agricole CIB

Houlihan Lokey

-5

30*

▼

596.0-2

0.038*.9

66BDO

Jefferies LLC

Kon SpA

finnCap Ltd

Barclays 33* ▼-52.5

462.2

-7108.4

118.6-141 24

9

16

122*

13.1

0.0-44.7

48.3

Benchmark International 9

28*

** Fee

Deals

1

13

1

7

▲

-

39* 62*

7

17

European Mid-Market M&A up to US$500m by Target Industry

100.0

1902.6

.3

61.3


76.3

100.0184*

13.7

Jan 1 - Mar 31

935.013

40

1,056.6

12.0

25.9

10.1 9.4

-

-

European Mid-Market M&A up to US$500m by Rank Value Range

13

4.0

40.2

-97.4

100.0

26

2,037.1

-17.4

0.0

▼81.3

20172017

Goldman Sachs & Co 6 920

55

53.3

-26

28.7

52.3

▼

52.4▲

16

▲

▼

▲

-2.7

▲

27.1

Rabobank NV

Baker Tilly International

Macquarie Group

859.18

▼

13.2

▲ 8.2

17*

988.4 923.08

11.6

2

▼32.4

Change (%)

78.9

6

100.0

13.3

100.0

-5

▼

-

▼

▼

183

12.22.1

6 2 ▲ 636.2

0.0

19.7

▼

-37*

▼

1,012.5

-

▲60.0

Advisor

36

38.2

▼

13.4 1410.0

-

1030*

38*

100.0

75*

52.5

773.4

100.0100.0

15

10.2

294.3

▼0.0 -

-62.316.8

7

219.3

30.5

6.0

19.8

▲17

▲

29.4

44.3

30*

1,442.3

30.7

100.0

1,073.2

92*

5.0

64*

-247.639*

-926

*tie

56,267.4 52,739.1▼ ▼-0.6

-▲

▼

1,171.0

233.3

13.8

▲22

11*

3 ▲

-5

-32

29*11*

▼

30*11*▼

30*547

21.3

30*

-

7

▼

30*

39*

30*


Rank

7

▼

2.0

Clearwater International

10

-16

27.3KBS Corporate Sales Ltd

5.7

-

▼

-1 ▼ 831.0

.8-75*

▲

-6

725*

-

14

47.6

18*JP Morgan-27.7-54.8

20

-12

▲4

1

-

9.470

-

7

20*

21*

▼

▲

10 11.915.3

15*

172.5

▼

▼1,274.7

-7

19

-

-30.6

9.0

24*

-7

8

52

20

-7

Morgan Stanley 8*

Rank Value per Advisor

Rank Value

▼-3

Credit Suisse

▼

5

11

33*

13

1

Grant Thornton

16*

▼

10

▲

100.011.6

8

15*

163.3

IMAP

100.0

-

2

25*17

-25

6.1

13.7

-13

1,347.6

6

1.1

PricewaterhouseCoopers

7.1

5.6

33 14

0.3

CapitalmindCiti

▼-93.0

41.2 ▲

Euro mil

2,177.0

18.2

▼

38* 12

8KPMG

9

▼

2016


1,342.3

--6

133.9

9

16

10*

138*

▲ 199.3

▲

▼6.8

100.0

1,451.5 1,348.4

12

Jan 1 - Mar 31

15 100.0

1,240.4▼

10

▲381.17

1▼

22


Fees


US$m

-15

2

Societe Generale

▲

Rank

Evercore Partners

18*

3*

3

18

110.0

14

100.0527.6

1,255.0

▼

9

▲

4

626.2

-63.3

12.1

16* 57*▼

5

Deloitte

35 7

33.2

Globalscope10*

874.5

28.6

5

973.9

100.0

19.5

12.6

909.4

100.0

Lazard

12.523.166.2

38*

1,563.4

8.1

7

-

1,456.2

15.7

▲

100.0-90.8

100.0

21667.521*

60.8

-

100.0

10

9

6

-

1.5

47.6

Ernst & Young LLP


-▼

ING

Alantra Partners SA

▼

-

▲

112.3 80.7

1,434.0100.0

Global M&A

▼

100.0

▲

15

RSM Corporate Fin LLP

821*

24*

28*

3,528.7

990.9

