rankings … · engaging _the future by your side the team of anquor, while operating as eurohold...

ENGAGING_THE FUTURE

BY YOUR SIDE

The team of ANQUOR, while operating as Eurohold reached the top rankings attached.

Rankings2019-2014

Rankings | 2019

3

, INDEPENDENT LEADER by number of Mid-Cap transactions in Spain

MID-MARKET M&A REVIEWUP TO US$500M SPAIN

Full Year 2019

22* 17*

YoY Change ($)Italian Involvement Mid-Market (MM7)

Industry Total 2,553 -16 45,662.7 Industry Total 1,524 99 24,610.4 Industry Total 1,369 -75 26,724.9*Indicates a Tie

ACXIT Capital Partners 23* 8* 11 -12 135.8Bank of America Merrill Lynch 23* 44* 11 5 2,064.1 JP Morgan 24 19* 8 0 924.2

1,108.9Globalscope 23* 15 11 -5 18.9 CFI 21* 18 9 0 19.1 Oaklins 22* 14 6 -2 183.3GCA Corp 21* 16* 12 -2 652.2 Clairfield International 21* 13* 9 -6 8.5 Morgan Stanley 6 0

0.0Ebner Stolz 21* 36* 12 4 112.0 Ernst & Young LLP 21* 10* 9 -13 67.8 JP Morgan 19* 41* 7 5 0.0Goldman Sachs & Co 17* 35 13 4 2,420.2 Banca IMI (Intesa Sanpaolo) 17* 9 10 -14 708.0 Daiwa Securities Group Inc 19* 41* 7 5

744.0Oaklins 17* 30* 13 3 25.5 Prometeia SpA 17* 28* 10 5 539.3 BBVA 19* 30* 7 4 133.1Daiwa Securities Group Inc 17* 55* 13 9 195.6 Ethica Corporate Finance SpA 17* 16 10 -2 34.2 AZ Capital 15* 15* 8 1

493.9BNP Paribas SA 17* 30* 13 3 1,492.7 UBI Banca SpA 17* 19* 10 2 7.3 Bank of America Merrill Lynch 15* 30* 8 5 1,472.8Sonntag Corporate Finance GmbH 16 24* 14 2 0.0 Alantra Partners SA 13* 32* 11 7 509.2 Credit Suisse 15* 30* 8 5

660.726.2Lazard 14* 16* 15 1 555.2 Equita SIM SpA 13* 13* 11 -4 1,005.4 CaixaBank SA 15* 30* 8 5

Macquarie Group 14* 41* 15 8 891.1 Lincoln International 13* 23* 11 5 122.9 Houlihan Lokey 14 50* 9 8

1,259.2JP Morgan 13 30* 16 6 1,570.9 BNP Paribas SA 13* 17 11 0 180.2 IMAP 13 17* 10 4 0.0Concentro Management AG 12 11* 18 -1 0.0 Barclays 12 28* 12 7 2,104.9 Alantra Partners SA 11* 12* 11 2

1,195.0Clairfield International 10* 24* 19 7 284.1 Arkios Italy SpA 11 19* 17 9 0.0 Citi 11* 21* 11 6 1,870.3BDO 10* 4 19 -17 89.3 Lazard 9* 8 19 -8 2,027.7 Lazard 9* 12* 13 4

2,222.1Falkensteg GmbH 9 10 20 -1 0.0 Fineurop Soditic 9* 10* 19 -3 298.8 Rothschild & Co 9* 9* 13 2 1,235.7UniCredit 8 11* 24 5 57.8 Rothschild & Co 8 6* 28 -3 2,096.2 Santander Corp & Invest Bkg 8 9* 19 8

10.391.8IMAP 7 8* 25 2 0.0 Vitale&Co-IMAP 7 6* 29 -2 1,569.0 Eurohold SL 6* 6 21 3

Lincoln International 6 5* 31 -1 303.3 UniCredit 6 2 34 -13 874.9 Norgestion 6* 7 21 7

527.90.0KPMG 5 2 32 -16 775.2 Mediobanca 5 5 35 1 3,019.1 BDO 5 5 24 2

Rothschild & Co 4 5* 37 5 2,121.2 Kon SpA 4 3 43 4 44.3 KPMG 4 4 45 -13

2,218.8PricewaterhouseCoopers 3 7 57 27 1,990.6 PricewaterhouseCoopers 3 4 45 7 1,454.0 Ernst & Young LLP 3 3 49 -16 1,352.1Deloitte 1* 3 60 17 687.6 Deloitte 2 12 53 36 449.6 Deloitte 2 2 72 -32

Value US$mil

Ernst & Young LLP 1* 1 60 6 1,256.2 KPMG 1 1 83 -14 3,403.1 PricewaterhouseCoopers 1 1 110 5 2,344.1Financial Advisor

Rank2019

Rank2018

# of Deals

YoY Chg# of Deals

Value US$mil Financial Advisor

Rank2019

Rank2018

# of Deals

YoY Chg# of Deals


Rank2019

Rank2018

# of Deals

YoY Chg# of Deals

Industry Total 17,831 -484 274,895.4 Industry Total 5,152 -300 86,645.3 Industry Total 2,896 28 40,079.9

German Involvement Mid-Market (MM6) YoY Change ($) 21% 11% Spanish Involvement Mid-Market (MM8) YoY Change ($) 15%

1,548.0Daiwa Securities Group Inc 24 48 65 28 1,477.0 Daiwa Securities Group Inc 24 44* 29 15 1,169.9 Goldman Sachs & Co 23* 50* 11 6

864.2Bank of America Merrill Lynch 23 22 67 7 8,437.6 Bank of America Merrill Lynch 23 22* 30 1 2,798.1 Mediobanca 23* 15* 11 -11 326.7Alantra Partners SA 22 34 69 20 3,168.4 Jefferies LLC 20* 32* 33 13 2,545.4 Morgan Stanley 22 36* 12 5

162.61,749.9BNP Paribas SA 21 14* 72 -14 5,375.0 Oaklins 20* 14 33 -7 450.9 JP Morgan 21 27 13 2

Clearwater International 20 17 73 -9 859.1 Numis 20* 19* 33 3 1,755.6 NG Finance SAS 20 70* 14 11

70.4Citi 19 26* 74 20 7,907.3 Lincoln International 19 24 34 6 471.1 Capitalmind 19 17* 15 -5 173.6GCG 18 81* 78 60 220.3 JP Morgan 17* 22* 36 7 4,438.9 Alantra Partners SA 17* 24* 18 4

489.9Houlihan Lokey 17 14* 80 -6 3,198.2 BDO 17* 7 36 -26 257.5 Daiwa Securities Group Inc 17* 19* 18 -1 218.1Goldman Sachs & Co 16 18 85 8 9,839.1 Kings 16 32* 38 18 0.0 Clearwater International 15* 17* 21 1

0.0JP Morgan 15 16 88 4 9,490.3 Goldman Sachs & Co 13* 19* 39 9 3,386.4 Lincoln International 15* 13 21 -7 122.6Grant Thornton 13* 12 94 5 303.2 Lazard 13* 17 39 7 2,981.6 Degroof Petercam-IMAP 14 14 23 -1

74.6Lincoln International 13* 13 94 6 980.2 Ernst & Young LLP 13* 11 39 -8 1,296.1 Deloitte 13 7 26 -10 0.0Redwoods Dowling Kerr 12 25 97 41 18.9 Houlihan Lokey 12 12 41 -5 861.2 Cambon Partners 12 8* 30 -3

0.0110.0Lazard 11 9 121 -15 11,026.4 Knightsbridge Bus Sales Ltd 11 - 47 47 0.0 Oaklins 9* 22 31 14

Clairfield International 10 11 128 19 856.3 Benchmark International 10 10 52 3 13.5 Clairfield International 9* 8* 31 -2

1,115.7BDO 9 5* 129 -108 527.5 RSM Corporate Fin LLP 9 8* 54 -2 114.5 Natixis 9* 6 31 -7 483.6Oaklins 8 8 131 -7 801.9 Bruce & Company Ltd 8 30* 57 36 0.0 Societe Generale 8 11 32 0

441.9KBS Corporate 7 10 142 22 0.0 Grant Thornton 7 6 83 9 291.7 Ernst & Young LLP 7 24* 33 19 500.5IMAP 6 7 157 -5 2,302.2 Deloitte 6 4 89 6 1,279.0 KPMG 6 3 39 -12

2,220.0Ernst & Young LLP 5 5* 192 -45 4,249.9 Rothschild & Co 5 2 95 -24 6,498.4 PricewaterhouseCoopers 5 12 41 10 1,095.9Rothschild & Co 4 3 270 -39 16,039.3 Redwoods Dowling Kerr 4 8* 108 52 22.3 Credit Agricole CIB 3* 8* 42 9

3,645.8KPMG 3 1 358 -35 7,639.7 PricewaterhouseCoopers 3 5 118 42 1,277.7 BNP Paribas SA 3* 4 42 -1 2,170.1Deloitte 2 4 371 73 5,488.4 KPMG 2 3 130 35 2,666.8 Lazard 2 2 44 -14

Value US$mil2,587.1PricewaterhouseCoopers 1 2 412 85 8,980.6 KBS Corporate 1 1 142 22 0.0 Rothschild & Co 1 1 115 -12

Financial AdvisorRank2019

Rank2018

# of Deals

YoY Chg# of Deals


Rank2019

Rank2018

# of Deals

YoY Chg# of Deals


Rank2019

Rank2018

# of Deals

YoY Chg# of Deals

EMEA Rankings Full Year 2019 | Mid-Market M&A | Financial Advisors

European Involvement Mid-Market (MM3) YoY Change ($) 0% United Kingdom Involvement Mid-Market (MM4) YoY Change ($) -13% French Involvement Mid-Market (MM5) YoY Change ($) 3%

www.refinitiv.com/dealsintelligence

Eurohold, the fi rst independent company for several years, is positioned seventh in the Thomson Reuters annual rankings 2019 in Mid-Cap M&A transactions in Spain.

RANKING

To access previous rankings go to www.eurohold.com

Full Year 2018 │ Mid-Market M&A Up To US$500m │ Financial Advisors

Spanish Involvement Mid-Market Rankings (MM8)

** Fee exposure indicates each firm's mid-market fees from deals valued at up to US$500m as a percentage of its overall M&A fees in the relevant region.† Imputed Fees shown are based on completed deal activity, whereas deal count & rank values are compiled based on announced deal activity.

Visit http://dmi.thomsonreuters.com to View Archives and Order Custom League Tables

0 0 - - - - - -Albia Capital Partners SL 38* - 2 2 ▲ 0 0 - - - 2.0 37* 100.0RSM Corporate Fin LLP 38* - 2 2 ▲ 0.3 0.2 - - - 1.0 52* 100.0JP Morgan 38* 20* 2 -5 ▼ 728.0 622.4 7* -39.9 ▼ 5.3 23 21.1

-Danske Bank 38* - 2 2 ▲ 0 0 - - - 2.0 37* 100.0

348.9 307.2 21 -65.3 ▼ - - -Ferber & Co GmbH 38* - 2 2 ▲ 0 0 - - - 1.0 52* 100.0

- - 3.0 32 100.0

Greenhill & Co, LLC 30* 55* 3 2 ▲ 0 0 - - - 4.0 26* 100.0Evercore Partners 30* 41* 3 1 ▲ 728.0 622.4 7* 318.4 ▲ 11.6 6 33.2

GCA Corp 30* 41*Grant Thornton 30* 41* 3 1 ▲

Source: Thomson Reuters*tie

Seabird Capital SL 30* - 3 3 ▲

Credit Suisse 38* 29* 2 -2 ▼

DNB ASA 38* - 2 2 ▲

Mizuho Financial Group 30* - 3 3 ▲ 135.8 114.4 - - - - - -BBVA 30* 6* 3 -17 ▼ 0 0 44* - - 2.0 37* 30.3IMAP 30* 20* 3 -4 ▼ 2.0 37* 100.0

0 0 -Barclays 38* 55* 2 1 ▲ 222.6 178.0 - - - - -

3 1 ▲ 56.9 50.0 35 184.5 ▲ - - -0.3 87 100.0

-1 ▼

14

0 00 0

11

33.2

96.0

64.1

100.0

▼

1

14

▲Change (%)

