Capstone Partners & IMAP Release 2024-2025 Trends in Global M&A Research Survey:
Capstone Partners and IMAP have released their 2024-2025 Trends in Global M&A Survey Report, based on insights from 100 M&A advisors across 54 countries. The survey, conducted between September-November 2024, reveals optimistic market outlook for 2025.
Key findings show that only 38% of investment bankers expect a recession in 2025, down 22% year-over-year. A significant 79% of advisors anticipate increased deal flow in 2025, while 88% reported strong middle market M&A performance in 2024. Private equity activity outlook is bullish, with 51% expecting increased sponsor dealmaking.
The survey highlights that 69% of bankers identified recurring revenue as important for acquisitions. 46% of advisors expect moderate valuation increases in 2025, with FinTech and Healthcare sectors commanding highest EBITDA multiples. Business owner retirement (54%) was the primary sell-side driver in 2024, while industry consolidation is expected to lead in 2025.
Capstone Partners e IMAP hanno pubblicato il loro rapporto sulle tendenze Global M&A 2024-2025, basato sulle intuizioni di 100 consulenti M&A provenienti da 54 paesi. Il sondaggio, condotto tra settembre e novembre 2024, rivela un'ottimistica prospettiva di mercato per il 2025.
I risultati principali mostrano che solo il 38% degli investment banker si aspetta una recessione nel 2025, in diminuzione del 22% rispetto all'anno precedente. Una significativa 79% degli advisor prevede un aumento del flusso di operazioni nel 2025, mentre l'88% ha riportato forti prestazioni nel mercato medio di M&A nel 2024. Le prospettive per l'attività di private equity sono ottimistiche, con il 51% che prevede un aumento delle operazioni da parte degli sponsor.
Il sondaggio evidenzia che il 69% dei banker ha identificato le entrate ricorrenti come importanti per le acquisizioni. Il 46% degli advisor prevede un moderato aumento delle valutazioni nel 2025, con i settori FinTech e Healthcare che comandano i più alti multipli EBITDA. Il ritiro dei proprietari di aziende (54%) è stato il principale motore della vendita nel 2024, mentre si prevede che la consolidazione dell'industria guiderà nel 2025.
Capstone Partners e IMAP han publicado su informe sobre las tendencias de M&A global 2024-2025, basado en opiniones de 100 asesores de M&A de 54 países. La encuesta, realizada entre septiembre y noviembre de 2024, revela un optimismo en la perspectiva del mercado para 2025.
Los hallazgos clave muestran que solo el 38% de los banqueros de inversión esperan una recesión en 2025, disminuyendo un 22% en comparación con el año anterior. Un significativo 79% de los asesores anticipan un aumento en el flujo de transacciones en 2025, mientras que el 88% reportaron un fuerte desempeño en M&A en el mercado medio en 2024. Las perspectivas de actividad de capital privado son optimistas, con el 51% esperando un aumento en el negocio de los patrocinadores.
La encuesta destaca que el 69% de los banqueros identificaron los ingresos recurrentes como importantes para las adquisiciones. El 46% de los asesores espera moderados aumentos en las valoraciones en 2025, siendo los sectores de FinTech y Salud los que tienen los múltiplos EBITDA más altos. El retiro de los propietarios de negocios (54%) fue el principal motor de ventas en 2024, mientras que se espera que la consolidación de la industria lidere en 2025.
캡스톤 파트너스와 IMAP는 54개국의 100명의 M&A 자문가의 의견을 바탕으로 한 2024-2025 글로벌 M&A 트렌드 조사 보고서를 발표했습니다. 2024년 9월부터 11월 사이에 실시된 이 조사는 2025년 시장에 대한 낙관적인 전망을 보여줍니다.
주요 발견 사항으로는 38%의 투자은행가만이 2025년에 경기 후퇴를 예상하고 있으며, 이는 전년 대비 22% 감소한 수치입니다. 79%의 자문가가 2025년 거래 흐름의 증가를 예상하고 있으며, 88%는 2024년 중간 시장 M&A 성과가 강했다고 보고했습니다. 사모펀드 활동 전망은 긍정적이며, 51%가 스폰서의 거래 증가를 기대하고 있습니다.
이번 설문조사는 69%의 은행가들이 지속적 수익을 인수의 중요한 요소로 확인했다고 강조합니다. 46%의 자문가는 2025년에 보통 수준의 가치 상승을 예상하고 있으며, 핀테크 및 헬스케어 분야는 가장 높은 EBITDA 배수를 차지하고 있습니다. 사업자 퇴직(54%)은 2024년 주요 매도 측 원인이었고, 2025년에는 산업 통합이 주도할 것으로 예상됩니다.
Capstone Partners et IMAP ont publié leur rapport sur les tendances des fusions et acquisitions (M&A) mondiales 2024-2025, basé sur les insights de 100 conseillers M&A provenant de 54 pays. L'enquête, réalisée entre septembre et novembre 2024, révèle une perspective de marché optimiste pour 2025.