13.0

-

0.0

4

311BNP Paribas SA

0.0

100.040.9

109*

27

0.0

17▲

16

25

4

73.1

120.1

7

▲

-6

20*

24*

24*

7.1

0.0737.3

▼

38*

13.8

112.0

30.5110.6

-197

-1,197.0

▼

796.2

▲-7-5 19

▲118.457*

18

3.7

39.2

-94.7

-

786.0

28* 17*

6

278.1

279.3 265.5 ▲32.6

20*

-620*

10

11*

15 14

▼

2

-1

3,291.5

1,107.0

-2

▲



# of Change in

Rank

35-65.4

-10

UBS

# of Deals

2 47 -38.138

27.8403.8

2017

Liberum Capital

124.4

-

1278.1

Rank Value

10*

-49.0

▼

▲

-

7 126.9

1.2

10

Rothschild & Co

-2 ▼

8*

Financial Advisor

-7.116

-60

48.9

1,188.8

▼ 100.031*

14.8

29*3.612.8

▼126*

-28.8

11*

6

30*

778.92.9

8.0

-

-

44.3

-9

▼

3,609

30*

30*

242*

▼63.7

Jones Lang LaSalle Inc

-

1,000

2,000

3,000

4,000

5,000

6,000

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

# of

Dea

ls

Ran

k Va

lue

(US

$b)


16.6%

13.7%

11.5%

10.2% 9.5%

9.0%

7.8%

7.7%

4.7%

4.6%

3.5% Real Estate

Industrials

Financials


High Technology

Energy and Power

Consumer Staples


Healthcare

Materials

Retail

Telecommunications

6

krizvi

Stamp

krizvi

Highlight


French Involvement Mid-Market Rankings (MM5)



Business Development Asia LLC 23* 63* 2 1 ▲ 199.2

Trianon Finance

Industry Total

Sycomore Corporate Finance SAS 23* 63* 2 1 ▲ 0.0

JP Morgan 23* 16* 2 -2 ▼ 0.0Barclays 23* 27* 2 -1 ▼ 405.8

Drake Star Partners

IMAP

-

Grant Thornton 23*


5.254.4

Goldman Sachs & Co

2

14*

-12

ING

Banque Degroof Petercam SA

▲

63*Adviso Partners SAS

3

2

▼Societe Generale

3

27*

Invest Corporate Finance SAS

-72.5

-

100.012* 100.0

- - - 1.5 46* 100.0

3.2

# of

3

-

Euro mil

14*

23*

3

18

-4

▲4

223* -2

103*

69.5

3.0

▲

86*


-0.0

6.33.0

- - - 0.2 115*

236.3 53*

8*

8*

42*

2 0.0

3

192.6

16

Rank

- 2 2 ▲ 0.0

0.0 - - - - -

63*

0.0185.0

23* -

2▲ 0.8

16*

0.0

2

8*

0.0

9

KPMG

MBA Capital SARL

Credit Agricole CIBLazard

Financiere Cambon

Clipperton Finance SARL

Eurohold SLGlobal M&AUBS

2 2 ▲ 0.0 0.0

Natixis 23* 4* 2 -11 ▼ 0.0

544

23*

- -▼

47.9

-

0.0 48* - - 8.6 6 61.9384.5 6 - - 2.5 25*

2

32*

10*

2

--223*

1

19*

10.7

23* -

4.0

23*

4

0.0

16

2

107.4

▲ 254.3

▲

-

5

34*

▼

23

Rothschild & Co

6*

▲

▼

Macquarie Group

-

25*

▼

0.0 3.1

4 ▲▼

14*

3

11.0

64.0

8

-

4

▲

8*

-3

▼

French Mid-Market M&A up to US$500m by Rank Value Range

Advisor

148.5

36*

▼

▼

76

-

9252.9

1

.7

▼

-77.4

31

** Fee

497.2Fees

2016

2*

20172017 Rank Value

14*

63*

112.0

-4

▼

4

51.6

-18

Rank Value2017

12*

-6

-5▲

0.5

2

6,956.5 -28.0▼

11.4

Jan 1 - Mar 31

15.65

Exp. (%)Change (%)

