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BDO Horizons 2022 - Issue 3

02 August 2022

Welcome to this year’s third issue of Horizons, which continues seeing strong and stable M&A activity. This issue brings you up to date commentary on deal activity levels and how we see the market in the next few months. We zoom in on our usual regions and on the TMT, Natural Resources and Building Products sectors. And as always, we have a plethora of heat charts showing potential M&A activity in the next few months.

  • Global view: M&A Deal activity still higher than pre-COVID levels
  • TMT: Is Technology M&A insulated from rising interest rates and inflation?
  • Natural Resources: German energy market faces turning point
  • Building Products & Services: Record deal volumes and rising valuations in sector embracing  sustainable innovation.

 

DACH: M&A Aktivity remains subdued

In Q2 2022, deal numbers in the DACH region decreased by 20% and value fell by 5% compared to the previous quarter. It was a different situation for the quarter’s PE deals, with volume decreasing by 18% but value rising by 10%. Compared to Q2 2021, there were 34 less deals overall, representing a decrease of 30%.

 

Key deals and sectors 

In Q2 2022, the top 10 deals in the DACH region accounted for 44% of the value of all transactions. Looking at the 20 top deals, 16 German companies and four Swiss companies were targeted. Only five of those deals involved a bidder from the same country, maintaining the trend of international interest in the region, with bidders from six different countries outside the region involved in the top 20 deals.

The biggest single deal was the acquisition of a 5.01% stake in Lufthansa AG, Germany’s biggest airline, by the German private investor Klaus-Michael Kuehne. This deal was worth USD 463m.

 

Read the complete issue 3 of BDO Horizons 2022 here.

All about the DACH Region starts at Page 25.