Pitcher Partners’ latest Deal Pulse report on Queensland merger and acquisition (M&A) activity for the first half of the calendar year 2024 reveals that activity continues to be humming along.
Whilst the overall volume of Queensland deals in the first half of 2024 are on average with last two years, the underlying activity in terms of sectors is still “On the Move” with deal activity increasing in sectors that keep the population and economy in motion.
- Volumes: 123 deals compared to 117 in 2023, and 128 in 2022 (two-year average: 123)
The first half of 2024 included the following notable trends:
- Transportation – 9 transactions in the sector, significantly exceeding the average of 4 deals over the last two and ten year periods. The high deal activity related to businesses providing freight logistics, and bus services.
- Industrials & chemicals – 12 transactions with 3 deals in the solar and energy space, including solar company Arkana Energy Group’s $100m sale to Germany-based 1komma5°.
- Technology, media & telecommunications – saw a surge of 27 transactions with application software businesses leading the way after a volatile period for the sector (2022: 25 deals, 2023: 18 deals).
- There were notable declines in activity across the Leisure, Pharma, medical & biotech and Financial services sectors.
There were no ‘mega’ deals during H1 2024, with transactions in the ‘smaller’ end of town doing their part to maintain overall activity in line with previous years. As activity looks to be levelling out, it will be interesting to see how dealmakers adapt their strategies for the second half of the year.
If you’re interested in knowing more about your industry sector’s M&A activity or you just want a chat about how we may be able to help you, please get in touch via phone or email.