-

48*

▼

▲

4*▼

71.0 66.0


Citi

▲ 100.0-94.8

100.0

-

100.0

108* 100.0

100.0

100.0100.0

18.1

-

-

2

16*

3

Capitalmind

Deloitte

2

- -

French Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31

8*8*

16.4

*tie

CBRE Holding SAS

-

19.9▼

265.0

100.0

▼7,421.0

2 ▲ 0.0 0.0 - - - 2.0 34* 100.0Edmond de Rothschild Hldg SA 23* 12* 2 -5

100.0

153

-

51.4 -2.2

-

▲

-- 62.5 84*

Eurallia SARLCV 23*

22 -91.247.31,171.01,240.4

100.0

19*

17.0-

--

Accuracy SAS

352.7

-

DC Advisory 19



100.0

737.3

56.4

39*

▼

39*

15

16*

-1 ▼

19*

95*

-1

23*

90*

-

0.6

2.9 2.7

2

BNP Paribas SA

3

-

-

2.8

2.2

14*

1

7

0.0

3-49.1

-

159.0

0.0

0.0

17.4

▼

18.5

3.0

8*

-

Rank # of Deals

23

99.50.0

0.0

30*

▼

-5

-2

7

▼

14*14*

4.1

13.8

0.0

470.6

2.0

3

-6

Deals

16*9

48* - - 1.8 42*

51*

0 - 0.0

▲

-

2

▼

0.4

0.0

Financial Advisor


▼ 0.0


5.614*

27*-

▼12*

▼

0.0

- 3


16

Change in

-7

1

8*7

4.5

US$m

100.0

59.427.8

2

39*

16*

-122*

778.9


RankRank

3.7

8*

14*

3*

-86.4

100.0

- - 1.8

100.0

-

0.0

78.9

0.0 0.0

11.71.0

48*

3.4

4

8.955.2

▼-

68.9

100.0

2.5

▲

-2

4

118.4

0.03

583

30* -94.8

-3*

40.0

-

2

- -

-63.3 17-

25*▼2.5

100.018.9486.7 450.0

100.0-

32*25

2.4

- - -

-

-

1.1

-354

▲ 0.0

6.0

281.1

-

100.0

100.0

0.0 48* -

-

100.0

100.0

-

0.0

9.0

- 2- 2.5 25* 100.0

-

100

200

300

400

500

600

700

800

900

1,000

$0

$2

$4

$6

$8

$10

$12

$14

# of

Dea

ls

Ran

k Va

lue

(US$

b)


23.1%

16.9%

14.3%

12.6%

9.0%

7.9%

5.3%

4.4%

3.3% Industrials


High Technology

Real Estate

Consumer Staples

Energy and Power

Financials


Healthcare

Materials

Retail

8

krizvi

Stamp

krizvi

Highlight


German Involvement Mid-Market Rankings (MM6)



-4

Global M&A


22*Cushman & Wakefield Inc

Capitalmind

22* 2

*tie

German Mid-Market M&A up to US$500m by Rank Value Range

6608.4

# of Deals


2016

7,669.4

10*

2*

5*

-0.0

33

.7

-

17*-55.2

-

38

13-

5*

38*

2

-2

-

19*10*

▼

0

▼

41*

782.9

1,188.8

13*

# of

2.0

-

15

Euro mil

9.9

German Mid-Market M&A up to US$500m by Target Industry

.2

-

4.0

-

19*--

10*

334.6

0.0

0.0

-88.09* 13*

22*22* 38*

-

▲ 63.6 60.0119

-11

22

2017

-


0.0-

-UBS

Houlihan Lokey

MM Warburg-Brinckman Wirtz

ING

19*

-

-

9*

782.9

8*

8*

▲

Advisor


Change (%)

