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Clarity on Mergers & Acquisitions
Capturing value through integration
Delivering value amid uncertainty
Though deal activity fell short of 2018’s record levels, Timo Knak explains how 2019 was a strong year – partly thanks to significant amounts of Private Equity dry powder – despite economic and geopolitical volatility. He notes how a clear integration strategy throughout the pre, in and post-deal phases is critical to delivering incremental shareholder value, especially in times of uncertainty.
Partner, Head of Deal Advisory and
Head of Mergers & Acquisitions
Western Europe was the primary destination for Swiss acquirers – mainly Germany, France and the UK – though the value of deals in the US was higher due to four particular, large transactions. Western Europe dominated both the number and value of inbound acquisitions, with the latter being helped by EQT’s purchase of Nestlé Skin Health. Alcon’s spin-off meanwhile boosted Swiss domestic deal values.
Values in USD million
Another strong year for M&A
The number and value of deals fell slightly in 2019 following record highs the previous year. Chemicals, Technology, Media & Telecommunications and Pharmaceuticals bucked the trend. Multi-billion dollar deals, strong multiples and a favorable financing environment supported a robust result. And Private Equity was a strong contributor, involved in almost half of the 50 largest Swiss transactions.
Number and value of deals per year
Number of deals and percentage per industry sector 2019
Kuehne + Nagel’s Head of Global Mergers + Acquisitions, Pablo von Siebenthal, on how preparation and accountability are the keys to successfully integrating acquired businesses, and how to carry it out when every deal is different.
We see due diligence as the first phase of the integration – with this approach we will continue to create value.
Pablo von Siebenthal, Head of Global Mergers + Acquisitions, Kuehne + Nagel