REUTERS / Laszlo Balogh MID-MARKET M&A...

MID-MARKET M&A REVIEW FINANCIAL ADVISORS First Half 2016

REUTERS / Laszlo Balogh

krizvi

Clairfield

* Source: Thomson Reuters/Freeman Consulting

52.459.543.717.984.371.162.858.3

100.099.1

14.410.1

Jan 1 - Jun 30Worldwide Mid-Market M&A up to US$500m by Target Nation Region

UniCredit

▲

34 25

31*

429,495.0

89*

1,261.030 ▲-

-46.5

N+1

Industry Total 21,105

31*

40*

Plutus Consulting Co Ltd

▼

-

-

Deutsche Bank

Daiwa Securities Group IncKBS Corporate Sales Ltd

CFI 38*33

31*-17

▲31.089.9

8.119

35*

1,040.6 - -25.6 ▼1,382.3 53 -

26* -2

▲

Sumitomo Mitsui Finl Grp Inc

Jefferies LLC8.5

45

-IMAP

71.6

-45

Baker Tilly International

4,812.0

-

-1926*

Raymond James Financial Inc25

44

4,361.3 18

61

12

43

52

15

3,183.328

▲

-

Stifel/KBW

0

-

▲

▼

Huatai Securities Co Ltd

30

34

33

28 -18 ▼

-

13

5

▲

57-

8,814.6

▲▲

18

55-10.3

Goldman Sachs & Co

▼ 5,468.6

94.312

20

BDO

40*952.3

243.0▼50

▲ 3021

16 ▲ 7,301.1 78.7▲

▲

0

7,939.4 4

▲12.3▼Ernst & Young LLP

87 ▲

5,597.0

16* 33

7*

Deloitte

▲ 5,660.6

14.9

1,965.6- 2,321.7

79 -101

35* 116.0

-12-39

38*

21 16 54

▼

441722

4.2-7

▼-

95.8

▲

77.5

0.8▲

69 62

▼

9

-11

-58 ▼▼

-

Credit Suisse

18*

Nomura 14*

23 ▼-35.2 44*

26* ▲29*

133.2 -▼

24

BNP Paribas SA

10 46.35

1083.9 15

26*Gram Capital

Clairfield International 29*

47

-31.4

31.8

RBC Capital Markets

Macquarie Group 29*▲

35.2

7Citi 24

▼

18* 2,266.5M&A International

29*

58 ▼17

14*

▼

36.8

Houlihan Lokey

▼ 1,484.4

-40.2

97.960

▲

80

-18

-38

63

▼▼

▼

91.211

3,894.320.5

12.757.516.7

18

▼

76.746.3

▼

44.71376.0

44.9

▲-65.9

255*60

60.7

-72.136

-39.0 4648*

27.8

Visit http://dmi.thomsonreuters.com to View Archives and Order Custom League Tables

33

7173

45.8

17.6

142*

27

44.116

Worldwide Estimated Mid-Market Investment Banking Fees by Quarter*

48.0

26.9

5668

https://www.thomsonone.com

17.0

▲-

▼

21.4

14.2

-

570.4

▼

40.3

10.5 82*

100.0

4,840.2

25 3

-9

892.4

24

43.8

19

100.051.2 20 77.112.0 75 20.721.8 43 80.7

125.7

Source: Thomson Reuters/Freeman Consulting

10.2 - -94.1 ▼837.1 - 43.0

24 61.623.9 39 86.3

▼

4337

40* 46* 1.7

43*

25

-14.5233.9

501.8

28

40*

▲

28

1,418.5 - 10.3 ▲2,764.7 25 118.4 ▲2,969.6 23 66.3 ▲

27

-11 ▼27

100.012.9 72 100.016.9 59 74.8

8 -

-

-6.2

61*

-9 ▼26 -11

43

69* 100.0

Piper Jaffray Cos 38*

▲

*tie

74.8

100.0

6,164.0

100.0▲

▲30

▼

5836

4.4

35* 37RSM Corporate Fin LLP

100.0

4,118.255*

6

First Half 2016 │ Mid-Market M&A Up To US$500m │ Financial Advisors

Worldwide Mid-Market Rankings (MM1)

94.6

11 ▲ 6,765.1 8 19.3

6,121.9

397.4

4,380.5 1713

100.0100.0

49.1100.0

100.022.5

14

62.551.2

-100.0

17

2645

-2.2

▲

1,718.3

▲

11.4

1,095.9

2,414.4

1 ▲

60 ▼

88.2

23 48.9

53.432.232.6

-

42

35

-

▼548*

-22

16.1

100.0

12▼

76* 28

-15

21.5

45▼17*

6,967.9▲

-2.359.1

398*

9

3 ▲

7

▼

235.0 -▼-131*

2042*

19.9

41.9

-10.4-59.0

▼

125.7▲-2

1420

▼

22 0.0▲-741

36

1

▼

53▼-61.1

100.0

10.7 -

100.0

MM1 - Undisclosed Values & Values up to US$500m

# of Deals per Advisor

Rank

100 -7

1Financial Advisor

KPMGDeals

63

172 2.5Rank

16 ▲

PricewaterhouseCoopers 3 1

JP Morgan192.1

85.55 12

-66.62,584.9

1124 ▲

145

2015

222.2-132

-13 ▼97

Morgan Stanley 10

57▲

▲

14

28.826.528.2

48.37 4

Advisor 2016

Imputed Fees (US$m) †

32Fees Rank

Rank Value per Advisor (US$m)

