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June 2021 Valuation Barometer
Highlights from our June ’21 Valuation Barometer, covering deals and valuation multiples in UK M&A in May 2021. Request the Executive Summary below.
MarktoMarket’s latest data indicates a continuation of the ‘return to normal’ levels of activity in UK M&A markets following elevated deal volumes in the first quarter of 2021.
The total value of deals completed in May grew by 80% to £22.5 billion from £12.5 billion in April, despite the number of transactions over £1 billion falling from nine to six.
Coinciding with the pick-up in IPO activity has been the corollary – buyer interest in UK plcs from private equity. UDG Healthcare (Clayton, Dubilier & Rice), John Laing (KKR), Sanne Group (Cinven) and St Modwen (Blackstone) were amongst the recipients of bids from buyout firms.
Other deals during May included:
- KKR’s acquisition of a majority stake in ERM, a deal that values the sustainability consultancy at $3 billion
- Ramsay Health Care Ltd’s acquisition of 100% of stakes in Spire Healthcare Group for just under £1 billion
- Centricus Acquisition Corp’s buyout of Arquit Ltd for $1.4 billion
The smaller end of the market witnessed the following deals:
- The $20 million acquisition of property transaction software specialist Terrafirma IDC by US
legal solutions provider Dye & Durham
- The sale of cannabis wellness business Ciitech to Fragrant Prosperity for £17.5 million
- The acquisition of a 10% stake in Timothy Taylor, brewer of the eponymous beer, for £2.5 million
sAMPLE COMPLETED AND ANNOUNCED m&a MULTIPLES – may 2021
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For the full list of previous 2020 / 2021 Barometers – visit our reports page.
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