Industry Reports

Published on: 01/02/2020
COVID-19 created unprecedented disruption in the Building Products industry in early 2020 as lockdown measures and supply chain challenges severely impacted industry demand and downstream markets.  However, as lockdown measures ease and building products participants move towards a more normalized workload, industry demand and unemployment rates have displayed signs of a rebound.   
Published on: 07/24/2020
As the pandemic swept across the globe, BPO & contact center service providers quickly mobilized to enable work-from-home solutions to its highly dispersed workforce and client base.
Published on: 07/15/2020
The pandemic has uncovered lapses in IT capabilities, presenting a heightened necessity for digital transformation and remote workplace support services across all sectors.  As companies reemerge and are introduced to the new normal, IT services and support solutions are needed to foster robust remote capabilities, albeit with different bandwidth and geographic reach.
Published on: 07/15/2020
In this report, we highlight business sectors such as the Hospitality Merchant industry, which has seen steady sales growth surpass the pre-COVID levels reported during the week of March 2nd, presenting ample tailwinds for the FinTech industry. Additionally, global retail e-commerce sales increased 81% year-over-year in May, and global ePayment technology solutions have seen a dramatic increase in growth driven by the pandemic. In total, there were 137 mergers and acquisitions (M&A) announced in the space with Payments remaining the largest segment. Moving forward, we see significant opportunities for the Payments industry to continue evolving as it adds new revenue streams focused on the customer’s experience, risk management tools, cross-border capabilities, B2B efficiencies and industry-specific offerings, and e-commerce and mobile capabilities.
Published on: 07/15/2020
Merger and acquisition (M&A) activity has slowed substantially in year-to-date (YTD) 2020 with seven transactions announced or completed compared to 25 transactions in YTD 2019.  However, as Q2 closes, the substantial amount of private equity dry powder presents a favorable backdrop for deal activity to rebound in the Healthcare Staffing industry.
Published on: 07/14/2020
After a three month decline that brought U.S. manufacturing activity to its lowest level since the Global Financial Crisis, the industry showed signs of slight recovery in May and June.  Our Industrials & Manufacturing (I&M) Team has spoken to leading industry players and private equity firms across the industry to discuss how COVID-19 has impacted their business model and merger and acquisition (M&A) appetite.  While activity has slowed, and many companies have opted to delay a sale, select M&A transactions are still underway.
Published on: 07/14/2020
Recent volatility has unveiled the weaknesses of highly correlative and cyclical businesses while simultaneously illuminating recession resistant and opportunistic profiles.  As COVID-19 prompted consumers to shift buying habits towards online channels, investors have sought risk adjusted returns outside of severely battered equities.
Published on: 06/26/2020
The Aggregates industry has combated unprecedented challenges brought by the pandemic which has manifested in substantial declines in construction spending, which fell nearly 3% in April month-over-month, according to the U.S. Census Bureau.  However, as shelter in place orders are lifted and state and local economies begin to reopen, optimism in the Aggregates industry has been supported by a resumption of construction projects and contractor hiring activity towards the close of Q2.
Published on: 06/26/2020
Companies have responded to COVID-19 through liquidity preservation and cost reduction initiatives, including hiring freezes, layoffs, and reduced discretionary spending. As states begin to reopen, businesses are operating lean and demand for flexible labor is expected to rise as companies focus on labor cost efficiency and cost control.
Published on: 06/19/2020
Last twelve month (LTM) merger and acquisition (M&A) activity in the HCM SaaS industry continued its upward trend with 150 deals. Deal volume in Q1 2020 reached a quarterly record of 48 deals as COVID-19 didn’t slow deal activity. M&A targets were valued at a healthy median revenue multiple of 5.4x LTM, slightly below the 5.7x and 5.8x peaks we saw in 2016 and 2019, respectively.

Pages