Rank Value Rank Value2016Change in

5,569.4 12▼

▼7,896.5

-61.8

▲1

▼-25.2

48

# of

▼

Jan 1 - Jun 30

Exp (%)

** Fee

4,723.2Change (%)

1,594.9

▲

Lincoln International 22

23

10,784.4

858 13

-62▲

▼▼

6

-19.7

5 15Lazard 4 7*

27

12,530.4

48.8

▼

Evercore PartnersBarclays

-61

3

▼

26 ▲25 17 ▲

UBS▼

Mizuho Financial Group

Moelis & Co 16* 42* 58 23

2016

US$m

122.0

111.1

24.41

38

19.946

3 -39.3-49.6

-36

2Rothschild 2123

11

† Imputed Fees shown are based on completed deal activity, whereas deal count & rank values are compiled based on announced deal activity.** Fee exposure indicates each firm's mid-market fees from deals valued at up to US$500m as a percentage of its overall M&A fees in the relevant region.

26*35*53*4138*61*

146*57*42*

-486

124.6171.2

6

22

66.0

37

138.5

43*43*46*46*48*48*50*50*50*50*

Generational EquityBCMS Corporate LtdNatixisGlobalscopeDC AdvisoryRobert W Baird & Co IncChina International Capital CoCredit Agricole CIBWilliam Blair & CoCanaccord Genuity

-10 ▼25 -4 ▼

47

13.5

2

133.5

17*

98*

21

-77.7 ▼32.5 - -2.4 ▼

350.2 - -47.9 ▼

▲

15.5 63*

Bank of America Merrill Lynch 34 8114.7▼

3

3,825.9

13.3

23.7

33.7# of Deals

2Rank

9

10 6569

12

48*27.4

36

$0 $50 $100 $150 $200 $250 $300 $350 $400 $450 $500

2010

2011

2012

2013

2014

2015

2016

Rank Value (US$b)

Africa/Middle East Americas Asia-Pacific Europe Japan

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

$0

$1

$2

$3

$4

$5

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

2010 2011 2012 2013 2014 2015 2016

Per

cent

age

of T

otal

Fee

s

Inve

stm

ent B

anki

ng F

ees

(US

$b)

Mid-Market I.B. Fees ($500mil or less) % of Total Fees

2

http://banker.thomsonib.com/

krizvi

Highlight

2,007.6- ▲

1

4.5

▲

▲

1326

9


4 ▲

Alvarez & MarsalBMO Capital Markets 38*

*tie

73* 8 4 ▲88* 7 4

Stephens Inc 28

435.4

▲

-52.7

-

6*

8.7

25* -1

-75.5

21

22376.0

975.2The Braff Group 32 42* 211

▲Prairie Capital Advisors Inc

2515 -37.6

-1 23

3.0

19*KPMG

▲

7 ▲

▼

14

▼

14

-12

▼

40* -19

24

1,633.6

Cascadia Capital

RBC Capital Markets

Generational Equity

-29

28

William Blair & Co 21*

24*

29.8

-16.2

31

2.2 99*

26.6

8*Evercore Partners

14

▲

Stifel/KBW 5* 2

Lazard

▼

3,347.6

-2

2115

68.7

17

-116

▲

14▼

643.221*21*

-85.5

-46.3

▲

Citi47* 15

28.5

-18 ▼

12 21*

3,769.8

2

10.7-9

1

2,087.936

2


5*

Houlihan Lokey 67 ▲4,349.6

20162015

-10 ▼

Moelis & Co

25*

84.8

16


▼

▲

49* 29

▼

42

▲4

3418 10 42.4▲

8

5,090.844

1,004.4

▲

-11

2,849.5

-4

4,230.4▼

-40.3

-17.054.6

1105.4

Jefferies LLC

Deutsche Bank 18

6*

100.0

818 74.0

59.7

Rank

2

Barclays

7

29248.9▼

▼

54.4

-

58.8

▼▲

43.2

▼

65.0

13

340.8

100.0

100.059

162.1 - 58.8

2,596.2

6.9 43 100.06.0 45* 100.0



24

5.120.1

-75.8

KeyBanc Capital Markets Inc

▼▲

17

51*26*

▲

▲▼-5 ▼

▲

20

6

3

2,430.6

667.1Wells Fargo & Co

18.3 ▲ 4.3 60*

33

10

-83.3150.0-

170.4▼

Duff & Phelps 33* 11* ▼

Rothschild

Chartwell Financial Advisory

55.147.532.8

▼

3

5.0


US Target Mid-Market Rankings (MM2)