5

3*

11.3-

-

Rank

1551.1 1.1

Jan 1 - Mar 31

9*

9*

2.3

31*0.0

-2-

7.7

-

-

18*

Jan 1 - Mar 31

2

0.0 -

-

0.0

-

60.0

100.0

-2

100.0

▼

--

▲

.2

0.0

3.0

-

-

▲

8*

2

100.0

5

0.0-

2

3 ▲

2.6

Change in

-

-1.8

0.0

▼

87.8 82.0

60*

2

4-

100.0-

-

- 2

13.4

-

33

▼

381.8 -11.6

1,107.0

-

-

▼

-

1

-1-

-

2*

- - - - - -

▼

22*

9* 23*

Evercore Partners

Rank Deals

38*

7

4

3

10*

Globalscope

3

100.0

9*

-

100.0

60*

-

-0.0 - 6*

1

▲63.7

▲

Exp. (%)Fees

-100.0

3100.0

1

3--

16

3

405.9--

3*0.0

▲357.0

0.0

100.0

** Fee

5*

17*

-

205.7

579.95 539.2

Rank Value

1US$m

9* 3

Roedl & Partner

IMAP

Rothschild & CoDeutsche BankErnst & Young LLPFinancial Advisor

2

-

Stifel/KBW

-

-


ACXIT Capital PartnersClairfield International

KPMG

VR Corporate Finance GmbH

28.112.2

22*112.3

Rank

1Rank

10*

JP Morgan

-

0.0-

Commerzbank AG

22* 18*

0.0 - - -199.2 185.0 14*

--

4.0▼0.0

-2

▼

-

▲

-

0.0

3

5.195.2

▼

0.0

100.0

3.0

1.8 28 100.06.0 4

▲

20*

566.7

0.0

▲Barclays 22* - 2 2 ▲

- 2 2 46.0 24 - -405.9 381.8 8* - -

7,178.3

60*4.5.2

2 -1 ▼Ludwig & Co GmbH 22* - 2 2 ▲

- -

14-


34.9502Industry Total 189.8

▲

-59 ▼

7

9*

-

0.0

-

2.0

-

0.0

GCA Corp 22* - 2 2 ▲ 0.0 0.0

-

-2

2 ▲

213*0.0

6*

3 0.0

-2

10.1 9.4

4

-

LazardBusiness Development Asia LLCDeloitte

Quarton International

-

4

Rank Value

4.5

▼

2.3

--

14.4

▼▲

0.0

725.2

15.22.0

-

UniCredit

-2 -

38*

9* 18*

1

5* ▲

-

725.2

▲

2*

9*

101.1

2.5

2

9*

5*

23*

▼

3

23*

▲

9*

3

2*

23* 130

4

5

-

9* 10*

-

9.6- - -

48.6

725.2 2* - -

22* 5* 2 -4 ▼

Goldman Sachs & Co-

100.0

▼

-

-

3.00.0

---

▲

-

2017 2017

100.0

100.0100.0



3

Raymond James Financial Inc

22*

- -782.9 725.2 2* 116.2 ▲782.9

193.1

0.0

0

3 -1

17

100.0▲

3

.5-

100.00.0

100.0

0.0

2*

CorestarPartners GmbH 22* - 2 2 ▲ 0.0 0.0 - - - -Societe Generale 22* - 2 2 ▲ 0.0 0.0 - - - 2.8 45.2Alantra Partners SA 22* 38* 2 1 ▲ 0.0 0.0 - - - - - -

-

100

200

300

400

500

600

700

800

$0

$2

$4

$6

$8

$10

$12

# of

Dea

ls

Ran

k Va

lue

(US

$b)


30.2%

29.8%

13.9%

6.7%

5.2%

4.9%

3.4% 2.6%

Real Estate

Industrials


Healthcare

High Technology

Financials

Energy and Power

Retail

Telecommunications


Consumer Staples

9

krizvi

Stamp

krizvi

Highlight


Italian Involvement Mid-Market Rankings (MM7)

*tie



18*

1

Bank of America Merrill LynchGlobalscope

Banca IMI (Intesa Sanpaolo)