32.1-

1,863.1

-100.0

Societe Generale 25* 33* 4 1 ▲ 763.5 664.0 6 - - 5.4 22 29.5

Clearwater International 25*

0 0 - - -0 0 44* - -

1,360 18,849.0 47.6▼

100.0- - -

0 44*

0319.3

GBS Finanzas SA

2

20.8

100.0

3.411.7

- -265.2 22 16.7 ▲

20*20*

AZ Capital

Rothschild & CoBNP Paribas SA

▼

Norgestion

Santander Corp & Invest Bkg

2.0 37*Clairfield International 20* 41* 5 3 ▲Nomura 41* 4

5*

▲▲

0 -Goldman Sachs & Co 25* 29* 4

-2.9 100.0

-- - -

44* -29* 4 0 -Fidentiis Equities SV SA 25* - 4 4 ▲

20.9467.6 400.0 13* -20.8 ▼33

- -

7.7 11*

▼20.5 16.5 39 - -

665.9 547.8Citi

2018

12*

Deutsche Bank

10

Eurohold SL

Deals

Lazard

KPMGErnst & Young LLP

8

Banco de Sabadell

2017

PricewaterhouseCoopersFinancial Advisor

UBS

101

-

14.3

Rank

Lincoln International

14*

8

20*

BDO

467.6

▼

8

-9

18

24

276.7

-5

520.5

1,222.8

562.3

9▼

7.3

9.9

2

Advisor

13

-

▼

2018

2 ▲

47

6

10.1

▼

18

7.3

100.0

26.0

5

▲

4.6 24

2.4

6280.4

5

▲

27

16*

10*

3-96.1

1,623.9

-

10.1

3.4

16*

▲1,027.1

8.4▼

25*

2

16*6*

0 44*

-28.1

400.0

4

0.6

▼

Euro mil

▼

Rank

302.3

-13.6

16.8

11.0

25* 4.4

383.5

825.7 684.3-

38

▲

29*

-4

▼

9

▲

13*

214.7

5

5

278.6

19-3

Spanish Mid-Market M&A up to US$500m by Rank Value Range

Jan 1 - Dec 31

100.0

Spanish Mid-Market M&A up to US$500m by Target Industry

13*

26*

https://www.thomsonone.com

34

Rank Value

Jan 1 - Dec 31

100.0

-29*

5.8

4.5

18.6

51.8

4

9 -52.9 20*

1,174.5

-

Oaklins (FKA M&A Intl Inc)

0.7

4.0

-35.2

3

11.7

235.0

0

▲

Industry Total

550.6▼

6

Mediobanca20* -1 ▼

CFI

0

25

1

Rank

-

6 -2

-13*

-▲

▲1

16*

▼

607.2

7.0

26

▼

50*

▼

23*

-

77.5

25* 5 013*5

977.320*

25*

8100.0

228.0

6.8

284.2

5.8

41* -

4

31.2

7

▲

225.30.9

334.3

-58.8

# of Deals per Advisor

Exp. (%)** Fee

1

Rank Value per Advisor

MM8 - Undisclosed Values & Values up to US$500m

2

7 ▲

100.0

▲ -69.2

44

9

-17.4

3

# of Deals US$m

17.1

Fees

1,880.5

9*

0

▲

▲

448.6

11

44*

0

5*

2,196.5

1.1

-88.8-

18*

5

15

0

226.033*

3

Rank

2

16*

459.716

0.39

12*

6

23*

1

2018

▲

-4

# of

▼

1713*

93

18

16*

454.7

-

10*

41

-28.5

1214*

Imputed Fees (US$m) †

13.9

Deloitte

Alantra Partners SA

Morgan Stanley

Rank Value

10

1

20*

30.134.2

-14.522,174.2▲78

▼ 8

3

10425.9

0

498.6 436.5 12

-1

▲9

383.7

▼

10

390.5

Change in

25

11

480.1

▼

57.8

-1

▼

-53.8

77

-1152

-

50

100

150

200

250

300

350

400

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

# of

Dea

ls

Ran

k Va

lue

(US

$b)

US$200 - 500m US$100 - 200m US$50 - 100m US$0 - 50m # of Deals

26.1%

21.6%

11.5%

8.7%

8.2%

8.0%

3.7%

3.6%3.5%

2.6%2.5% Real Estate

Financials

Media and Entertainment

Healthcare

Industrials

Energy and Power

Materials

High Technology

Retail

Consumer Staples

Consumer Products and Services

11

Rankings | 2018

*tieSource: Thomson Reuters

7.71 ▲ 18* -0.0 10*-

31* 20.9-

2.0

25 100.0

4.4

Mediobanca 32* 31* 2 0 - 0.0 0.0 18* - - - -Mizuho Financial Group 32* - 2 2 ▲ 0.0 0.0 18* - - - - -

18* - - 2.0Danske Bank 32* - 2 2 ▲ 27* 100.0Ferber & Co GmbH 32* - 2 2 ▲ 0.0 0.0 18* 40* 100.0DNB ASA 32* - 2 2 0.0 0.0 18* -

--▲-

0.0 0.0

-

27*0.3 72 100.0

▲- -

0.0 18* - - 2.0 27*

3

-0.0 0.0

0.0Albia Capital Partners SL

Morgan StanleyIMAP 24*

47.417*

33 0.0Grant Thornton 224* 45*

0.0

0.0

32* - 2 2

3

** Fee exposure indicates each firm's mid-market fees from deals valued at up to US$50m as a percentage of its overall M&A fees in the relevant region.

15*

20*

24*

GCA Corp 32* 31* 2

36*BBVA

Goldman Sachs & CoSeabird Capital SL 24*

3

RSM Corporate Fin LLP

41.70.0 18*

- 1.0 40*

-5

100.0

233.8 ▲ 2.0

16 -

18* - -

0 - 0.0 0.0 18* - - - -

--

1.0

-32* - 2 2 ▲ 0.3 0.2

3 ▲

▲

▲

-1

39.2

0.6

-

15

100.0Societe Generale 32* 27* 2 ▼

24*

0.0 0.0 18* - -

3.0

-

22*

7.3

Jan 1 - Dec 31

24*2 45.7

3

24* 345*

▲

3.1 24 16.9

Spanish Small-Cap M&A up to US$50m by Target Industry-3▲▼

-0.0

▼

▲

▲

▼

246.7

-1

--

2

▲

▼

-4


17*AZ Capital 31*

Clairfield InternationalLincoln International

UBS

Fidentiis Equities SV SA

24*

Greenhill & Co, LLC

04 0

15* 31*

Clearwater International

320*

4

5

Lazard 20*

20*

15* 17*

22*

5

15*5

Deutsche Bank 15*5

63

GBS Finanzas SA 13*31*

BNP Paribas SA 15*

22* 2

Rank # of Deals

▲

185

PricewaterhouseCoopers

Ernst & Young LLP83

# of

71.3

6*

440

1

513

17.2Fees

9

10

Exp (%)US$m Euro mil

# of Deals per Advisor2017Rank Value

9

Spanish Small-Cap M&A up to US$50m by Rank Value Range

95.3

3.3 45.2

** FeeChange (%)

3

▲

0.7

0.0

15*

10*

85.7112.7

2018

12*

8

▼

-1

28.0

0.016

7

-5

-1 ▼

▲1411

Santander Corp & Invest Bkg


11*

4

▼1

▼-6

▲

7

BDO

KPMG

CFI

4

7

9*

Norgestion8

5

Rothschild & Co

Banco de Sabadell

11*Alantra Partners SA

413.7

0.0613*

0.034.2

9*

0.0

120.4

Spanish Involvement Small-Cap Rankings (MM8a)

AdvisorRank

-16.1 ▼

3-20.55▲

12.1▼

67.7

14

-

3.4-

4

254.3

22*

† Imputed Fees shown are based on completed deal activity, whereas deal count & rank values are compiled based on announced deal activity.

Nomura

-

18*

--

-

4 199.7

-

-71.9

18*

18* -

-86.1

Rank2

13

1

100.0

29.3

38.2


32.1

-

20*

68.4

-

27* 100.0

-

27*56.9

0.0

94.07.9

100.0▲

0.0

30.1

41.4

20.8

6.3

38

- -

100.0

17*

-

33.2

0.0

6

27* 100.0

100.0

0.0

26

▼

0.0

-30.5

27*

100.0

11.0

7.97.0

-

-

-

2.9

-

20*

12*

- 1.9

3.3

-

0.0

-

3.4

-

12

4.0

18*▼

18*

11

1 86

2017Rank Value per Advisor

Eurohold SL

Rank

Deloitte3

Financial Advisor

2

Change in

0.0

17.11.5

141.2

0.0

-

1

▼

24.1

-

-

-18*

▲165

5

MM8a - Undisclosed Values & Values up to US$50m

6

Rank Value

16

-210*

2

-7

Deals

▲

▲

3

88

0.0

0.0

-

-

11.7

18*

-

0.0

-

0.0

▼▼▲

18*

▼

0.0

-

2,116.8

8*-

150.0

39▼

-

-

- 7

-

0.0

10.0

0.0

2.0

2.0

17*

8.0

-

-

304.2

2.0

-

0.0

16.5

9.5

18*0.0

0.0

20.5

Full Year 2018 │ Small-Cap M&A Up To US$50m │ Financial Advisors

-

100.060.0

-

18*

31*

2018

207.2

-

418*

-

Industry Total 1,247

0.00.00.0

0.0

18*

0.018* -

0.0

▲

0.0

4

99 2,489.8

0

-12

22* 445* -

27.8

5.2

-96.1

18*

8*

30.3-18*

-

4.0

3 ▲-1

12.3

18*

Jan 1 - Dec 31

-

22*

21.8%

15.2%

11.4%11.0%

9.3%

7.7%

7.6%

4.2%

3.9%2.9%2.6%2.4% Real Estate

Industrials

Financials

High Technology

Healthcare

Materials



Energy and Power

Retail

Consumer Staples

Telecommunications

-

50

100

150

200

250

300

350

$0.0

$0.2

$0.4

$0.6

$0.8

$1.0

$1.2

# of

Dea

ls

Ran

k Va

lue

(US

$b)

US$0 - 10m US$10 - 20m US$20 - 30m US$30 - 40m US$40 - 50m # of Deals

11


French Involvement Mid-Market Rankings (MM5)



Baker Tilly International 35* 108* 7 5 ▲William Blair & Co 35*

100.0HSBC Holdings PLC 39* 75* 6 3 ▲ 566.9 476.2 24 - - 11.8 20* 59.0CM-CIC Conseil SAS 39* 61* 6 2 ▲ 41.7 34.0 - - - 3.9 53* 100.0

Eurohold SL 39* 40* 6 -1 ▼ 19.1 16.0 - - - 5.3 40* 100.0Oloryn Partners 39* 108* 6 4 ▲ 0.0 0.0

100.0

100.00.7 238* 100.015.1 12* 79.940* 7 0 -

810.0 688.4 13 276.7 ▲4.8 4.0 - - -

576.0 501.1 23 - -

Translink Corporate Finance 39* 23* 6 -7 ▼100.0

Aurignac Finance 39* 33* 6 -3 ▼ 0.0 0.0 - -

13.3 18*

Rank Value

Capitalmind

14

15

100.0



4.2Moelis & Co 35* 75* 7 4 ▲

11▼

-

100.0

100.0

100.0100.0

- -

-

Rothschild & Co

-185*

-40▲

3*▼

3,440.6

15*

16.6

▼

-229

4.8

2017

2

31

-90.0

▲

772.7

-5

26

47*

13*

19

44*

10

▼

100.0

10

28

▼ 24

DC Advisory

590.0

▼

-17.8

▼

31.0

228.9

52.7BDO

11.8

26

12*

7

30

15

▲

▼-

8

Invest Corporate Finance SAS

3*

Cambon Partners


Ernst & Young LLP

Deutsche Bank

Mediobanca

3

28

Adviso Partners SAS 29* 40* 8 1 ▲

▼ 21

▲

-

80.8

29* 53* 8 3 ▲ 47.3 40.4 - 616.7 ▲ 5.8

859.3

131.7

40*

▲100.0

-11.6

*tie

Morgan Stanley 35* 47* 7 1 ▲ 1,301.0 1,110.9 6 79.8

47

▼

6.0

35.3 30.0 - - -

-599

16

20*

1

▲27

829* 2

563

100.0

8.2


Source: Thomson Reuters

423.012.8

UBS

2

20

Advisor

7.4

3

Bryan Garnier & Co

100.0

107.1

▲

32.6

4,088.0-2.23,045.3

255.06

-95.9

259.3 100.0

8100.0

▲

-8

Grant Thornton 29* 47* 8

107.0138.0

86.3 ▲ 6.5 32* 100.0Vulcain SAS

29*

2

23

26*26*

Houlihan Lokey

1308.2

18

100.0

Euro mil

In ExtensoBNP Paribas SA

▲

19

-

Rank

15*

21

660.1KPMG

19

34

9

7

2

297.1

619.6

Change (%)

9

▲

-5

3,580.63,599.7US$m# of DealsFinancial Advisor

3,086.5

2018

2

38

70.8

100.0

100.081.6

1

French Mid-Market M&A up to US$500m by Rank Value Range


100.0

1 -22.0

872.3

2 ▲ 0.0

30,062.9▼

# of

-36.2

40.4

66.2

56.0

100.0

28.6

9.6

** Fee

Jan 1 - Dec 31

Exp. (%)

