Preface

The Q3 Update for the Global Mid-Market¹ Private Equities Report analyzes the market trends in Private Equity (PE) Merger & Acquisition (M&A) deals, in the Mid-Market, with a focus on Q3 2024. And includes sequential and year-on-year analysis from previous quarters.

A quarterly publication of Altius², the report highlights how PE deals and operations team differentiate themselves from their peers to generate higher returns through operational excellence. The report analyzes different Mid-Market sub-segments by region, fund-type, industry segment and deal economics.

Key Take-Aways

Q3 2024 At A Glance

Summary/Analysis

The Q3 2024 data underscores a PE landscape focused on Core and Lower Mid-Market opportunities. Industry and regional patterns remained steady, indicating persistent investor confidence in established growth areas. Sponsors such as KKR & Co. and Blackstone Group have continued to be strong players in the overall Mid-Market space. The declining transaction values and significantly shorter closing times may reflect caution in deal structuring amid uncertain macroeconomic conditions. However, the increased focus on Mid-Market deals and higher transaction values year-over-year points to strategic adjustments aimed at capturing opportunities in promising market areas. Together, these insights paint a picture of adaptability and sustained interest in PE despite broader economic challenges.

Notes

      ¹ Globally, the Mid-Market segment is categorized based on annual revenue of portfolio companies, with three distinct tiers. The Lower Mid-Market (LMM) is companies with revenues between $25 million to $100 million. The Core Mid-Market (CMM) ranges from $100 million to $500 million, and Upper Mid-Market (UMM) ranges from $500 million to $2 billion.

      ² Founded in 2019, by Big Four management consultancy professionals, Altius is a leading global advisor to Private Equity funds and their portfolio companies in the Mid-Market.