EnVent SpACascadia CapitalMittel SpA

Deutsche Bank

Societe Generale

Fineurop SpA

Kon SpA

Morgan StanleyKPMG

GBS Finanzas SA

MediobancaBain & Co

78.1

11*

0.0

-

110.0

- 0.5

46*

24*

5.0

-

13*

0

-24

-

2

Rank Value per Advisor# of Deals per Advisor

6

20*

578.1

0.0 20*

.7-4

1.0

-33.1 ▼

▲0

0.030.0

-6

.9

-

2016

1

Deals

-53.4

-0.0

-

0.0

12* 1

# of Deals Change (%)

-24*

1.0

100.0

▼

20*

18*

0.0

100.0

▲

100.0

100.0

-

100.0

-93.6

** Fee

17* -98.5 ▼

20*

1

81.30.0

20*

6

Euro mil

▼

18*

5

-

11

100.024*

6*5.9

-

-452

Alantra Partners SA

DVRCapital SpAArkios Italy SpA

27*2.0

-24*

-

1

31.8

▲

Lazard


1.0-

1.87*

3

7182.4

6.0

0.0

RankFees


100.0

Rank Value

100.0

0.0

2

8

▲18*

-

.2

1 ▲1 ▲

3*

1

--

▲

46*

100.0

4*-

-20*

0.0

20*

14*

100.0

8.2 7.5

4 -83.1

1

▼

-

▼

1 ▲

24*

27*

-0.0 20* -

Italian Mid-Market M&A up to US$500m by Rank Value Range

IMAPIMAP- Vitale & Co

Credito Emiliano

- -

30.0

BBVA 2.7

Nomura

1 1 ▲18*

1018*

20*0.0

0.0

100.0

9

20* - -0.5

- 1

1-1-5 ▼

-

7

--

-

1

1 3


-

150.018*

1.0 24*11.0


Jan 1 - Mar 31

-

Italian Mid-Market M&A up to US$500m by Target Industry

-

27* 1

100.0

-

4.1

100.0

2017Rank Value

6*

30.520*

38.8

27*

2

▼

100.0

1.0

-2 ▼

0.0

100.0

38*

0.0

83.5

-

-1 0

0.0

1

-

231

Credit Suisse

328.9

-

13*

3

4

27*

19

18*

5.6

-26

13*

0.0 -

-

▼

0.0

-

100.0

54

100.0

20*27*

1-

0.0

20*

-

▼

20*

100.0

8*2.0

3.2

13*

14*

4.0

20*

2

-18* 21*

-1-

1-

41*

0.0

- 0.0

10.0

1.7-

▼

1 118*

1100.0

-7

2.3

34*-67.5

6*-140

41*

▼

▲

12*

22

-28.4▼

Rank

▲

20.0

825.01

3*

-

▲

5

27*

5

8-

1.4UniCredit

Rothschild & Co


0.0

133.6

0.0

18* 21* 1

100.0

100.0

Hideal Partners

172.0

100.0

1.2

11

20*-

4*Financial Advisor

2017Change in

9Rank

1

140.0

2017

4,015.4

1.8

.3

12.4363.1

27*

6 --

13* ▲▲

▲

5.0

-

14▲

10-

18*18*

18*-


0.0

0.0▲

TranscapitalSantander 100.0

100.024* 100.0

0.9 34* 15.8

18*

--

10.0

2.1Global M&A

20*

-

0

100.0

-

-- -

-

- --

100.0

0.5▲

13

20*

▼

-

18*

-

27*

4

2

-

1

11*

20*

▼

3,763.4

-

87.2

-

40.5

-

-4

-

-

0.0

100.00.0

-3 12*

20*0.0 41*

18*

Exp. (%)

Jan 1 - Mar 31

1.0

18* - 1 1 ▲18*

20*

8.2 7.5 17*▼

0.0

0Industry Total

▼

7*

117.9

0.0

-

-

-

77.6

4

6

2

9*

1 -2 ▼ 0.0 0.0 20* - -

18*

0.0

1

66.6

18*

-

Ethica Corporate Finance SpA 18* 12* 1 -2 ▼ 0.0 0.0 20* - -

Translink Corporate Finance 18* - 1 1

Advisor

22

100.0

-▼6*

8*

Spada Partners

1▲

-1

0.0

1

0.2

100.0

1.0 24* 100.0CDI Global 18* - 1 1 ▲ 0.0 0.0 20* - - 1.0 24* 100.0Equita SIM SpA

GCA Corp 18* - 1 1 ▲Oaklins (FKA M&A Intl Inc) 18* - 1 1 ▲Robert W Baird & Co Inc 18* - 1 1 ▲VSL SpA 18*

-UBS 18* 21* 1 -1 ▼ 0.0 0.0 20* - - 0.9 34* 100.0

▲ 11.6 11.0 15 - - 0.2 46* 100.0

Kaleidos Srl 18* - 1 1 ▲JP Morgan 18* 21* 1 -1 ▼

0.0 0.0 20* - -0.0 0.0

18* 12*

77.0

0.0 0.0 20* - -


▼9*

0.00.0

2

US$m

# of

-

32.6

220*

▲ 0.0

3

▲

Rank

0.0

8*

-93.5

0.0 0.0

83.5

0.0

0.0

▲88.4 83.7

18*31.8 -95.9

-

12*

308.03*

Ernst & Young LLP

Unione di Banche Italiane Scpa-

21.6

-

1.0 24* 100.02.0 14* 100.0- - -- - -

0.4 44 100.05.6 3 100.0

- 1 1 ▲

298

20* - -0.0 0.0 20* - -9.6 8.9 16 - -67.3 62.4 9 - -

-

50

100

150

200

250

300

350

400

$0

$1

$2

$3

$4

$5

$6

$7

$8

# of

Dea

ls

Ran

k Va

lue

(US$

b)


