Contents 20%
25%
When opportunity knocks: It pays to be agile and nimble
65% Strategic acquisition (in planning for at least 12–24 months) Opportunistic (based on market conditions and developing events) Reacting to market competitors (fear of falling behind/want to remain competitive) Other, please specify
Yes, and exceeded expectations Yes, and exactly met expectations Results were neutral No, did not meet expectations No, fell very short of expectations
6
Key findings Sector spotlight
52%
The mid-market opportunity
Above and beyond
10%
Despite the near-constant challenges and uncertainties of the pandemic, almost two-thirds of respondents (65%) say that deals completed since January 2020 have delivered the expected value – and 20% say the results have exceeded expectations (figure 5). The key message here is that not only are deals getting done, but they are being done successfully, creating value and delivering desired returns.
The landscape for M&A over the past two years has, to put it mildly, been unconventional and the uncertainties of COVID-19 have created both challenges and opportunities. That backdrop is reflected in the fact that more than half of dealmakers (52%) described their most recent deal as opportunistic, with a further 25% saying they were reacting to moves made by competitors (figure 6). Only 23% described their acquisition as a strategic deal planned at least 12 months in advance.
23%
Australian M&A 2022
5%
Figure 6: Which of the following best describes the rationale behind your most recent investment into Australia? (Select one)
Methodology
While deal values and volumes tell one side of the M&A story, the more important question is whether dealmakers are yielding value from their transactions. Overwhelmingly, the answer to this is: Yes.
Figure 5: For M&A completed since January 2020, did deals meet expectations of success measures (revenue, business expectations, etc)? (Select one)
About Pitcher Partners
Respondents say deals completed during the pandemic have met or surpassed expectations – and the majority of deals were opportunistic plays rather than strategic investments.
Executive summary
Above and beyond: Dealmakers achieve success against all odds
