Proventis M&A Facts shall provide facts and trends in some core sectors, such as Base- & Petrochemicals, Building Construction & Living, Cleantech, Healthcare, Logistics, Media, Packaging, Software & IT Services as well as Specialty Chemicals & Advanced Materials including lighthouse deals, peer-valuations, multiples as well as operating benchmark numbers by size and industry.
Base- & Petrochemicals: The multiples of the peer group continued trading up in Q1 2021 reaching a new high. The EBITDA- and EBIT-multiples are now at 12.2x and 30.1x, respectively. Transaction multiples increased as well, from 14.8x EBITDA in Q4 2020 to 16.8x in Q1 2021.
Building Construction & Living: The multiples of the peer group increased significantly in Q1 2021 reaching a new multi-year high. The trading EBITDA- and EBIT-multiples are now at 12.5x and 22.9x, respectively. Transaction multiples also increased from 8.4x EBITDA in Q4 2020 to 9.2x in Q1 2021.
Cleantech: The global Cleantech M&A market showed in Q1/2021 strong signs for a successful year. The transaction value jumped to €40bn, a new two-year high. The number of transactions declined compared to Q4/2020 but remained with 375 recorded deals on a very high level.
Healthcare: European Midcap Pharma and Biotech peers’ enterprise valuation peaked in terms of EBITDA (11.7x) and Revenue (3.7x) multiples, reflecting the generally positive impact of Covid-19 as well as signs of economic recovery on assets in the industries.
Logistics: COVID-19 has led to a disruption in the logistics industry overall, as passenger air traffic in particular has nearly come to a halt in 2020, while global delivery services have remained steady, due to huge increase of global eCommerce deliveries.
Media: As a reaction to new lockdowns, Media sector companies aim at new and more extensive ways to reach customers and consumers at home. Means of leisure like gaming and video streaming gain in business relevance. The trading multiples of public companies have recovered further towards a pre-Covid19 state.
Packaging: The multiples of the peer group continued to trade up in Q1 2021 and are now higher than before Covid-19 struck. The EBITDA- and EBIT-multiples are now at 9.1x and 16.1x, respectively. In contrast, EBITDA transaction multiples decreased from 8.3x in Q4 2020 to 7.7x in Q1 2021.
Specialty Chemicals & Advanced Materials: The multiples of the peer group decreased in Q1 2021 after rising for four consecutive quarters. The EBITDA- and EBIT-multiples are now at 12.4x and 19.1x, respectively. Transaction multiples decreased as well, from 19.9x EBITDA in Q4 2020 to 18.6x in Q1 2021.