25.8%

15.6%

15.0%

14.7%

7.0%

6.9%

5.9%

4.0%

3.7%

0.9%

Financials


High Technology

Real Estate

Industrials

Consumer Staples

Energy and Power

Retail

Materials

Healthcare

10

krizvi

Stamp

krizvi

Highlight


Nordic Involvement Mid-Market Rankings (MM9)



Jefferies LLC 14* 21* 2 0 - 200.0

Handelsbanken Capital MarketsCarnegie

Clairfield InternationalGlobalscope


*tie

2016

189.3 11* 281.0 ▲ 2.0 18* 100.0200.5 100.0-17.7 ▼

▲

Morgan Stanley

SEB

Danske Bank

Cushman & Wakefield Inc

311.0 191.1

US$m

-

450.4

7.1

8

5.5

186.6 10

9*

3.0

100.0- -

380.7

329.5 7-95.72

1

2-

1 ▲

-

-91.3

-

-8- 18.9

-12

1 15.4

6*

51*

13* 1

151.46,142.5

-13

24

16

38*

46*

Fees

Capitalmind

Financial Advisor

IMAP

76.1▲

--32.9

-

22▼

-2

454.7

▲

Change (%)

8* 29*

21*

▼

Jan 1 - Mar 31

0

13

5

106.62

28*

483.0

100.0

5.203.2

2121

1 2.3

3

Rank Value

▲121*

9*

117


4

-

▲

100.0

0 -

100.0

13* 1196*

▲1.5

59.9

100.03

Nordic Mid-Market M&A up to US$500m by Rank Value Range

3

285.920

334.4

--3.00

-

9

2.4

-29.0

100.0

3


-

Rank

-

100.22 30.6

100.03

2017

▲

386.0

0

▲

-100.0

4360.6

▲63.9

-

Rank

▼

13

** FeeChange in

14*

Jan 1 - Mar 31

-

4

-

47*

88.9

100.0

5

39.0

6

1.4

Euro mil

4 2.9

0

2

2017

0

- 9.0

11

8*

2▲

8* 21*

28*

Rank

46.2100.0

100.0

5

2.6 14

.114*

9* 1

-

5.0-

15*

2

-

0

9*

3Newsec Corporate Finance AB

13*

Rothschild & Co.2

KPMGPangea Property Partners AB

28.5

22127.5 119.023.8

▲22.3

-

2 6*


-45 53.6▲


Nordic Mid-Market M&A up to US$500m by Target Industry

Rank

2017 Rank Value

Industry Total 473

29*

20.1

5,746.3

▼

▼2.4 15* 100.02 0

▼

# of Deals

# of

▼

214* 29*

8*

1

▼

11.3

100.0

▲

3

3

Advisor

▲

14.4

-

Exp. (%)

0

2

3*

▲14*

8*

7

419.1


▲


Deals

2314*

100.00

▲

▲

Lazard

Citi

13*

ABG Sundal Collier

-

100

200

300

400

500

600

700

$0

$2

$4

$6

$8

$10

$12

$14

# of

Dea

ls

Ran

k Va

lue

(US

$b)


21.0%

13.2%

12.5%

12.3%

10.4%

8.2%

8.1%

7.0%

3.0% 2.5% Real Estate

High Technology

Industrials

Energy and Power

Financials

Materials

Retail

Consumer Staples

Healthcare



12

krizvi

Stamp

krizvi

Highlight


Eastern Europe Involvement Mid-Market Rankings (MM16)



