reuters / benoit tessier mid-market m&a...

MID-MARKET M&A REVIEW FINANCIAL ADVISORS First Half 2017

REUTERS / Benoit Tessier

Canadian Involvement Mid-Market Rankings (MML22)

European Involvement Mid-Market Rankings (MML03) 6

7

8

9

French Involvement Mid-Market Rankings (MML05)

Latin America Involvement Mid-Market Rankings (MML17) 5

Ranking Criteria Summary 22

Singapore Involvement Mid-Market Rankings (MML14)

Japanese Involvement Mid-Market Rankings (MML15)

18

https://www.thomsonone.com

20

Indian Involvement Mid-Market Rankings (MML21) 21

Chinese Involvement Mid-Market Rankings (MML20)

Worldwide Mid-Market Rankings (MML01)

US Target Mid-Market Rankings (MML02)

2

4

Australia/New Zealand Involvement Mid-Market Rankings (MML11)

3

Hochinma Involvement Mid-Market Rankings (MML13)

Hong Kong Involvement Mid-Market Rankings (MML12)

17

UK Involvement Mid-Market Rankings (MML04)

10

Eastern Europe Involvement Mid-Market Rankings (MML16)

First Half 2017 | Mergers & Acquisitions | Legal Advisors

Mid-Market M&A Legal ReviewTable of Contents

Worldwide Mid-Market M&A Deals Intelligence 1

German Involvement Mid-Market Rankings (MML06)

Italian Involvement Mid-Market Rankings (MML07)

Spanish Involvement Mid-Market Rankings (MML08) 11

12

13

14

19

Benelux Involvement Mid-Market Rankings (MML10)

Nordic Involvement Mid-Market Rankings (MML09)

15

16

http://banker.thomsonib.com/

Worldwide Mid-Market M&A up to US$500m by Rank Value Range Jan 1 - Jun 30

Jan 1 - Jun 30

Mid-Market Deals Intelligence

Bermuda 1,101.5 14 772.4 10

Rank Value

US$m

23,285 ▼

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


First Half 2017

DEALS VALUED UP TO US$500 MILLION

MID-MARKET M&A REVIEWM&A Rankings For Small-Cap Deals Valued Up To US$50m Are Also Available

14,205.310,926.5

747

120

-18.115.0

▼

▲

266 ▲Mexico 1,951.0 73

1,343

Turkey 1,527.2 66

Spain

Sweden 48.316.3

-39.519.9

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

Brazil

18,577.1 ▲

5,620.2

Hong Kong

-27.6

183,597.562 2,261.7

6,116 6,223183,208.4

15,345.7

730

109.9

Americas 143,371.2 7,779 131,997.3

166South Africa 2,400.7 151 3,299.078Israel 1,659.1

135

251 3,622.0 ▲

117

▼▲

▲

1,090.3 40.48,336

23,722.6

16.241.7

▲

▲

1331,790.2 118 1,493.7

2,874.9 9384,234.2

410 5,974.4

208 5,871.4▲

▼241

Russian Federation177

6,349 106,988.7

704

2,671

364

▼▲

-15.2

-26.60.2Asia-Pacific (ex Central Asia)

▼

▲

-9.030.824.713.839.7-4.3

Uruguay

10,166.2

16,705.8

# of

Deals

▲

826 ▲Italy 7,535.9 519 10,412.9 498 ▼Germany 9,354.5

1,329 ▼France 9,366.2 886 13,484.5 1,376 ▼

56 ▼

Europe 90,115.2 6,842 100,261.7

# of

Deals

United States of America 114,195.4Canada 15,131.1 829 14,727.5

444,156.0▲

8,619.1

United Kingdom 23,549.3

752 ▲

8

22,488

5,368 ▲

11

2,168.5

243

▼

1,790.5 84 ▲

4,878.5

668

Worldwide 442,595.9

2,324.4

Chile

423

8.66.72.7

Jan 1 - Jun 30Announced Mid-Market M&A by Target Nation Up To US$500m

13,012.7 656560

Region/Nation

1/1/2017 - 06/30/2017 1/1/2016 - 06/30/2016 % Change

in Rank

ValueRank Value

US$m

335

-5.9-8.1

-27.2

654 8,078.4India

Thailand 2,230.8

China 104,956.7

52211,430.0

-22.242.6

2,598.8-10.1-0.7

-30.58.5

6,747

6.0

5,132.7

3,344.42,856.0

Belgium

Africa/Middle East/Central Asia ▼

1,687.5 53▲

6,941.4Netherlands

646

575 11,982.71,441.1

130 2,999.4

357

9.0

44013,621.1South Korea

Australia

▼Japan

▼3,797.7

-0.4

2,373

2,531.6

1,275

249Malaysia95

98 2,370.3

375

2,201.2

▲

▼

▲

11,282.8

217Singapore

1,174

Finland 1,814.3

Taiwan3,109.3

Worldwide announced Mid-Market M&A deals valued up to $500 million (including undisclosed value deals) totaledUS$442.6 billion for the first half of 2017, a 0.4% decrease year-on-year.

According to estimates, global fees generated from completed Mid-Market M&A activity reached slightly over US$8.5 billion for the first half of 2017.

The Asia-Pacific (ex Central Asia) region (by target domicile) led the market, with US$183.6 billion of announced dealactivity, representing 41.5% share of the market.

The Americas region (by target domicile) led the market in deal count, with 7,779 deals for the first half of 2017,representing 34.6% of the 22,488 deals announced worldwide.

The Real Estate sector comprised 18.6% of announced value, followed by Financials and Industrials, with 13.3% and12.9% of the total market, respectively.

115,319.6

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

$0

$50

$100

$150

$200

$250

$300

# of

Dea

ls

Ran

k Va

lue

(US

$b)

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

18.6%

13.3%

12.9%

12.2%

8.5%

7.8%

6.1%

6.0%

5.7%

5.1% 3.0%

Real Estate

Financials

Industrials

High Technology

Energy and Power

Materials

Healthcare

Media and Entertainment

Consumer Products and Services

Consumer Staples

Retail

Telecommunications

1

* Source: Thomson Reuters

** 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.


GCA Corp 49* 60 26 1 ▲ 1,024.5 - -30.2 ▼ 15.2 67 100.0

Jan 1 - Jun 30Worldwide Mid-Market M&A up to US$500m by Target Nation Region

87.963.283.941.5

100.071.311.617.6

100.055.2

59.576.0

Daiwa Securities Group Inc

-36* 74*

Global M&A

Industry Total 22,486

20.5100.0

79-14

32

41*

Globalscope

▲

-

-

Piper Jaffray Cos

BMO Capital MarketsClearwater International

Grant Thornton 38*33

38*-31

▼-25.352.711.0

24

33*

33*

38*

Gram Capital

47*47*49*

Bank of America Merrill Lynch

49

33

▼

2,714.1

100.0100.0

20.0

3346

14

1441*

28

25* ▼24*25*

Clairfield International

17

16 -25

▼Generational Equity

2.1

10

1,718.5 38

▼-30.0▼JP Morgan

3,642.3

16* 24*

21*

▼ 6,078.8

100.09

163.819

▼▼

8,843.4▲ 6,956.6

84 -9

35* -0.5

16-29

12

21* 15 48

▼

Mizuho Financial Group

-

Houlihan Lokey

- 5,305.71714

▼

54.3▼ 4,811.1

-40.3

93.164

62.4-20.8-1

-9 ▼

18*

Credit Suisse 15

21* ▼-77.4

3,451.7 21▼

Evercore Partners

Nomura

▼

Barclays

Industrial & Comm Bank China

18.313

18*

Oaklins (FKA M&A Intl Inc)

241,169.1

0

60.320

24*

▼ 2029*

▲

22

101.7-2 ▼ 6,930.7 -25.8 ▼

35*

1,013.5▼

-48.9-33.7

▲

-12.0

-

Stifel/KBW▼

Raymond James Financial Inc 16* 28 58 6

43.6

▼

26 ▼

3,313.8 22

-11 -

-0.4

-14 ▼28 1728

12 ▲30

1.83.82.9

33.3

-

35

34

▲

▼

-7

245.7▲

48.7

50.4-44.469.7

-14

35.4▲-

▲

30.6

59.7

▼-17.6

808.9

▼

43.7

▲

1

15

76.8

23.3 44

100.034.5

19 20.4

32 43.9

24.5

30302*

47.4

180*

83.1100.0

-

25*42

39

1,489.229*

33* 21*

30*

442,595.9

43* -61.7-4.1

89.1

30

-23

3941*


100.07.9 108* 80.612.9 77 64.8

▼

3634

22.4

2,280.1

Source: Thomson Reuters

3,766.0

Worldwide Estimated Mid-Market Investment Banking Fees by Quarter*

18 -6.2 ▼24.9 - 192.9▲

11

15

Ernst & Young LLP

-25.0

1.8

▼

*tie

-9

3,895.4

18

Moelis & Co

Robert W Baird & Co IncKBS Corporate Sales Ltd

▼41*

▲

31

2,703.5 30 -33.9 ▼

Baker Tilly International 38*

▼

43*

243.7

4,398.0

-5 ▲

▼13

51-25.5

4,813.7 12▼-1034

50*21*

100.0

8,498.0

100.0

2,948.9

First Half 2017 │ Mid-Market M&A Up To US$500m │ Financial Advisors

Worldwide Mid-Market Rankings (MM1)

-18 ▼ 2,288.6 -

Jefferies LLC 21*

▼

▼

65.4

Macquarie Group

▼

-23.3

19*

45.8

56.2

19.216.7

53▼

27

-8

▼

-

38*

4,829.1

148.2

21.960.0

30.120.5

24.5

104.1

27.0

1844

▼

29.5 100.0

6,771.3

26.2

47

12

▼

-2,816.4 3426

▼

▼

▼

▼

48.2

8.523

19.56

42.7

66.7

10217*

100.0

▼47

43*

11.032 ▲-

-86.9

100.0

▼

110.5▼15

1,004.7 -92

5

52.8

25.5

86.387.953.750.9

34.1

4,991.4

Sumitomo Mitsui Finl Grp Inc 10

51▲

▼

19*

70.212.014.8

56.1

214

209.7# of Deals

3

8* 2

IMAP

-29.3

3,814.5 1716

▼10

8* 14

▼

6

5.1

5 8Deloitte 4 6

16

7,141.9

▲

CitiMorgan Stanley

-49

11

▼

29978

843,688.7 18.419

1 -116-12.83,876.3

9-2 ▼

141

2016

35.6-68

-10 ▼101

78.7177.7

▲

▼1,374.02

2017

US$m

2,670.6

88

-16▼

▼

5 79

13

▼

Jan 1 - Jun 30

Exp (%)

** FeeChange in

RSM Corporate Fin LLP

7-

▲

-5 437.4▼-2635

35

-16

48▼

▼

-11

-21

4429

8

25*

7,088.9 4

74

-17

48

-

▲

32

-11

33

31 -11 ▼

8 -40.0

39RBC Capital Markets 30*

▲193.41UBS

▲▼

38*

-36*

38* 33

44

-BNP Paribas SA

58.6

-12

Duff & Phelps 24

18*Lincoln International

44

689.4

-65.0

58 ▲-2

-17.07 4

MM1 - Undisclosed Values & Values up to US$500m

# of Deals per Advisor

Rank

102 -16

1Financial Advisor

Rothschild & CoDeals

6

-65.6143 -21.5

Rank

1 ▼

PricewaterhouseCoopers 3 2

Lazard

76*4638*115*29*

-799

Haitong Securities Co LtdAlantra Partners SADeutsche BankKaede Group

▼

▲

43*45*

9,170.0Change (%)

Advisor 2017

Imputed Fees (US$m) †

1Fees Rank

Rank Value per Advisor (US$m)

Rank Value Rank Value2016

129.6

71.2

18.731

34 -71.1-25.1

-44

31KPMG 2123

11*

25

5

-

Goldman Sachs & Co-28.7

50

# of

47.5

-20.363 ▼▼

2,022.6

3

▼-37.6

Rank

56.1-8

▼

45*

5110

▼

35* 1373.8

38

11

38

100.0

200.1 -

32

27

-6.4 ▼

100.0

80

11*

52125.6

3

295.8 ▲543.5 - 15.0 ▲

14.5 70

-5

2,832.8

40.5

$0 $50 $100 $150 $200 $250 $300 $350 $400 $450 $500

2010

2011

2012

2013

2014

2015

2016

2017

Rank Value (US$b)

Africa/Middle East Americas Asia-Pacific Europe Japan

0%

10%

20%

30%

40%

50%

60%

70%

$0

$1

$2

$3

$4

$5

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

2010 2011 2012 2013 2014 2015 2016 2017

Perc

enta

ge o

f Tot

al F

ees

Inve

stm

ent B

anki

ng F

ees

(US

$b)

Mid-Market I.B. Fees ($500mil or less) % of Total Fees

2


US Target Mid-Market Rankings (MM2)

*tie



Pendo Advisors LLC 43* 124* 8 6 ▲ 68.4 - 3157.1 ▲ 1.7 121* 100.0Hovde Group LLC 43* 82* 8 4 ▲ 520.2 - 506.3 ▲ 0.6 221* 100.0PJT Partners Inc 43* 20* 8 -10 ▼ 250.0 - 76.8 ▲ 7.5 50 10.0

▼7.3 - -92.7 ▼

778.3 33 -53.4 ▼1,973.6 17 41.0 ▲

11.6 - 5.5 ▲

4.3 72 89.65.7 58 100.014.5 31 10.718.4 25 15.98.8 44 100.0

Deloitte 39* 47* 9 1 ▲BB&T Corp 43* 47* 8 0 -UBS 43* 37* 8 -3 ▼Centerview Partners LLC 43* 59* 8 2 ▲Global M&A 43* 29 8 -6 ▼

