Renatus says M&A deal volume on a par with 2022
Summary
“Significant consolidation is occurring within this sector due to the potential for efficiencies of scale and enhanced market presence in a larger group,” said Renatus director Brendan Traynor. “Importantly, it can also provide a means for people-led businesses to unlock the value they have created within their business.” There were eight deals in the telecoms/tech services sector, including the acquisition of Speed Fibre Group by Cordiant Digital Infrastructure. Renatus attributed the rise in value to several major fundraises such as ESB raising €1bn on the bond market and Wayflyer securing $1bn in capital from US firm Neuberger Berman. Shackle and Tirlán also raised funds in Q3, along with ePower, UrbanVolt, Power Capital Renewable Energy, Neart na Gaoithe, Everseen, LetsGetChecked, Neurent Medical, CergenX and Spotlight Oral Care. Renatus director Mark Flood said there are challenges ahead for M&A activity with high interest rates, inflation, and geopolitical tensions cultivating a difficult economic environment.