Our 2022 M&A transactions continued the 2021 trend of a heavy emphasis on sales to private equitybackedstrategic buyers vs. direct sales to private equity, by a factor of 3:1, continuing to evidence that platform transactions from prior years were executing their growth-by-acquisition strategy. A significant number of M&A transactions evidenced downward pressure on enterprise value, clearly showing the impact of the increased cost of debt for leveraged transactions. Equity/quasi-equity capital raising transactions were heavily weighted in favor non-priced rounds vis-a-vis convertible instruments (SAFEs and convertible notes), but Series A+ transactions generally held their valuations and were successful in raising their target.
Click here for OlenderFeldman's 2022 Overview: OF Transactions Overview 2022
We hope this information on companies we represented as transaction counsel in 2022 is helpful insight into the types of companies and industries that are attractive to buyers and investors in the current business environment.