▼41.539.1


100.0

62*

20182018 Rank Value

734.7

154.1

4

Fees

39

▼

495.0

12*

French Mid-Market M&A up to US$500m by Target Industry Jan 1 - Dec 31

100.0

Lazard

-

19

700.0

▲

▼▼

15*

25

760.611

24*


3332

JP Morgan

Alantra Partners SA

4

24*

2

Credit Agricole CIB

-9

15*

12*

Deloitte

Natixis

Linkers

22

▲

100.0-66.7

10

1,478.97

12*

26* 123.1

118*

▲ 125.0

0.0 247*

15*

-

219.41,380.8

1,749.7

Societe Generale

4.8

19

31*

Degroof Petercam-IMAP

▲

4.6

▲

1411.0 ▼

299.3

23*

110.0

Canaccord Genuity 29* 28* 8 -3 ▼ 164.7

▲

1,604.9

100.0

2,428

100.0

19.6

828.3

15*

579.5

▲

7.8

12

21.8

12 19.7

-

▲

4.2

53*

5.6

▼

12Messier & Associes

692.8

Rank

34

535.9


Clairfield International


-78.4

42

Change in

1

59

39.5

6.5

3.5

32*

14.4

37*

▼

-19

56

3-

-5

63.0▲

474.0▲

11.1

-23.3

▲-

13.3

1,351.3

▼ 0.0

4

-

-

1,266.9

2 ▲ 804.1

▼

-

Rank1 ▲

5.1 4.5

870.10.5

5

3.0

9

9.6

Deals

▼

4

-5

133.0

▼

120

-80.0 ▼

19*

▲ 7.9

61*

6*

▼

0.0

0.03.9

15.6

- - - 0.5 247*

-1

-

1.6

8

13.4

-

10 -21.9

11.1▲ 1,192.4

-

4.7 46

-

14

▲

▲ 17

15.1

- 6.0 35*

- - - 3.6 58

40▼

13.3

8 66.7

361.1

23

-10

▲658.0

▲1,022.1

7

35*

35,301.0

29

▼

434.6

11

24.0

Rank

40.0

13

-

163.1

7.6

14.9 12.0 -

24.7

1,053.4

100.0-

501.918*

6

43.8-

7.5

107*11

▼

13

-8

57.6

-8

15.1

16*

8*

12

16*

9

▼1111

13*

8*

47*

1 ▲

18

6*

-165

2126*

-56.3

▼

▲

20.0

22

45*

0.0

15*14.4-85.0 2648

-

-

Industry Total

-

100

200

300

400

500

600

700

800

900

1,000

$0

$2

$4

$6

$8

$10

$12

$14

# of

Dea

ls

Ran

k Va

lue

(US

$b)


18.6%

14.6%

14.1%

9.9%

9.7%

9.4%

6.5%

4.9%

4.2%

3.4%2.6%2.1% Real Estate

Financials

High Technology

Energy and Power

Industrials

Retail

Materials


Healthcare

Consumer Staples


Telecommunications

8


13.0 23.6 2.5 63 64.1

0.76.6

▼

-

7.0

1.0-

6.5

90*

▲

17

70.8

▼

74*

Canaccord Genuity 30* 33* 7 -25

▲

4.0

Vulcain SAS

Grant Thornton8

7


Adviso Partners SAS44*

13.9

2

-560

8

-1 ▼ 15.2

-

30*30*

4,137.3

11.3

10.0

30*

15.1

19.63.7

▲

11

-

-

12.047.3

26-

616.7

0.01.3

-

-

-

-56.3

209.3

38

0.5106*


289.9

-11

86.3

407.3

4.4

8

-

0.0

▼

UBS 0.0 20.8

-56.426*0.0

1,005.1

4 -

---

▼5

40.4

-

0.0

-

-


Alantra Partners SA8

14.9

Deutsche Bank 91*

▼

126*

7

4,907.8

4.8▲

Jan 1 - Dec 31


5.8 French Small-Cap M&A up to US$50m by Target Industry100.0

227*

12 7.2

46.4220*

89.2-

53

-

87.02

6

1

74*

▼

249.9

0.0

45.0

30.0

US$m

▼

0.0

--

14

13.3

7.2

227*-92.9

▲

-▲

18

11

55.7

13

45

13.7 ▲

700.0

-11.8

-94.9

▼-

-

-▲

▼

-

▲-90.0

-85.9-

▲

40.054.4

-

▲

▼

-21.8

46

7

-61.9

3.3

2018

1Lazard

Rank

▼

Exp (%)1

RankRank Value

141.1 120.1 6619.0

Rank Value

3

10.7

20.4

15.3

12.18.4

▲

-

0.6

▼

▲

# of Deals

-2

139.3

11.0

-

-

0.0

-0.0

33

9.6

-

0.0

9

55.3

▲

-6

21.8

29

▲

678.9

-19 ▲

▼

13

1


-

12.0-47

15*

Industry Total

91*

26*36*

26*

68*

40*

Baker Tilly InternationalMessier & Associes

▼

▲

JP Morgan 26*

2511

▼11

Deloitte6*6*

5KPMG

Ernst & Young LLP26*

2,269

2* 402

-3

1

30

101

440-

4*

▲

-6-5

▼▼

▼

26

32 ▲6

28 -155 ▲

18.6

18

22

19

8*

16

-4

18*40*

12*

0.0

340*

7

-8

▲▲

18

-125.7

-5.1

▼24.0

▲

▼

▲

20.0

31

1924

▲

5

-

18*12

▼▲

1.6

Oaklins (FKA M&A Intl Inc) 20

Linkers

15*

24*Clearwater InternationalBryan Garnier & Co

DC Advisory

517

-610

9

1422

French Small-Cap M&A up to US$50m by Rank Value Range

17* 20

24

6

▼

Rothschild & CoFinancial Advisor


2017

8

Deals

1140

29

2*

7

# of

3


-3

22*

Change in

-42

Rank

25

In Extenso

14Societe Generale 12*12*12*

10

Clairfield InternationalCambon Partners

Natixis

4*23



BNP Paribas SA 8*

Credit Agricole CIB

11

14

BDO15*

2

Capitalmind15*

23*23*

17

Degroof Petercam-IMAP

2321

17*

21

9

9.6

10

3.0

46

30

43

16

45

58.9

31.9

21.5

28.6

Jan 1 - Dec 31

Advisor

38.6

8.0

2018

42.9

100.0

81.6

87.8

100.0

16.0

89.6

23.2

100.0

** Fee

64.0

100.0

26.3

9

48

100.0

17.1

-

Rank

222*

100.0

74.317

28100.0

12.0

41.7

100.0

0

5

-16

-6

0.0▼

Fees

-

▼

French Involvement Small-Cap Rankings (MM5a)


13.7

2018

0.5


56.9

1.1

44.8

Euro mil

61

13.3

111.6

0.0

▲

2

▼

▲

▲

▼

0.0

6

2

▼

7

100.0

98.1

3

5

49*

15

0.0

11.1

0.0

Change (%)

-

9.04.24.5

10

35.0

4.8

176.947.4

9.8

53.3

10.5

12.8

40.1

-12.7 ▼

4 72.3 ▲-73.7

-

36.8

96.35.0

15.9

-82.7

-

113.7 99.20.0 - - - 8.0 20*

90* 100.0William Blair & Co 39* 44* 5 0 - 0.0 42.3

47 100.0Oddo BHF SCA 39* 40* 5 -1

19.3 16.41.63.4Clipperton Finance SARL 39* 36* 5 -2 ▼ ▼

8 - - 4.6 36* 41.4100.0

Houlihan Lokey 39* 56* 5 1 ▲ 49.6 41.241.7 34.0 16 - - 3.9CM-CIC Conseil SAS 34* 56* 6 2

20 10.0 ▲ 4.7 35 100.0100.0

Translink Corporate Finance 34* 22* 6 -7 ▼ 35.3 30.00.0 0.0 - - - 3.6Oloryn Partners 34* 140* 6 5

- 5.5 ▲ 5.3 32 100.0100.0

Eurohold SL 34* 36* 6 -1 ▼ 19.1 16.00.0 0.0 - - - 6.0Aurignac Finance 34* 29* 6 -3

24.4%

12.0%

11.3%

10.1%

8.5%

7.6%

5.8%

5.3%

4.0%

3.9%3.8% 2.5% High Technology

Healthcare

Industrials


Real Estate


Financials

Energy and Power

Telecommunications

Materials

Consumer Staples

Retail

Government and Agencies

-

100

200

300

400

500

600

700

800

900

1,000

$0.0

$0.2

$0.4

$0.6

$0.8

$1.0

$1.2

$1.4

$1.6

$1.8

$2.0

# of

Dea

ls

Ran

k Va

lue

(US

$b)


8





Macquarie Group 38*

30* 50.03.5 35* 100.03.2 38 48.51.3 49 100.0


100.0

0 0 57* - - 1.8 48 100.0

2017

4

14 -26.6

32* 55.4

384.4▲

▲

65.1▲

-77.9 ▼ 3.6 32* 43.4


Exp. (%)** Fee

Deloitte

Alantra Partners SA

Baker Tilly International

Rank Value

-

1

7

188.6222.2

1

-78.5

3.6▲

2

2017

36.3

4.8 23 47.53.0 39* 49.23.9

100.0

# of

▲

Change in

25* 4 0

5.7

60*Lincoln International

23

3

-457

133.0 3325*

▲0

32* 38* 3 0 -

4.2 25

174.0 163.1 - - -259.1 238.0 24 - -105.4 95.4 - - -

Clairfield International 38* -

▲

3 ▲38*

38* - 2 22 1 ▲

0 - -

574.8 ▲ 3.6

38* 2 -1 ▼

100.0

3 -1

346.4 19 102.2 ▲ 3.4 37 100.0

35.7

Eurohold SL6

1.6

11

12*

8*

▲14.7

▼ 16*

11.1

43

▼100.0

53

5

6

0

41

▲

228.1▲ -

24*24*

713 725*

BNP Paribas SALazard

47* 5

16*

▲14*

7

1,366.2

▲

14

88.5

11380.9 ▲

-2

1,057.6-36.6

-34.9

45

8.310.9

60*

3.9

1

-

876.9

10*12*

▼

0



14*

24*

Euro mil

▲

1,366.0

73.3

758.0

▲

690.7

-

6

Santander Global Corporate Bnk 25Oaklins (FKA M&A Intl Inc)

11

10

Advisor

18.1

11.0

6 -85.8

15

Mediobanca

BDO

Rank Value

13.2

0

3

73

77

18

12

1,414.6

5.1

10*

-

5

▲

▼Change (%)

8*606.3

-99.3

-22.7

Rank

9

35

5.5 20

▼ 158.0

-423.2 17 448.2

▼

4

1

0

3

17

- -

1010

479.3

Morgan Stanley

Norgestion10*Montalban8*

1,188.2 5

20.225,078.0

-

▲

579.2

6

13*

▲

642.4

2

0 0 - -

3

Jan 1 - Dec 31

53.1

100.0

Deals

100.0

Rank

1

32* 100.0

904.2 792.3 8

19

526.8

25*

10.8

17.0

203.5

▼

6.8

▼

1,312.7

9

39

640.3 ▼

11.1

▲

-44.4

-0 0 - - -

2 2 ▲

Industry Total

1

1,510.1▲

2

2017

1,813.8

100.0

-2 ▼ 590.6 521.1 13 -39.9 ▼

7.0

0 - - - 4.0

3 ▲ 48.2 43.3 - - -

-

26

64.3

28.0

▼

697.2

60* 2 1 ▲ 0 0 -

397.9

13.4▼12

15

6.1

-12.9

-1 ▼ 205.8 189.1 -

18*

-

70.5

▼

79.0

▲

▼


12.6

100.0

-

-

15

4-

100.0

1,436.4

Rank

18

11

-23.4

14* 7 0

1.5

▲

74.4

110

30.3

8 7▼

5

▲

4*

12*

8

18*

59.1

7.8

100.03.0 39* 100.0

22,295.1

12

3

9

521.9

▲18*

28* 18* 4

3

25* 2 -2 ▼

Jan 1 - Dec 31

84.4

▲


▲

66.9

9

25*

87.0

7.8▲

-

6

-

▲

04.0

30*

4*

27*

27*

10 -

145.0 -

262.4

10

1,645.3

100.038.5

222.0

6.8

100.0

-

▼769.8

# of Deals US$m


1

16

100.0

10

-

11.1

2.7

13* 48.84.3 24 100.05.0 22

3

850.7

0

0 0

-

142.2 135.0 - - - 4.0 27* 100.0

-

78.3

2.7

Fees

-

-24

▲1,638.0

Rank

2.4

-7

28*

▲

1 ▲-1 ▼

9

14*

375.2

23*

-98.9

▲

-

10

1

521

-

1,216.6

2

12

▲

0.8 71*

20.3

▲

5

89

76.3

5

1,231

28*

24*

CitiArcano Asesores Financieros SL

Ernst & Young LLPKPMG


CFIJP Morgan

12*

CBRE Holding SAS 32* 38*

8

20*

AZ Capital 32* 25*

Goldman Sachs & Co

38* -

IREA Corporate Finance 38* 60*

IMAP20*20*23

2016

5

2

16*

10*

Credit Suisse 32*

RBC Capital Markets 32* - 3

32* - 3

BBVA

Haitong Securities Co LtdClearwater International 28* 47*

PJT Partners IncSociete GeneraleHoulihan LokeyEvercore PartnersNomura

Rothschild & Co1

4 2 ▲ 0

▼1,211.4 1,061.4 7 30.5 ▲541.1 502.4

162.9

Deutsche BankGBS Finanzas SA

162800.0

Source: Thomson Reuters*tie

Cushman & Wakefield Inc

UBS

▼ 0 0 57* - - 2.0 43* 13.2

Itau Unibanco 38* 38* 2 -1 ▼ 394.4 335.1 18 180.9 ▲ 2.5 42 100.0

440.1

18*

4.1

100.0

-

16*

13.4

33

38.8

15.4

▲

- 53.4

21

59.2

8*

308.4 270.0 22 228.8

- 2.0 43* 100.0Grant Thornton 38* 60* 2 1 ▲ 142.2 135.0 - - - 0.5 77 100.0Jefferies LLC 38* 60* 2 1 ▲Bank of America Merrill Lynch 38* 38* 2 -1

