DEAL PULSE: QUEENSLAND “Refreshingly Positive Despite Headwinds”

PITCHER PARTNERS BRISBANE 1 SEPTEMBER 2022:

Queensland deal volumes are continuing on a positive trajectory in the first half of 2022. Increased inflation and rising interest rates, coming after the past two years of COVID affected numbers, have not slowed M&A activity and volumes are on track for a year on-par with long-term averages.

Pitcher Partners’ H1, 2022, Queensland Deal Pulse report saw 128 M&A deals:

• Disclosed values of $4.6bn.
• Private Equity deals are heading for a record year proving the market is buoyant.

Key facts and figures:

• Business Services saw an 100% increase on deals in H1, 2022 (16 deals) compared with H1, 2021 (8 deals). The largest Business Services deal value was approx. $617m.
• Most active sector continues to be Technology, Media and Telecommunications with 25 deals in H1, 2022.
• Construction sector deals doubled to 8 deals in H1, 2022 from 4 deals in H1, 2021 with the disclosed value of the largest deal being approx. $58m.

Commentary including Outlook:

Warwick Face, Partner in Charge – Corporate Finance, Pitcher Partners Brisbane says:

“2022 has so far seen a federal election, rising interest rates and increased inflation. All this coupled with some steady COVID-19 caution, could have stalled M&A activity. Deal volumes in the 6 months to June however are Refreshingly Positive, across a number of sectors despite these headwinds.

The outlook for the full 2022 year is tracking towards the top quartile of long-term averages, with strong signs particularly in Business Services which is driving volumes.”

For a copy of the report or for further comment, please contact:

Warwick Face, Partner in Charge – Corporate Finance, Pitcher Partners Brisbane

This report gives a Queensland perspective to M&A activity and includes: acquisitions by Queensland based private and public corporate entities of local, interstate and offshore ventures; and divestments of Queensland-based ventures to local, interstate and offshore entities and private equity funds. Transaction values are included in the report to the extent that deal values have been publicly disclosed.

Pitcher Partners is an association of independent firms located in Brisbane, Melbourne, Sydney, Perth, Adelaide, and Newcastle. Pitcher Partners are independent members of Baker Tilly International.