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M&A deal value by Private Equity doubles

M&A deal value by Private Equity doubles

New Zealand saw private equity’s (PE) contribution to overall merger & acquisition deal value double in FY2015 according to the latest Market Observations report from the New Zealand Private Equity & Venture Capital Association (NZVCA) and S&P Capital IQ.

‘PE deals in New Zealand made up 5% of all deals in the year ended 30 June 2015, and contributed 13% of total deal value for the year. There was a decline in terms of volume but a rise in value from FY2014 to its highest level since 2011,’ says S&P Capital IQ Vice President, Clive Cooper.

NZVCA Executive Director Colin McKinnon adds: `PE activity tends to contribute a similar percentage of deals in New Zealand and Australia. However nearly a quarter of transactions in the US and UK involve PE buyers, which suggests that there is still considerable headroom for PE to invest in the New Zealand market.’

The mid-market (NZ$50m-NZ$250m) showed a large year-over-year increase, with deal volume and value up 72% and 287% respectively from the historical low in FY2014. Average mid-market transaction size was steady at around $86m. Total number of M&As completed in New Zealand in FY2015 dropped by 11% while the value of deals increased by 26% to a five year high of NZ$8.9b. Total number of private placements decreased by 27% but the total transaction value hiked 56% to NZ$893m from NZ$573m last year.


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