41.5 - -70.8

9

44

-4

3311 1 -27.0▼

Stifel/KBW

Rank

16

184.1

-

445.0

15*

Robert W Baird & Co Inc


20172016

-31 ▼

-2

2,098.3

4

2,141.3▼

138.7

-45.3

630.3428

83.6

10.8

13


Goldman Sachs & Co

11*▲

18

2,008.8

▼

▼

13

16*

81.4

17*

22

Jefferies LLC

46 2

3JP Morgan▼

Evercore Partners

Raymond James Financial Inc

2,264.2▲

7 ▲42 2 -42.4

▼


23.8

2932

▼

12

651.4

▼

US$m

▲44

65

15.4▼

-

35.4


979

▲15

195

2,436.8

14*

PNC Financial Services Group

17

-68.5

23*

▼210.0

Stephens Inc

161.2

10

-617

▲

17*

3,206.8

39.4

100.0

-

▲ 1,598.7

▲155.79

Wells Fargo & Co

45.188.1

Deutsche BankSignal Hill Capital Group LLC 39*

KeyBanc Capital Markets Inc

AGC Partners

-110

▼-

214.4

87.1

15.0PricewaterhouseCoopers

12

23

.811.9

15

7.9

60.759.1

11

16.7

66.426.6

Jan 1 - Jun 30

▲72.2

26.5 206.9

48*

55.617

38

8.3

92,081.0

10

20.7

59.2

3,451.8

100.0

73.0

339.2

40

-1


5

Rank

5

Rank

2017

1

Rank Value

Fees


▼6*

86.5

Rank

6

18

961.4-2

14

Rank Value

100.0

-

▲

- ▲

▲

0

-4.2

2,056.7

▼

23*

▲

1,993.8

9*

▲

484.854*21

8.7

24.9

▲

11*28

6

37*

Financial Advisor

Piper Jaffray Cos

22

34.5

2

-6

# of

101.9

-

▼

▼

Generational Equity

2*1

12.9

Deals

-4.2

4,285.64

-4 ▼

8

1-13.3

3

2,493.3

7

Houlihan Lokey 60 ▼1,459.2

26.2▼

2017 ** Fee

1

▲

16.6

19

-

BMO Capital Markets

22

52

93.8

17*

3

31.0

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

85.3

100.0

28*

-1 ▼

23

11

12

37

8

48.6

7

Change (%)

-72.1

Change in

# of Deals

5

Exp. (%)

Advisor

2*

-

13.3

William Blair & Co30* 16

30.3

11 ▲

11* 27*

4,540.4

44*MarshBerry & Co Inc 28*

-

28*

Credit Suisse

Duff & Phelps

28

KPMG 23*

25

-70.4

34

25 34.015* -11

Morgan Stanley-28.1

Sandler O'Neill Partners

2,707.1

1,174.3 24

16.8

▲

4

-29.7

21

-22.2135.0

10.4

57.841.3

45.0

16

17.6

11

1

100.0

▲

100.017.1

42.4

▼-10 ▼23 756.5

100.0

0

▲▼

32

23

16*

100.07

10

23*

100.0

7.4-35.4▼

-

1,804.2

-

▼

-

1,879.1 10.2

15

▲

37*

149 17.7

40.6

6*-31.9

▲

20*

-

-54.8

15.8

47

40.0

298.4

▲▼

-▲

▼

100.0

31.9

9.0

100.0

25.7 90.521

▼

▼

8.6

20.7

9.0

35207*

-

1,178.0 23

▼

▼23.712

▼

47*

323.6

5

12

-82.1

11 0.0

▲

678.5

8

23*

100.0

48.0

100.0

100.0

26

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

41

32.0

24

▲-6

625.3

4542* Jan 1 - Jun 3027

32*

28

34.0

-

IMAP

Cascadia Capital

2,890.3

47*

37*

-7

6.5113,992.9

12

115.0

▲

▲

-344.0

-

100.0-

-86.7

32.5

10.0 39

7.8

▲

961.5- ▼

4

6.8

-

23

3

37* 0

121*1.7

48.9

21

3

10

-

28* 44*

32* 72,702.13


Lazard 9*

39*

36* 96* ▲

18

22

▲

▲▲

2 ▲

▼ 16.3

12

-2

-

-

11* 28


42*

-

8.0 15.9

1513

-1

1

32*32*

36*

23*

17*

▼13

633.2

▲

20* -99

25

-47.3

14*

30* 0

3,672.6

36* 37*

10

Moelis & Co

-8.8

Fig Partners LLC

Prairie Capital Advisors Inc

-

0.012

39*

▼

-72.6▼

0

Rothschild & Co

SunTrust Banks

Lincoln International

RBC Capital Markets

37

-

29Barclays

01132*

Chartwell Financial Advisory

26

Citi

106.2-

0.0

748.8

6,347Industry Total

▼27*

32*

8

-7.46-8

11

▲

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

$0

$10

$20

$30

$40

$50

$60

$70

# of

Dea

ls

Ran

k Va

lue

(US

$b)

US$0 - 50m US$50 - 100m US$100 - 200m US$200 - 500m

20.8%

13.9%

13.4%

8.7%

8.5%

8.5%

7.6%

7.2%

4.3%

3.3% 3.3%

Real Estate

High Technology

Financials

Industrials

Energy and Power

Healthcare



Materials

Consumer Staples

Retail

Telecommunications

3


Canadian Involvement Mid-Market Rankings (MM22)

*tie



28 17.3Lazard 21* 13* 4 -3 ▼ 20.0 60 - - 3.5



Industry Total 1,321 114 ▲ 31,479.4 20.6 ▲ 565.3 36.2Canadian Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30

IMAP 21* 33* 4 1 ▲ 50.0 51 -93.4 ▼ 5.8 18* 100.0Macquarie Group 21* 8* 4 -5 ▼ 776.1 12 6533.3 ▲ 5.0 20 49.0Baker Tilly International 21* 21* 4 -1 ▼ 0.0 - - -

KPMG 21* 8* 4 -5 ▼ 272.7 - - - .2 87* 100.0

.4 77* 100.0

Ernst & Young LLP 21* 33* 4 1 ▲ 19.6 - - - .6 70* 100.0Piper Jaffray Cos 21* 55* 4 3 ▲ 310.2 - -32.5 ▼ 6.5 15 100.0

Houlihan Lokey 16* 6* 5 -5 ▼ 0.0 77* - - 9.9 10 100.0Rothschild & Co 16* 8* 5 -4 ▼ 704.3 15 95.6 ▲ 6.3 17 39.4Citi 16* 55* 5 4 ▲ 986.5 8 - - 3.8 25* 7.0Credit Suisse 16* 27* 5 1 ▲ 947.9 9 632.0 ▲ 11.3 8 26.5

Duff & Phelps 12* 55* 6 5 ▲ 48.2 - -96.5 ▼ 2.4 32 100.0JP Morgan 12* 21* 6 1 ▲ 685.2 16 -51.7 ▼ 14.3 5 10.2Scotiabank 16* 12 5 -3 ▼ 1,089.8 7 93.5 ▲ 8.7 12 37.8

Jefferies LLC 9* 21* 7 2 ▲ 1,315.8 5 100.1 ▲ 10.1 14 80.2Canaccord Genuity 12* 13* 6 -1 ▼ 364.0 25 -54.3 ▼ .3 80* 100.0Goldman Sachs & Co 12* 21* 6 1 ▲ 657.6 17 - - 13.3 6 10.5

National Bank of Canada Fin'l 6* 2 8 -7 ▼ 729.7 13 170.4 ▲ 17.0 4 63.2Evercore Partners 9* 27* 7 3 ▲ 396.2 23 -49.4 ▼ 7.3 14 62.4

▲ 877.0 10 438.0 ▲ 1.0 46* 100.0

CIBC World Markets Inc 5 3* 10 -1 ▼ 1,704.1 4 403.6 ▲ 12.9 7 27.6Haywood Securities Ltd. 6* 8* 8 -1 ▼ 195.2 - -40.7 ▼ 1.6 39* 100.0

100.0

11 ▲ 2,881.7 2 80.4 ▲ 22.1 2 31.5BMO Capital Markets 2 3* 20 9 ▲ 2,464.9 3 -11.1 ▼ 19.3

Raymond James Financial Inc 4 16* 11 5 ▲ 1,277.4 6 -10.6 ▼ 2.7 29* 100.0

GMP Capital Corp 9* 16* 7 1

MM22 - Undisclosed Values & Values up to US$500m Jan 1 - Jun 30


2017 Rank Value Advisor 2017 ** Fee

RBC Capital Markets

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


3 20.33 1 16 0 - 3,062.4 1 2528.7 ▲

Cormark Securities Inc 6* 16* 8 2 ▲ 654.5 18 -81.7 ▼

Financial Advisor Rank Rank Deals # of Deals US$m Rank Change (%)

TD Securities Inc


2016 # of Change in Rank Value 2017

22.7 1 27.8

7.7 13

Fees Rank Exp. (%)

1 3* 22

-

100

200

300

400

500

600

700

800

900

1,000

$0

$5

$10

$15

$20

$25

# of

Dea

ls

Ran

k Va

lue

(US

$b)

US$0 - 50m US$50 - 100m US$100 - 200m US$200 - 500m

24.2%

22.9%

13.7%

12.5%

6.2%

6.2%

6.1%

2.7% 2.4%

Real Estate

Energy and Power

Materials

Industrials

High Technology

Financials


Retail

Healthcare


4


Latin America Involvement Mid-Market Rankings (MM17)

*tie

Source: Thomson Reuters** 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.


Alantra Partners SA 33* 21* 1 -2 ▼ 0.0 40* - - 1.0 18 100.0Investment One Partners 33* - 1 1 ▲ 0.0 - - - - 18 -Duff & Phelps 33* 36* 1 0 - 0.0 - - - 0.5 18 100.0

Olimpia Partners 33* - 1 1 ▲ 21.7 - - - .9 18 100.0Montalban Atlas Capital 33* - 1 1 ▲ 42.5 - - - - 18 -MAGMA Brasil Consultoria Ltda 33* 21* 1 -2 ▼ 0.0 - - - - 18 -

Natixis 33* - 1 1 ▲ 0.0 - - - 1.0 18 100.0AlixPartners LLC 33* - 1 1 ▲ 15.8 - - - .6 18 100.0Deloitte 33* - 1 1 ▲ 0.0 - - - 1.0 18 100.0

VGL Finanas Corporativas 33* - 1 1 ▲ 0.0 - - - - 18 -Rosenberg Partners Consultores 33* - 1 1 ▲ 21.7 - - - - 18 -Moelis & Co 33* 14* 1 -3 ▼ 192.0 18* - - - 18 -

Lincoln International 33* 36* 1 0 - 0.0 - - - - 18 -BMO Capital Markets 33* 36* 1 0 - 20.0 33* - - .5 18 100.0Global M&A 33* 21* 1 -2 ▼ 25.0 - - - 0.2 18 100.0

1 0 - 0.0 - - - 1.0 18 100.0DH Capital LLC 33* - 1 1 ▲ 0.0 - - - 1.0 18 100.0Estater Gestao e Financas 33* 36* 1 0 - 16.0 35 - - .3 18 100.0

RBC Capital Markets 33* - 1 1 ▲ 430.0 12 - - 3.1 18 100.0Stifel/KBW 33* - 1 1 ▲ 15.8 - - - 0.6 18 100.0GMP Capital Corp 33* 36* 1 0 - 26.5 27* -89.4 ▼ - 18 -

-Nomura 33* - 1 1 ▲ 228.0 16 - - 8.5 18 100.0Guotai Junan Securities 33* 36* 1 0 - 0.0 -

INFUPA SA

37.5

100.0

2017

-22

3.0

56.44

▲

-517.9

▲

13

▲

21*

Deals

5*

UBS

22*

▼

- - - 18

--

22*

22* 7

-

Alpax Inc 33* 36*

334.5

100.0

100.0

-

▲

Change in

-

22*

3

5

Citi

Change (%)

25

100

15-

100.0100.0

14*

580.0 7 -42.7

47.3

8*

36*-

2.0 50*2

▲

3

18.2100.0

2.0

10.4

- -

Advisor

12.1

16.9.3

3.4

100.0

23*

28.3

2017

35*

-

▼

87.8

89.811.3

100.037.7

Latin America Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30

100.0

2.90.0


Rank Value2017 Rank Value# of

3.6

4

2543.4

US$m

265.7

11

0.017207.8

1*

3*3*

PricewaterhouseCoopers 8

▲

2.3-

1

0

1,266.3

2

-25

14

4

8

▼

14* 100.0

3*

14*

9*

4 ▼ 40*

61

3

Exp. (%)

