by greenmellen
June 2023 – This First Quarter 2023 issue of SOLIConnect includes a discussion with regard to an 8% decrease in the number of M&A transactions, the growing need for quality inventory management to maximize liquidity and avoid excess inventory, as well as retail being the sector with the most year to date corporate bankruptcy filings.
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by greenmellen
May 2023 – This First Quarter of 2023 issue of SOLIConnect reflects on credit spreads that have been on the rise since August of 2022 due to a number of factors including geopolitical turmoil and aggressive Fed actions in stemming inflation concerns, which is likely to result in slowing economic growth and a rising risk of recession.
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by greenmellen
May 2023 – This issue of SOLIConnect reports that healthcare M&A transaction volume declined in Q1 2023 with approximately 600 deals, down 6% from Q4 2022 and down 20% from Q1 2022, as growing labor costs, inflation and high-interest rates have stifled deal activity. M&A activity was led by the physician medical groups sector (PMG) with 135 transactions, a decline of 13% compared with Q4 2022, but in line with the same period a year prior. And while the number of hospital M&A transactions in Q1 2023 still lags pre-COVID-19 pandemic levels, transaction value increased to $12.4 billion due to several large announced multi-regional system mergers, almost surpassing the recent peak of $12.7 billion in 2018.
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by greenmellen
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April 2023 – This issue of SOLIConnect includes a discussion about steady M&A activity in the sector to address deteriorating cost structures, while also prioritizing manufacturing and capital efficiency amidst current economic uncertainty.
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by greenmellen
April 2023 – This issue of SOLIConnect includes a discussion with regard to the 4% increase of the Business Services Sector Index during Q1 2023, below the increases experienced by both the S&P 500 and the NASDAQ, as concerns about a potential recession and slowing employment demand impacted several subsectors. Despite rising interest rates, both strategic and financial acquirers continue to actively pursue acquisition opportunities. Notable transactions during the quarter include Concentrix’ acquisition of ServiceSource, United Real Estate Group’s acquisition of Platinum Realty, Paychex’ acquisition of NannyChex, and numerous others described in our report.
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by greenmellen
by greenmellen
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February 2023 – This Fourth Quarter of 2022 issue of SOLIConnect reflects on indicative signs of credit market distress including the distressed cohort of performing index loans, defined as loans trading below 80% of par, is now nearly 8x higher than at the beginning of the year; the distress ratio, which began the year at 1.45% (measured by dollar value), ended at 7.36%; and, downgrades outpaced upgrades by a ratio of 2.8x, the fastest rate since September 2020.
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by greenmellen
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February 2023 – This issue of SOLIConnect includes a discussion about continued economic uncertainty, leading strategic acquirers to seek onshoring opportunities and operational synergies through M&A, and private equity buyers to pursue value opportunities.
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by greenmellen
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February 2023 – This Fourth Quarter 2022 issue of SOLIConnect includes a discussion with regard to increasing acquisitions of regional and local retailers, PE backed companies taking advantage of stronger liquidity, as well as the impact of rising inventory levels.
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by greenmellen
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February 2023 – With 2022 healthcare M&A transaction volume reaching a historic high of 2,392 deals for the full year, this issue of SOLIConnect reports that Q4 2022 M&A activity was led by physician medical groups (PMG) with approximately 150 transactions, accounting for 24% of all deals in the quarter and up 9% from the prior year marking a historic year for the sector with 607 total deals, an approximate 33% increase from 2021.
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by greenmellen
January 2023 – This issue of SOLIConnect includes a discussion with regard to the 10% increase in the overall Business Services Sector Index, outperforming the 7% increase experienced by the S&P 500. While overall M&A volumes in Q4 2022 were down relative to prior quarters, M&A activity in the Business Services sector remained resilient during Q4 2022 with numerous platform investments by private equity firms and several high-profile strategic acquisitions. Notable transactions during the quarter include H.I.G. Capital’s acquisition of Barton Associates, Cognizant’s acquisition of Austin CSI, Cross Country Healthcare’s acquisition of Hireup Leadership Inc. and numerous others described in our report.
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by greenmellen
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November 2022 – This Third Quarter of 2022 issue of SOLIConnect includes key highlights: Increasing economic uncertainty and concern about the impact of rising interest rates on non–investment grade borrowers are resulting in increased volatility in the leveraged loan market.
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by greenmellen
by greenmellen
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November 2022 – This issue of SOLIConnect includes a discussion about strategic acquirers seeking to expand their business through value opportunities stemming from capital market dislocation, economic uncertainty, and inflationary pressures.
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by greenmellen
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November 2022 – This Third Quarter 2022 issue of SOLIConnect includes a discussion about sellers seeking liquidity amidst an uncertain economic outlook, while strategic and financial acquirers aim to take advantage of opportunities at more appealing valuations, with the average retail EV / EBITDA multiple at the end of Q3 2022 at 12.1x, up from 10.2x in Q2 2022.
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by greenmellen
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October 2022 – Despite a volatile stock market, continued labor challenges, inflation, and higher borrowing costs, this issue of SOLIConnect reports that healthcare M&A transaction volume reached 734 deals in Q3 2022, on par with the prior quarter, and on track to break annual records.
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by greenmellen
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October 2022 – This issue of SOLIConnect includes a discussion that despite an overall decline in public market valuations, M&A activity in the Business Services sector remained resilient during Q3 2022 with numerous platform investments by private equity firms and several high-profile strategic acquisitions. Notable transactions during the quarter include ASGN Incorporated’s acquisition of Iron Vine Security, One Equity Partners’ acquisition of Prime Time Healthcare, Ernst & Young’s acquisition of Cambria Solutions and numerous others described in our report.
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by greenmellen
by greenmellen
by greenmellen
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August 2022 – This Second Quarter 2022 issue of SOLIConnect includes a discussion about the burden of ongoing supply chain issues and inflationary pressures on the overall retail sector.
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by greenmellen
August 2022 – This Second Quarter of 2022 issue of SOLIConnect reflects on how tightening financial conditions amid inflationary pressure, concerns of an impending recession, and continued cost pressures are impacting the credit markets.
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by greenmellen
by greenmellen
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August 2022 – This issue of SOLIConnect includes a discussion with regard to the composition of M&A activity during Q2 2022, which was characterized by a mix of strategic consolidation as well as a number of high profile platform transactions by leading private equity firms.
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by greenmellen