MM/4433 MFL Programme PS

Transcription

MM/4433 MFL Programme PS
Small and
Medium
Enterprises
Valuation Index
November 2016
The market for SME corporate finance deals was fairly
buoyant during the early part of the year. However since
the referendum and the vote for Brexit, the economic
uncertainty has definitely had an impact: pressures on deal
multiples have caused them to fall and some transactions
have aborted entirely. For deals completed since the
referendum the median P/E multiple has fallen to 5.9, the
median EBITDA multiple to 4.4, the mean P/E multiple to
6.7 and the mean EBITA multiple has fallen to 5.1.
About UK200Group
The UK200Group is an association of Chartered Accountancy
and Law firms offering strategic business services advising
key industries throughout the UK, in over 150 locations
and internationally through our International Associates
in some 70 countries. With experience of the owner
managed, small and medium sized business sector our
members work with clients to create the right solution
for the business.
About UK200Group
Corporate Finance Panel
The depreciation of the Pound since the referendum has
also had an obvious impact, making British assets more
attractive to foreign purchasers. We found a marked
increase in the number of foreign purchasers during the
past few months. This trend may well continue in the short
to medium term.
Statistically, at a 95% confidence level, EBITDA multiples
are occurring in the range 4.3 to 6.8, which shows a definite
decline from the 2015 range of 5.3 to 6.9. P/E multiples are
ranging, at a 95% level of confidence, between 6.0 and
10.2, which again is lower than in 2015 when the range was
7.8 to 11.5.
The Corporate Finance Panel of independent specialists from
UK200Group member firms, provide lead advisory and
transaction support services for corporate finance work in
the owner managed and SME business sector.
Nov-16
What is the UK200Group
SME Valuation Index?
Nov-14
It is the result of our Corporate Finance members providing
key data on actual transactions involving the purchase or
sale of real UK businesses (in the form of asset or share
deals) over the past few years. Most importantly, the deal
data provided by our Panel has been included in a format
which allows comparability in a manner not available from
publicly published data.
Nov-15
Median
P/E
Median
EBITDA
Mean
P/E
Mean
EBITDA
Avg Deal size
(£m)
8.0
5.4
9.6
6.1
4.2
6.8
6.5
4.8
4.5
8.1
7.3
5.6
5.1
5.7
4.4
Who wants this data?
The information contained in the Group’s SME Valuation
Index will be of benefit to corporate financiers, forensic
accountants, insolvency practitioners, investors, banks, tax
planners and clients.
Members of our Corporate Finance Panel have a reputation of helping members and clients using their experience and excellent
resources and can provide solutions to:
l
Sales, mergers & acquisitions
l
Due diligence & investigations
l
l
Management buy outs and buy ins
l
l
Corporate planning
Investigations
Panel members experience spans UK, European and global markets.
AIM & Ofex listings
Members of the Corporate Finance Panel
ALTRINCHAM
Akeel Latif
Myerson Solicitors LLP
0161 941 4000
[email protected]
www.myerson.co.uk
BEVERLEY
Mike Beckett
Forrester Boyd Robson
01482 889400
[email protected]
www.fbrobson.co.uk
BIRMINGHAM
Roy Farmer
Dains LLP
0121 200 7900
[email protected]
www.dains.com
CARDIFF
Lindsay Hogg
Watts Gregory LLP
029 2054 6600
[email protected]
www.watts-gregory.co.uk
CHELTENHAM
Will Abbott
Ollie Newbold
Randall & Payne LLP
01242 548600
[email protected]
[email protected]
www.randall-payne.co.uk
HULL
Jeremy Allison
Smailes Goldie
01482 326916
[email protected]
www.smailesgoldie.co.uk
LEWES
David Martin
Knill James
01273 480480
[email protected]
www.knilljames.co.uk
LONDON EC2
Simon Blake – Chairman
Price Bailey LLP
020 7065 2660
[email protected]
www.pricebailey.co.uk
LONDON N3
Daniel Shear– Index co-ordinator
BKL
020 8922 9321
[email protected]
www.bkl.co.uk
SHEFFIELD
Patrick Abel
Hart Shaw LLP
0114 251 8850
[email protected]
www.hartshaw.co.uk
LONDON NE
Michael Watts
Haslers
020 8418 3333
[email protected]
www.haslers.com
YORK
Tony Farmer
JWPCreers LLP
01904 717260
[email protected]
www.jwpcreers.co.uk
NEWTON ABBOT
Linda Lugger
Peplows Limited
01626 208802
[email protected]
www.peplows.co.uk
OXFORD
Katy Bruce
Critchleys LLP
01865 261100
[email protected]
www.critchleys.co.uk
3 Wesley Hall, Queens Road, Aldershot GU11 3NP Tel +44 (0)1252 350733
[email protected] www.uk200group.co.uk
Version 2 2016
UK200Group is an association of separate and independently owned and managed chartered accountants and law firms. UK200Group does not provide client services and it does
not accept responsibility or liability for the acts or omissions of its members. Likewise, the members of UK200Group are separate and independent legal entities, and as such each
has no responsibility or liability for the acts or omissions of other members.

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