** Fee

1

Rank

-

BR Partners

9*

▼

5*

0.0

1

22*

TD Securities Inc

21*

-1

-

KPMG -101.014* 620.0

Banco Fator SA

-

14*

3

▲

-2

2 2

980.3

0.2

9

0.0 9


890.84

10.7

Rank

4

13.3

16*Bank of America Merrill Lynch

10.6

Jan 1 - Jun 30

▼

10.38

74.9

14*


16

13,483.1 23.9

▼18*

▲14*

4

100.0

▲

BNP Paribas SA

1

-1 ▼4

-2BBVA 3

5.1

Industry Total 602 -16

-7

51.0


63.9292.3

Fees

14.6

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

3

- 3.0

-

75.8

6.0

100.0

26.5

-

7

- 240

21

4

▲

4.4

6


60.4

18 19.71.3 18 100.0

40*

▲

▲

.2

-7

3

▲ 501.5

- 2.5▲

2

- -

0JP Morgan

537.5

860.0-1 ▼Artica Participacoes e Assesso -1

-

11

8*

23

-33.9

Cormark Securities Inc

75.9

2

-

-67.5

2016

50.0

3

14*

39.6▼

IMAP

-

-118.5

8*

4.4

▲1,076.2

-

3

▲

▲

▲

# of Deals

796.7

14*192.0

-

Financial Advisor

Itau Unibanco

21*

Lazard

Rank Rank

-4

4

8*

Banco Bradesco SA

Banco BTG Pactual SA

- 88.8

9*

8

388.0

3

138

Banco do Brasil SA

▲

-838.4

14* 3

3

11*

Rothschild & Co

5

3

▲

4

36*

8

-

▼

3

21*

1*

14

14*

▲

8

6.0

9*

9* -3 -

-

8*201.13*

Credit Suisse

Banco Votorantim

2 9

▲

Morgan Stanley

▲

1

5

--2

1

14*

7 819.6

▼

HSBC Holdings PLC 22* - 2 2 ▲Clairfield International

0.0

Goldman Sachs & Co

Santander8.2 18

0.2 - -99.6 ▼9.9 - - -0.0

100.0

▼- 2 2 ▲

2.0 18 100.0

2 -4 ▼2

22* 21* 2 -1 ▼Quarton International 22* - 2 2 ▲ - - -

.5 18 100.00.7 18

- 2.3 18 100.0Barclays

RGS Partners 22* - 2 2

15 -

▲ 0.0 - - - 3.1 18 100.0Rabobank NV 22* 36* 2 1 ▲ 184.2 20 -7.9 ▼ - 18 -National Bank of Canada Fin'l 22* - 2 2 ▲ 26.5 - - - 1.5 18 100.0Arab Banking Corporation 33* 31* 1 -1 ▼ 0.0 - - - 1.5 18 100.0Scotiabank 33* 36* 1 0 - 20.0 - -

33* 36* 1 0 - 230.0 - 5.3 18 51.0

-

50

100

150

200

250

300

350

400

450

500

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

# of

Dea

ls

Ran

k Va

lue

(US

$b)


19.2%

18.0%

18.0%

13.4%

11.0%

9.3%

5.0% 2.0%

Materials

Industrials

Energy and Power

Consumer Staples

Financials

Real Estate



Telecommunications

High Technology

5


European Involvement Mid-Market Rankings (MM3)



Rank Exp. (%)

▼

7

3

39

▲

34.9

40*

40*

4.5 34

31*UBS

35*

▼

Industry Total

Houlihan Lokey

Mazars SA

84

9

12

-

13.140* -

40*

Jones Lang LaSalle Inc

Rabobank NV

-11

35*

▼

1,026.9-8

179.5109*12.3

1515Jefferies LLC

Livingstone Partners

Duff & Phelps

UniCredit

Bank of America Merrill Lynch 35

18

-51.6

422.5

▼

▲18.4

673.0

-552.3

0.0-87 44

20

-

21*

-55.0

260.0-12.7

-69.2

ING 22

22*

41

▲

** Fee

Deals

1

32

-19

16

▼

40*

40* 19*

-2

11

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

68.8

-98.1

10.6

100.0


100.0

100.035

5.9

Jan 1 - Jun 30

982.42

138*

139.5

3,134.3

63.4

437.4 403.6

9

-

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

79

61.2

26.9

-9.5

100.0

9

6,357.2

-55.5

2,079.9

▼97.5

20172017

Lazard 6 572

5

53.4

-20

100.0

100.0

▼

808.9-

37

▲

▼

19

▼

68.3

-11

▼

-

▲

▼

▲

-59.8

▲

27.9

DC Advisory

Evercore Partners


1,522.7

15100*

▲

2,990.0

70.746.1

22.2

▼ 3.0

63*

3,334.9 3,075.5-

32.4

1

▼111.6

Change (%)

76.5

15

100.0

▼2,155.4

Advisor

32

-

▼

56.731.7

15

30.4 1366.6

12

3933*

36

28.8

99*

51.9

4.09 ▲ 1,120.5

196.0

100.016

110.9

563.3

4.3

225.1

▼-

▼

9.6

1,568.2

28*

3,305.1

100.0

27.1

3,225.6

37

13.2

51

101,693.0

82.1399.1

298.1 281.7 ▼596.8

-85.1

▼

100.0

40*

-1,460

*tie

118,694.4 109,568.1▼ ▼-6.7

-

8

13*

6

-47.0▼

▼

187.8

117.5

19.5

-23

25*

0 -

-10

-4

3022*

▲

35*40▼

32*1817

244.1

30*

-

15

▼

35*

40*

32*


16

▼

13.8

Societe Generale

27

-14

24.6Kon SpA

14.5

-

▼

-3 ▼ 62.3

14.2-43*

▲

5

1638

▲

32

1,317.6

19*Citi-6.738.2

11

-12

▼-7

-9

35

-27.213

82.1

18

19*

21

▲

▲

24 19.5-73.3

25*

581.9

-

▼1,390.1

32.517

25

301.9

-

11.7

27

-3

2,206.2 11-29.1

14

4

10

-9

Clairfield International 9

Rank Value per Advisor

Rank Value

▼8

16


▼Lincoln International

13*

▼

-46

▼

100.037.1

19*

15*

539.1

PricewaterhouseCoopers

100.0

▼

2

1038

-1

15.4

-64.8

-2

102.8

5

26.1

KPMG

10.9

2.9

74 -

-35.4

Goldman Sachs & CoKBS Corporate Sales Ltd

▼-46.5

-16.4 ▼

Euro mil

6,874.0

130.9

▼

15* 32

-15IMAP

6

▼

2016


11.0

---

4.7

Rank

-822*

▼ -1.2

▼

▲18.6

100.0

543.5 498.7

32

Jan 1 - Jun 30

32 9.0

199.4▼

2

▼2,086.83

-▲

3


Fees

1

5

-97

8

Credit Suisse

▼

Rank

Alantra Partners SA

18

4

1

61

302,234.3

13*

90.942*72.1

10.0

▲

23

▲

-

52.4

69.7

25.8

13* 33*▼

-

JP Morgan

12 -6

24.0

Clearwater International12

900.2

100.0

18

6,220.3

8.7

-46.2

100.0

5,748.4

100.0

Deloitte

32.028.2-

4

1,687.1

34.2

7

3

1,564.9

2,090.9

▼

68.3-21.9

-58.217

23.923*

34

10

-

57.9

23

22

19

-

18.5

39.3

BNP Paribas SA

Morgan Stanley

7▼

Ernst & Young LLP

Capitalmind

▲

-

▼

-15.4 83.2

110.450.4

Baker Tilly International

▼

28.4

▼

24

Global M&A

1951*

25*

28*

477.5

127.1

3,416.2

10

0.0

-8

627RSM Corporate Fin LLP

0.0

100.027.4

29

27

275.4

39▼

35

128*

21*

4.2

2,030.7

18

▼

25*

23*

16.6

2,046.2994.2

▼

51*

-70.2

79

59.1

28* 37


# of Change in

Rank

7530.8

-12

Globalscope

# of Deals

2 118 -15.3

15

21*

-2621*

24

13

13* 14

▼

-18

-1

434.6

2,365.5

-5

▼

Credit Agricole CIB

10012.02,259.1

2017

Deutsche Bank

181.6

20

44.5

Rank Value

11

7.7

▼

▼

167.4

17 2,231.6

24.0

5

Rothschild & Co

-37 ▼

8

13.0

1,844.2

103.90.0

-419

▲1,298.4

▼

1,398.4

▼13-12 25*

▲2,011.725*

17

25.6

53.8

-15

Grant Thornton

US$mFinancial Advisor

-17.923

-14

738.5

2,547.3

▼ 100.028

1,913.1

46*60.223.2

▼16

-67.4

25*

16

32*

1,070.910.5

19.0

-

-

1,199.7

-3

▼

8,029

30*

35*

48*

▼2,353.5

BCMS Corporate Ltd

-

1,000

2,000

3,000

4,000

5,000

6,000

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

# of

Dea

ls

Ran

k Va

lue

(US

$b)


17.6%

14.7%

11.4%

9.9%

8.5%

7.6%

7.3%

6.5%

6.0%

5.2%

3.3% Real Estate

Industrials

Financials

High Technology


Energy and Power

Materials


Healthcare

Consumer Staples

Retail

Telecommunications

6


UK Involvement Mid-Market Rankings (MM4)

** 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.


32*

106.5

Barclays

Alantra Partners SA3 ▲

BNP Paribas SA

Canaccord GenuityCatalyst Corporate Finance

28*

49*

-4

8 -5Cenkos Securities PLC

2,165

▼22.7

8

5.8 34 39.7

-70.8

25*

2

8.5

18*10.6

Jan 1 - Jun 30

▼

8



901.2

100.02.6

15.0

67* 100.05.5 35*

359.7

12

625.7

23*

18

100.0

18*100.0.9

-

Evercore Partners

28.7

100.0

19* 26*finnCap Ltd

3.5

8

26*10

28*

82.7

9

▼-751.5

100.0

▲4

Rank Value Rank Value

219415.8

-

7

-6.7

-7 1

2142

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

6

▲

▼

-2

▲

50.9

32*

Ernst & Young LLP

44*

Financial Advisor

66.6

160.1

-38.9

8 ▼

468.1

▲

10-


2

RSM Corporate Fin LLP

3.0

11.7


14

BDO

Deals

1

▼

-13.7

-

-

284.7

3

60.6

25*▲

Benchmark International

Lazard

BCMS Corporate Ltd

Deloitte

Clearwater International

10.6

▲10*

324.6

# of

50-

▲

4.5

31

Duff & Phelps

3

▼

Grant Thornton

-

-5

2.8


Rothschild & Co

▼

1 12

-47.4

▲

▼1,446.2

Rank

29

32

772.5 616.9

▼

▼- 167.4

11.3

9.9

-

UK Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30

100.0

100.0

Change (%)

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

4

21.1

94.0

2017

16

▼

61

33,800.2

35*

100.0



-▲

14*

10.3258.4

23* 16*

26*

51.6

19*

4.2

3

14.2100.0

2

0.0

130.112.9 11

▼

100.0

53.4

100.024.7

▼

- ▲

0.0

1.8 83*

▼

▼

16

▼

8 4.7

9

8

215.0

5.25.5

57.8

1013.7

22*

35*282.7

96.540.01.8

▲

-

208.9

19

49*

28.2

100.00

83*

** Fee

▲

821.6

-26.2

5

97

100.0100.0

64

2016

2,989.4

-

100.0

60.7

100.0-8

-2

100.0

-12

100.0

11

7*

28*

40.2

87.5

11.0

▲

▼

0.0 0.0 128* -

786.314

▲

-

-

▼ ▲

2017

▲

-4

1373*

-

635.7

▲

5

▲

13* 16.8

2.8508.7

17

GBP mil

7

24.0

57*

2* ▼

-21.77.3

27

US$m

80.0

▲

KPMG 5 110*

Fees

100.013

199.4

-

5

14

▼666.7 521.8

8.5

12*Baker Tilly International

JP MorganIMAP

1,151.617

12*

7*41.2

2

▲ -47.3

1,800.619

0.0

19

22*

73.7Rank

496

-

Rank

5

14*14*

▼

-44.9

12

-

23.1

-

11.4 ▲

28*

28*

104*504.4 402.7 5.5▲


62.7

-11

606.3

2.6

11

Sentio Partners LLPJefferies LLC

111.6

121.3

9 0.0

152.3

-

1.3

27

Rank

8

4

87.5

16.7

-86.5

1,291.3

49*

3.6

25-

48.4

100.0

-2▼

12

574.6

- -▲

1,025.1

-11-18

71*

▼

326.9

-

347.3

22

Change in

# of Deals

Advisor2017

41

Exp. (%)

KBS Corporate Sales Ltd

7

Goldman Sachs & CoMazars SA

60.3

33.6-78.1-

11.5

19.3

39.1

▼

38*

51*

109.1

14

71*

15436.5

14.0

14.8

10

7*

▲

15

914.1

196.0

-2

▲

3

*tie


1,182.6Industry Total

▲

9

174.1

▼

▼

-

-68.7▲ 138.7 ▼

1.0

19*

▼-1.4

25*

692.7 548.4 11

16.0 ▲

10

-8.2

365.0

54 -76.8 ▼1,366.8 1,099.3

44* 7 022* 7 -449*Global M&A

Morgan Stanley

InvestecHoulihan Lokey

632*

7 0124* 7

33*33*33*33*33*33*

3

--

478.6

160.8

-

▲

0.0

18

4

2

-4

▼

▼▲-

0.0

-90.5

22▼

221.0

267.5

6

15 ▼

3,744.5

19* 12

5

1

-2

Liberum Capital

18.4

Numis

- -

-

89.4

▼

14*

Citi

--

4

9.9

102.7

84.9

143.6▼

2.4

▲

453.4

9

19*185*

1414*

13*13*

12

41.1

100.02.4

3027

-81

76.9

22 -302*

42,482.6-6

7

-

200

400

600

800

1,000

1,200

$0

$5

$10

$15

$20

$25

$30

$35

$40

# of

Dea

ls

Ran

k Va

lue

(US$

b)


