PitchBook News - Corporates swoop in on assets

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The Weekend Pitch

July 28, 2024

Presented by Masterworks

(Shannon Fagan/Getty Images)

At the beginning of the year, GoCanvas was presented with an offer it couldn't refuse.

Nemetschek Group, a German developer of construction software and a strategic partner of GoCanvas, made a preemptive offer to acquire the Virginia-based company, PE-backed since 2019.

The all-cash deal went through a relatively smooth due diligence process that focused on evaluating potential growth synergies and closed within six months of Nemetschek division officer Usman Shuja initiating the talks.

GoCanvas, which develops software for field-worker collaboration, is just one example of the many mature assets held by PE firms attracting the interest of cash-rich strategic buyers, which are ready to pounce on assets that could expand their offerings, all while GPs face pressure to realize a mounting backlog of unsold investments.

I'm Madeline Shi and this is The Weekend Pitch. You can reach me at madeline.shi@pitchbook.com or @Madelin94615831 on X.

Trivia

Global M&A activity is on the rebound. What began as a slow and steady recovery in Q1 has picked up and gained steam in Q2, especially as private equity joins the mix. How many M&A deals have happened so far this year?

A) 56,981
B) 21,945
C) 11,235
D) 30,945

Find your answer at the bottom of The Weekend Pitch!

PE steps up from the bench
in Q2 M&A dealmaking

M&A's path to recovery has been solidly tracking upward as private equity's share of M&A dealmaking has rebounded.

PE's slice of total M&A deal value hit 41% in Q2, up from 33.5% in the first quarter. With banks lending again for leveraged buyouts, this has helped lower borrowing costs and large take-privates have surged.

Our Q2 2024 Global M&A Report, sponsored by Liberty GTS and Clear Street, covers the trends shaping M&A dealmaking by region and sector—and how these developments may set the stage for an active second half of the year.

PE comes to the aid
of enterprise SaaS M&A

Our recent Emerging Tech Research covers the primary drivers of M&A's recovery in the enterprise SaaS industry. Kicking off regular updates on M&A activity across the sector, analyst Derek Hernandez highlights the stabilizing factors as dealmaking settles into a new normal, starting with PE and leveraged buyouts.

The analyst note also covers key segments in the space and maps trends across six years of data—providing a view of where M&A activity has been and where it may be going.

Charting digital
infrastructure's rise and future

(Jason Marz/Getty Images)

Investment in the digital infrastructure market is on the rise. About $800 billion in commitments have been made to private funds with exposure to data centers and telecom infrastructure over the past decade—with specialist digital infrastructure funds representing a larger share in recent years.

Government initiatives, coupled with digitalization of the global economy, have paved the way for growth in the sector—and with AI energizing the need for data centers, the space is poised for greater expansion. Our analyst note covers the key drivers and what may be on the horizon.

Stay tuned

Keep an eye out for these insights and research reports coming out this week:

Q2 2024 Information Security Report
Q2 2024 Carbon & Emissions Tech Report
June 2024 Global Markets Snapshot
Q2 2024 Enterprise Fintech Report
Analyst Note: Currency Crossroads: A Cross-Border Payments Deep Dive

Trivia

Answer: B)

In 2024 thus far, 21,945 M&A transactions have been recorded by PitchBook. Global activity is tracking 10% to 15% above 2023’s total. You can read more about what’s driving the trend upward in our Q2 2024 Global M&A Report.

This edition of The Weekend Pitch was written by Madeline Shi and Jacob Robbins. It was edited by Clarinda Simpson and Heather West.

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PitchBook News - Corporates swoop in on assets

Trivia

PE steps up from the bench
in Q2 M&A dealmaking

PE comes to the aid
of enterprise SaaS M&A

Charting digital
infrastructure's rise and future

Stay tuned

Trivia

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PitchBook News - Corporates swoop in on assets

Trivia

PE steps up from the bench in Q2 M&A dealmaking

PE comes to the aid of enterprise SaaS M&A

Charting digital infrastructure's rise and future

Stay tuned

Trivia

Older messages

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PE steps up from the bench
in Q2 M&A dealmaking

PE comes to the aid
of enterprise SaaS M&A

Charting digital
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