-

50

100

150

200

250

300

350

400

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

# of

Dea

ls

Ran

k Va

lue

(US$

b)


21.0%

18.6%

13.2%10.8%

10.3%

5.5%

5.3%

4.7%

3.6%2.8%2.2% 2.3% Real Estate

Industrials

Energy and Power

Financials


Consumer Staples

Healthcare

Materials

High Technology


Telecommunications

Retail

11

Rankings | 2017


3 ▲

-

3

▲

22 3,423.2

20.8

19

4.3

14*

25*

25*

23

Jan 1 - Dec 31

4.010.2

-

3.5

-

-

-

0.0

-

--

▲

-12

35*

15*35* 4

4

218* 4 0

▼

3

0.02125*

18 -

12.0

3,045.3

0.025* -8

0.0

0.00.0

9

14.2

0.0 0.0-

0.0

14.1▲

Industry Total 1,099

18*6

50*

-2.7▲

2017

22*

38.7

-

6*

-

2-

-96.7

103.6

0.0

-

-172.4

2.4

-

16.3

8.9

--

0

42.5

18.1

16*

0.0

0.0

0.0

7

19*

46.6

5.0

12.0▼

25*

25*

-

39.0

0.0

▲

52.5


6

6


-18Deals

52168.3

7.0

5.1

-17.0

-

-

5.1

49.2

2.7

15.4

11.2

13.4

7.825*

88.5

▲

11.4

-

4.0

▲124.0

Rank Value

BDO

Rank

Deloitte1 79

2016Rank Value per Advisor

-1.5

0.8

4.2

-

6*

18*

6*

-25*

- 1.6

8.2

6.016

4.0

310.2

6.0 11*18*

49.1

100.0

22*36.5

100.0

11* 16.5

100.0

100.011.133.5

11.1

100.0

41*22*

100.014* 47.2

93.0

84.4100.01

43.8

950.9

100.0

100.0

20*

64*

11*

63.2

38.6

4

2967.2

10

-

▼

-52.23

▲

-

▲

9.5

2

Rank

-45.6

1

381.7

196.6

25*-

8

-

4.1-


320*-68.917▼

4.1

2 ▼8.0

2016Rank Value AdvisorFees

6*Rank

2017Change in


147.2Financial Advisor

752.5

0.08

Rothschild & Co

Eurohold SL

Ernst & Young LLP

Norgestion

4

7

9

BBVA8

5

Baker Tilly International

10*Alantra Partners SA10*

Santander Global Corporate Bnk


12*12* ▲

▲51.6

45 ▲

▲20

▲

1

0.0

0.0121.9

0.0

2

▲4 ▲

-

9

0

13*6*

98

18*

15

9*

11

10-

15

28.6

146*12

-47.5▲

21 14 87.0▲

140.0141.7 127.6

79.0


24.9

6.5 34.2

** Fee

▼Exp (%)US$m Euro mil

5


Rank # of Deals

11*

331

1

464

KPMG64

# of

PricewaterhouseCoopersChange (%)

15* 2IMAP 14*

7

70

BNP Paribas SA 14*11*

14* 18*Morgan Stanley

20*

6

UBS 22*

20*

17* -

Clearwater International 22*JP Morgan

CFI

05 1

17* 8

Citi

-3

15* 5

29*

MontalbanArcano Asesores Financieros SL


GBS Finanzas SA

26*

22*


RBC Capital Markets▼

Cushman & Wakefield Inc

6

▲

3

▲

▼

100.0


▼

Spanish Small-Cap M&A up to US$50m by Target Industry

617*

3 48.2

4

26* 3-

▲22*

Jan 1 - Dec 31

5

8.0

6.0

4.0

-

▲▲

5

43.3▲ - 4.2-

30* 66.72.0--


0.0 0.0 25*

29* - 2 2▲

29* - 2 2

Mediobanca ▲Societe Generale 3-Lazard 26* 18* 3 -1

Deutsche Bank 29* - 2 2 ▲Houlihan Lokey 29* 29* 2 -1 ▼AZ Capital 29* 50* 2 1 ▲

0.0 0.0 25* - -0.0 0.0 25* - -0.0 0.0 25* - -0.0 0.0 25* - -0.0 0.0 25* - -0.0 0.0 25* - -

21.73.0 27* 49.22.0 30* 27.4

22* 25.03.9 26 50.03.0 27* 36.1

15.4%

15.4%

14.4%

9.5%

7.1%

7.0%

6.7%

6.2%

6.2%

6.1%

4.6%Media and Entertainment

Real Estate

Financials

Energy and Power

Industrials

High Technology

Healthcare


Materials

Consumer Staples

Retail

Telecommunications

-

50

100

150

200

250

300

350

$0.0

$0.2

$0.4

$0.6

$0.8

$1.0

$1.2

# of

Dea

ls

Ran

k Va

lue

(US

$b)


11





Linkers 43* 29* 6 -6 ▼Macquarie Group 43* 190* 6 5 ▲

0.0 0.0 - - -723.3 639.1 12 - -

6.0 35* 100.06.4 33 67.4

190*

14

4

-34.7

100.0

100.0

100.0

30.5

19

0.0

278.7

▲

93.7 - -

-

100.0100.0

-

8.3

100.0

5.0

100.0

100.0100.0

18.620.7

63.6

100.076.2

22

- - -

14

▼

215.0

0.0

0.0

239.5▲

254.3▲

100.0-

- 7.5 29* 100.0

100.0

1218

▲

19

16

-85.5 ▼

63

0.5

100.0

17.5

▼

0

3

2,016.2

186.0

2,909

- -

805

- 3.9 58* 100.0

7 3

Alantra Partners SA

100.0

Ernst & Young LLP

-6

- -

100.0

116.7

▼

10.8

-643

▲ 32.1

100.0100.031.2 28.9

14

23

2.7 2.5

163.811.7

-

5.6

-

▲16

479.8

44*

9

1,407.3

Rank

11.2

100.0-

174

15.5

1

4*19*

212

1,552.1

Change in


Rank108

KPMG

218

255.8

▼

▲

165.4

61* 10

- -

43*

Financial Advisor


▲ 104.4

18.4

34.0

21.1

3,905.7

19.4

17

-10

Deals

762

- - - 8.5 25

21

-18 ▼ 421.1

▼

-

13

▼

4.6

292.8

81*

109.5 1615

11▼15.8

1,326.9

68.0

-6

14

1 41.252.82,866.03,217.7

43523.8

33*

8

-2▲

16.2

-2

-▲

▼

9

61*

16*

-2 ▼

17

-

0.0

577.114

4

24

24

-

8.6

580.8 505.5

7

Lazard

20

-99.5

▲

20.2

17.0

22*

3.7

44.7

20

98.8335.1

72.7

54

▲

19*70.4

8

2014

2,214.6 ▲15.6

-

2 ▲ 11.7 10.0 - -

100.0

Drake Star Partners 30* 190* 9

39* 40*Mediobanca 43* 127*Oddo & Cie SCA 43*

10

- -228.1 192.8 48 - -

11

-71.5 ▼

6 4

▲

28.1-

--

▲7 -1 ▼

- -

7*

Banque Degroof Petercam SA 22*

25*27*

0 - 596.1 526.6 14 - -

AP Management 43* 33*

Edmond de Rothschild Hldg SA

16*

26 -89.8

3

Cambon Partners


-

22.9

-

23

-

▼

2▲

5,305.7 4,748.4

17*

Translink Corporate Finance

Capitalmind

3

-

▲

7

-4

2.5 793.0 67*2.9 74

- - - 8.3 26

323231

-74.7

43* 7

19*

10*

38

31.012

23*

-2

11 29.2

188.4

▼1223*

18.1

-2.45

▼

27

77*

2.3

207.0

77* 29*7 3 ▲ 48.2 43.3 -

77*

73.3 64.5 -

IMAP

Exp. (%)Change (%)US$m# of Deals

Jan 1 - Dec 31

50.5

RankRank Value2016

4*

20172017 Rank Value2017

1 24,398.4Fees

20.1

1


French Mid-Market M&A up to US$500m by Target Industry Jan 1 - Dec 31

100.0


54.3

Advisor ** Fee

9.3

99.4

3

138*

65.1

46.1


7*

▼

▲

UBS

▲

15

▲

382.5 5.4

23 ▲▲

15*

21

141.3

446.5

-

93.8

4

▼

10

-1834

8

▼

6

0.0 19

9

11

23

1,799.0

▲

12*

27 54.8511.0 18 - - 7.2 31

25*

- 10.0

27*

156*

11

▲38,852.5

▲ 1,174.7

0.0

▲6 2 ▲

18.1 17.0

1,609.3▲

CFI 30*

▼

77*

Goldman Sachs & Co 36*39*

65.0

111.9

▼ 0.0


Societe Generale

Deloitte


Global M&A

Bryan Garnier & CoBDO

MBA Capital SARL 30* 16* 9 -10 ▼ 0.0

66.0 59.1

▼

1,035.1

34,377.9▼

10.0720.4

94*JP Morgan 30* 22

Aurignac Finance 30*

Eurohold SL 39*Clipperton Finance SARL

33* 9 0 - 12.0

990.0 9 - - 6.3 34

13

-

8.2

8 - - 8.0

366.9

- -

50

▼

8 5 ▲ 0.0 0.0

15

40*

9

▼24

1127* -8

583

49.2

17.8


Source: Thomson Reuters

512.02,473.4


7

19*

-3


DC Advisory

Citi

Pax Corporate Finance

Nomura

9

RBC Capital Markets 39*

Euro mil

NatixisBNP Paribas SA

-4

-2

6

2

17*

27*

12*

328.2

-

15.7

- 7.5

- - -

5.4 40*

6 -3 ▼ 74.9 67.1 - - - 5.0 44*

8 -8 ▼ 577.5

36*

59.3

▲386.0

0.617.1

2

# of

20-

Rank

15*

10*

1,848.5

2.2 83* 13.423*

2

Credit Agricole CIB

18

27*


3.9

▼

100.0

59.3

33.4

70.628.2

100.0

100.0

100.0100.0

- -

-

32.4

1.3

8.6

Canaccord Genuity 30* 48* 9 3 ▲ 824.2

INGMessier & Associes 36* 48* 8

▼5

Rothschild & Co

-196

▲476

-87.6

▲

-39.6

18 13

6

-4

9 -8 ▼ 1,114.7

Industry Total

*tie

0.7

100.0Grant Thornton 43* 29* 6 -6 ▼ 0.0 0.0 - - - 0.6 245* 100.0Adviso Partners SAS 43* 94* 6 3 ▲ 5.6 5.2 - - - 4.9 47* 100.0

-

100

200

300

400

500

600

700

800

900

1,000

$0

$2

$4

$6

$8

$10

$12

$14

# of

Dea

ls

Ran

k Va

lue

(US$

b)


16.7%

16.4%

15.7%

9.3%

8.8%

8.7%

5.9%

5.6%

4.5%

3.0%2.8% 2.7% Industrials

High Technology

Real Estate

Energy and Power


Financials


Healthcare

Consumer Staples

Telecommunications

Materials

Retail

8


▼-13.3

48.2

21.1

77.0

0.0

29.2

28.1

20.2

Euro mil

6

# of Deals

-3

5

31.0▼

-

▲RBC Capital Markets

Aurignac Finance 29*

0.0

37.1

20.0

22.0

8.3

2017

10.0


-34.518.3

Exp (%)

92.4

100.0

100.0

Rank Value

39.1

31

-4

0

-2

2.7

▼

-4

-4

3

▲

0.0

0.0

21.1

0.0

2.5

7112*

31*

22*

15*

20

7.5

104.4

42.5

100.0

13

100.0

81.1

80.0

89.7

5

38*

4

3

22.3

Jan 1 - Dec 31

74.1

** Fee

46.3

3.4

95.549.8

77.2

100.0

33.0

100.0

100.0

100.0

63.6

68.0

100.0

100.0

2

2017Rank

45

29.6

31.1

9*

16

15

60.7

38.2

7


35.8

15*

DC Advisory

11*

10*

13*Alantra Partners SA 65*13*11*

10Oaklins (FKA M&A Intl Inc)

