2010 to 2013 saw an average of 94 such deals every year, with scarcely a single dip in activity. What did dip was the number of B2C deals; they shrank from 28 in 2010 to nine last year, surrendering to B2B's steady growth from 27 deals to 50 in the same timeframe. However, 2014 has seen nine B2C deals already thus far, so perhaps they're on the rebound.
Triton's two billion-dollar deals will be hefty enough to ascend into the rarefied levels of the largest 25 carveouts in Europe since 2010. 25% of the carveouts in Europe since then occurred in the $25 million to $100 million size range, with 31% in the $100 million to $500 million range. Carveouts in that latter range have actually increased since 2010. Additionally, in 2012 and 2013, 16 carveouts of $1 billion or more occurred, possibly implying two things: companies are able to command heftier price tags for their divisions, and they are comfortable selling sizable chunks of their operations. And, at least for now, PE firms seem to be amenable to paying the steeper prices.
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