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This can result in repeat business in the form of refinancing within the portfolio or referral-dealflow. Lastly, since corporations often borrow money to fund large-dollar transactions, cheaper debt could inspire some businesses to reevaluate more strategic opportunities, such as mergers and acquisitions.
Industrials has always been a leading industry for dealflow on the Axial platform, and Q1 of 2024 was no exception. Last quarter, the number of deals marketed in the industrials space on Axial was the highest it’s been since mid-year 2022, and it held fast (by more than 30%!)
One item of note is that while technology was ranked only the fourth highest industry as it relates to total dealflow in Axial in 2023, deals in the tech sector had the leading pursuit rate at 8.92%.
Outsourced business development firms, analytical services, and dealflow advanced by independent sponsors are all in the mix. About the Author Andy Greenberg is CEO of Greenberg Variations Capital, a mergers & acquisitions advisory firm based in suburban Philadelphia devoted to one-off or targeted transactions.
While the global mergers and acquisitions (M&A) landscape has been sluggish, making it challenging for firms to return capital to investors, many in the industry are optimistic, particularly as interest rates remain stable or are expected to decline.
On September 1st, after clearing the FTC second request time frame, we executed the Globus NuVasive merger. Pulse sales have been impacted by customer uncertainty with the merger, while international remains focused on continued market penetration and NSO on market reentry of key technology.
On October 1, we closed on our acquisition of Global Infrastructure Partners. Our planned acquisition of Preqin is accelerating this exciting private markets data and analytics journey for BlackRock and our clients. The combination triples infrastructure AUM and doubles private markets run-rate management fees.
While M&A revenues are still low across The Street, I was pleased that we participated in some of the significant deals announced in the quarter, such as Diamondback's merger with Endeavour Energy and Catalent's merger with Nova Holdings. Advisory revenues declined given the low level of announced merger activity last year.
We intend to launch a strategy focused on triple net lease in Europe, driven by dealflow we already see today. Marc Lipschultz -- Co-Chief Executive Officer Well, the healthcare product certainly is in line and -- or put it another way, let me contextualize the Cowen acquisition. And then the outlook is pretty bright as well.
Or are you guys looking to make some acquisitions in that space? We never precluded an acquisition. But with that, we're very disciplined, I think, in how we approach acquisitions, especially these days. And is there any difference in linearity of dealflow during the quarter, this quarter versus previous quarters?
Excluding the impact of Engineering Solutions in all periods, but including approximately $10 million from this year's tuck-in acquisitions, revenue growth would have been 7%. There's not a lot of dealflow. Trailing 12-month margins have contracted 60 basis points. A question on fixed income indices, please. Thank you, Russell.
Last year resulted in a record-breaking year for deal volume on Axial, with 10,735 deals coming to market in 2024 a 7.8% The increase happened largely in the second half of the year, with both Q3 and Q4 resulting in 26% and 15% higher dealflow than the same periods in 2023, respectively.
Technology ranked 4th in dealflow but had the highest average pursuit rate, 8.76%, of all sectors. See below for the full Q3 deal activity overview on the Axial platform, and for a more detailed breakdown by industry, check out The SMB M&A Pipeline: Q3 2023.
JLL Partners is dedicated to partnering with companies that it can fundamentally help build into market leaders through a combination of strategic mergers and acquisitions, market repositioning, and product and service line expansion. We know how to operate in situations that are not “packaged” for sale.
Global mergers and acquisitions rebounded in the first quarter of 2024 compared with a year earlier, driven by mega-deals in the finance, software and energy sectors. It has also provided financing to support acquisitions led by Carlyle Group Inc., It recently committed $350 million to Blackstone Inc.’s KKR & Co.
In connection with the Eldorado-Caesars merger, we retired the CMBS debt. And with our acquisition of MGP, we were able to retire all of our remaining secured debt and received an investment-grade credit rating from S&P and Fitch in April of 2022. With that, operator, please open the line for questions. Thanks and good morning.
In fact, that was pre -merger with Manny Hanny and Chemical, and JP Morgan, and et cetera. Unfortunately, you know, they went through a series of about a dozen mergers — RITHOLTZ: Right. RITHOLTZ: There was just a run of acquisitions until they’re the behemoth. How did you get to Chase? KENCEL: Sure. KENCEL: Right.
Market Intelligence revenue increased 5% in the fourth quarter or 6% excluding acquisitions and divestitures, with positive revenue growth in every business line. Advisory & Transactional Services revenue grew by 27%, or 18% when excluding the impact from the World Hydrogen Leaders acquisition. Turning to our divisions.
One of my big predictions under a Trump presidency is that mergers and acquisitions (M&A) will see a notable uptick. Below, I'll explain the factors that inhibited deal activity in recent years and make the case for why M&A could make a comeback. The S&P 500 has hit 50 record highs just this year.
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