Clearwater International Multiples Heatmap: Q3 2021

25 November 2021

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Unquote is pleased to present the Clearwater International Multiples Heatmap: Q3 2021, published in association with Clearwater International. The report identifies key themes driving European Private Equity (PE) deals’ EV/EBITDA multiples on a quarterly basis.
 
In this issue:
 
  • European overview: In Q3, the average EV/EBITDA multiple over the last 12 months (LTM) for European PE-backed transactions climbed to 11.8x. This is a new record and it follows an unbroken run of five quarterly increases.
  • Spotlight on US sponsors: As competition for domestic assets intensifies, US private equity players are increasingly shifting their focus to Europe. David Cannon, Managing Director at KeyBanc Capital Markets, Clearwater International’s US partner, reveals where the attractions lie for American investors.
  • TMT sector focus: The sky’s the limit for TMT – or so it seems. With tech multiples now at record highs, Clearwater International partners Nathaniel Cooper and Per Surland explain where the attractions lie and what the future could have in store.