The uncertainty and market disruption stemming from the COVID-19 crisis has had a severe impact on private equity in Europe. Only 1,149 transactions were announced between 1 March and 15 June 2020, down 51.9% from the average number of transactions announced in the same period between 2017 to 2019. As a result, total transaction value was down 56.9% compared to the average of the three previous years over the same period. However, signs of a recovery are appearing, with a number of significant transactions agreed in recent weeks, including one of the largest take-privates in Europe. Further, a number of important potential transactions are rumoured to be nearing a formal announcement.
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Originally published July 6, 2020.
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