Pax Corporate FinanceCapitalmind

Natixis

10*23

Ernst & Young LLP

Societe Generale

Clairfield International 8

2

2414*

# of

3


-23

304

1

15*

Rothschild & CoFinancial Advisor

Credit Agricole CIB


14

French Small-Cap M&A up to US$50m by Rank Value Range

18 13

23

9

14*-316

22*22*

26*

19

7 -2019*

178*

21Clearwater International 20


22*

16*Lincoln InternationalIMAP

BDO

▲

▼

▲

104

16

▲

▼▲

0.0

▲

▲

22.9

180.6 0.5

-

0.0

112.0

4

99.8

-18.0

21.3

-

▼

36*

▼▼

17

-4

-6

21

-

31*

12

0.0

25*

14

13

1718

11

-3

12

Change in Rank

2016

20

12

18

90

1

439

Rank

12

▲

47.3Lazard

-14

2 426

-15Deloitte

2017

1

4

BNP Paribas SA67

5Cambon Partners

8

Bryan Garnier & Co19*

2,717

▲

KPMG

CFIDrake Star PartnersING

65*25*

112*

40*

37*

4Deals

▲12

25

3334

6

29 -18▼

▼

43.3

▼

▼

▼▲

97.4

-

9

▼

▼


9▲

48*

101.9

17.1

15.8

0.9

112.5

77.6Fees

17.0

13.4

13.9

14.5

1.3

14.0

40.1

2.1▲

-93.4

Rank Value

83*


Change (%)

50.2

AdvisorUS$m

1

-76.617.1

-39.4

110.6Rank

39

-

110.70.0 -0.0

98.8111.993*

▲

-35.3

-

▼

▼▼

▲

▲▼

▼-89.8

17*

116.7

83.8

34 -74.7

---

▼▼

-

-8

-

24

- -

90.2

-0.0

-

33.965.9

-20.8

229.4

-

-▲

-

-

-

14

9*

100.0

18

116

4.0

88.8

20.2

5.0

11.7

-

7.58.5

-

-

-

-

--

12

11.0

14.2

20*-

8 6

27

5,411.4

10.0

-

-13.9

-

36 100.0▼

25 100.0

100.0

20*

26*

111*215*

19

8.6 23

4.617

10.8

32*

100.0

100.0

4,795.8

30.5

French Small-Cap M&A up to US$50m by Target Industry

1,007.8

10.0

24

5.4

6.0

Jan 1 - Dec 31


30

57* 20.728*

Translink Corporate Finance11

0.0

93*

-

93*

14-

0.0

0.0

Industry Total

0.0

MBA Capital SARL 16*

▼


UBS

34*

5

-7

▼

31.2

0.0

0.0

-21

1

32.10.0


-

0.00.0

-636

▲

0.0

0.0--

-

8

-41.0

25

-

3.9

3

-

▼

-

--

-

-

▲

-6.5

3 ▼

330.6

97.92.0


28.9

17.0

3.019.4

370.7

29* 178*

929*29*

-

-

▲

25* 22*1825*

9

28

-

-12.0-10

8

0

▲

▲

435 --

93.7

▼

10.09 11.7

Edmond de Rothschild Hldg SA

-6

1022*

▼

73.366.0

7

Global M&A

Banque Degroof Petercam SA11

▼Canaccord Genuity 37* 40* 6 0Grant Thornton 25* 6

6 2-6Linkers 37* 6

▲Clipperton Finance SARL 34* 36* 7 -1 ▼Eurohold SL 7 3

Oddo & Cie SCA 37* 65*

33

34* 65*64.5 9

0.05.1

60* 100.02.9

100.0

2.5

31

964.7 ▲105.3 ▲

17.018.1

59.1 10 134.9 ▲0.0 - - -

12.3 11.0 - - -0.0 0.0 93* - -

54.80.6 221* 100.0

Adviso Partners SAS 37* 87* 6 3 ▲ 5.6 5.2 - -30.9 ▼ 4.9 35 100.0

24.4%

13.4%

10.9%9.7%

9.3%

8.0%

6.5%

5.8%

5.2%

4.5% High Technology

Industrials

Healthcare



Real Estate

Consumer Staples

Retail

Financials

Energy and Power

Materials

Telecommunications

-

100

200

300

400

500

600

700

800

900

1,000

$0.0

$0.2

$0.4

$0.6

$0.8

$1.0

$1.2

$1.4

$1.6

$1.8

$2.0

# of

Dea

ls

Ran

k Va

lue

(US

$b)


8





Duff & Phelps 32* - 3 3 ▲ 0 0 - - - .2 93* 100.0Itau Unibanco 32* 49* 3 2 ▲ 140.4 124.6 30 -49.8 ▼ 5.4 21* 100.03i Group PLC 32* - 3 3 ▲ 147.9 129.9 - - - 1.4 55* 100.0

CBRE Holding SAS 32* 39* 3 1 ▲ 185.6 166.0 28 -49.6 ▼ 2.6 37 100.0Albia Capital Partners SL 32* 32* 3 0 - 0 0 - - - 1.5 53* 100.0PJT Partners LP 32* 22* 3 -3 ▼ 93.8 85.0 36 -83.6 ▼ 6.5 16 100.0

Bank of America Merrill Lynch 32* 30* 3 -1 ▼ 723.7 656.7 10 14.5 ▲ 4.7 25 23.5Globalscope 32* 26* 3 -2 ▼ 15.0 14.2 50 - - 1.4 55* 100.0Banco BTG Pactual SA 32* 49* 3 2 ▲ 72.0 64.1 - 91.5 ▲ 2.1 42 100.0

-55.5 ▼ 2.3 41 25.3UBS 32* 49* 3 2 ▲ 345.0 321.1 19 - - 4.6 26 36.8Macquarie Group 32* 49* 3 2 ▲ 392.3 350.5 16 247.5 ▲ 2.5 38* 12.6

100.0

79.4

-38

13.1

721.3Rothschild & Co0

224.1

9

12*

6*

▼7.9

▼ 9


7.0

42

▼

Barclays 32* 22* 3 -3 ▼ 358.9 313.0 18 -10.3 ▼ 10.5 11 100.0

Haitong Securities Co Ltd 24* 49* 4 3 ▲ 0.6 0.5 - - - 1.0 57* 100.0

100.0

Deloitte

Banco de Sabadell

Citi

Exp. (%)

66.8▼

3

ONE to ONE Corp Fin SL

5

3.0 35*

Industry Total

489.2 ▼

Oaklins (FKA M&A Intl Inc) 24* - 4 4 ▲ 0 0 - - -

Credit Suisse 32* 32* 3 0

469.7 416.0

8* 0

42

7

65.0

1

-

5

17.9

26- -

-5.6

6

112*

64

15

8*

0

13.4

10*

5

1

▲-

67

5.7

2

12 - -48 -

713.2 641.415.0

4 4-

-

▼Change (%)

14

32* 4 1

707.7

2.0 43*

- 30.5 28.1 -

34

▲

56*

2016# of

▼

Change in

-5

33.0

-1

14

2.0

267.4

-9

-3

15 -

1,481.7

28*

Jan 1 - Dec 31

100.0

44.1

Deals

97.3

Rank

1

43* 100.0

0 0 56* - -

100.0

2016

▼

5.0

200.0783.5

4.9

448.4

5*

45

Rank Value

GBS Finanzas SA 22IMAP

9

CFI

Norgestion6*N+1

14*

8.8 52

1,357.5-61.1

8.0

▲

-68.6

15*


99.2

32* 4

10-26.8

Rank

6

183.8-

33.837.8

7

70.7▼

** Fee

100.0

94.3

▲

984.8

▲

▼26*15*

▲17

1



10*

24*

Euro mil

16.7

▲

9.6

-

1,327.2

▼

205.1

39*

4

2

▲14

-10.119,757.3

▲

▼

Jan 1 - Dec 31

14

72.8

▼

▲

-12.3

▲

25

14

342.4 307.0 20 -65.6

-2

12*

18.2

66.3

9100.0

▼

0

3

-29 459.0

6 -10 ▼

5*

2

15*298.4

14*

17,817.6

100.0

-35

39*

20*

1,101.4

4.0▼

20*20*24*

-16.7

5

17

▲

37.33.4▲

4

-

8

12*

2,398.8

10*

24*24*

40.3

2.5AZ Capital

BBVA

Rank Value

-36.6 11.5

34

100.0

20.4

▲

22*

565.9

2015

8*


33.3

4-6.9

42.7

1,135.6

Rank

31

18

3173.3

12* 5 -45


90.7

▼

▼ 16.9

Fees

8

3

15*

14*15

7

1,526.1

-2 ▼

4 ▲-5 ▼

13.0-11

11

3.6

44

Advisor

4

3

5.5 19*

-▲

32* 4 1

5.5 19*

- 4

8 10.5

Livingstone Partners

2016

1

-6

14*

Eurohold SL

38* 100.03.3 33 100.01.8 48* 100.05.4 21* 39.1

24.4

-8

▼1,260.8

Banca IMI (Intesa Sanpaolo)Lazard

154.4

▲ -

69.129.9

217.9

12.5

100.0

55.3

▲714.9 638.0 11 161.7

0 -24*

▼

15*20*

-

▲

12*▼

3.2

53.9

2324

2,156.2# of Deals US$m

3

13

111

88.4

6

▼

100.0

4


245.56

49* 510* 520*

-

-24*

7.9

3223

-41.6

▼

18.7

▼ 6*

-

631.1

768.7

14*

1,078.0 960.6

-3

375.5 349.2 13.1 6*

▲314.0 284.0 21 -77.5 ▼775.0 705.2

0

▲

-72.58*

Morgan Stanley

Source: Thomson Reuters/Freeman Consulting

*tie

Credit Agricole CIB

Goldman Sachs & Co

BDOJP MorganBNP Paribas SAMontalban Atlas Capital

Ernst & Young LLPKPMG


Santander

-2

1,139

Lincoln InternationalUniCredit

Rank

-

50

100

150

200

250

300

350

400

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

# of

Dea

ls

Ran

k Va

lue

(US$

b)


18.3%

16.2%

15.3%10.3%

6.8%

6.7%

6.0%

5.8%

5.6%

4.4%2.8% Energy and Power

Real Estate

Industrials

Financials


Retail

Telecommunications

High Technology

Healthcare

Materials


Consumer Staples

10

Rankings | 2016

*tie


49* 100.00.6 52* 100.0

16* 72.76.0 8 57.11.0 40* 100.0

100.02.0 30* 10.90.2 80* 100.0

0.7 51 21.21.4 39 100.0

5.6 5.2 24 - -

2.3

1.5

4.0

0.80.0 0.0 - - -

13.0 11.9 21 - -

0.0 0.0 28* - -0.0 0.0 28* - -

0.0 0.0 28* - -0.0 0.0 - - -

15.0 14.2 20 - -0.0 0.0 - - -

▼0.0 0.0 - - -

30.5 13*

Noqca Partners 32* - 2 2 ▲Mooreland Partners LLC 32* 41* 2 1 ▲Interchina Securities Ltd 32* - 2 2 ▲Barclays 32* 25* 2 -1 ▼Houlihan Lokey 32* 18* 2 -3 ▼Duff & Phelps 25* - 3 3 ▲

-Lazard 25* 13* 3 -4 ▼

18* 3 -225*

▼Albia Capital Partners SL 25* 25* 3 0

▲28.1-25* 25* 3 0

Spanish Small-Cap M&A up to US$50m by Target Industry

81.6-

- 16*

3.2

0.0

100.0

20

Jan 1 - Dec 31

-55.5 29 25.3


3

41.9

Rank Value

0.0


-

1.8

-

▲▲

-

▲

-

-

15*

▲

BNP Paribas SA

17* 25* 417*

- 3Globalscope 25*

▲

▲

Credit Suisse


IMAP 12*

8*1

Livingstone PartnersLincoln International

ONE to ONE Corp Fin SL-4

4 1

Haitong Securities Co Ltd

UniCredit

4

3

25*

2

6

GBS Finanzas SA

-1▲

Citi16*

15* 6

2

35*

21.0

Fees

KPMG56

# of

PricewaterhouseCoopersChange (%)

2015Rank Value ** Fee


91.9

7

1

38

14 0 9.65

2274.3

29

10

23

2234.3

4▼

28*25 ▲18*

8

8*

1

8*35*

7618*

8-4

0.0

▼

▲ 33.8

41.10.0

▼

-

37.8

37.80.0

18*8

15.633.0

0

6

▲

16*

6

9-48.2

-

4.05.9

Rothschild & Co

10*BDO10*

Banco de Sabadell

N+1

12*12*

Montalban Atlas Capital

Norgestion

Ernst & Young LLP

Santander

4

6*

8*

BBVA8*

5

4

-

5

-0

-037.3

-

0.0

29.2

- -

Financial Advisor Rank2015

7

1

3

Euro mil

28*

248.6

28*

1

-1262.6

Rank Value per Advisor2016


57.4

Rank

28*

-

23*

14.7

15

11*6

42.94

# of Deals per Advisor Imputed Fees (US$m) †

57.2

3

1*Rank

27.6

2.610

70.35.74.5

100.064.3

0.0

2,835.9

12.6

72.8

25*

10.7

26.8

30* 58.8

21.8

5.92.55 93.7

100.0

36 100.0

40*30*

37*

Exp (%)