24.3%

11.7%

11.0%

10.6%

8.7%

8.1%

6.9%

5.9%

5.6%

Real Estate

Financials

Industrials


High Technology


Energy and Power

Materials

Healthcare

Retail

Consumer Staples

Telecommunications

7


French Involvement Mid-Market Rankings (MM5)



Adviso Partners SAS 31* 69* 4 2 ▲ 5.6 5.2 - - - 3.2 39 100.0Drake Star Partners 31* - 4 4 ▲ 54.4 51.4 - - - 2.5 48* 100.0

Houlihan Lokey 31* 32* 4 -1 ▼ 50.0

Clipperton Finance SARL

Industry Total

Accuracy SAS 31* - 4 4 ▲ 0.0Translink Corporate Finance 31* 113* 4 3 ▲ 21.2

31*

IMAP

Citi

113*

Canaccord Genuity 31* 51*

Goldman Sachs & Co 24*


0.00.0

Pax Corporate Finance

-1

20*

-16

Financiere Cambon


▲

19*UBS

▼Societe Generale

7

42*

Banque Degroof Petercam SA

-52.1

▼

0.047.2

51*

10

-8

4 1 ▲ 179.8

4.5

# of

7

-88.1

Euro mil

15*

24*

6

76

0

▼9

524* 5

272*

72.1

4.0


▼2.5

0.08.3

94* - - 5.6 21

0.0 23*

7*

11

15

6 421.1

7

-

48*

Rank

21* 5 -2 ▼ 0.0

161.0 - - - 3.0 41*

8

49

3

12*

19.9

-

Natixis

Credit Agricole CIB

DeloitteBNP Paribas SA

Messier & Associes

AP Management

INGBryan Garnier & CoPricewaterhouseCoopers

4 1 ▲ 27.4 25.5

Jones Lang LaSalle Inc 31* 13 4 -8 ▼ 354.5

131313

28* -▲

50.2

36.1

0.0 - - - 0.7

5 0.0

4.575.6

-

-1

16*

27

-2

-66.7-5

57.3

16

8*

▼

8*

15*

16

1,199.7

0

▲

12

▼4

14.2

▼

12*

152* 100.020.0 - - - 3.3 38

24*

- 4.0

19*

▼

7

- -

Rothschild & Co

7*

▼

▲

Linkers

▲

14

▼

265.6 1.6

8 ▲▼

15*

8

41.9

26.0

-

69.4

4

▼

10

-11

-

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

Advisor

57

42.1

5.1

6

** Fee

12.8

-56

▼

▼

225

-36.5

-98.4

1

9.0

▲

26.2

21,542.5Fees

2016

3

20172017 Rank Value

Rank

Rank Value2017

22.0

Jan 1 - Jun 30

64.02

Exp. (%)Change (%)

1

-

-

▼

▼

2▼

2,173.3 2,015.7


French Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30

100.0

▼15,416.5

-3 ▼ 0.0 0.0 - - - 5.0 23* 100.0

1 9.8-37.8911.4983.6

196-82.6

21*

-3

-6▲

8.0

5

14,217.6 -22.9▼

20*

0

24* 28*24*

8

1,298.4

61

2*

157.6

▼ 0.0

▼

50.838.4

51.4

-51.9

100.0

29 100.0

100.0

100.0100.0

0.0

-

10

5

14*

-1


Ernst & Young LLP

4

- -

7*11*

78.0

*tie

Invest Corporate Finance SAS

-

398.5▲

8.7▼

Eurohold SL 31* - 4 4

100.0

83*6

378.9

0.0 -5.7

4415.8

-

-

Global M&A 31*

-32.8356.2

2.2

-

- - 30*100.0

11

0.0▼

▲-

Capitalmind

714.9

▲

330.0

257.4

10.4

88.0



56.7

65.0

78.9

7

▼

9*

14*

-

1 ▲

30*

12

5

24*

30*

17*

4.0

159.0 148.5

42

Lazard

7

-

-

8.7

6.5

20*

# of Deals

-

146.5237.0

1,390.1

35

▼

5

-3

27

-

15*15*

4.4

19.0

64.0

1,424.7

8.7

7

-12

Deals

17*5

11 - - 3.4 37

48*

-1 ▼ 2.7

-

43

5

▼

4.1

18.5

22

-83.1 2632*

16*▲6.9

DC Advisory 34


▼

Financial Advisor


▲ 18.1

MBA Capital SARL

0.020*

21*-

▼

-

386.0

21* -1

KPMG

45

Change in

-16

1

64

19.5

US$m

27.434.9

-6

21*

69*

-111*

72.7


RankRank

1.4

69*

12*

4

1631.3

100.0

- - 6.8

100.0

-

68.9

100.0

1,073.6 991.0

46.85.0

15

2.5

-

100.0100.0

▲-

27.7

100.0

6.5

▼

-3

3

1,317.6

236.06

1,323

- -

35

74.4

41.2

5

3799.1 ▲

100.0100.0180.2 166.0

100.05

20-

3.7

- - -

7

▼

2.5

-496

▼ 0.0

0.0

9.5

▲

100.0

100.0

17.0 - -

-88.3

34.3

100.0

-

11.1

100.0

100.0

1.1 87* 100.0

21* 4- 2.4 54* 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)


20.0%

19.9%

10.7% 10.4%

8.2%

7.5%

6.8%

6.1%

4.0%

3.7% 2.7% Industrials

High Technology

Real Estate


Energy and Power


Consumer Staples

Healthcare

Financials

Retail

Materials

8


German Involvement Mid-Market Rankings (MM6)



100.0Commerzbank AG 34* 14* 3 -4 ▼ 87.8 82.0 33 -55.2 ▼ - - -Societe Generale 34* - 3 3 ▲ 0.0 0.0 - - - 6.8 10 66.7Citi 34* 30* 3 -1 ▼ 648.7 603.9 10 42.7 ▲ 10.9 5 22.6

20.4CBRE Holding SAS 34* 71* 3 2 ▲ 197.0 175.0 24 - - 2.0 46* 100.0Jefferies LLC 34* 48* 3 1 ▲ 495.2 461.4 11 104.6 ▲ 3.8 27 29.9VR Corporate Finance GmbH 34* 71* 3 2 ▲ 0.0 0.0 - - - 3.0 32* 100.0

-2

Stifel/KBW

Deutsche Bank

24*IMAP M&A Consultants AG

KPMG

24*

Jones Lang LaSalle Inc


ACXIT Capital PartnersUniCredit

JP Morgan

Quarton International

12

UBS 34* 71* 3 2 ▲ 169.3

HSBC Holdings PLC 34* 71* 3

*tie

-1

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

20201.1

# of Deals


2016

16,689.0

18

2

5*

25175.2

2

4.6 19*

-71*

48*

37*15

# of

4.6

158.8 - 750.8 ▲ 2.1 45

2 ▲ 0.0 0.0 - - - .4 102

4

4

40*

19*

▲

-8

▲

12*

1,339.5

1,410.7

-

▼

1,210.9

55.918* 37*

18*24* 21* 24*

Deloitte

Goldman Sachs & Co

Houlihan Lokey

36

14

29

18*

46.7

18

9

▼

Advisor


Change (%)

11

2*

100.028

746.8

Rank

-24.1 16.5

Jan 1 - Jun 30

10*

14*

21.4

41,117.8

-3-

25.6

2.2

3.5

21*

3

Euro mil

5.8

2.2

▲

4.2

-

24*-2.2

22*

-

0.0 Jan 1 - Jun 30

-4

751.4 ▲

-

1.1

▼

0.0

100.0

2

100.0

-

--

-

11.5

1.2

6.0

-

-

-

22*

3

15.0

62*

0.0▲

2

-1 ▼

100.036.1

-24.8

-16

-93.4

3.7

▼ 1,177.1 1,070.2-5-

2

5

-

0.0-

-

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

1-

7*

11.6

Change in

-

-0.7

52.4

▲

0.0 0.0

42*

6*

92*

21* 4

100.0

42*

66

▼

210.1 451.1

1,314.5

1

100.0

▲

-

1

57.1

-

41

13* - - 3.2 31 100.0

▼

18*

18* 10*

-

-

4

-66.7

-

▼

14*

5

4

21* 161

2017

Alantra Partners SA

Rank Deals

10*

16

9

5

4

Ernst & Young LLP

8

100.0

10*

▼

100.0

4

▲

Exp. (%)Fees

224.9100.0

6100.0

16*

7

18* 5

100.0100.0

7.9 52 58*

16

6.5-

55*

7

227.6▲-

10.0

▲399.3

0.0

25.3

** Fee

7*

40*

-98.9

0.0

218.613 196.4

Rank Value

2US$m


Roedl & Partner

Lincoln InternationalIMAPRothschild & CoFinancial Advisor

13.4

Capitalmind

24*-

Rank

1Rank

12

Daiwa Securities Group Inc

42*

0.016*


24* 71*

46.0 - - -0.0 0.0 -

▼

71* 4 3 0.0 - - -0.0 0.0 - - -

- -

0.02.8

-7*

8*

▲

6

6*

100.033.4

▲Global M&A 24* 16*

7.5▲0.0

-10

▼

-

▲

▲

0.0

7

1.0360.0

▼

160.2

100.0

4.2

2.0 46* 100.06.6 12*

▲

57*

185.0

32*7*

24* 2.5

4 3 ▲Duff & Phelps 24* 71* 4 3 ▲

4 -2 ▼



42.51,078Industry Total 431.0

▼

-148 ▼

19

7*

-

31.2

4.0

4.0

124.0

58.2

GCA Corp 24* - 4 4 ▲ 405.9 381.8


▲

8

Rank Value

1.3

▲

2.3

-▼

0.0

▼▲

33.6

1,209.1

-

-2

5 ▲

4-30.0

24*

-2 688.2

7

1,594.6 1,470.0

8

-

Ludwig & Co GmbHClairfield InternationalCushman & Wakefield Inc

15,364.4

38


-17 2114.7

30*

10* 16*

-1

5* ▼

48*

44.0

▼

3

14*

398.2

1.5

5

14*

10* 21*

37*

100.0.7 84* 25.0

0.0

0.0 - - -

24* 48* 4 2 ▲

Lazard100.0100.0

▲

9.3

100.0

5.09.0

---

▼

2.3

2017 2017

100.0

19.7100.0



-1

Globalscope

- -751.4 688.2 7* - -

0.0

0.0

48.6

1

5 2

16

100.0▼

7

6.6-

100.08.0

100.0

7.0

3

4.0

▲0.0

Barclays 34* 71* 3 2 ▲ 405.9 381.8 13* 71.5 ▲ 24.3Concentro Management AG 34* 8* 3 -10 ▼ 0.0 0.0 57* - - 3.0 100.0Network Corporate Finance 34* 21* 3 -2 ▼ 3.5 3.3 - -92.3 ▼ .1 111* 100.0

-

100

200

300

400

500

600

700

800

$0

$2

$4

$6

$8

$10

$12

# of

Dea

ls

Ran

k Va

lue

(US

$b)


26.8%

23.8%

11.1%

7.9%

7.5%

6.8%

5.9%

3.7%

3.1% Real Estate

Industrials

High Technology

Financials



Healthcare

Telecommunications

Energy and Power

Materials

Retail

9


Italian Involvement Mid-Market Rankings (MM7)

*tie



27*

1

-19

Unione di Banche Italiane Scpa

IEG-Investment BankingJones Lang LaSalle IncBanco Fator SA

Goldman Sachs & Co

Banca IMI (Intesa Sanpaolo)

IMAP

Rothschild & Co

Arkios Italy SpAKon SpA

UBS

Leonardo & CoDeloitte

0.0

12*

63*

56*81.3 22

3.04

5.3

-28.9

2.4

-

12*

0

-3

▼

-3

Rank Value per Advisor# of Deals per Advisor

13

11

13463.1

9.6

0.024

-

Euro mil

▼

34*

16*

8

2 ▲44*

77.6

2.0

▼ 2.0

19.0

▼

-4

0.040.9

1

Deals

-74.0

370.35.4

▼

6

3 100.0

-

100.0

30.6

▼

# of Deals Change (%)

100.0

-54.9

** Fee

- - -

-

0.0

0

▼

-

▼

97.75*

44*35.3

-

-216

Spada Partners

MediobancaMorgan Stanley

48.5

-35

-

33

439.7

▲

KPMG

Credit Suisse

8.5-

12.01

0

19386.8

13.2

157.8

RankFees


100.0

Rank Value

13

Lazard

0.0

-

15*

7

5

10*

-32.4

-610

17*

83.5 ▼

-

▼

1

1.9

145.6

2

10*

▲9

-

.6

-5 ▼

3*

0

14*4.2

▲

71.7

4-96.2

-25

177.8

5

5*

100.0

5.9 5.6

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

Fineurop SpAIMAP- Vitale & Co

JP Morgan

44* ▼

413.7

Oaklins (FKA M&A Intl Inc) 4.0

Societe Generale

3 0 -22*

1622*

42*21.6

0.0

56.7

14*

- -

2-51 ▲

-

340.9


27*

0.0

193.2

4

-

193

10*7.0

2

2 -

▲

0.027*

0.7 61*2

100.0

-1

7.9

5* -1

56*

100.0

Jan 1 - Jun 30

▲

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

27*

8.01.2

65.4

2017Rank Value

44*

208.316

88.9

27*

2

▼

100.0

117.9

100.0

20

78.1

490.4

-

100.0

20*

2

4

2091.7

-

227.8

▲

10*

▲

-

9

13

6

12*0.0

-13

0.0

100.0

109

100.0

--

4▲

31.8

-

100.0

▼

14

66.9

108.3

4.2

15*

7

7.0

13

5

-71.627* 12*

-4-9.6

327*

28*

0.0

44* 65.0

30.0

2.3▲

▲

2 127*

4

-

▼

2

24

--

Rank

▼

380.9

--2

5*

▲

▼

10

-

-29

6*▼

5.9UniCredit

Ernst & Young LLP

-

2016

3


142.5

299.9

327.3

100.0

100.0

362.8

100.0

3.2

12

32*▼

24Financial Advisor

2017Change in

24Rank

3

0.0

2017

7.5

2.8

1.680.0

44*

4 ▼-50.7

12* ▲▲

▼

8.6

9

3-

--

22*17*

17*-

DVRCapital SpA

0.0

20.0▲

Bank of America Merrill LynchAlantra Partners SA 100.0

▼-65.8

2160.1

2.0Citi

-

-93.6

-- -

12*

28* 100.0-

100.0

0.9-

28*

34

▲

-

22*

▼-95.2

0.0

5

11

42*

▼

100.0

20*

150.68330.2

17.030.0

-3 28

2573.3 31

17*

Exp. (%)