17.5

2,120.1

1,718.3

93.0

3,461.2

▼

2136Raymond James Financial Inc

15.0

48*

100.0

25.0

4

50.1

31.8

9.8

14

63.7

64.6

59.0 94.7

25

32.322

16

42.4

28

48.848.6

32.9

15

3

Jan 1 - Jun 30

Rank

15

Rank

2016

1

Rank Value

Fees


▲

Financial Advisor

Lincoln International

75.7

Deals

61.7

2,310.62

-9 ▼

5 -853.5-14

12

Rank Value

9*

-

# of

109.4

-

▼

Rank

1

3,349.2

PNC Financial Services Group

11*

Credit Suisse

9.1

20

▼

UBS

5

57

8.3

18

6

35.7

US Mid-Market M&A up to US$500m by Rank Value Range

39.6

100.0

28.5

▼

▼

7 ▲

▲

-13

77.7

2,437.5

▲

3

▼

▼

7,430.3

Change (%)

62.9

Change in

# of Deals

12

Exp. (%)

Advisor 2016 ** Fee

US$m

▲

▲0.0

1,573.09

AGC Partners

3

496.2

13.4

35*

-

38.4

717

15

202.4

14

27

124.0

43.0

-8Morgan Stanley

28.2 19

28*

▲

43*

4,588

23

▲174* 8

38* 37*

10

▲428.0

100.011.0 -

-4.1100,113.3

51*5.0

58.3

16

38*

8

-

1,535.212

43*46*

38*

33*

Macquarie Group

33*

DA Davidson & Co Inc 33*

24*

Industry Total

2950

83.3

100.0

100.0

39

US Mid-Market M&A up to US$500m by Target Industry

▲

37*

10

-

124*

100.0-20

8

47*

-

Global M&ASignal Hill Capital Group LLC

Robert W Baird & Co Inc

28.0

45.1

4

-310

▲9

33*

Sandler O'Neill Partners

PricewaterhouseCoopers

80.0

0.8

17 28*

3,223.1 9

4.6

▼13

29*

-1 ▼

21

10

12

3

16

▲

▼▲

20.0 - -85.2 ▼ 4.0 66*

37.3

79.276.0

12.7

-▲

▼ ▼106.3

-

1,685.7- -

49.4▼ 22.9

42.522

13

-

1,815.0

▲

18

38.148.2

▲0.0 - - -

100.0

76

100.0

71.7

298* 31

▲

10

11 -14.3

79

11*

92.8

18.5

37.4

26.5 42.926

66*4.0

1130

-

18

879.0 -

▼

2,451.2

385.8

5

57* 4

16

10

-6.0

10 0.0

▲

583.9

10

28*

96.2

5

▼

PJT Partners LP

-46.019

▼

34.5▲

Jan 1 - Jun 30 26*

38*

353.1

100.0

22.0


159*

24

-63.2

-28.8

810.9

57*

33*

43* 73* 8

73*

--

58

▼9

179.1

20

▲

▲ 141.4

29* 47*

20 -55.4-5

18.468.0

▼

7.4100.0

100.0

87.5

JP Morgan

-

163.2

42* 8

16

19*

21*

29*

Canaccord GenuityCain Brothers Co.

12

Bank of America Merrill Lynch

Piper Jaffray Cos 9* 4

Goldman Sachs & Co

Stout Risius Ross Inc

▲

-

-

-1

-25.2

16 15 ▲37

6

-

-


▼

-1

100.0

▼

10

Mizuho Financial Group 46* 88* 7 4 ▲Greene Holcomb & Fisher LLC 46* 28* 7 -7 ▼Centerview Partners LLC 46* 66* 7 2 ▲

-531 ▼

204.3 65 -65.0 ▼0.0 - - -

1,233.8 24 55.2 ▲

3.2 80 100.03.5 75* 100.028.9 23 13.8

-

500

1,000

1,500

2,000

2,500

3,000

$0

$10

$20

$30

$40

$50

$60

$70

# of

Dea

ls

Ran

k Va

lue

(US$

b)

US$0 - 50m US$50 - 100m US$100 - 200m US$200 - 500m

16.7%

14.7%

13.1%

12.3%

8.6%

8.2%

7.8%

6.7%

4.2%

3.3% 2.3% 2.1%

Real Estate

Energy and Power

Financials

High Technology

Healthcare

Consumer Products and Services

Industrials

Media and Entertainment

Materials

Consumer Staples

Retail

Telecommunications

3


krizvi

Highlight

0.0 32* - -33* 2

Industry Total 521 -113

1 ▲6* 2 -4 ▼

▼

MAGMA Brasil Consultoria Ltda 16*Arab Banking Corporation 24* 17*

12*

14

17*

9.813.3

16*

32*

▲

91.6

92.664.6

- 22-3

32* -

--

41

Rank

556.9

5

2 -1 ▼3 3

Latin America Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30

0.0 32* -

18.2

12*

33*▼

1.6 -3

-

37

3

0

15-

3

-

*tie

24*PricewaterhouseCoopers

Latin America Involvement Mid-Market Rankings (MM17)

24*

8.5100.0

16*

-

4▲

Rank


IMAP

Rank Value2016

▼ 2

Exp. (%)

** Fee

-

69.0100.0

Change (%)

