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Laxman Pai, Opalesque Asia:

The U.K. is now Europe's largest private equity market in both deal volume and value after a flurry of first-half megadeals, or transactions worth at least £1 billion, said a study.

According to data from CMBOR, the Centre for Private Equity and Management Buyout Research based at Nottingham University Business School, the 96 UK buyouts completed in H1 2022 were worth a cumulative £19.7bn, representing a fall from the 149 deals worth £26.6bn during the corresponding period last year, when pent-up demand drove a post-Covid bounceback in buyout activity to record post-2008 highs.

However, the cumulative deal value for the first half of 2022 was still the second-highest H1 figure since 2007. This comes despite significant inflationary pressures, rising interest rates, ongoing global supply chain complexity, and war in Ukraine.

As was the case six months ago, deal value was buoyed by the long-term upward trend in average deal size and the growing frequency of £1bn+ 'mega-deals'. The rising tide of these transactions, which accounted for 77% of all deal value in the first half of the year, coincides with continued fundraising growth across the private equity industry, with GPs deploying record levels of capital into increasingly large deals.

France ranked second in terms of volume, with 54 deals totaling €3.4bn, while Germany placed third in both volume and value, with 49 buyouts valued at €5.8bn. The Netherlands was second to the UK......................

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