In line with what has been seen across the wider global M&A market, Industrial M&A has continued to see a fall in deal activity against the backdrop of continued economic uncertainty with deal volume down 26% from Q4 2021 and 8% from Q4 2019. However, there has been a notable increase in deal value and growth in transaction multiples, underpinned by a surge in mega-deals and investments from strategic investors.
In fact, there have been 25 mega-deals completed in Q4; this is up 79% vs. Q3 2022 and 25% vs. Q4 2021. While this could be coincidental timing in part, the fact that these deals mostly involved strategic investors continuing to reshape their portfolios to align with long term megatrends demonstrates that the forward-looking corporates continue to see M&A as a vital tool to deliver on strategic objectives.
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