- -

Advisor

12.3

5.5.5

-

4

33.3

2.9

2016

Jan 1 - Jun 30

▼

5.38

638.6

21

4

-

40.1

100.0100.0

9

35*

100.0

55.9

20.0

100.0

16

-

24UBS

60.6

10*

-9

33.9-

Deals

15

-

-

Rothschild

1*

-1 ▼4

-1Morgan Stanley 0

252.2

7.92.0

52.014*

2

43

Lazard 5*

▼

5

2016


13

▼

# of Deals

-3


-70.9

Rank Value# of

32.4

388.3

12* 0.0

10*

16*

212.9

100.0

1.3

▼

27.1

-32*

13

▼

21

8.2

5.0

-13.7

-

1.6

3

▼▼ 5.6

3.1

-

5

▼

-

▲

KPMG

100.0

-44.0

-

7

-22.0▲

35.0

16*

4

53.26.6

▼

4*


53.3

18 -0.2 18 3.7

32*

100.0


50.0

1.0 18 100.0▲

▼

0

71,306.9

▼


Fees

17.1

Latin America Mid-Market M&A up to US$500m by Rank Value Range

4* 6.6

▲

-

7

1

▲ 312.3

▲ 3.7▲

0

0

▲

** Fee exposure indicates each firm's mid-market fees from deals valued at up to US$500m as a percentage of its overall M&A fees in the relevant region.† Imputed Fees shown are based on completed deal activity, whereas deal count & rank values are compiled based on announced deal activity.

10,979.7 -9.2

17*

16

32*

2015

▼

Change in

3

27*

Financial Advisor

Banco BTG Pactual SA

17*

Itau Unibanco 13

11

18

-14.4

5*

10*

5 ▲

10*

6

5-3

BNP Paribas SA

6

-89.3

▼ 3

12

5*BBVA

10*

5* 2 64.6

-13.6

6*

111.4

-25*

0

2-

77.8

Banco Bradesco SA

Clairfield International

Credit Suisse

Greenhill & Co, LLC

5

3 -54.9165.9

12*

17* 3

Deutsche Bank

4

Rank Rank

27*

6*

1

6*

0

-

9.1

-1

Santander

Moelis & Co

M&A International

1428.7

53.5▼

141.9

-

156.1

16*0.0

-Artica Participacoes e Assesso

-0.010* 810.3

BR Partners0.0

16*

-1 ▲

▲

Bank of America Merrill Lynch -3 0.02 -

▲

JP Morgan

1.3

4

1*1,161.8

US$m

-

8

444.41974.9

▲

2

32*

15.8

▲-1

1

6*

5* 0.0

-

0.0


1

5

Citi


9

16*

3

0.1 18 100.00.9 18 100.0

Evercore Partners 24* 12* 2 -2 ▼CFI 24* 17* 2 -1 ▼APOYO Consultoria SAC 24* - 2 2 ▲

255.0 9* 14.6 ▲7.8 31 -97.6 ▼24.8 - - -

1.5 18 100.0

-

50

100

150

200

250

300

350

400

450

500

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

# of

Dea

ls

Ran

k Va

lue

(US

$b)

US$200 - 500m US$100 - 200m US$50 - 100m US$0 - 50m # of Deals

28.0%

20.6%

12.3%

7.2%

6.7%

6.2%

6.1%

4.5%

3.2% 2.1%

2.0%

Energy and Power

Materials

Financials

Consumer Staples

Industrials

Real Estate



Telecommunications

Retail

Healthcare

High Technology

4


krizvi

Highlight

William Blair & Co 51* 62* 13 3 ▲

*tie

▼

19

▲

19.8

11

-58.6-

▲554.2

4.6

22

-44.3


HSBC Holdings PLC 51* 56* 13 1 ▲ 1,543.4 1,375.7 17 29.2 ▲ 20.5 19 58.1

19

▼

19*

41* 23

-7

29*Credit Agricole CIB

39

25*

▲

Industry Total

Citi

Kon SpA

19*

Clearwater International

Houlihan Lokey

45* 14 -1

0

35*

Morgan Stanley

▼

▲

▲

75

6

31*

3

▲

▲35

2,405.9

25

70*41*

54

▼

14

-89.8

41*

Rank Exp. (%)

▲

5

3

European Mid-Market M&A up to US$500m by Rank Value Range

-132

3,855.6 3,469.62,817.9

3


1,373.7

51*

▲

Jan 1 - Jun 30

35

100.080.4

100.0

▼

1

33

▼

75.410.0

17 -5 ▼

-

European Mid-Market M&A up to US$500m by Target Industry

22.4

120.2

100.0

- - 22.5 16 100.0- - 14.7 41 100.0

100.0

Jan 1 - Jun 30

876.223

42

3,908.6

0.0

7.6

11.5 10.4

10

7

28.4

44.3

56.4

16.9-47.9

▼5.7

37IMAP 9

Ernst & Young LLP 6 -8057

18

Change (%)