Jan 1 - Jun 30

1.1

27* 20* 2 -2 ▼27*

20

17Industry Total 8,857.3

22*

-83.1

-

9,587.8

3 2-

▼87.2

Advisor

12

43.4

-87.1▼5*

8*

BNP Paribas SA

2▲

110.0

2

13.7

76.1


▼1

0.080.6

5

US$m

# of

12*

225.7

-223

▼ 72.3

6

▲

Rank

364.7

8*

-85.2

22.3 20.3

0.0

247.7

0.0

-106.5 100.0

17*45.8 -88.9

-

6*

0.03*

Deutsche Bank

Clairfield International-44.6

421.4

-

654

-

50

100

150

200

250

300

350

400

$0

$1

$2

$3

$4

$5

$6

$7

$8

# of

Dea

ls

Ran

k Va

lue

(US$

b)


21.3%

17.2%

13.8%

11.4%

10.6%

6.9%

6.3%

4.5%

4.2% 3.8% Financials

Industrials

Real Estate

High Technology


Consumer Staples

Retail

Healthcare

Materials

Energy and Power

10


Spanish Involvement Mid-Market Rankings (MM8)



26*

Citi

Deutsche BankHoulihan Lokey

1

12*

345.5

Alantra Partners SA 20* 6* 2 -7 ▼ 0


*tie

Credit Suisse

Evercore Partners

Oaklins (FKA M&A Intl Inc)SantanderMorgan StanleyNorgestion

Ernst & Young LLPKPMG

PricewaterhouseCoopersFinancial Advisor

BNP Paribas SA

1

537

Mediobanca

-

228.1

9.1 6

-0 0 - - -

174.0 163.1

205.9

1

-

9.7

▲

380.0 356.3

3420.08*

Rank

2

31

20*

472.4

Lincoln InternationalIMAP

0

-2

20*

-39.8

▲

# of Deals US$m

4

5

71.3

-5

-

14.3

0

-

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

174.03

43* 226* 2

-

-

2.3

41.0

-3

26*

23* 100.02.0 23* 100.01.0 31* 100.05.8 8 100.0

1.0

-15

▼308.6

1318

608.9

--

163.1

1.7

64.2

-78.0

-105.4 95.4 - -

194.0 18

▲

-


3.6

▲

▼ 6.7

Fees

4

4

15*

18*10

4

274.1

2 ▲

1 ▲0 -

9.2▲6

6

1.9

32

Advisor

▲ -

651.6

11

20*20*

100.0

2.0IREA Corporate Finance

BBVA

Rank Value

-64.1 15.7

16

70.3

3.3

-

43*

427.2

2016

8*

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

8

100.0

11,274.2

100.0

-10

-

20*

345.4

2.0▲

20*20*20*

171.4

2

6

▲

03.6-

3

▼

5

12*

100.0

4-68.7

22.2

281.4

Rank

27

31*

-

- 2 2-

12

19.412,213.4

-

▼

Jan 1 - Jun 30

16*

100.0

▼

▼

-51.8

▲

-

110

220.7 208.0 15 -

1

10*

100.0

-22.9

14100.0

▼

0

8

-37 256.4

3 2 ▲

5

2

15*42.5

51.3

▼

323.9

▲

▼10*15*

▲3

-2



5

20*

Euro mil

295.2

▼

1,073.6

-

322.8

▲

801.1

6*

7

▲

180.0

6*

19

Rank Value

Montalban Atlas Capital 34Societe Generale

6

Jan 1 - Jun 30

100.0

37.6

Deals

100.0

Rank

1

20* 100.0

0 0 - - -

100.0

2017

▲

3.8

17.0517.2

2.8

Goldman Sachs & Co

Eurohold SL18*Lazard26*

991.0 1

23*

▼

-

2017# of

▼

Change in

3

0

2

7

- -▲

2.0 23*

▼ 206.0

2.3

39.0

-3

-4

11 282.4205.8

22

203.5

16

1

38

19 574.8 ▲

34

12.3

264.4

-70.81.0

-

31*10

27

7

13*

0

-

8*

9

-2

▲

▼Change (%)

9745.9

187.3

59.264.3

4

1.6-

2

2017

15*20*

-

▼

31*▲

180.0 16*

20*

CFI 20* 18* 2 -1

0 0

10*

▲9

6*

1.5

3

▲

0

160.2

2-99.3 ▼

-4

253.424.1

4.8

-79.1

Rank

322*

59.7▲

3

UBS

43*

1.1 30

Industry Total

BDOBaker Tilly International 20* 43* 2 1 ▲ 0 0 - - - 0.2 50 100.0

100.0

Deloitte

GBS Finanzas SA

JP Morgan

Exp. (%)

206.0 ▼

189.1

** Fee

- -

-▲

26* 2 0

3.5 15

43* 2

22* -

Cushman & Wakefield Inc

Jefferies LLC 20* 43* 2 1 ▲ 142.2 135.0 24* - - 4.0 11 100.0

15*


100.0

43*

18.3

473.7Rothschild & Co3

18.1

5

12*

13*

▲4.1

▼ 28

4.4

43

▼

CBRE Holding SAS 20* 26* 2 0 - 375.2 346.4 7 236.2 ▲ 2.5 19 100.0

- 2

1

2

▼

155.1

20* 18* 2 -1 ▼ 0 0 - - -

2

1.0

14

39.3 ▲ 1.0 31* 100.0


0 39* - - 1.0 31* 100.0

100.0

100.0

04

-

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)


22.1%

20.0%

11.1%

10.1%

9.8%

9.0%

3.7%

3.6%

3.5%

3.5% 3.3%

Real Estate

Industrials

Energy and Power

Healthcare

Financials


Consumer Staples

Telecommunications

Materials

High Technology


Retail

11


Nordic Involvement Mid-Market Rankings (MM9)



Credit Suisse 19* 58* 4 3 ▲ 15.3 14.2 44* -95.8 ▼ .6 76* 12.0Lazard 58* 4 3 ▲ 450.4 415.4 2* 84.8 ▲ 5.0 12* 26.2Oaklins (FKA M&A Intl Inc) 9 4 -8 ▼ 12.4 11.1 - -83.6 ▼ 3.3 19 100.0

Morgan Stanley 19* 37* 4 2 ▲ 450.4

6FIH Partners AS

-100

Handelsbanken Capital MarketsSEB

Rothschild & CoIMAP


*tie

2016

419.1 2* 285.9 ▲ 6.5 8 32.80 100.0- -

▲

Ernst & Young LLP

Danske Bank

ABG Sundal Collier


0 -

US$m

-

89.3

3.0

16*

3.1

0 -

1*

1.0

3.528 -89.1

20638.2

0-

.5

-4 ▲

▼

27* 33*

331.012,209.9

21

-

-

88*

4*8

Fees

11* 5*

18*

14*▼

10.0

282.2

--61.25

-25

5

Carnegie

Financial Advisor


-5▲ 0

-15

12* 14.9

7

45

596.0▼

▲-25.1

1233.9

6▼

-27

342.3

▲

Change (%)

Rank Value

▼2

46*

53


5

-73.6

▼

28.8

23*

▼

Jan 1 - Jun 30

102.3

9

4*

3.7-7

23

365.0

100.0

8.837.53.8

48

-1 10.1

7

59.8 ▲

100.0

16* 2

100.03

78*

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

Rank

▼

-

-78.59

0

-21*10.676.1

-

16

6.0

-96.0

45.2

8


405.3

Rank

2.0

17

8*

-57.01 345.3

100.08

2017

▼

-

80.7

▲

100.0100.0

20

▼310.8

-67.9

** FeeChange in

14*

Jan 1 - Jun 30

▼

10

16*

11

92.7

100.0

1*

100.0

10

7.6

Euro mil

9 6.2

0

2

2017

40.1

-

2▲

11* 1

-

Rank

100.049.0

100.0

10

5.0 12*

1.114*

5* -4

-

10.6▼

10

21*

-

KPMG

113.9

15

7

10*

5.2DeloitteMid-Capital

308.9

3115.3 14.357.3

▲53.1

▼

2 5*


▼


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

Rank

2017 Rank Value

Industry Total

19*

▲

1,068

3

0

11,243.4

▼2.8 25 100.05 1

▼ 50.2

# of Deals

# of

▼

514* 58*

13

1

-

-26.3

Advisor

▲

13.7

-59.4

Exp. (%)

66.7

-10

54*

▲14*

8*

15


-


Deals

19*

-14*

100.00

-

▼

Capitalmind


18*

Globalscope80.9

100.0

▼

1

-10

-

100

200

300

400

500

600

700

$0

$2

$4

$6

$8

$10

$12

$14

# of

Dea

ls

Ran

k Va

lue

(US

$b)


23.1%

14.9%

13.9% 9.6%

8.6%

8.4%

6.5%

5.3%

4.8% 2.8% 2.1% Real Estate

Industrials

High Technology


Energy and Power

Materials

Financials

Consumer Staples

Healthcare

Telecommunications

Retail

12


Benelux Involvement Mid-Market Rankings (MM10)



Alantra Partners SA 24* - 3 3 ▲ 31.4 29.3 - - - 0.3 110* 27.3Jefferies LLC 24* - 3 3 ▲ 468.2 435.9 14 - - 4.4 20* 44.4Societe Generale 24* - 3 3 ▲ 200.8 183.0 - - - 2.9 30 100.0

Daiwa Securities Group Inc 24* 65* 3 2 ▲ 201.1 185.0 - 81.2 ▲ - - -Robert W Baird & Co Inc 24* 39* 3 1 ▲ 307.1 284.3 18 13.7 ▲ 3.8 26 100.0Quarton International 24* - 3 3 ▲ 0 0 - - - 3.0 28* 100.0

Natixis 24* 39* 3 1 ▲ 2.6 2.3 - - - 1.0 62* 100.0Cushman & Wakefield Inc 24* 65* 3 2 ▲ 48.6 46.0 - - - 2.2 36* 100.0HSBC Holdings PLC 24* 29* 3 0 - 477.0 424.4 12* 150.1 ▲ 3.2 27 21.6

BMO Capital Markets 24* 65* 3 2 ▲ 534.7 478.1 11 2038.8 ▲ 0.7 96* 100.0

882

10.1

▼

13*

Industry Total ▲18,540.3

5

-

8.2

0

-1

-1024*

11.0

▼ 544.9

48.8

20-3

24* 65*24* 3

174


DC AdvisoryBaker Tilly InternationalDeutsche BankNIBC NVGlobal M&A

DeloitteOaklins (FKA M&A Intl Inc)CapitalmindPricewaterhouseCoopersKPMGErnst & Young LLPLazardRabobank NV

▲

-1 ▼

▲

37.1Jones Lang LaSalle Inc

IMAPINGRothschild & CoFinancial Advisor

Goldman Sachs & Co

Change (%)

589.2

▲

413

3

4

50.912

Jan 1 - Jun 30 Benelux Mid-Market M&A up to US$500m by Rank Value Range

7

▲

9*

1,553.0

▼

▲-40 569.5

20.4

25 -2

-139

51*

0

10

-

2.4

34.5 44 -88.9

19233.7

Euro milRank Rank

Change in

7*

29*

8

# of Deals

20

13*

10

3 150.0 134.2

4

7*

-

0

3

18*

-69.5


6

44 2

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

Exp. (%)

17.0

10.5

-

▲

47.95

16.4

29*

▼


88.7

▼

Jan 1 - Jun 30

42.2

Advisor

100.0

▼


12 4938.7

18*

100.0

2*

▲

▲

** Fee

7.4

581.5


*tie

5

-90*

▲-44.4

1,239.5

15.4

1

110

59*0

2017

11

1,326.8

▲647.0

10.0

7.2

619.8

3

320

8127

13

-

56.9

82.11

15

2017

18*

100.0

58.5

14*

25

4.1

6

# of 2016

15*

25.5

6.0

Deals

1*

15*23

36.311 20

56

Morgan Stanley

7

5

▼

1,140.6

BarclaysCBRE Holding SASBank of America Merrill LynchCredit Suisse

CFICiti

4.4

11.9

285.9

1,243.4▼

1

15.6

-

43.7

▼

4

210.8-10

-

100.0

18*

8

2*

▼993.1

45.6

100.0-

1518.5

▼ 100.0

2.039*

233*

116

18*0

21.2

15*

18*

9*7*

▲

1

0

31.6

41*

7

-

31.420,071.7

24*

13-▼

100.0

▼4

0 -

▲ 122.9-

-

-2.0

▼

▼-68.2

-12▼

-7.711

9*

-

-9

20*

1,426.6

106*5

9

7

-

14

4.3


▲

-

254.5-


Rank

Rank Value

23

-

-

17.4

100.0

15

0.42.0

508.4 10 38.22

9.5

▼

6.6

0

260.0 21 ▲

42.4

11

4.0

▲851.7

-1

-1 ▼▲

-

9281.7 ▲

-

-75.2.9

0 -

-10

US$m

Rank Value

Fees

22

73.4

100.0

▲

298.1

100.0

18.2

1.3

3277.2

31.3

66.8

16

▲

4

11.0

275.4

-

Rank

▼5

64.3

-57.2

1,079.7

51.1

4.0

5.9

41* 100.0

▲

3

6630.5

585.5▲

3

2017

0

39*

39*

1

24*-

- 937.4

18* 23 4

18*

24* 100.0

17

-73.4 ▼

6.1

100.0

450.4 419.1

018*

39*

0

24*24*

-

-

100

200

300

400

500

600

$0

$2

$4

$6

$8

$10

$12

$14

$16

# of

Dea

ls

Ran

k Va

lue

(US

$b)