42.41* 54.6

100.0

100.0

40*

25*

30*

2.5

45.0

2

Change in

1Rank

Deloitte

Eurohold SL

97# of Deals

0.010

-4

-7

-30

▲

322.0

▼

-

52.1

83.2 ▲

6.4-

7.0

▼0.0

5.4

-

-

14.7

7.4

33.0-

- 4.0-

9

10▲

2.0- 1.0-

- 1.8-

25*

16.7

Deals

▼

-

▲

▼3

17*17* 25*

13*

6*

17* 25*

7

▼


-

8.8

28*0.0

-

-17

-15.012

-

Jan 1 - Dec 31

-72.5

43.5

0.0

US$m

0.0

0.0

15.0-

-

100.0

0.0

0.0- 1.0

290.8

BCMS Corporate Ltd

2016

32* 41*

16*

4 1


2

0.0

▲

0.0

0.0

-

4 -4 2.0▼

▼ 10.9

2.3 1.5 37*4- 10.3

22 142.2

2.5

Advisor

28.1

0.0

47.7

10.013*30.526 -95.9

5 -8 ▼

100.080.8

- 2.0

0.6

13* 2 ▼ 0.0Clearwater International 32* -5

▲▲

18* 3 -2 ▼JP Morgan 17* 41* 3Morgan Stanley

436.0

-▼ 977.3 ▲

-71.8 5

Oaklins (FKA M&A Intl Inc) 17* - 4 4

CFI 8* 4

-17* 41* 4 3

-▲0.5

0.0 0.0

28*49* 100.0

-

2.0 100.0

36.84.6 14

5.4-

1.0 40* 100.0

29.22.7

11*21*

28* - -

7 ▲

0.0 28* - -UBS 32* 41* 2 1 ▲

-21.6 ▼ 0.8

-

1.0

0.0 0.0

▼ 15.6 14.0

▲▲

18*

0.0 -

-0.00.0

0.0 0.0 -28*

Global M&A 32* 35* 2 0 -

Translink Corporate Finance 32* 25* 2 -15.0 13 76.9▼ 0.0 -

-

--1PJT Partners LP 32* 25* 21.0 40* 47.6Banco BTG Pactual SA 32* 41* 2 1 ▲ -0.0

-- -0.0 0.0 -

-

1.0 40* 18.51.0 40* 100.0Poyry PLC 32* - 2 2

2 2Macquarie Group 32* -Itau Unibanco 32* -

Industry Total 1,028 -26 ▼ 3,139.0

40* 100.0Goldman Sachs & Co 32* 18* 2 -3 ▼ 0.0 0.0 28* - - 4.0 16* 13.23i Group PLC 32* - 2 2 ▲ 60.7 53.3 6 - - 0.6 52* 42.9

- 240.2 35.0

18.9%

13.0%

12.8%

11.5%

10.0%

6.7%

6.7%

6.0%

5.1%

4.1%2.6%2.6% Financials


Energy and Power

Real Estate

Industrials

Healthcare

High Technology

Materials

Consumer Staples


Retail

Telecommunications

-

50

100

150

200

250

300

350

$0.0

$0.1

$0.2

$0.3

$0.4

$0.5

$0.6

$0.7

$0.8

$0.9

$1.0

# of

Dea

ls

Ran

k Va

lue

(US$

b)


10

Morgan Stanley

Rothschild

0 100.0

31

-

100.0-338 -6.4

3.5

23* 6 1 ▲9* 6 5

-14.07*

100.07 5

2015

▼

100.0

1,226.8 1,105.4

Rank

408.3

273.2 250.0

1,691.1

5.4 1518*18

450.61,510.8

▼

29*

Advisor

11▼

740 6 673 9 9 32 7 ▼25

16

▲

2,735.5

7*

62.0

10*

5.3

375.0

5.5

23.6

--37.5

416.06

0

--

-▼ -62.0429.4

4.923.1

▲

41 218*18*

-44.8

100.0

▼

-2

18*

13*

267.2

95

Jan 1 - Dec 31

Rank

0

86.7

AZ CapitalSantander

-3

Spanish Involvement Mid-Market Rankings (MM8)Full Year 2015 │ Mid-Market M&A Up To US$500m │ Financial Advisors


2

Rank Value

-59.3

3

1121

2014

▼2

6.6

▼14.5

5

42*


90.2

-9*9*

5.3▲

7*14

11

1,770.2

Citi

30

-18

-13

5* 15

-2

2

2


7*

890.0

1

▼

12

0

15*

21.9

100.066.762.759.5

90.3

Financial Advisor

3


Deals14.4

▲87.3

73

14

US$m

13

▲Rank

** FeeExp. (%)

▼

▼

▼

5

16*

Eurohold SL

42*13*0

8

3.4

599.3 -59.4

20-8.2 ▼

179.4 3.9

15.6▼

Altium Capital Limited

1010

4.88

14.6

115*

3.7-▼

9*

▲

4

1Rank

KPMG


IMAP

26*29

Deloitte

2,457.4# of Deals

14Ernst & Young LLP


22.9

0

34.9

43*

▼

8-23.7

9.3

36 21*▲ 13.8

Fees12

▲3*

BBVA

47.165.4

2

10*

6Norgestion

GBS Finanzas SA

-5

1,393.9

160.0

5*

62

Rank Value

Montalban Atlas Capital 45*N+1

9

Barclays

Lazard14BNP Paribas SA7*

1,057.5 6

1,601.5-46.5

-3

10

8 16*8

13*

28.9

▼

▲

-30.6

▲

▼Change (%)

1

3

▼

1,183.3

-

31.0

▼

356.0

36*

9

13*

6

▼

100.0

2015

10*

8

9*

8

318.0-6.4

41.345.2

2

994.5▲

▲

393.313*

▼

4.0

1,216.0664.8

6-

2

7-1 -75.6

▼

284

Euro mil

45*

2015# of

▼

Change in

-

50

100

150

200

250

300

350

400

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

# of

Dea

ls

Ran

k Va

lue

(US$

b)

17* 3 -436* 3 0 -

429* 6 -5

21*7.5▼

5 6 -17 ▼21* 6 0 -23*

23*23*23*29*29*31*31*

-4 ▼

631.8 568.1 13 138.1 ▲349.0 315.0

▼700.9 618.0 10 -40.5 ▼

0 0-

19,197.5

11740.6 673.9 9 -32.7 ▼24.0 22.0

- - -975.9 910.4 8 -

17* 3

▼

100.07.6

22 -

3.3 32*

- 4 4 ▲

-10 405.7

- 5

Spanish Mid-Market M&A up to US$500m by Target Industry Jan 1 - Dec 31 2015

1,136

-97.4

5 ▲36* 4 1 ▲

▼

6.7 12

41.218*18*18*23*23*

5 0 -52* 5 4 ▲Nomura

-18.221,334.6

100.02.1 40 5.3

CFIBlackstone Group LP

Banco de Sabadell

4.8

GlobalscopeAguirre Newman SA

SantanderBDOGoldman Sachs & Co

† Imputed Fees shown are based on completed deal activity, whereas deal count & rank values are compiled based on announced deal activity.** Fee exposure indicates each firm's mid-market fees from deals valued at up to US$500m as a percentage of its overall M&A fees in the relevant region.

Bank of America Merrill LynchHSBC Holdings PLCCredit SuisseLincoln InternationalONE to ONE Corp Fin SLAlbia Capital Partners SLTranslink Corporate Finance

23*

Industry Total

*tie


21 - -

48.0▼

-

36*36*36*36*36*36*36*

396.3 375.0 19 - -0 0 - - -0 0 - - -

-82.2 ▼48.3 45.0 -

31*31*31*

0 0 - - -352.6 317.5

- - -- 5 5 ▲- 5 5 ▲

23* 5 0 -

2.5 38 100.04.1 25 100.03.0 34 100.011.4 7 100.08.5 10 22.11.6 48 21.93.3 32* 100.01.4 52* 100.01.5 49* 100.01.5 49* 100.01.4 52* 100.0

0 0 - - -19.9 17.7 - 158.4 ▲

0 0 - - -

-68.6 62.1 34

-

0 0 - -- 3 3 ▲

52* 3 2 ▲12 63.8

2 -2 ▼

0 0 - -

646.5 577.0 ▲162.1 143.0 - - -

0 0 - - -

36*36*36*

- -

217.0 193.0

Deutsche BankEvercore PartnersGlobal M&ANatixisCushman & Wakefield IncLivingstone PartnersCW Downer & CoBaker Tilly InternationalSociete GeneraleJP Morgan

23* 2 -3 ▼- 2 2 ▲

42* 2 0 -52* 2 1 ▲

- 2 2 ▲42* 2 0 -

- 2 2 ▲- 2 2 ▲

29*21* 2 -4 ▼

0 0 - - -248.5 218.5 - -31.3 ▼495.1 438.7 14 -61.8 ▼

1.9 43 8.98.9 9 53.02.8 36 100.01.0 55* 100.04.7 23 100.01.0 55* 100.0.5 61* 100.01.0 55* 100.00 78* 0.0

2.6 37 6.4


24.9%

11.7%

11.4%11.3%

11.0%

6.8%

6.6%

6.6%

3.4%2.4% 2.4%

Real Estate

Energy and Power

Financials

Industrials


Healthcare

Materials

Consumer Staples

Retail


High Technology

Telecommunications

Visit http://dmi.thomsonreuters.com to View Archives and Order Custom League Tables https://www.thomsonone.com

10

Rankings | 2015

2.4

0

66

0-

-

Rank Value

--

-7.7

27

10.091.8

▲ 10.5

79.5

-

3

95.6

-6.4

13*▲

BDO

16* 31* 516*

3 ▲

N+1 13*

8*19*

Globalscope

14*

Deloitte64

# of

PricewaterhouseCoopersFeesChange (%)



▲Euro mil

345.3

1 ▼

148.7▼▲

1

53

14 34.92 ▲

208.2

266

-5

22*

▲

- 37.63

▲3

31* 688

17*

0 15

-▲13

807

8-3

105 ▲22*

8

1

0

79.44.0

13*

55.6

0

-4.5

▼ 3.7

21

0

-

27*

▼ 10

-

▲

BNP Paribas SA

7*GBS Finanzas SA7*

Lazard

IMAP

12 710*

47*

4


Citi

Ernst & Young LLP

Norgestion

4

7*

7*

-

3.15.33.510*

66

6

▲

2015Rank2014

Financial Advisor Rank

5

26

18

2

Rank

50.0 9


4

-

6

27*

Rank Value

▲

3 325

Rank

49.1

9.0

10.8

11*

100.0

68.9

1100.0

2.78

2014

0.7

15

.1

Exp (%)


** Fee

16 100.0

9.1100.0

17* 68.8

54.257.39

100.022.6

- 4.0

16*Banco de Sabadell

21

5

▼ 12

226.9

▲

26.0

100.0

Morgan StanleyRothschildBBVA

14*

Eurohold SL6

13*

KPMG


97# of DealsChange in

--▲

Deals

▼

011

-15

20

6.9

164.9 147.75.94.2

6.6

-15.3

39.8 ▼

0

2 5

65.4

185.0-67.0

▲ 3.3

▼ 10.2

-64.211

▲

8.9


7.9

42.0

31.0

45.2

204.3

Altium Capital Limited

US$m


2

71.3

0

Jan 1 - Dec 31

Advisor

49.1

41.3

8

188.0

-12 ▼ 24.0 20 30.4

12.8

22.027*05 1 ▲ 17*- - 3.3

5 -3 11.6 23 -41.6 ▼▼7

2.0 28*57.0 27.7

16* 8* 5 -3 ▼ 224* 15.416* 5 5 ▲ 0 0 26 100 0 -

50

100

150

200

250

300

350

$0.0

$0.2

$0.4

$0.6

$0.8

$1.0

$1.2

# of

Dea

ls

Ran

k Va

lue

(US

$b)

*tie


Jan 1 - Dec 31 2015Spanish Small-Cap M&A up to US$50m by Target Industry


2,780.0 17.6 ▲

Globalscope

151 3,088.6876


30.7Industry Total

2.5

1.0253.2▲

-

26.0 23.0108.2 97.1

16* - 5 5 ▲ 0 0 - - 26 100.0CFI 16* 14* 5 0 - 0 0 27* - - 3.0 22* 100.0AZ Capital 22* 22* 4 1 ▲ 19 - - 2.0 28* 37.0Goldman Sachs & Co 22* 47* 4 3 ▲ 4 148.2 ▲ 3.2 20 3.6Barclays 24* 22* 3 0 - 44.0 40.0 14 - - 2.0 28* 25.3Credit Suisse 24* 14* 3 -2 ▼ 68.6 62.1 7 64.9 ▲ 3.3 17* 100.0Lincoln International 24* 22* 3 0 - 48.3 45.0 11 - - 1.4 35* 100.0ONE to ONE Corp Fin SL 24* 10* 3 -4 ▼ 0 0 27* - - 1.5 33* 100.0Albia Capital Partners SL 24* - 3 3 ▲ 0 0 - - - 1.5 33* 100.0Blackstone Group LP 24* - 3 3 ▲ 0 0 - - - 7.7 6 67.5Translink Corporate Finance 24* 47* 3 2 ▲ 19.9 17.7 21 158.4 ▲ 1.4 35* 100.0Global M&A 31* 31* 2 0 - 0 0 - - - 2.8 24 100.0Natixis 31* - 2 2 ▲ 0 0 - - - 1.0