▲1,414.2

** Fee

15.7

-24.015.5

▲ 29.1

34*

7

397.4 356.128

19.2

5

50.6

▲ 2010 23*

40.9

-98.6

▼2,808.2

Advisor

1

Evercore Partners

41*

337.0 101*

739.6 655.0 - 161.9 ▲

20.2

-6 ▼

1,289.447*

▲

La Compagnie Financiere

106,328.7▼

16-9 -88.7

Deutsche BankBenchmark InternationalCarnegie

-CBRE Holding SAS 55 81* 12 5

12.7 4817.0

-

Rank Value per Advisor

Rank Value

▲

41* -

▲ 1,084.4 986.4 -

881.7 29▲

Financiere Cambon

Altium Capital Limited

13 1

63


Rabobank NV

60.2

Panmure Gordon & Co Ltd

13Jones Lang LaSalle Inc

Livingstone Partners100.0

47* 51* 14 1 ▲45*

7.8

1,383.6

29.6

77.2100.0

72*▼

-26.4 ▼951.8 836.8

17

Global M&A 60*26.051*

41* 16

8.1

1,237.3

▼

21

36.2

-

20*

35* 49*45*

18.26.6 72*

-85.0 ▼

1,418.3

▲

414.8 373.5

278*

822.9 --85.8

17.9

100.0

28

48.4

299.1

-

- 494.114 -2 ▼

118,814.2

-

16.6 36* 51.217.9 29 67.8

▲32* 13

--3-10 4

993.4

▲

▲

-

615.5

1,870.4

28.7

12

34.7

5141.4

100.015.5 38* 31.415.5 38* 97.5

▲

8

138.3

▼

3.4

4.4

37.427

17

4.1 94

▲

37*57▼

31*921

20

0.0

1,416.8

6.6

53.5

▲-

▼

▼

-11

2045*

▼

45*45*47*

331.3 296.8 80 -88.6 ▼16.6 14.8 - -

-

16

31*

37*

91

▲

▼

-62.2

21 13.8

25

17

9

12.2

8.4

0.0

18.1

▲2140

4.1

34*

22

12.2

21

23*

25*

23*

▲

59

18.5

740.461.5

▲

15

9.0

100.0

16*

-

5

3

3

13*

743.7

5.2492.2

6

52.1

3513.3

UniCredit

N+1

▼

94.6

49*

-12.7233.9

1,285.7

-

20*29

36

10

Jefferies LLC

547.62,969.6

▼

19

▼

13.7

-1111*

1▲ 75.5

▼

▼12.9

-

19*

18

31*

69.429.4

31

44

26

13

32

2,680.6

-7

30

▲

▼

2015


96.6

19

-22

14.4

50

1

1,154.6

15

M&A International-

-62.3 ▼

87.4

278*

100.0

11*

219.5

-

155.3

22

▼

8

-1

-

56*74.8

-

151

JP Morgan

16

Deals


100.0

▲

2

19*42

22

170.7

-12.5

34

117.3

12

16.6

1,035.9

Rothschild

103.5

14.2

63 33

▲

41.4

19

▲

2,519.2-85.3

8▲

2836.4

--

7

▲

100.0

5100.0

1,261.0

15.2-

-45.5

Lazard

27

42.917.68.1

16

6Deloitte

Credit Suisse 16* 34*▼

-

100.0KBS Corporate Sales Ltd

9 -2

17.2

▼-10

3

16


5

-9

21.3UBS

100.047

47*

8,409 ▼

-1 ▼41*

▼

122.2

100.0

20.6

50

30.8100.0

-39.1


112.4

2,669.9

Banca IMI (Intesa Sanpaolo)

▲93 34

BDO

RSM Corporate Fin LLP

6▼

▼837.113*

100.010.7 53 100.0

1,150.6 22 -1.9 ▼1,982.9 1,755.1 12 27.9 ▲151.2 136.7 116

14

6

BNP Paribas SA

CFI

NumisMacquarie Group

▼

17.443.0

100.0

-

▼

-15.3

11*36

8

24*Barclays

▼

7

-

15.5

26

▼

38*

Globalscope

2413*

25*

28

5,380.4

3,495.1

▼

▲

▲16.7

▼



26* 30

27

63.6

76.0

133.2100.0

785.8

▲43.110

-23

146.8

230.13,129.6

2,717.4

51*51*

-4.9

25.5

11

-2,970.2

Rank Value

11*

Euro mil

3,422.9

246.5

3,073.77,707.5 6,879.81,580.1

4,844.9

207.1

50.2

1,289.9

1,476.8 1,315.2 ▲1,571.2

62* 15 5 ▲▼

20*

1520*

27

18

15 10

▲

9

-32

-

1,666.0

29* 29*

▲

55.9-54.9

18 43.251*

Rank

KPMG

-83 ▼122

11.0

▲

0.0125.7

▲

▼

20162016

Financial Advisor

2016

NomuraING

56*



# of Change in

Rank

67-66.5

-32

Natixis

33

European Involvement Mid-Market Rankings (MM3)

# of Deals


Fees

1 135 17.5


US$m

5

2

DC Advisory

▼

Rank

Goldman Sachs & Co

16*

4

4

52

302,576.2

13*

97.351*44.6

1,132.0

▼

26

▼

4

311.0

-65.8

48.6

31.5

7

43

-23.6

2,298.6

▲

920.9

167.2

BCMS Corporate Ltd

-77.0

100.0

-

100.0

-350.22,171.0

112.6

320.731.9

-36*-

-24

55.1

1,522.0

-

11.0-

100.0

62* 12 ▲29*

6

25

-1216

26* 15 -8

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

# of

Dea

ls

Ran

k Va

lue

(US

$b)


16.1%

13.9%

10.8%

9.9% 9.2%

9.1%

6.6%

5.6%

5.5%

5.4%

4.6% 3.3%

Real Estate

Financials

Industrials

High Technology

Energy and Power


Healthcare

Materials

Retail


Consumer Staples

Telecommunications

5


krizvi

Highlight

** Fee exposure indicates each firm's mid-market fees from deals valued at up to US$500m as a percentage of its overall M&A fees in the relevant region.