18.3%

12.7%

10.9%

9.9% 9.4%

8.3%

6.7%

5.9%

5.4%

4.5%

4.1% 3.9%

Real Estate

Financials

Energy and Power



Industrials

High Technology

Consumer Staples

Retail

Healthcare

Telecommunications

Materials

13


Eastern Europe Involvement Mid-Market Rankings (MM16)



Lazard 17* 36* 1 0 - 0 0 23* - - 8.0 5* 41.0

Azimutus Associates Sp zoo 17* 36* 1 0 - 39.6 34.6 14 - - 1.1 25 100.0Dome Group 17* - 1 1 ▲ 229.3 215.0 7 - - - - -Societe Generale 17* - 1 1 ▲ 0 0 23* - - 1.8 19* 100.0

VGD Corporate Finance sro 17* - 1 1 ▲ 0 0 23* - - 1.0 26* 100.0Equity Advisors Sp zoo sk 17* - 1 1 ▲ 9.9 9.2 21 - - - - -Grubisic i Partneri doo 17* - 1 1 ▲ 0 0 23* - - - - -

RSM International Ltd 17* - 1 1 ▲ 0.2 0.2 22 - - 0 53 -ACXIT Capital Partners 17* - 1 1 ▲ 0 0 23* - - 1.0 26* 100.0Daiwa Securities Group Inc 17* - 1 1 ▲ 0 0 23* - - - - -

Superia 17* 36* 1 0 - 123.9 115.0 9* - - - - -SEB 17* 36* 1 0 - 123.9 115.0 9* -48.2 ▼ - - -GCA Corp 17* - 1 1 ▲ 0 0 23* - - - - -

CBRE Holding SAS 17* 36* 1 0 - 259.7 243.4 6 - - 1.5 23 12.5SPARK Advisory Partners Ltd 17* - 1 1 ▲ 13.8 12.3 18* - - - - -UAB Summa Advisers 17* - 1 1 ▲ 0 0 23* - - - - -

BCMS Corporate Ltd 17* - 1 1 ▲ 0 0 23* - - 1.0 26* 100.0

KPMG

CFI272.3

Rank

6

Globalscope

Wielkopolski Bank Kredytowy

2016


*tie

CitiConcentro Management AG

Standard Bank Group Ltd

BNP Paribas SADanske BankHoulihan LokeyBank of America Merrill Lynch

KBC Group NVTaiga Capital

Morgan StanleyPricewaterhouseCoopers

10.022*

▼

23*

26*

-100.0

▼10*

-33.7

100.023*

12*

0 -

8.9

JP Morgan

▼16.9

Rank ValueChange in

251.55*

0

- 0.5

380.4

46.821

3

▼

1.0

23*1

-1

▼

-100.0

9*

8

▼

Financial Advisor

100.0

66.8

0.7-5

▼

11

-243.8

▼-74.2

41*

07

0.7

2.00

0

23*

# of

▲

23.2

1

3

2017

-

17*17*

21*-2 ▼

▼8

▲

0

-

2

-1

2061.1

1.0 100.0

15* 1

37*

- - - -

10*1

-631

1.0

10.5-


Bank Polska Kasa Opieki SA

26*

360.544*

▲

Norgestion- -

Global M&A

0 0 23* - - 0.7

Advisor

2.7 1544*

44

-60.8

9-

0.2

17*

Rank Value

5*


EE Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30

9,163.8

1

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

270.0

-

▼

4

12*2

7

▼-95.0

4

2017

23*

1352.56

▼

3.3

5

US$m

3.6

Fees

30.1 28.0

-

1537*

Deals

100.0

Ernst & Young LLP

23*-

1,422

37*

1

- 4.0

11*

2017

1,069.8

-28

1011

12

17*

▼

41*

249.7

23*

-16*

-

15*

0

195.174.3

3

13.467.0

Rank

01

- -

1

130

73.1

▲22*7*

** Fee

100.0

100.013.8

- 1.0 26* 100.0Singhi Advisors Ltd 17* - 1 1 ▲ 18.5 17.4 16UBS 6.5Bain & Co

2

17*

100.0

▲ -

017*

26*

0

100.0

-

10.91 ▼

▲

17*

Deloitte

1

IMAP

VTB Capital

Rothschild & Co

12

-8

-1

22* 145.3

268.4▼

52.6

100.0

41.7

100.0

-2.0

100.0

-

0.610.5

4

0

-2

70.0

6.0

23*

0

7*

Industry Total

▲▲ 25.4

200

▼-1 52

PRAGMA Corporate Finance 0 23* -

16*▼

1*

5

1.0

-3

1-

100.0.6

36*

10*

1.6

# of Deals

1*

0

61.0

▲

2

39.0

Exp. (%)

-

4.6

17*▼

-8.2

100.0-

-10

1

18*


0 0

1

15*Rank

2

26*

17*

12*

0

23*

17* 22* 1 -1 ▼ 0

17

▼

0

1.0

-12*

0 0

▲

7*▲

3

1

-236*12*

2

17* 36* 37*

26*

11*

22*

-

23* -

9,928.8

14.52


2

00

11*

0

-

0

7

-64.5

13

-1

11*

-2

48.6

-

983.8

0 -0.7

1

Change (%)

-16.7

0▼

3 12.3

23*

401.5

-

1 0 - 0 0 23* - -

▲

-19.9

23*

0

-

8207.45

7.6

-

▲

4

Jan 1 - Jun 30

-5▲

0.5


Rank


58.5

100.0

Euro mil

17.4

9.0

100.0Xenon Capital Partners 17* - 1 1 ▲ 0 0 23* - - - - -

17* 36*

-

200

400

600

800

1,000

1,200

$0

$2

$4

$6

$8

$10

$12

# of

Dea

ls

Ran

k Va

lue

(US

$b)


22.1%

16.6%

14.3%

13.6%

8.5%

8.1%

4.9%

4.3%

3.1% 2.4% 2.1%

Materials

Financials

Consumer Staples

Industrials

Real Estate

Energy and Power

Telecommunications



Healthcare

Retail

14


Hochinma Involvement Mid-Market Rankings (MM13)



Goldman Sachs & CoAmasse Capital LtdDongxing SecuritiesRothschild & Co

China Merchants Securities Co

China International Capital Co

*tie

China Construction BankAffin Holdings BhdDakin Capital LtdMalayan Banking Bhd

Lazard

▲8

48*

18.7

511.2

1


Jan 1 - Jun 30

17.0

3

-65.5-7.5

11.0

31* 19* 3

38*

-10 Hochinma Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30

19

43.2

24*32*

▲

Rank

9*

19.6

62.9

100.0

78.6

37* 31*

-

-37.5

115*0.9

▼ 133.7 120

100.076*

37*

11

7

55.3

6

7

26.2

42

66*-

-2

176*

78.3

1,489.2

11.6

▼

48*

18.0

27* 7*

6 433.4

4.1

31.01.822

24*

35.4# of Deals

3,239.8

▼8*

▼

11

▼

▲

Rank

37*

27*

▲ 351.4

1,187.5

-1.3 78* 100.0

37*

-30.8

14*

3.5

▼

660.2

66*

10

331.1

11

50.0

▼ 18

154*

229*

-

1.6553.3

-7

16*

22*

76*

34*

137*

-2▼

60*

31* 27*

10

35*

104.5 27*

-8

9

25

10

-5

22*

41 10

52.5

570.7

100.0

100.0

▲1,264.8

-

6

1,798.4

▼-48.8

37*

57.2

402.5

27*

-

60*

62

21

23

43*

-

4,339

-218

16* - 11

-4-2

Rank

-11

14.0

24*

19*

▲

▼

11

-4

16*

▲1,534.0 7

13

11

2017

▼

1

5*

Optima Capital Ltd

GF Securities

CitiGuotai Junan Securities

-158.7 -

7

10▲

27*63347.0

4.46

5

6

CITIC

China Renaissance PartnersVeda Capital LtdSomerley

Gram Capital

Financial Advisor


-33.9

75.6

▲2

Morgan StanleyKingston Corporate Finance Ltd

2017

▲13

19*

-16.0

508.9

291.0

9

1

1,490.0

▼

12

11

4.3

▼ 31.9

10* 13 1,880.1 31

1.9

# of

▲

-4.0

▲

1.4

66*

76*51

19*

34*

16* 14*

▼4

4

▼

-56.0

Mercury Securities

8.5

-87.8

K&N Kenanga Holdings Berhad4

-5

▲

37.0

100.0

8

-

189*

-

-3

▼5*

▼

10* 116

7*

256.8

14

331.2

78*

10


▼

Change in

745.4

-0.6

▲

▲

▼-10

-81.1 47

63

201.0 - - -3.7 31

-

40▼

▼0

27*31*

22*

-146.5

-

0.0

6 ▲

▲6 6 ▲

-137*

7

▼156,188.0

121.4

7

2▲-

-

-220

2.636.1

▲ 2.46 6 ▲6 5

-137*

-

1,367.6 12

0.2

22.1

-36.0

119*

▼


0.588.9

100.05 ▲ 134.5 -

1.6

Industry Total

Advisor

1,123.4

▼ 18.424

14

6

▼

14.8

140*▲

▼

28

100.0

12 4.3525.4 ▲

15.1

24

13

257.1

16*

38*

12

17

1,512.4

12*

Deals

16

3

8

9

100.034.6

▲

-13.3

860.8

▼

10*

16* 48*

100.0

100.0100.0

12

-3

100.014*

-36.9

1,310.3

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

-▼

955.4

- 232.8

165*

100.0

-

3

4


100.039.6

AMMB Holdings Bhd

US$m

Rank Value

Ernst & Young LLP

-

2

-

2017

2,280.1

-31.8

3

** Fee

100.0

34-65.0

2

▼▼ 100.0

4.71,710.7

1

4

10

Exp. (%)

Industrial & Comm Bank China

3.5

13

16*

Haitong Securities Co Ltd

14*

8*

Change (%)

5

110.5

126.7

-24

1,679.2

16

▼


1085.9

22*

▼ ▼

1,250.0

9.4802.4

1,049.121 -61.7

KPMG

31.2

Rank

▲

418

10*

CIMB Group Holdings Bhd

Octal Capital Ltd

22

10

▼ 6.1

-23.2

UBSHuatai Securities Co LtdRed Sun Capital Ltd

BNP Paribas SA

China CITIC Bank Corp Ltd

China Securities Co Ltd

11

9▲ -

22*

▲

▼

▲

-4

6

19

1,023.1

7 ▲

9*

2016

RHB

▲

100.0

393.6

11.0 -

15 -

Zhongtai Securities Co Ltd

18 46.6

▼

Crescendo CapitalINCU Corporate Finance LtdShanghai Securities Co Ltd

37* 137* 6 5

▼

▲

8

Altus Capital Ltd 37*

-

▼-

▲

-4

3.6

5.0

▲

-

1,384.2 11

-19 ▼

35*

▼

-7

2.9

▲

-31.3

0.8

-4▼

-

-47.5

- 1.6

▲

916* 9

- -

6.4163.0

-52.3

9.0

125.8

-51.5

67.4

2.5

Fees

65.3

10.0

5

-

Rank Value

5.0 - -

-315.0 - 6900.0

31.4

1,025.0 20 422.2

-

0.3 176* 100.0

862.3

1.3-

▲

▼

34*

2.35

0.4

-

0.3▲

16* 14

100.01.6 66* 100.0

Industrial Securities Co Ltd 37* 38* 6 -1 ▼Deloitte 37* 31* 6 -2 ▼TC Capital International Ltd 37* 98* 6 4 ▲

▲

-

500

1,000

1,500

2,000

2,500

3,000

$0

$20

$40

$60

$80

$100

$120

# of

Dea

ls

Ran

k Va

lue

(US

$b)


16.1%

15.9%

14.5%

13.7%

8.9%

6.8%

6.0%

5.2%

4.7%

4.6% 2.2%

Real Estate

Financials

High Technology

Industrials

Materials

Energy and Power

Healthcare



Consumer Staples

Retail

Telecommunications

15


Hong Kong Involvement Mid-Market Rankings (MM12)



** Fee

Messis Capital LtdChina CITIC Bank Corp Ltd

China Merchants BankAnglo Chinese Corp Finance

1

Dakin Capital Ltd

BaoQiao Partners Capital LtdTC Capital International LtdTitan Financial Services Ltd