0.837* 100.0

Nomura 31* 47* 2 1 ▲ 93.2-

5 - - .3 6584.50 27* - - 1.0Livingstone Partners 31* 31* 2 0

100.037* 100.0

CW Downer & Co 31* - 2 2 ▲0

- 3.00

▼- - - .5

31* 10* 2 -5 22*45*0

0 27* - 16.5100.0Baker Tilly International 31* - 2 2 ▲

0Santander

00 0 - 1.0 37*- -

6.8HSBC Holdings PLC 31* - 2 2 0▲ .5 45*24.4

- - -Aguirre Newman SA 31* - 2 2 37*0 - - -0▲

15.4%

15.0%

14.2%

13.8%

13.5%

9.3%

6.6%

6.0%3.1%2.3%

Financials

Energy and Power

Consumer Staples


Real Estate

Industrials


High Technology

Materials

Healthcare

Retail

$0.0



10

Euro mil

80.2

▲

▲

102.6 ▲Change (%)

1,489.2

▲

1,109.7

133.4

22

Change in

22

2

1,437.4

-

4.2▼

-1

-1,072.0

6

56

Rank Value

11*▼

9

1310

Morgan Stanley 29.0

841.7-

1,210.71,635.6

-6

5.014

5.4

1,100.0▲

▼30

16

-

15*

▼

7

2,337.5 1,776.4

15.2

2014

7

▲28

21

1410

# of

Rothschild

5*29

-27.313*8*

11 0

8.7Goldman Sachs & Co 4Mediobanca

384.8ONE to ONE Corp Fin SL

10

GBS Finanzas SA

Rank

4

7

12 21.1

-

1,040.1

▲

1,129.2

17*

10

13*

10*

▲

Eurohold SL

Ernst & Young LLP


▲443

▲

12

▼

7-22.7

12.5

39 23

Norgestion13*N+117*

15.5 591

17*

3

240.3

63.7 50.3

329.81,257.9

Deals

2

12.31

1110*


Rank Value

57.2

US$m

Jan 1 - Dec 31

Rank2014

-22.8


90.3

2014

851

2013

Deloitte

2,900.5# of Deals

519

15

2343.0-46.1

Fees32

▲ 8.5BBVA


308.917*

59.7

51.4100.057.4

100.0

91.9

** FeeExp. (%)

▲

1,776.8

814

- -7

▼

4

13*▲

▼



75.3

55

▼3

11.3

▲9.5

2

▲

287.27 ▲

62

2375.9


7*

805.2

1

▲

12

395.8

3 3

313▲

7 9.5

-58.2

8

10*

-4

10 -

139.81,375.6

3,149.7 2,398.28.4

100.0

▲BDO

100.041.3Credit Suisse

17*

33*

8

100.0

85.32533

16.51,368.3▼7

9

17*

▲

3,848.0

210.7

49.8

8*

7

15*

29*

73

291.99

8.3

1,122.5 50.8

15

12-64.7 ▼

1,458.2 10.6

▼ 52.09

15 0

▼ 18.3

100.05

17*

KPMG


Rank

5

▲

3

83.7

Advisor


BNP Paribas SA

32*

Financial Advisor

24 11*

35.5-4

▲

-46 -23.2

16.1

-

9

100 0

Rank

▲

2

2 1,701.7

12

5

7*Lazard

13*496.7

Santander

689.0

10* -3

33*

4.3

8

10

4.6 -

50

100

150

200

250

300

350

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

# of

Dea

ls

Ran

k Va

lue

(US$

b)

*tie


† Imputed Fees shown are based on completed deal activity, whereas deal count & rank values are compiled based on announced deal activity.** Fee exposure indicates each firm's mid-market fees from deals valued at up to US$500m as a percentage of its overall M&A fees in the relevant region.

5*37

Jan 1 - Dec 31 2014

0 0 69* - -0 0 69* - -

306.4 238.5 31 -63.6 ▼599.1 468.9 16 - -421.8 309.3 21

26* 100.0

-UniCredit

533*

1,294.8-

23*6

Deutsche Bank 23*

427.5

Itau Unibanco 27* - 4 4 ▲ 490.717* 4 -3 ▼ 530.8 386.9 17 -56.3 ▼ 5.7 19 100.0

- 3 3 ▲ 348.2

-59.2 ▼ 5.6 20

260.0 28 - - 4.5

22

▼11.25 3

11.0

290.0

ONE to ONE Corp Fin SL0

▲▼

-3▲

2.9

90.0 70.3 51 -26.4 ▼

24* 5 -1 ▼

-80.6 ▼ 4.8 24

43* 2 1

155

15.2

17*

33*Banco Espirito Santo SA

23 -2.0259.8

26 4 -1

15.76

Barclays 27* 43* 48* - - 5.2 37.1AZ Capital 27*

Industry Total 48.3▲

100.0

Spanish Mid-Market M&A up to US$500m by Target Industry5 3

JP Morgan184

▲

122.3

33* 29* 3 0 -

6.462

27*

Banco de Sabadell

19 - - .9 56

3.3436.8

▼

13.6

-82.2

39

100.0

▲17* 2 -5 ▼

-

3.0 36▼

2 32*

Societe Generale 27* 10* 4 -5

40*

▲

994.6160.5-14.6

100.0

Banca IMI (Intesa Sanpaolo)

▲ 338.2

14.5

33* -

73.7

3.3

9.3

187.8 138.0

20

▲ 1.2

26,767.4

27* 29* 4

CFI

29*24.3▼

2 2

394.6

2.8 38

100.0UBS 33* 43* 3 2 ▲ 632.4 465.0 15 5170.0 ▲ 2.7 39 14.9IREA Corporate Finance 33* 43* 3 2 ▲ 35.1 27.5 58 15.5

Macquarie Group

Houlihan Lokey .8 57*

386.0 18

7

20,182.8

100.023*

▲

2.0

69* - -6.7 5.0 66 - -0 0 69* - -

75.4 54.9 54 - -

▲- 2 2

1 ▲ 58.9 ▲265.3 195.0 37 -43.3 ▼

0 0 69* - -

100.0

15.0

63392.1

29 -47.9

1110*

25 - -0 0

▼ 361.5 265.8 26

21*▲

▲43* 2 1

2

▲

306.0 231.2

1,081

▲

5

▲ 501.423*

32*24*21*

CBRE Holding SAS 33*

100.0

42* 6.91.0 52* 100.0

32 -

49

-

250.0

33*38*38*38*38*38*38*38*

4 3 ▲ 113.3 84.1

320.7

▼ 183.2 146.5

358.7

34.7

100.0

38*38*38*38*38*

M&A InternationalIndustrial & Comm Bank ChinaNomuraAltium Capital LimitedMcQueen Ltdgoetzpartners Corp FinanceGlobal M&AFineurop SpACitiSumitomo Mitsui Finl Grp IncCredit Agricole CIBBank of America Merrill LynchDNB ASA

- 3 3 ▲- 2 2 ▲6 2 -13 ▼- 2 2 ▲- 2 2 ▲- 2 2

▲

2 2 ▲43*

3.8 30 100.02.4 40* 100.03.4 31 42.5.1 76* 100.01.0 52* 100.01.8 46 100.01.0 52* 100.0.5 61* 100.04.5 26* 12.02.0 42* 100.01.9 45 65.5

-362.1 265.0


28.5%

18.2%

10.8%

9.5%

8.8%

5.5%

4.4%

4.2%

3.9%2.6%2.2%

Real Estate

Financials

Industrials


Energy and Power

Consumer Staples

Retail

Materials

Healthcare


High Technology

Telecommunications

https://www.thomsonone.com Visit http://dmi.thomsonreuters.com to View Archives and Order Custom League Tables

10

Rankings | 2014

-5

3,139.5

569.8

Deloitte


89.8 65.4

Deals

18

14

3,125.9 2,351.2

▼-35.3

25*133

53*H tti C t Fi 100 027*

33*

44

4,793.0 3,584.9

32

7


Rank Value

63.5

US$m

La Compagnie Financiere

61Exp. (%)

6

▼47*3.1

7

Bryan Garnier & Co

35

7

Rank # of Deals

▲

24

Rothschild 1

Morgan Stanley

55.3

2014Financial Advisor


Ernst & Young LLP

14*

22*

BNP Paribas SAKPMG

19

Jan 1 - Dec 31

11*

18.1 9

▲

16

2013

51.1

3,245.3

1257.1

Fees

17▼42.9 100.0

100.05.9

38.47

▼Lazard

214*

14

-3

59.4

5

-18

14

▲

6.30

17*

18

13

4

12.9

36

▼

-

7.3

15

224

2.1

7

60

Rank


10*

▲

8

3230

▲

▲

415

17.8

54.4100.0

-46.6

-72.5

1

2

2.6

▼

-20.5

525.2 384.5

8

14*

4

Rank

▼

15564.3

12*

7

14*

▲73

272.1

2,015.5

2,452.8

269.5

63.6

100.0

45.3

100.0

100.0

9*

4

368.5 ▲


2,688.4 2,035.1 5

Change in

-17.1377.3

14

1,027.51,365.5

1,525.22,038.0

▼4

17396 9

354.2▲

64.0 46.9

0

100.0

59.2

58*


Rank

100.0

34.5

100.0

100.0

▼▲

-3

57.6

13.4

5 100.0

25

34

64.2

6

-11.0

10

5.9

42.2▲

85.0

▲

20

34.4

▲

11*

27*

-

▲

39

8

17*

14*

20

18*


Advisor 20142014 Rank Value ** Fee


34 26.1

▲

Change (%)

27.8

▲

6 246.748.5

50*

-85.43.01632.1

4.1

30*

-

Credit Agricole CIB

▲

29

6

▲

6

10

8

102.5

10.1

▲

747.9

8

# of

▲


1,556.3

3

Euro mil101.7

5Societe Generale

IMAP

19*

15

9*

11*

25.3

12 4294.9

▲

▲

3

1

▼

772.4

15

0

▼20

1

11

30*

Oddo et CieFinanciere Cambon

559 9420.4

▲

5.2

2020 ▼

51.6

▼3

74

2

6

64

24

-96.9

▲Leonardo & Co

DC Advisory

9

-32.3

2,377.5

19*

85


412 0

546.4

-

100

200

300

400

500

600

700

800

$0

$2

$4

$6

$8

$10

$12

# of

Dea

ls

Ran

k Va

lue

(US$

b)

Capitalmind

-85.6 ▼ 4.5 39 40.2

Hekla Corporate Finance SARL 40* -

Clipperton Finance SARL 40* 120* 6 5 ▲ 75.0 57.2 70 275.0 ▲ 1.9 66* 100.0

2.1 58* 100.0

100.0Moelis & Co 40* 53* 6 2 ▲ 355.1 257.8 38 - -

100.0HSBC Holdings PLC 46* 36* 5 -2 ▼ 130.0 95.0 57

6 6 ▲ 5.3 4.3

2.664.8

2.6 50* 100.0JP Morgan 29* 27* 8 -1 ▼ 1,877.8 1,423.9 8 34.4 ▲ 22.0 7 25.8

Barclays


3.8 42 100.0

Grant Thornton 40* 14* 6 -10 ▼ 57.9 44.8 79 -66.5- 2.6 50* 100.0

Mediobanca 40* 36* 6 -1 ▼ 111.4 80.0 62 -80.9 ▼ 5.9 30* 85.5Eurohold SL 40* 131 - -

▼

-5

35* 46* 7▼

▼

-1

22*

53*Hottinguer Corporate Finance

822.2

100.0

17.9 10 38.2

29*

26

44*

▲


3.5

5

CFI

100.0

27*

24*5.5

▼ 3.8

3.0

1,068.4

Bank of America Merrill Lynch

53.5

12M&A International

134 -75.8

979.4

838.4

27*

16

45.0

9.5

10* -413

81 821.7 ▲

132 125.0 ▲

▲ 469.1

5.1

77.1

-78.8 ▼ 3.1 47* 100.035* 46*

Industry Total 2,751 599

.8 124*

23.4 90

12*27* 13 4.5

24*

2.8

154* - -

2 ▲ 699.0 515.7 17 -30.0 ▼ 10.915.5 12

35* - 7 7 ▲ 69.7 55.5 72 - - .3 241*

8 -2

36*

▲

▼

9.4 22

91

50*

14

-4 ▼

25*

13 2.5

8

▲

▼ 18.9100.0

▼

17396.9

3622*

12

12 277.2

▲ 37*

35* 22* 7

4.99

Linkers ▲

MBA Capital SARL

Citi 29* 27* 8 -1 ▼ 1,230.9 935.2 11

20

100.0

1,097.6

7.0

100.0

0.0

34 82.1

41.3100.0

4 ▲ 1,422.0

Detroyat Associes SA 10.0BDO

▼

19.2 ▲

-23.6

5.6 33 100.0Mazars SA 29* - 8 8

8.4 111 90.2 ▲

3

11.6

*tie

19*

18*53*

0 -

49

-

42.5

100.0

1021

▼

-2

16 -59.1 403.6

534.9 French Mid-Market M&A up to US$500m by Target Industry Jan 1 - Dec 31 2014

18.3

344.7 24 196.5

10

9 -9.24

26

3 ▲ 4.7

▲ 14.9 11.2 104 - -

37,511.9 28,151.1 12.6



27* 9▼ 4.3

154*

▲ 1,117.0

Deutsche Bank

-6

19*

27*

-12.4▲

Easton Corporate Finance SAS

0.0 0.0

64* 6

7.1 5.5 120*

41* 8 2 ▲ 119.6 86.5 58 - -

UBS 35* 18* 7 -8

14

829* 4

▼

▲

Natixis

728.1

559.9

29*

41*Atout Capital 46* 33* 5 -3 ▼ 27.7 21.4 93 179.8 ▲

Credit Suisse

▲

Aforge Finance SA 46*

55.3

Banque Degroof

▼ 185.7 143.2 52 -79.9 ▼

128 -

7 2 ▲ 31.7

1.1

11.8 17

3.5

412.00.0

3.7 43

19 21.8


25.3%

11.2%

10.9%10.0%

9.1%

7.1%

6.5%

6.0%

4.1%

3.7%3.2% 2.9% Real Estate

Financials

Energy and Power


Industrials

Consumer Staples

High Technology

Healthcare


Materials

Telecommunications

Retail


7


9

36.377.9

21

3

▲

0.00.0

4.3▼

2.6▲

▲

23.0

1

-72.3

1# of Deals

25.9

Deals1

Rank

-5

-

62

31.9

Change in # of Deals per Advisor


2.1

100.0

6.3

Exp (%)