65*

609.3

24

1

Credit Suisse

N+1

Rank

27

36

finnCap Ltd

Citi

1*

1,936

UBS

KPMG

UniCredit

DC Advisory


M&A International

Lazard

BCMS Corporate Ltd

9▲

-3▲

Clearwater International

▼563.5

-

▼

14

-58.6

Barclays

Rothschild

▲

▲

▼

36.2

▼

▲5 125.3

17.3

▼

-

▲338.0

18.1

-

-

2

▼-

Rank Value Rank Value

Deals

987.9

-

1*

11

-8

1,020.9

167.7


828*

74.9

Catalyst Corporate Finance

Altium Capital Limited23*

6

Bank of America Merrill Lynch 20.6

109*.8

Jan 1 - Jun 30

▲


Industry Total


9*

846.4

24.2

10.2

8 ▼

▲

8

963.9-152

2.9

▲

91.2

13

280.6

▲

23* 54*

22*

100.0

43*


▼

62.9 43.9

54*

23.7761.574.4

6.9 30 100.01.9 78*

-33.67

39,282.6

Ernst & Young LLP

13*

11*

-79.7

17306.0

22*3

28*

451.6

9

▼-5

1

283

† Imputed Fees shown are based on completed deal activity, whereas deal count & rank values are compiled based on announced deal activity.

126*

▼

▲

100.0

5

▲

56.7

** Fee

21

Benchmark International

KBS Corporate Sales Ltd

▼

37*

44*

195.3

UK Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30

100.0

-2


▲▲

Fees

18

0.5

1,080.322*

17.0

88*

423.2

- -73.8 ▼

17.08.4 25*

100.0

824.1

6

-94.7103*5.8

12.3

-

2

3

-13.8

Panmure Gordon & Co Ltd442.0

-2

-13.529.6 20.8

14.1 10*

▲

0.0RSM Corporate Fin LLP

# of

17

-7-1

16*

BDO 5 5

12

6

16*28*43*

100.0▲

Evercore Partners

3 ▼

-81.810.2

23

US$m

100.031

-

22

11

17.9

7

▼

-

▼Change (%)

-72.5

16

42*2213.8 9.6

303.3

18*

32

11

-3

▲ 20.4

485.0

335.3

7.6

18.8

▼

1,168.7

-6

▲▼-1

100.0

▼

19.7 13.7 1.7▼

▲

▼▼

45.0 - - -

19.3

6 46.6

10*15.4

38 -58.8 ▼

118.1 ▲

100.0

269.3

27,472.4

16* 5.21.1 98* 100.00.4 196* 100.08.5 24 15.712.0 19 91.64.7 42* 100.0

100.0

28*4.0 49* 100.0

0.0 - - -353.5 249.9

60* 100.062.1

- 3.0 60* 100.02.1

14.4 9 100.0

35.4

100.012.7

233.223*

6

33.9

6.2

3

-39.3

139.9 95.9 - 1195.4 ▲

23*

197.8 ▲

62*

7.6400.9 -28*

28*

▲162.3

26.0

-20 24.8

0 -

8 037*

11.2

14.19.3

1,564.6 ▼

14.1

-71.4

8

9*

29

6*▼ ▼

-67.254*82*

4.528*

2

8 4

476.7

11

-60.6

34*

52

555.9 23

11*

▲

8

14

▲

17

4

65.4

100.0

31.3

JP Morgan


Financial Advisor

47.5# of Deals


100.0

4

6.1

▲

2016

116*-81.3

62*

Change in

11*22*

1.6

-85.4

85*

15

100.0100.0

34*

211.9

GBP mil

11*

7.5

20*

13.1

22

Rank

27

29

8-

16.6

▼

-18

▼

7 8.0

6.1

- 328.7 ▼1,183.2

11.7

3

-

▲

UK Mid-Market M&A up to US$500m by Rank Value Range

23

2.2 67*▼

▲23

832.6

11*4.7

14.843.5

-

90.9

2,245.8

16*

1,600.6

-

2016

-25

20

22.3

100.0

100.0

97.4

▼

34

69.13.830

▼

Exp. (%)

100.0

22 128*16* 11

116*

UK Involvement Mid-Market Rankings (MM4)

1

Advisor2016

52

11

2

10*

988.035


48.1

Rank

362

23.3

▲

Rank

-82.3

4

-4

14*14*

-

-

-130.5

1,470.4

699.5482.8

16*

125.7 87.20.0

2015

Lincoln InternationalClairfield InternationalGoldman Sachs & CoInvestecWH Ireland LtdDeutsche BankBNP Paribas SAPeel Hunt LLPHSBC Holdings PLCCenkos Securities PLC