F.E. Corporate Finance Advisor

*tie

25*

▲976

Nomura

INCU Corporate Finance Ltd

Zhaobangji Intl Capital Ltd

Altus Capital LtdChina Construction BankAmasse Capital LtdUBS

Octal Capital LtdRed Sun Capital LtdHaitong Securities Co Ltd

Kingston Corporate Finance LtdVeda Capital LtdSomerleyGram Capital

Hooray Capital Ltd

RHB

Platinum Securities Co Ltd

Opus Capital Ltd

16 1208.5

100.0

VMS Securities Ltd

6.1

Jan 1 - Jun 30

97

- 63.9

4

-9.5

▲

▲

100.0

25* -

4

3

▼

19*

4

266.3

19*

Change in

28

100.036* 399.15

73.1

8 3.8

25

508.9

55*-

-

0.8-

93*

-

25*

114.4

1050.4

94

0.8

4

--96.4

27*7

1010

3

20*

107*-

-

13*

59.5

2016

▲

1.0

20*

64*

55*

35*

3

13*

34

12

Deals

1,183.6 5.397.5

▼

100.0

7104.6

1.8

10

1.33

962.7▲

293.4

▼ 15*

US$m

20


FeesRank

25*

51.5

328.8▲

36*

- 3

205.9▲

7

216.8

13*

-78.9 1.1

--1

0.3

▲49133.7

0.8

▲

55*

6 12

▲-

100.0

100.9

0.2

137.9

▲

▲

0.1

58* - 6044.4

58*

100.0

-46.2

-

3-

-

104* 6*

36*- 37*

6

9

55

- 0.1-

▲

25*25*

25*

21*

-

25*

-

▼

4142.3

3

▲

-


2258*

4 3.4

13*

19* -

5

-

19*

-

-

-

▲13*

▼2.6

1

100.03*

5

Industry Total

-

100.0

13*

8.1

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

10 ▲4*

13*

189.9

▲

2

-80.6

1

▲58*

3

-

-

-

▲

2.3

3*

▲

0

11

27.0

58*

76.0

4

5

▲

-1.3

0.8

Crescendo Capital

100.0

100.045*

4*

Rank

6.9

Change (%)

207.9

Jan 1 - Jun 30

Exp. (%)

100.0▲

1,092.1

617.5

▲

65.11

4* -

4.4

109 ▲

6

4 ▼461.4

9*

8 9

6*

1.6

9*

2017

832.7

331.2-▲

1,367.9

▲

4.1

8

▲

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

4.5

2017

100.062.91236*

-22.6

31.6▲

1037

Rank Value

8*73.1


-2

Lego Corporate Finance Ltd

▲

▲

▲

▲

0

2.6

▼

▲3 1

▲2

-

100.0

9*

3

25*86*

13

15

100.0

Rank Value


Akron Corp Finance Ltd

904.4

▲

10.8

25.8


2017

6

58*

Rank

5

36*

0.4

0.3

107*

3.5▲793.6

2.2

36*

2

▲

1

1.1▲19*

▲

3 -1Goldman Sachs & Co

Financial Advisor Rank

21

4

1

47

Advisor

63.8

236.6

16

43*

▲5


349.93* 3

▼58*

-

-

100.0

5-

37.1

880.1-

▲-

13*

-

25* 5

1.2

43*

19*

▼

38,489.8 20.3

-

# of Deals

86*

020*

4

35*

100.0581.7 10 -15.2

412.4

5

# of

▲

-

100.0

▲

109.4

▼

100.0

100.0100.0

3

1100.0

109.3

▲8

15*

52.1 -▲

▲

7

-

110.5

3

-

25*

92.0

100.0

276.5

-

20

389.8

100.052.4

147.4203.3

-

Nuada Ltd

BNP Paribas SA

Optima Capital Ltd

▲

5

4 0.6

-

7*

2

3

100.0

56.0

10.8

3

4.3

79*

▲

-

13*

141.5

3 3 ▲

100.0▲

-

100.0

▲

3

100.0

55*

20*

165.0

-

100

200

300

400

500

600

$0

$5

$10

$15

$20

$25

# of

Dea

ls

Ran

k Va

lue

(US

$b)


24.4%

22.8%

8.3%

7.0%

6.6%

6.6%

6.4%

5.9%

5.1%


Real Estate


Industrials

High Technology

Energy and Power

Consumer Staples


Healthcare

Materials

Retail

Telecommunications

16


Australia/New Zealand Involvement Mid-Market Rankings (MM11)

*tie



Ernst & Young LLP



Financial Advisor

14*

▲

0

194.5

Rank Rank

Rank Value

3

86.03

18.0▲

-213

19*

5*9

24.8 1.0

Clairfield InternationalAllier CapitalRSM Corporate Fin LLP

Miles Advisory PartnersBaker Tilly InternationalFort Street Advisers

-

0

0250.4-

19*

2

49*▼

▼

-

19*

7▲ 233.2

0.5

23*

3*

104.2

▼

2100.0

77

-39.7

-

100.0

19*38-

2.0

-

--

23

-4

23* 2

14*

-19*

-

02.0

-22.6

997.6

17

2 ▲23* 2 0 -

- Aus/New Zealand Mid-Mkt M&A up to US$500m by Target Industry

1

-

-83.3

2

▼7

0

-5

4

-3

▼-

-0 49* - -

363.6

11 -3

-

19

1 ▲

▼

35 ▼

Change in

▲ 911.0

8

▲

▲

** Fee

Exp. (%)

2

9*

11*

14*


-65.3114.7

2 2

61.610

40*8

2

19*

-2

23*19*

-▲

013

6

137.2

3.0

42-

49*

23*

8*37* 14*

Rank

▲

3*

11*

36.0

215.4

▲


11

-100.0

8.7

# of

6*

912*

3*

2016

Australia/New Zealand Mid-Market M&A up to US$500m by Rank Value Range

100.0

2-44.3

6*

80.0

573.5383.2

▲

1*

Industry Total

Jan 1 - Jun 30

2.6

18,819.2947 300.5

63

31.0

-1

36.0

▼


6

20-79.2▼ ▼

1

14*

5*

▲

11*26*

12*23*

6

▲

832.1

4

44.4

6*

-79.6

5

-48.73*Goldman Sachs & Co

Macquarie Group

Houlihan Lokey


Deutsche BankBDO

Grant Samuel

CIMB Group Holdings BhdHighbury Partnership Pty LtdJP Morgan

RBC Capital MarketsCitiMorgan StanleyBarclaysCredit SuisseNomuraGresham Partners

Moelis & CoKPMGRothschild & Co

UBS

4

▲▼

274.2

338.6

-

▲

0.2

-4.2

2 17

19* 37*

16

0

-

▼115

7.8

01

19*19*

14*3.1

69.1

0.9

221.6

2 1 ▲-

2

-

-

0

2017 Rank Value

Jan 1 - Jun 30

7

2017

25302.6

6.4

6.0

-

-

16*

47*

4

▼237*

8.8

784.9-5.9

16*

▲

-

▼

7

0

16*

16* 0

▼

130.6

12

3

4

10

1,332.7

-19

100.0

39.0

-

100.0-

3

14* 100.01.0

46.6

3

47*▲

12

▲

- - -

-100.0

26.7 - 55.2 ▲0.6

- -

-

8*

▲

US$m

Advisor

19*19*19*

37*

Rank

100.0

1


Fees

511

10.4

▼-4.1.2

1▲5 65.2

2017

- --

82.14

2

11

Deals

16.1▼

4.4 21.6

11.5

19*▲

4.1

16.6

1*Change (%)

4.2

100.0

512.8

-

12*

# of Deals

3

-2 ▲

26* 100.0-

21

▲ 65.9

▲

78.5

9*

1,079.0

2.0

-


▲

100.0

100.0

12

-

22.7

.6

3.0

61.1

-

100

200

300

400

500

600

700

$0

$2

$4

$6

$8

$10

$12

$14

$16

# of

Dea

ls

Ran

k Va

lue

(US

$b)


26.8%

14.2%

9.7% 7.9%

7.0%

6.6%

6.2%

5.7%

5.5%

5.4%

4.7% Real Estate

Industrials

Materials


High Technology

Financials

Energy and Power

Healthcare

Retail

Consumer Staples


Telecommunications

17


Singapore Involvement Mid-Market Rankings (MM14)

*tie



100.0

Provenance Capital Pte Ltd

UBS

14,709.4

- 3

8*

4* 4

3

Rank Deals

2016

13.2

22*

- -

7.0

111*

-69.2-83.2

57.6

23*

10

3

▲66.0

2

318*

Fees

100.0


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

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

-16.5

100.0

16*195.2

8


5

1

▲

4

16*▲

US$m

▼

Hong Leong Financial Group BhdMoelis & CoGlobal M&ACitiStandard Chartered PLCEvercore PartnersDeutsche BankIndustrial & Comm Bank China

8.7 ▲-40 ▼Industry Total


482

Jan 1 - Jun 30

100.0

-

0.8

Jan 1 - Jun 30

Change (%)

** Fee

166.2

1.2

▼

26*

1.5

0.6

-24*

100.0

Rank

42.3

13* 33* -

▲

17 34.9

4

27

9.2

42.9

Rank Value

100.0

7.1

100.0

11*

2 1 ▲ 72.0

-

-

37*

3

33*▼

# of Advisor

-96.1▼

6.9

4

1.2

10.1 1

9*

9*

3* 2 ▼13* 33*

-

13*

▲

153.0

0

13*

-62.7

-

▼

Exp. (%)

2017

2 ▲

2.0100.0

▲

29.8

4.7

100.0

-26* 100.0

Zico Holdings Inc

Oversea-Chinese BankingJP MorganDeloitteCIMB Group Holdings BhdGoldman Sachs & Co

Morgan StanleyRHBCredit Suisse

▼-99.6

1229.0164.8

18*▲

▼



▲

0.9

Rank

0.4

▼

-

151.85

Change in 2017

Rank# of Deals

254.9

219

2

4*

4

3

4*

1.0

5.72

0

1.0

2 -2

-33*

9*

-

18*

▲1

1

0 - -

▼1.6

- 2

BDO

71*

9

0 -11*

4*

400.0

KPMG

2017

22

40.0

-1

2.0

2

-

-

2▲▲

1

▼

-0.6

4

11

▼400.0

4* 3*


6-8*

0.5 29*7*3* -54.0-3 ▼

2

7

Rank Value

Financial Advisor

▼

18*5

▼

-15.0

-2

2

1*

7*

-1

▲2

82.7

-

360.018 -

2

- 2 ▲-13*

13*

▲18.3

285.7

18*

- - -150.1 12 - -

1.7 - -

3

1* 136.8-42

13*13*13*

47.5

-22.333.7

32*

3

35.0 -91.7

19*

-93.1

9*

-

▲ 12*

-

50

100

150

200

250

300

350

$0

$2

$4

$6

$8

$10

$12

# of

Dea

ls

Ran

k Va

lue

(US

$b)


31.8%

13.1%

12.6%

12.3%

8.5%

6.7%

5.3%

3.6% 2.7% 2.6%

0.6%

Real Estate

Financials

High Technology

Industrials


Energy and Power


Materials

Healthcare

Consumer Staples

Retail

18


Japanese Involvement Mid-Market Rankings (MM15)



Gracchus & Associates Inc 36* - 2 2 ▲ 5.8 - - - - - -F&Link 36* - 2 2 ▲ 5.8 - - - - - -Stewart McLaren & Co 36* - 2 2 ▲ 83.3 - - - .8 65 100.0

Akasaka International Account 36* - 2 2 ▲ 34.6 - - - 0.1 85* 100.0Azone Partners 36* - 2 2 ▲ 71.8 - - - 0.5 70* 100.0RSM Corporate Fin LLP 36* 44* 2 0 - 0 - - - 2.0 36* 100.0

Avendus Capital Pvt Ltd 36* - 2 2 ▲ 0 - - - 1.0 46* 100.0NEC Capital Solutions Ltd 36* 31* 2 -2 ▼ 1.8 - -90.9 ▼ 1.1 45 100.0Lazard 36* 26* 2 -3 ▼ 115.0 - 74.0 ▲ 18.1 8 38.4

Credit Suisse 36* 37* 2 -1 ▼ 157.9 - 7.9 ▲ 7.6 18 58.9Lincoln International 36* 37* 2 -1 ▼ 0 78* - - 4.6 23 100.0Global M&A 36* - 2 2 ▲ 0 - - - 1.0 46* 100.0

9.8Houlihan Lokey 36* 44* 2 0 - 0 78* - - 4.0 27 22.1Deutsche Bank 36* 26* 2 -3 ▼ 66.0 - - - 13.6 13 30.0ING 36* 59* 2 1 ▲ 0 - - - - - -

Goldman Sachs & Co 31* 31* 3 -1 ▼ 495.5 10 150.6 ▲ 21.9 7 25.1

-77.5▼ 10.7

▲44*

4Sangyo Sosei Advisory IncTokyo Financial AdvisersMoelis & CoRA Capital AdvisorsNetwork Corporate FinanceRothschild & CoYAMADA & PartnersGrowin Partners Inc

Duff & PhelpsSumitomo Mitsui Trust HoldingsAGS Consulting Co Ltdes Networks Co LtdErnst & Young LLPFrontier Management IncMorgan StanleyMaxus Corporate Advisory IncCorporate Advisers

PricewaterhouseCoopersDeloitteKaede GroupDaiwa Securities Group IncNomuraMizuho Financial Group

