Top Investor Tuesday — U.S. PE Investors in Europe's IT Sector
August 18, 2015
With KKR recently agreeing to back Switzerland-based SoftwareONE, we decided to take a closer look into U.S. PE investor activity in European IT companies. Over the past decade, deal flow in the space has been somewhat volatile, according to the PitchBook Platform, climbing over 135% from 2005 to 2008, declining significantly after the crisis and then remaining noticeably flat between 2011 and 2013. That being said, 2014 experienced quite the resurgence of U.S. interest in European IT, with completed deal flow climbing almost 56% YoY. Bolt-ons continue to remain the most prevalent deal type, accounting for about 49% of all 2014 deals, compared to around 32% just five years prior. While deal flow likely will not reach 2014 levels this year, bolt-ons have stayed strong, accounting for over 62% of Europe IT investments made by U.S. PE firms looking to grow their platforms in the region.
Top U.S. PE investors in European IT companies since the start of 2010 and their deal counts (incl. bolt-ons):