China Merchants Securities Co 12* - 1 1 ▲ 118.2 110.0 8 - - - - -

JP Morgan

BNP Paribas SA14.5

Rank

6*

2016


*tie

SuperiaSEB

Deloitte

Global M&AKBC Group NVConcentro Management AGTaiga Capital

Danske BankBain & Co

Ernst & Young LLPKPMG

Rothschild & Co

Bank Polska Kasa Opieki SA

06*

▼

6*

-

-100.0

6*

34

▲

Financial Advisor

100.0

-

-2

▼

4*

-1-

--51.7

13*

30.1188.1 -

-

0.20

18.5

- 1.0

0

US$m

3

# of

0

-

1

16*

2017

▼ ▼1*1*

2

▼

-

16*1

0

-

-100.0

▼6*

-

-4*

12*

200.0 34.2

100.0

VTB Capital

--

Rank ValueChange in

02

12*12*

--1 ▼

▲3

-

0

-

1

▼0

-

- -

10* 1

15*1

-308

-

0.5-


Singhi Advisors Ltd

-

115.0

0 0 16* - - 8.0 2*

- - - -

15*-

1-48.2

CFI

Advisor

0.6 22*-

22

-

--

1.0

12*

Rank Value

1


EE Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31

3,891.1

1

Eastern European Mid-Market M&A up to US$500m by Rank Value Range

113.1

-

-

2

12*1

-

▼-72.1

3*

2017

14

203

▼

1.0

16*

-

Fees

433.9 411.9

-

1-

UAB Summa Advisers

Globalscope

Deals

1 ▲

▲

12*

-

0


16*▼

683

-

1

- 1.0

5

2017

0

5-1

66

16*

12*

▲

5

13.4

16*

-33

▼

16*

0

96.5200.0

16*

-

-

1.6-

Jan 1 - Mar 31

-12▲

-

00

Rank

17.41

- -

1

15*28.0

0

▲10*6*

** Fee

24.8

100.074.3

▼

-

2*


Wielkopolski Bank Kredytowy

IMAP

-

0

-1

16* -

0-

0

-

100.0

-

-19.93.5

13

10.0

-9

188.1

.1

16*

0

6*

-

1

1-

100.04.0

4

6*

-

# of Deals

10*

115.0

100.0

-

25*

100.0

Exp. (%)

-6.8

-

12*-

-

6.0-

1

16*

10


213.9 201.5

8

3Rank

1

6▼

Industry Total

▲- -

16*0

▼-2 15*

VGD Corporate Finance sro 0 16* - - 1.0 15* 100.0Equity Advisors Sp zoo sk 12* - 1 1 ▲ 9.9 9.2 15Dome Group -Lazard

6*

12*

100.0

▲ -

012*

-

0

100.0

-

12*

0

16*

12* - 1 1 ▲ 0

16*

-

10.9

-

-12*

0 0

▲

6*-

2

6*

3*

16*

1

-1-12*

0

12* - -

-

-

-

-

16* -

4,143.6

01

Morgan Stanley

1

0-5

10*

-

12*

123.9

-

-1

41.2

▲

0

3

0 -

-31.4

16*

01

-

-1

0

▲

Change (%)

-24.2

-3▼

3* 70.0

11

123.9

-

1 1 ▲ 229.3 215.0 2 - -

▲

-

12

3.0

8.0

9102.12

-


Rank


-

-

Euro mil

0 0 16* - - - - -12* 16* 36.5

UBS 12* - 1 1 ▲

-

200

400

600

800

1,000

1,200

$0

$2

$4

$6

$8

$10

$12

# of

Dea

ls

Ran

k Va

lue

(US

$b)


19.9%

14.0%

11.9%

11.6%

11.1%

8.9%

8.4%

6.4%

3.1% 2.5% 2.2%

Consumer Staples

Materials

Industrials

Real Estate

Telecommunications


Financials


Energy and Power

High Technology

Retail

14

krizvi

Highlight

krizvi

Stamp


Australia/New Zealand Involvement Mid-Market Rankings (MM11)



Lazard 13* 11* 1 -1 ▼ 0 23* - - - - -

RBC Capital Markets

Credit Suisse


Financial Advisor

13*

▲

0

461.3

Rank Rank

Rank Value

-57.8

938.5

-1

46.2-3

-35.1-

223*

10

--

- 2.6

Greenstone PartnersGlobal M&AMoelis & Co

CitiGrant SamuelBancorp NZ Ltd

-

0

52.7-36.8▼

13*

0

20▲

-

-

13*

23*- 904.1

2.4

-

19*

251.4

▲

1100.0

33

-48.8

-

-

13*-

24*

3.0

0.8

-▼

23*

-1

19* 1

13*

1.012*

20*

-

5

Aus/New Zealand Mid-Mkt M&A up to US$500m by Target Industry

2

23*

-

7

▼-

1

1

2

-1

-▼

- 1 1 ▲- 1 1 ▲

14

-2 -40.7

0 23* - -

1-

19* 0

-

12*

1 ▲

▼

117 ▲

Change in

▲ 0

11

-

▲

** Fee

Exp. (%)