-48.4

14.5

29.5 - -30.416*

Fees

2017

▼


15

6

4

2

-4.1

3

2017

▼

2

4

6

44*

▲

100.0

Change in

1

25

28

14* 12

36.4

Plutus Consulting Co LtdMitsubishi UFJ Morgan StanleyGCA CorpKPMG

-

100.0

2,288.6 73.967.2

100.0

0.7

▲

3

100.0

10

-27.6-15

▼4

2

-

100.0

▼

9

26.7 69.4

44.8

Exp. (%)

** Fee

14Rank

▼3

0

▲30

0.3-5

7

2017

4.1275.9 6

80

2.7441.5

6.3

4

37*

24* 267.3

446.5

▲1.8

24-

Sumitomo Mitsui Finl Grp IncFinancial Advisor

100.0

▲568.3

31

375.8

179.0

10

▲

4

-37.816*

59*

-1415

417.9 1561.0

8.3

4

1,317.5

11

582.6-2

-

-5

# of Deals

Advisor

43.738

# of

164.42

▼

▼

-25.1

▼

100.0

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

100.0▲ 124.2

-15.6-2▼ .5

23*

65.1100.0

0.7

3

100.0

20 -8 ▼

1724

13*

-29.0

12.3

54.6

29

--

▼

3.3

7.2

15.1

▼

58

Rank Value

19

38

100.050.0

Jan 1 - Jun 30

CLARIS CAPITAL

102.7

17

-16.7

40.3

-

5▲

11*

1516

61.2

▼ 2224*

▼

1,718.5DealsRank Change (%)

100.0

▼

IMAP 31* 44* 3 1 ▲

*tie

24* 23* 0.2

691.5 47.7

100.0- - - 5.0

1,613 ▼

▼

US$m

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

14

-9.5

11.7

11* 14*26

▼

-17.22

11*

-16

25.5

-1241

-98.2

Rank

87

2016

▲ -18.9

Rank Value

5

20

16 16*

▼

713

68.1

▲▼-90.5

-

76*▼

▼

▲

-1

6

▼


▼

10▼

1010 -

30.9


Jan 1 - Jun 30

79

192.9

3,871.2 1

6


2,698.624.9


53.6

▼

- 4-

11

3

-2-92.4

5

1971.6

-3

4 4

19-250

8892.622

-

6

678.0

407.1 2.817*

▲

23

▲

39.123*

▼

15

-10 ▼17

▲

-

.9

17*

Rank

78 65.3▼

-5▲5 5623.014*

17

21*

.3

17*

24*▼▼

-


242.8

317.6

Citi

4

21*

24*

24*24*

5-1

3.1- 117.04.4

7

7.3 - -

26*

6 -

▼

438.0 13* -

15.939*

-29.1

-3

46*HSBC Holdings PLC 31* 59* 3 2 ▲ 200.2 23 36.8 ▲ 1.7 39* 100.0

4

-2

6.3

53.7

524.2 9-6 ▼

4

7

- 1.0

5

▲

191

4

- - 76*

143.9

▲6

70*

▲

17*

2032

-

14

9

63*

1.7

-▲▼

-

--

1244.9-

21*

438.0-

1279

▼

▲ 11.7

1,095.8

-136 24,236.3Industry Total

Alantra Partners SA 31* 59* 3 2 ▲ 47.0 - 127.1 ▲ 1.0 46* 100.0

JP Morgan 31* 37* 3 0 - 391.6 16 3.1 ▲ 10.5 16

-

100

200

300

400

500

600

700

800

900

1,000

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

# of

Dea

ls

Ran

k Va

lue

(US

$b)


18.4%

15.4%

12.5%

12.5%

8.2%

7.0%

6.6%

6.2%

4.6%

4.2% 2.7% Real Estate

Industrials

High Technology

Financials

Materials


Energy and Power

Retail

Healthcare


Consumer Staples

Telecommunications

19


Chinese Involvement Mid-Market Rankings (MM20)



Industrial Securities Co Ltd 24* 27* 6 -1 ▼ 1,025.0 17 44.9 ▲ 0.3 116* 100.0

China Construction BankUBSDongxing Securities

Goldman Sachs & CoOptima Capital Ltd

Huatai Securities Co LtdGF Securities

China International Capital CoChina Securities Co LtdGuotai Junan SecuritiesCITIC

China Merchants Securities Co

China Renaissance PartnersGram CapitalIndustrial & Comm Bank China

Shanghai Securities Co Ltd

-

▼ 1,489.2

9 39*

15* 5*

Rank Value

18* 35*

1▲ 1.1

8

8

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

2017 ** Fee

1 ▲ 1,382.3 11 29.9 ▲ 8.9 7 64.0

2.9 23 67.4

Somerley 12*

▲ 2.4 28* 64.9

Zhongtai Securities Co Ltd 12* - 11 11 ▲ 860.8 22 - - 0.4 103* 100.0

Red Sun Capital Ltd 15* - 9

5* 16

-31.3 ▼

2.3 30* 10.0

2.6

37.0

MM20 - Undisclosed Values & Values up to US$500m Jan 1 - Jun 30

8

100.043* 8 4

Change (%) Fees

▲18.0

1 35.4-23

BNP Paribas SA

2017

10* 3 12 -10 ▼ 1,679.2 5 -16.0 ▼ 9.0 6 26.2

583.5 - 678.0 ▲ 3.3 100.0Veda Capital Ltd

14.9

0.9

▲ 328.2

-2 ▼ 1,250.0 14 14.0 ▲ 17.0 2

18*

91,451.5

2016 # of

# of Deals

14 11

126.7

Citi 20* 21

1

72* 34.6

2 ▲ 44.3

Rank

1,023.1148* 18*

18

Haitong Securities Co Ltd 3* 18* 18

1,512.4 7 -47.1 ▼

13 -4

1,534.0

US$m Rank

7 -2 ▼640.4 29

75.6

20*

▲

10

2

▲ 6.4 12

11

-15* 43* 9 5

16*

-2 1,049.1 16

862.3 21 -48.7

-

8

22

-9 ▼

13 3 ▲ 1,880.1 3 126.7 ▲ 1.2 46* 29.3-4 ▼6*

8*

26* 100.0

4.36*

53* 91.73* 4 18

Jan 1 - Jun 30

7 0 -

▼ 12.8 4 21.3▼

20*20*24*

28 -66.8 ▼ 7.9

5

China CITIC Bank Corp Ltd 10* 9 12 -4 ▼

-133.7

▲

24* - 6 6 ▲ 1,264.8 13 - -

653.57 4 ▲

6 -2 ▼

9

18*

39*1,384.2 43.2

2,853

*tie



-275Chinese Mid-Market M&A up to US$500m by Target Industry

45.7

48*27*22*

149* 0.076.5 ▲

▼ 125,394.1 -6.7 ▼ 786.3 52.4

14.713-87.8 ▼- -

5.7 14

Rank

48*

-48.2

371.4 - 14.7 ▲ 3.6

2,187.4 2

90

-61.7

▲ 0

5*

10

1,003.4 19

1,798.4 4

2017 Rank Value Advisor

▼

-5 ▼

5.8

6 31.4

1,321.3 12 415.3

10 -23.2 ▼

7

▲

1.6

-4

Industry Total


-60.5 ▼ 31.9

1.6

Rank Value per Advisor (US$m) Imputed Fees (US$m) †

▼

▼

Change in

-36.9▼

Rank

9 167.8

▼ 11.3

14

14*

Financial Advisor

▲ 2,683.0 1 1025.4

40Deals Exp. (%)

2 29 -9 ▼

5

21 58.1

Morgan Stanley

-

500

1,000

1,500

2,000

2,500

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

# of

Dea

ls

Ran

k Va

lue

(US

$b)


16.8%

16.0%

14.3%

13.6%

9.7%

6.3%

5.9%

4.7%

4.5%

4.3% 2.4%

High Technology

Real Estate

Industrials

Financials

Materials

Energy and Power

Healthcare

Consumer Staples



Retail

Telecommunications

20


Indian Involvement Mid-Market Rankings (MM21)



Zico Holdings IncLazardRHB

Rothschild & CoDeloitteAvendus Capital Pvt LtdKPMGErnst & Young LLPFinancial Advisor

- -79.2 ▼ 3.1

Change in Rank Value

MM21 - Undisclosed Values & Values up to US$500m Jan 1 - Jun 30 Indian Mid-Market M&A up to US$500m by Rank Value Range

3*3* 5

1 1 10 -7 ▼ 331.1 6 -36.2 ▼ .5 38* 100.02 2* 8 -5 ▼

Change (%)Rank

# of

4 1

2017 2016

-

- - --

▲5.0

-11.5 ▼ 2.0 13* 100.0- 62.1 23

-

10* 2* 2 -11 ▼ 200.0 12* 16.4 ▲ 0.9 28* 100.0

0.3 100.0

10*

6* 28* 3 2 ▲ 0 - - - 0.6 34* 42.96* -

0 - 315.0 7* -23.2 ▼ -

6*

10*

46*

- 0.7 30* 100.0-

159.0 ▲10* 9*100.0

10*10*10*

15* 2 04.0 4 100.00.6

124.5 15 -

100.0

10* 15* 2 0Kotak Mahindra Bank LtdAmbit Corporate FinancePricewaterhouseCoopers

Globalscope

Axis Bank LtdJefferies LLCTranslink Corporate Finance

Sumitomo Mitsui Finl Grp IncMorgan Stanley

Singhi Advisors Ltd


758 67 ▲ 12,757.7 16.2 ▲ 203.1Industry Total

- - 0.7

2

-9*

3 3 ▲ 0 - -

2

-

25.9

3

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

6* 0 - 360.0 -

17 -88.9 ▼ 0.5 38*

-1 ▼

-

42.0 ▲ 2.4 9 100.05 0 -

9*

100.0

63.3

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

-5 ▼

Jan 1 - Jun 30

30* 100.0

121.5

-

▲ 429.9 1 48.2 ▲9*

-

▼386.7 2 - -

33.8 ▲337.2

*tie


Rank Deals # of Deals US$m Rank

2017 Rank Value

Citi 3 3* -53.9 ▼

Advisor 2017 ** Fee

91.0 21

6.0 2 65.2

Fees Rank Exp. (%)

- -

100.06* 5 1

- - -

5

- 2 2 ▲10* - 2 2 ▲ 18.5 - -

15* 2

- 1.0

5

3 ▲

19.1 30* -79.5

34* 100.02 -1 ▼

4

3.6 5

6*

0

10* 28* 2 1 ▲ 36.8 25

20*

-

50

100

150

200

250

300

350

400

450

500

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

$10

# of

Dea

ls

Ran

k Va

lue

(US

$b)


20.5%

13.2%

11.7%

10.5%

9.9%

8.7%

8.6%

7.9%

3.1%


Industrials

Energy and Power

Healthcare

Materials

Real Estate


High Technology


Consumer Staples

Telecommunications

Retail

21

Ranking Criteria Summary

-

-

-

-

-

Asia-PacificCatherina Guinto-RoldanTel: +81 3 6441-1142E-mail: [email protected]

-JapanKaori Motohashi (Ishida)　Tel: +813 6441 1338

- League tables, commentary, and charts citing announced activity are based on Rank Date and include intended, pending, partially complete, completed, pending regulatory, and unconditional transactions. Rank Date is defined as the earliest public announcement of when a value can be applied to a transaction.


Americas

Europe, Middle East & AfricaEwelina Jarecka

League tables include rank eligible mergers, acquisitions, repurchases, spin-offs, self-tenders, minority stake purchases and debt restructurings.

A tender/merger transaction is considered to be effective at the time of consummation of the merger or the date on which it is declared wholly unconditional.

Deals with undisclosed dollar values are rank eligible but with no corresponding Rank Value. Non-US dollar denominated transactions are converted to the US dollar equivalent at the time of announcement of terms.

Any Involvement league tables include deals where the target, acquiror, or either ultimate parent are domiciled (nation of headquarters) in the specified region or nation.

Announced league tables include all deals that were announced between January 1, 2017 and June 30, 2017 and of which Thomson Reuters was made aware. All current data and previous year's data is as of 6:00pm EST on July 7, 2017.

Financial and legal advisors receive full credit for each deal on which they provide financial or legal advisory services, unless they represent minority sellers or advise on only a portion of the transaction or Thomson Reuters has not been made aware of their participation in that transaction. For pending transactions, advisors to targets of multiple bids receive credit for the transaction agreed to or, in the absence of an agreement, the value of the highest offer.

While Thomson Reuters has used reasonable endeavors to ensure that the information provided in this document is accurate and up to date as at the time of issue, neither Thomson Reuters nor its third party content providers shall be liable for any errors, inaccuracies or delays in the information, nor for any actions taken in reliance thereon, nor does it endorse any views or opinions of any third party content provider. Thomson Reuters disclaims all warranties, express or implied, as to the accuracy or completeness of any of the content provided, or as to the fitness of the content for any purpose to the extent permitted by law. The content herein is not appropriate for the purposes of making a decision to carry out a transaction or trade and does not provide any form of advice (investment, tax, legal) amounting to investment advice, nor make any recommendations or solicitations regarding particular financial instruments, investments or products, including the buying or selling of securities. Thomson Reuters has not undertaken any liability or obligation relating to the purchase or sale of securities for or by any person in connection with this document.

Robert Levine

E-mail: [email protected]



Tel: +44 (0) 207 542 2246

Tel: +1 646 223 5682

If you would like to participate in the submissionprocess, receive quarterly press releases, or havequestions about league table criteria please contact:

© 2017 Thomson Reuters. All rights reserved.

Thomson Reuters and the Thomson Reuters logo are registered trademarks and trademarks of Thomson Reuters and its affiliated companies. Any third party name or mark herein belongs to the relevant third party.


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