42.9

-

64.9 71 36.811.2 20* 55.43.0

▲▲▼

7 -337* 7

*tie


-

23*

▼-

▲▼

9

56.8

107.9

-▲

-6.4

3.6

473.0

▼

▲▲▼

- -93.6 ▼

-38*38*38*

117.0 81.0

568.4 399.2 22 2471.9 ▲0.0

-

Fenchurch Advisory PartnersRBC Capital MarketsNatixisJefferies LLC

22* 8 -218* 8 -534*

▼- 406.1 287.5 35 -53.6 ▼

▼

44*44*44*

▲▲▲

80.5 56.4

382.8

▲

054* 7 388*

342.6 238.6

36*

Houlihan Lokey

-26.89

1

2.9

2,239.3

134.6

12329.6▼

12.7

Hoodless Brennan & Partners

806.1

100.0

16* 16Deloitte

4.5

8

100.06

521▲

10

0

▼-

4.2

685.1

-

▼

9 610.7

39.5

16*

4

-4

5

▼6*

8 18 8

28*28*28*28*28*38*

54* 6 2

38*44* 6 4

116* 6 5

38*

65* 6

14 -

477.0 335.1Livingstone PartnersMacquarie Group

39 6 -13

-1247* 7 254* 7 334* 7 -122*

44*

Numis

1,210.4

Morgan Stanley

296.0 206.7

0.0

4 -65.1680.2 467.5 17

90.6 ▲

9

821.3

64.5

78 -94.4 ▼0.0 133* -

-21.6

-

200

400

600

800

1,000

1,200

$0

$5

$10

$15

$20

$25

$30

$35

$40

# of

Dea

ls

Ran

k Va

lue

(US

$b)


21.0%

13.7%

10.8%

9.8%

9.7%

8.8%

5.8%

5.6%

4.9%

4.2%

4.2% Real Estate

Financials


Energy and Power

High Technology

Industrials

Consumer Staples

Retail

Materials

Healthcare


Telecommunications

6


krizvi

Highlight

9

17,586.1 -8.9▼

-▲ 651.9

24* 5▼ 1.8

43*

0.0

-

0.4 49*

Goldman Sachs & Co

1.6

-

100.09.4

8

43*



5.00.0

CBRE Holding SAS

5

18*0.9

▲

-

Linkers

-1

-13

-7

▲Deloitte

# of

9

11*

11.9

▼

3.5

-72.5

6

Rank

▼

0.7

1

-11

1.2

6*

1


24

UBS

200.0

52

▼

JP Morgan -35.1

Euro mil

6

9

-2

▼10

524* 2

▼Jones Lang LaSalle Inc


383

11*

1,010.4

-


2

60.0

-

0.0


▲

▼

20

71*11.3

10 ▲▼

16*

9

36.0

24*

Rank

11*

▲

11

▲

0.0 -

40.5

4.0-93.4

2.0

15*

344.6

18*

2

▲

12

71.0

▼


0.0

▲18

IMAP

5.721*

19,647.4

7

-17.7

20*

30.0

31* 6 376.8

7 14

4

4

600.9121*

-7

-

52.3

24* 18*

2.8

24*

10

740.4

-

285.3

2.8

▼ 0.4

810.0

4.8

73.6

▲

-4

▼

17


▲343.1

0.03.8-

27*107*

14*

18*

11.4▼

5

1.1105*

▲

86*

37

100.0


*tie

French Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30

Barclays

2

** Fee

French Mid-Market M&A up to US$500m by Rank Value Range

French Involvement Mid-Market Rankings (MM5)

Advisor 20162016 Rank Value

26.0

66*

▼

▲

274

10.2

100.0100.0

5141.4

-62.2

1

6.1

▼

2840.8

127.6 114.0-57.3

1

623.9

19*

37

18*

▼

-47.9

10

0

▲943*

5

1,304.8 1,165.7 4

Change in

-45.016.3

2

2,005.42,257.3

311.0350.2

▲

▲3

-

227.1

20

3▼

-2

2015

8*

815*

▲

18

2015

100.0

29.6

32

3,517.6

Jan 1 - Jun 30

4

14

Rothschild

Industry Total

-

17.62

107* -

16*

5▼

5 ▲ 380.6

▼

100.0M&A International

6

5

- -


-La Compagnie Financiere

Financial Advisor

Societe Generale

3.5100.0

Altium Capital Limited

898.434.0▲

39.3

226

Bryan Garnier & Co

38*

0.0

44.7▼

25*

14*

-3

0.6▼723.81,695

9* -31.358.4-28 633.5

11*

5

35*

92*

0

24*

98*-

▲41*

▼

333.5

-24


56.2 50.1

10

Deals

2

6

382.3

738.1

3,148.9

212


Rank Value

Lazard

8

16.1

24*

2.5

DC Advisory

737.9

822.9

8

▼

2016

Rank # of Deals

714

8* -12

8

100.0

98*

-

19*

-

5.9

35* 100.0

69.0

100.07.0

- - -

20

100.0

8.4

US$m

BNP Paribas SA

Natixis

Ernst & Young LLP

Credit Agricole CIB

KPMG

-

21*

▲191.2

10-

43*Easton Corporate Finance SAS

0.0

11*

20*

5Jefferies LLC

6

3

▲ 0.0

Exp. (%)

