Global private equity mergers and acquisitions fell in the first quarter to a total transaction value of $992.5 billion, down 32.2% from the peak in the fourth quarter of 2021 and down 10% from the year-earlier quarter, according to a PitchBook report released Thursday.
Some of the transaction activity was aided by discounts, especially in the smaller, $100 million deal value and undersized range, the report noted. The median enterprise value was 1.1 times revenue of the sub-$100 million companies based on the 12 months of deal flow ended March 31, a 31.3% discount.
Private equity sellers continues to account for the majority of mergers and acquisitions. In the first quarter, private equity sellers accounted for 85.3% of all mergers and acquisitions, an all-time high, PitchBook reported.