1

5*

10*

13*

13*

-1

6*13*

-▲

018*

2*

105.9

1.4

12-

23*

6*

-19* 17

Rank

▼

3*

13*


1

19.3

100.0

3.6

# of

5*

3-

3*

2016

Australia/New Zealand Mid-Market M&A up to US$500m by Rank Value Range

100.0

6*34.8

5*

-

▲

27.0

073.3

▲

2

Industry Total

Jan 1 - Mar 31

1.1

8,447.3407 140.6

31

53.2

1

*tie


2*-▲ -

1

13*

Clairfield International 13* 11* 1 -1 ▼ 0 23*

5*

-23.84*KPMG

Macquarie Group

72*

▲

10*11

11*11*

2

-

RHT Capital Pte Ltd

0.9

-9.1

1 18*

13* -

19Goldman Sachs & Co

UBS

NomuraMorgan Stanley

Innovation Advisors

Argonaut LtdKidder Williams LtdBaker Tilly International

Peter J. Solomon Co Ltd

Deutsche BankBarclaysGreenhill & Co, LLCInvestecForsyth BarrMiles Advisory PartnersBank of America Merrill Lynch

PricewaterhouseCoopersHoulihan LokeyGresham Partners

Rothschild & Co

1

--

444.7

0

-

▼

13* - 1 1 ▲ 122.7 15 - - - - -

80.9

20*

1 1 ▲19*

1

Luminis Partners Pty Ltd

-

-

5*

100.0

▼


-2

-

▼-11

36.7

170.80

13*13*

13*

3

2017

9

1.1

345.6

-

170.8

62.7

-

.1

29*

9

▼

6 - -

▲23*

-

0

2017 Rank Value

Jan 1 - Mar 31

-0

1 0

891.85

829*

4

2

-119*

.5

461.323*0

-

▲

-

-

19*

▲

11*

1

19*

19* 0

▼

250.2

100.0

-

19*

▼

4.5

33.8

196.9

▲

2*

6

1

23*

18

276.0

-5

100.0

100.0

-

-100.0

1

- -3.7

100.0

1

23- 100.0

0 23* - -134.8

0.1

US$m

Advisor

13*13*13*

-

Rank

100.0

Accuracy SAS 13* - 1 1 ▲ 0 23* - - 0.1 29* 100.0

2


Fees

35

1.0

▲69.75.2

8▲26* 100.0

2017

29* 100.0-

-23.51

1

5

Deals

9.2▼

- -

-

9▲

11.4

-38.0

1Change (%)# of Deals

2

1 -

6 57.80.1

10

▼ 100.0

▼

-

10*

302.5

2.7

21


▼

13* - 1 1 ▲ 0 23* - - - - -

13* - 1 1 ▲ 112.7 16 - - - - -

100.0

100.0

1-

22

- - 1.0 20* 100.0

36.5

3.3

-

JP Morgan 13* 19* 1 0 - 0 23* - - - - -13* - 1 1 ▲ 445.0 4 - - - - -

Highbury Partnership Pty Ltd

70.7

-

100

200

300

400

500

600

700

$0

$2

$4

$6

$8

$10

$12

$14

$16

# of

Dea

ls

Ran

k Va

lue

(US

$b)


17.6%

13.7%

12.0%

10.5%

10.2%

8.7%

7.2%

5.4%

5.0%

4.8% 4.1% Industrials

High Technology

Financials

Consumer Staples

Real Estate

Materials


Energy and Power

Retail


Healthcare

Telecommunications

17

krizvi

Highlight

krizvi

Stamp

REUTERS / Kai Pfaffenbach MID-MARKET M&A REVIEW · ** Fee exposure indicates each firm's mid-market...

Documents

Transcript of REUTERS / Kai Pfaffenbach MID-MARKET M&A REVIEW · ** Fee exposure indicates each firm's mid-market...