5.4

17.6

16.2

2 3

7.1

14

38.7

100.0

13.6

44.261.848.452.0

29.6

19

17

100.0

Rank Value

7Rank

57.5

▼ 4.5

6.1

8.4

20

2013

6.5

12


1013.5

16.0

22

17Rank

47.5186.6

7

Financial Advisor# of

Rank


2

▲

-

26*

1

Ernst & Young LLP 4

KPMG

26*

Santander

611

2

333 3

56

BBVA

Deloitte

14*

18139.8

5

44.0

ONE to ONE Corp Fin SL

Eurohold SLBDO

Credit Suisse

9*9*

Morgan Stanley

3 15.5

14*

5

8

▲6

▲

5 -7*8

14*

▼▲

21.163.7 -

-84.5

11.0

16

- 6

05 5

13*5

Norgestion

26*35*

12 6

5

13*13*

Lazard

CFI

7

16*Banco de Sabadell 4Deutsche BankGBS Finanzas SA 4UniCredit

16*4

18*11*16*

1

40 6

▲0.0

-29*29*

▲

▲

34.6

27.0

0.0

▲

▲19.9

9*▲

0.0

▲

10-1

16*34

16.0

41.6

3

30.011.2

0.0

- 14.5

62.0

▼

21.915.0

▲

21.9

7

590.5

-

-255

-

-

2.3

- -

9.2-

13 68.8

2.5

- 6.879.359.5

-- 36*

▲

7

-

-23.93.3

29*

7* 9 18.4

3

▲

26.2 12

57

118

▲▲

299.8

** Fee

▲PricewaterhouseCoopers4


Euro mil2

2013

230.6▲

2014Fees


13

-11*

4

8

AdvisorChange (%)

▲

Rank Value

244.7

US$m

8

16

291.8

27 7

21

-

▲ 23*

1.06

4.4

-

-

42

82.8

1 ▼

2

45.7

Jan 1 - Dec 31

30 0 23*

0.0

12

4

4

7

N+1 16* 11* 4 112 6

50.3

54.50.0

29*

-

119.2 89.9

-

-

-

50

100

150

200

250

300

350

$0.0

$0.1

$0.2

$0.3

$0.4

$0.5

$0.6

$0.7

$0.8

$0.9

$1.0

# of

Dea

ls

Ran

k Va

lue

(US

$b)

.8 41 100.0▲ 13.0 9.5 23 - -- - 1.1 33* 24.4

perspektiv GmbH 28* - 2 2

100.0CBRE Holding SAS 28* - 2 2 ▲ 0.0 0.0 29*

0.0 29* - - 1.0 36*- - -

DNB ASA 28* - 2 2 ▲ 0.0▲ 0.0 0.0 29* - -

- - .5 43* 100.0Itau Unibanco 28* - 2 2

1.0 36* 100.0Fineurop SpA 28* - 2 2 ▲ 0.0

▲ 0.0 0.0 29* - -- - .1 59* 100.0

Global M&A 28* 35* 2 1

1.0 36* 100.0Altium Capital Limited 28* - 2 2 ▲ 6.7

42.5- 2 2 ▲ 0.0 0.0 29* - -

▼ 0.0 0.0 - - 3.420.0 - - 3 35.0

Nomura 28* 7* 2 -5

- .0 62* 0.0Rothschild 28* 14* 2 -2 ▼

0 - 0.0 29*-1 ▼

0.0 0.0- 10.8

-29*

- 1.1

-1 ▼ 0.0

11

- -0.0 0.0 -

▲

29*

-29* - -

0.0 0.0 -29*

35* 3

35* 3 2

35* 3 235* 3 2

Mediobanca 28*

McQueen Ltd 28*

JP Morgan

Houlihan Lokey

2 ▲

AZ Capital21*

Societe GeneraleBanco Espirito Santo SA

▲18* 0 -

▲ -

5.1

2.0

36.41.22.4 22

26*

100.0

0.0 0.0 29*0.0

17

29* -

29*

15.5

14.4

35.1 27.5

0.0 0.0

8.5

1.5 30

16

11-

18*

18* 228*

21*21*

2


-

3

205.0

- -

26* 2

21* 31.6

27.9

2.3

66.7

53.6

32

33*

0.0

▲

5.0 25

0.0

Industry Total

21*

BarclaysIREA Corporate Finance

Macquarie Group

35*

▲

29*

0.0 0.0

21*

▲3 2

BNP Paribas SA40.6

- 4.029* -10


2,577.541 1,962.4

327.718.8

▲17.2

▲-1 ▼

693

▲

0.03-

Spanish Small-Cap M&A up to US$50m by Target Industry Jan 1 - Dec 31 2014

30.0 23*

*tie


21*N+1 16* 11* 4 112.6

15

28* 0.0 29* 9- - 9.36.0

16.4%

14.6%

12.8%

12.7%

8.8%

7.9%

6.9%

6.8%

5.7%

4.6%Industrials

Real Estate

Financials

High Technology


Consumer Staples

Energy and Power

Materials


Healthcare

Retail

Telecommunications

$0.0



10

122.1

56.4

65.7

76.9▲

1▲

▼

▲

5.8

18.17.6

89.8

9.719

78.6 58.0

13.5

49.6163.5

625.0


5.139

49.0

French Small-Cap M&A up to US$50m by Rank Value RangeJan 1 - Dec 31

189.9

27▼

57 7

100.0

26 100.0▲

42.1

36.7

4

26

23.0

36.7

100.0

42.1

40.7

100.0

33.3

21*

4

65.7

75.2

25.0

100.0

100.0

17

42.9

▲ 5

0.0

25.0

7.0

11 6

51.5

2.42.6

21*5.9

38.7

19

16

79.5


23


1

34.5

0.0

▲

Linkers

9*DC Advisory 13*

Oddo et Cie

-4-

Ernst & Young LLP

IMAP 12

Lincoln International 17*

13*

1011*

La Compagnie Financiere11*

238

17*


2013

54

18

11

Rank Value

Leonardo & Co 7*

Deals

1

32

RankFinancial Advisor Exp (%)Advisor

US$m1

65.4

27*

8

▼▲

4

2 41

77.4

9

77

16*

1

09*

Bryan Garnier & Co

1918

24*46 612 4

Financiere Cambon 13*Capitalmind

2013 3.5

-1

▼17

18-6

9

100.0

2014

29*15

17

▲11


33.8


5

125.0

2

Lazard 6

BNP Paribas SA

Rank2014

4

5 ▲

Deloitte

KPMG 13*3

▲09

# of # of Deals per Advisor

4

-

# of DealsChange in

-1320

0 -

▲5

-2

25

64.2

4.1

61 74.5

89.8

▲

▲

101*

▼

51.1

39.3

32.1

36.6

** Fee

16RankEuro mil Fees

▲

Change (%) RankRank Value

114.9

2014

▲2 73.9149.4

-29.3 ▼

▼41.3▲

153*

-3.250.4

264.4

▲

30 46.964.0

54.3

1510

244.2 ▲

266.2

28.841*12

713.8

▲

46

8.7

8.8

58*▼▼ 11

12

▲

121.2

51 -65.13

▲

24 -65.3

5 103.1▲

5.9

15

▼3*

▼

1.6

- -

94.1 6.3

-72.2

-56.3

▼

▲3.0 78

3 0

7.5

-48.5

45.925

5

28.7

3 6

14


Societe Generale

13

239

13*

7*

1724*

15

7

22

16*

Rothschild

▼

-69.4

85.0

Credit Agricole CIB 33

-

100

200

300

400

500

600

700

800

$0.0

$0.2

$0.4

$0.6

$0.8

$1.0

$1.2

$1.4

$1.6

# of

Dea

ls

Ran

k Va

lue

(US

$b)

15.0▲ 11.0 47 57 100.0-2.0 49*0.0

- 1.8ONE to ONE Corp Fin SL 43* - 4 417.9

49* 100.0HSBC Holdings PLC 43* 41* 4 0 - 0.0

0.0 0.0 101* - -101* - -

100.02.0Eight Advisory SAS 43* 57* 4 1 ▲

9.6 53 -58.2 ▼ 1.2 710 -101* - - 1.5 60* 100.0AP Management 43* 36* 4 -1 ▼18 - - 11.2 10 91.8Messier & Associes 43* 32* 4 -2 ▼

101* - - 4.7 27 17.9101* - - 6.0 20 41.4

- 2.0 49* 100.0Moelis & Co 43* 41* 4 0 -

37* 6.2106* 4 3 ▲ 0.0 0.0 101* -

62.5Barclays 43* 72* 4 2 ▲ 101* - -

100.013* 5 -10 ▼ 96* -98.7 ▼ .50.5

100.027* 5 -3 ▼ 27.7 21.4 34 179.8 ▲

90.2 ▲ 2.1 488.4 56Aforge Finance SA 39* 32* 5 -1 ▼101*

11.6

2 ▲ 0.0

- - 2.5 45

Grant Thornton 39*

Aurige Finance 43*

Groupe BPCE 43*

Banque Degroof

100.0

59.77.1

10.0

28*

UBSCredit Suisse

CFI

6

100.0100.0

30.6100.0

75.0100.0

100.036.2

0.0

47.2 35.0

0.0 0.0

0.0

0.0

0.00.0

0.0 0.0

▲

114*

1339

1.1 72

3.1

57.7

2.4100.0

35.1

27.3100.0

11.645*

6.8 643.1

25*

Deutsche Bank

MBA Capital SARLMazars SAEaston Corporate Finance SASBDO


25*

Hottinguer Corporate FinanceOddo et Cie 27*

0.0

M&A International41*

Hekla Corporate Finance SARL

41*17*

46.67 ▲

12

-3 ▼

4

23* 9

1121*

20

11375.0

79

2.512.0

81*0.0

4.6

43* 72* 4

41* 4

8

15.2

Morgan Stanley-6

0.023*

0.0

▲

▲

▲

6

7

61.7

▼

0.0

13.0

6

1 ▲-4

▲

0.70.0

▲▲▲

-▼-75.8-

2.6

-

3.0

▼

3.7

1.5

2.6

3.6

-

68.7

French Small-Cap M&A up to US$50m by Target Industry

69.4

6

28*

14.1

8.6

835

Jan 1 - Dec 31 2014

14.0

41*60*

2.6

12.5101*

41*

9

4813*

5

1

577

3.8

13

-2

-

32*

▼8

▲

6

21*

7

▲6

66

-7

-8

7

2,580

3.4

32*32*

32*22

32*

32*

39*

106*

32*

36*2141*

Clipperton Finance SARL

*tie

17*57*

28*

NatixisEurohold SLDetroyat Associes SA

28*

4,213.1 3,173.8

-

0.0

-43.3-

48

101*

11.2

Atout Capital

25*

-

28*

2.8

-

▼

8

-

23

Industry Total

Bank of America Merrill Lynch

32*

34

65*28*

▲75.0

6

32* 6

0.02 ▲

3

7 30

67.3

5

▲2 ▲

▼48.9

57.2

▼

0.0

5.3

▲

▲

4.3

31.7 23.4

14.9

32.4 23.5

101* - -

-78.8 ▼7.1 5.5-0.0 101*

3037*3.1

19.2 ▲ 3.8 33- 4.2-

93.2 36

101* - - 12.09 - -

14 -67.8 ▼ .44.7 3.5 76 - - 41*56.8 44.9

17.1 13.5 43 - - .3

213*

216*5641*

7 275.0 ▲ 1.973 --

Mediobanca 39* 57* 5 2



20.9%

18.1%

10.8%10.7%

9.5%

6.6%

6.3%

5.4%

3.9%3.5%

2.9%High Technology

Industrials


Healthcare


Energy and Power

Real Estate

Consumer Staples

Retail

Materials

Financials

Telecommunications



7

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