Provides private equity sponsors with middle-market transaction trends and insights compiled by the BMO Harris Sponsor Finance group - information that helps sponsors better understand the current financing climate in the middle market.
PUBLISHED: January 24, 2014
As we close the book on 2013, the trends that dominated the past year appear poised to continue in the near future. Debt providers—whether traditional banks and commercial finance companies, or newer entities that are more yield-focused—continue to support the limited new LBO volume that exists in the market with aggressive leverage structures and moderating pricing. Current purchase multiples, while high, might not be as high as rumored.
PUBLISHED: October 22, 2013
The traditionally quiet third quarter saw a heightened level of activity in August and September as the long-awaited return of buyout candidates finally emerged. Debt markets continue to be supportive of this activity with stable pricing and aggressive leverage and terms. In some cases, even more leverage has been available than private equity investors have chosen to use.
This issue of Transaction Trends includes data and commentary on the most relevant and interesting developments affecting middle market leveraged finance and private equity in the third quarter.
PUBLISHED: July 24, 2013
This issue of Transaction Trends includes data and commentary on what we believe were the most relevant and interesting developments affecting middle market leveraged finance and private equity in the second quarter 2013. We collected the data through our extensive deal sourcing and review, and we believe it presents an informed view of the current state of the market.
The second quarter saw a continuation of (1) the imbalance in supply and demand in new LBO candidates, (2) the popularity of dividend recaps, (3) the upward direction of leverage and (4) the pressure on loan pricing. The latter changed direction in mid May and is the subject of our first commentary.
PUBLISHED: April 29, 2013
Perhaps the biggest story the market is hoping to see unfold in 2013 is the return of robust leveraged buyout activity. While a few mega deals sparked general optimism of an LBO turnaround, we did not see evidence of this taking hold in the middle market in the first quarter.
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