Les résultats clés montrent que seulement 38% des banquiers d'investissement s'attendent à une récession en 2025, en baisse de 22% par rapport à l'année précédente. Une part significative de 79% des conseillers prévoient une augmentation des flux d'affaires en 2025, tandis que 88% ont signalé de solides performances en M&A sur le marché intermédiaire en 2024. Les perspectives d'activité en capital-investissement sont optimistes, avec 51% s'attendant à une augmentation de la création de transactions par les sponsors.
L'enquête souligne que 69% des banquiers ont identifié les revenus récurrents comme importants pour les acquisitions. 46% des conseillers s'attendent à des augmentations modérées des valorisations en 2025, les secteurs FinTech et Santé attirant les multiples EBITDA les plus élevés. La retraite des propriétaires d'entreprises (54%) a été le principal moteur côté vendeur en 2024, tandis qu'une consolidation de l'industrie est attendue pour 2025.
Capstone Partners und IMAP haben ihren Bericht über die Trends im globalen M&A 2024-2025 veröffentlicht, der auf Erkenntnissen von 100 M&A-Beratern aus 54 Ländern basiert. Die Umfrage, die zwischen September und November 2024 durchgeführt wurde, zeigt eine optimistische Marktperspektive für 2025.
Die wichtigsten Ergebnisse zeigen, dass nur 38% der Investmentbanker eine Rezession im Jahr 2025 erwarten, was einem Rückgang von 22% im Vergleich zum Vorjahr entspricht. Ein erheblicher 79% der Berater erwarten einen Anstieg des Transaktionsflusses im Jahr 2025, während 88% von einer starken Performance im Mittelstands-M&A im Jahr 2024 berichten. Die Aussichten für private Equity-Aktivitäten sind optimistisch, wobei 51% einen Anstieg der Sponsorentransaktionen erwarten.
Die Umfrage hebt hervor, dass 69% der Banker wiederkehrende Einnahmen als wichtig für Akquisitionen identifiziert haben. 46% der Berater erwarten moderate Bewertungssteigerungen im Jahr 2025, wobei die Sektoren FinTech und Gesundheitswesen die höchsten EBITDA-Multiplikatoren aufweisen. Der Ruhestand von Unternehmensinhabern (54%) war der Hauptantrieb für Verkäufe im Jahr 2024, während eine Branchenkonsolidierung im Jahr 2025 zu erwarten ist.
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Easing Recession Fears, Robust Private Equity Activity Drives Strong 2025 M&A Market Outlook
Key Findings:
- Advisors' economic outlook continued to improve as central banks began to cut interest rates, providing a healthy backdrop for 2025 M&A activity. Only
38% of total investment bankers surveyed expect a recession to be very or somewhat likely in 2025, down22% year-over-year (YOY) and40.2% compared to 2023's outlook. - As M&A activity likely neared or reached its trough in 2024, the vast majority (
79% ) of total advisors surveyed anticipate 2025 deal flow to increase. This marks a rise of28% YOY and50.4% compared to 2023. - Middle market M&A activity in 2024 continued to remain strong compared to the broader market, with
88% of total investment bankers surveyed indicating that middle market dealmaking outperformed or remained in line with the broader market. - Advisors' outlook for private equity activity is increasingly bullish for 2025, as more than half (
51% ) of investment bankers surveyed expect sponsor dealmaking to increase. - Buyers have become increasingly selective in their acquisition pursuits, prioritizing target companies with robust financial visibility. Among total investment bankers surveyed,
69% indicated that recurring revenue was the most important characteristic to acquirers in 2024, representing an increase of6% YOY. - M&A purchase multiples are expected to tick up in 2025, with
46% of advisors surveyed anticipating a moderate rise in valuations compared to 2024. Advisors showcased significant consistency regarding anticipated 2025 industry valuations, with the Financial Technology & Services and Healthcare industries expected to continue drawing the highest average typical M&A EBITDA multiples. - In 2024,
54% of advisors surveyed identified that business owner retirement was the top factor for sellers initiating an M&A transaction in 2024. For 2025, industry consolidation is anticipated to be the primary sell-side motivator, which is likely a reflection of advisors' expectations for robust M&A volume gains in 2025. - To achieve a successful M&A deal for a seller, nearly all (
97% ) advisors pointed to setting a realistic deal valuation as very or somewhat important. This aligns with the primary deal closing hinderance advisors faced throughout 2024, as60% experienced excessive valuation expectations from sellers.
Through this research, Capstone Partners and IMAP have tracked notable impacts on the global M&A market, current economic environment, as well as M&A advisors' expectations on pricing trends and regional risks and opportunities moving forward into 2025.The report also provides an analysis of sell-side M&A considerations for middle market business owners looking to pursue a liquidity event.
To access the full report including a breakout of the results by industry and region, click here.
ABOUT CAPSTONE PARTNERS
For over 20 years, the firm has been a trusted advisor to leading middle market companies, offering a fully integrated range of investment banking and financial advisory services uniquely tailored to help owners, investors, and creditors through each stage of the company's lifecycle. Capstone's services include M&A advisory, debt and equity placement, corporate restructuring, special situations, valuation and fairness opinions and financial advisory services. Headquartered in
ABOUT IMAP
IMAP is an International Mergers and Acquisitions Partnership with a 50-year track record, more than 450 M&A professionals worldwide and a presence in 51 countries. IMAP has closed over 2,200 transactions valued at
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SOURCE Capstone Partners
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