For year-to-date 2016, total announced transactions of 52 deals are on pace with 2015 record levels. There were 55 transactions during 2015.
For year-to-date 2016, strategic buyers accounted for 96% of Automotive M&A transactions. During 2015, strategic buyers accounted for 93% of the transactions.
For announced transactions, Automotive multiples saw a modest decrease from 12.3x to 10.5x Enterprise Value to EBITDA in 2015 and 2016, respectively.
Many Automotive categories continue to outperform the S&P 500.
Select recent notable publicly announced M&A transactions:
– American Axle & Manufacturing Holdings Inc. entered into a definitive agreement to acquire Metaldyne Performance Group Inc. for approximately $1.5 billion.
– Polaris Industries Inc. entered into an agreement to acquire Transamerican Auto Parts Company, LLC for approximately $670 million.
– Octavius Corporation entered into a definitive agreement to acquire Grand Design RV from Summit Partners LLP and others for approximately $500 million.
– General Motors Company agreed to acquire Cruise Automation, Inc. from Signia Venture Partners, Spark Capital Partners, LLC, Felicis Ventures and others for approximately $600 million.
– Ningbo Joyson Electronic Corp. entered into a definitive agreement to acquire Key Safety Systems, Inc. from funds managed by FountainVest Partners, Canada Pension Plan Investment Board and Crestview Partners, L.P. for approximately $920 million.Download Report