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March 2021 Valuation Barometer

Category: Market Report

Overview

Highlights from our March ’21 Valuation Barometer, covering deals and valuation multiples in UK M&A in February 2021.  Request the report below.

Highlights

The last month proved to be another strong period for UK deal activity. A total of 395 M&A transactions were recorded in February (19% higher than January).

The energy sector was particularly active. Greencoat Energy completed 4 deals in the month, including its first entry into Scandinavia with the acquisition of a 43MW wind farm development for €60 million.

We calculated that M&A deals valued at a total of £48.2 billion were executed or announced during the month, 45% higher than January 2021.

dEAL cOMMENTARY

We identified 9 events with a deal value of over £1 billion, including Jazz Pharmaceuticals’ bid for medicinal cannabis company GW Pharmaceuticals, and the proposed reverse of startup
online car retailer Cazoo into a US-listed Special Purpose Acquisition Vehicle (SPAC).

Spotlight Transactions

Other deals during February included:

  • Reading-based Dialog Semiconductor’s £4.2 billion takeover by Renesas Electronics Corporation of Japan
  • The €3.5 billion investment into vet practice consolidator Independent Vetcare by private equity groups Silver Lake Partners and EQT
  • Greencoat Energy’s acquisition of Kokkoneva wind farm for €60m

The smaller end of the market witnessed the following deals:

  • Coca-Cola European Partners’ acquisition of Coca-Cola Amatil, one of the largest bottlers and
    distributors of Coke and other drinks in Asia-Pacific, valuing the business at £5.8 million
  • The sale of Mortgage Gym, an online mortgage calculator and adviser, to LSL Property Services for £2.4 million
  • The £2.3 million acquisition of wealth management business Montagu by Mattioli Woods

sAMPLE COMPLETED AND ANNOUNCED m&a MULTIPLES – February 2021

Request the executive report below. Please contact olga@marktomarket.io to discuss access to the full list of deals in the MarktoMarket Valuation Barometers.

For the full list of previous 2020 / 2021 Barometers – visit our reports page.

Request the March 2021 Barometer

Submit the form for the executive report.

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