72,234.8 2,003.1

Change (%)

215

▲

15.9

43*

2 ▲

1.47

▼

58


Financiere Cambon


-63.6 ▼

-93.8

67.1

30*

832.4

0.0-

▼-

26▼

Rank

5.6

-94.7

19

-

5.7

75.2

100.0

-58.0

Fees

100.028.2

100.0

100.0

68.660.3

- -73.8 57*

▼

5.7

100.032.0

90.8

100.0

-99.3

-

100

200

300

400

500

600

700

800

900

1,000

$0

$2

$4

$6

$8

$10

$12

$14

# of

Dea

ls

Ran

k Va

lue

(US

$b)


20.5%

18.5%

10.6% 10.6%

9.3%

7.0%

5.6%

4.8%

4.7%

4.4% 2.3%

Real Estate

High Technology

Financials


Industrials

Energy and Power

Retail

Consumer Staples

Telecommunications

Healthcare


Materials

7


krizvi

Highlight


-1

14*47*

17

▲

Advisor


Change (%)

11

Rank Value

Rank

1Globalscope

Rank

Deloitte

6*Mummert & Company

100.0

100.0

15*

100.0

140.0

100.0

100.0

24* -80.4

18* 111.7-

5

-7 ▼

0.0

52.5

-DC Advisory

▼


2015

Financial Advisor

15*

61.7 --IEG-Investment Banking

▲

Rank

6

Deals

6*

-18

22

10

ACXIT Capital Partners

2

5*

47*0.0

1

3.4

69*45*

38*

18.1

1,560.5

-

14,630.6

4

3Bank of America Merrill LynchClearwater International

Berenberg Bank

-15* 21*

15*24* -

2.0

- 0.0 0.005-5

▼

-80.2

196.0

0

100.0

72.70.8

3.4

1.2

▲9

▲

10.0

81.7

-

2016

4718

2016

4*

44* ▲

-

28

- 100.0

-

2.1-

24*

1,392.8

12

-

-

# of

Exp. (%)Fees


- 1.4

11

-20.0

Deutsche Bank

BDOClairfield International

17.7

-

21

8.8

0.0

Rank Value

▲

100.0

100.0

3


-

Rank

63.9

12*

11*

-

12.4

-

3275.86.0

34

BNP Paribas SA

-45.4

836.3

36.0

-

30.040.5

-

7.0

Change in

2

100.0100.0

34.7-

8

3.2

40.5

1.5

187.7

-

▼

4

1.0

▲

100.0

Jan 1 - Jun 30



1US$m

Ernst & Young LLP

8

-

7Commerzbank AG

KPMG

15*

25

▼▲

47*

-91.3 22 53*


4.2-

19

7

0.0▼▲

1576.1

IMAP

--

97.6

65.3

** Fee

7*29*24*

14*11*

180.0

35

50

0.0

7397.0

-

17.9 16.5

German Involvement Mid-Market Rankings (MM6)

2.5

3.9

▼100.0

6▼

-

-

10

6

-64.9

37

6

-

100.0

10

Euro mil

5.50.014 0.0

110.6

-

0.0

▲▲

0.0

16.0

0.0100.0

German Mid-Market M&A up to US$500m by Rank Value Range

19*120.1

# of Deals

Rothschild

21*

44*

100.044*

15*Altium Capital Limited

Concentro Management AG

3.3

2016

4 1126.6

-

1

-

-

-

445.3

-21 -71.0

-2 55.0

--5

8

72.0 64.3

5.2▲

44*

635.4

1

-

23.0

▼

▼

0.0 -

▲

-

86.2

8

8


17JP Morgan 60*

909.4

-

-185

-

100.0

74.4100.0

- 100.0

7*

33

-

0.0

1.7

20.2

3


16.440*

22

20

51*

44

German Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30

2.9

15*

15* 18*


268.3 239.034.1

4 -5

5 ▲

421*

13,122.8

13* 15*

4

2.2

62.21,082Industry Total 416.2

▲

-92 ▼

▼4

-

▼▲

UniCredit

4.9

*tie

https://www.thomsonone.com Visit http://dmi.thomsonreuters.com to View Archives and Order Custom League Tables

7* 8*

3

15*

26.0

Lazard

-

7*

2

▲

5

11

▼

15*

5

45* ▼

8*

5

13* 12* -160

-4

13

-

125.0 24*

▼4.6

126.24*

24* 44*

Global M&A 24* 21* 4 0 -Network Corporate Finance 24* 33* 4 1 ▲N+1 24* 21* 4 0 -Credit Agricole CIB 24* - 4 4 ▲Credit Suisse

- -140.1 123.0 16 - -737.4 674.0 3 - -313.6 288.0 9* -18.1 ▼

0.0 0.0 - - -

3.5 23 100.01.0 53* 100.05.4 16 100.05.5 14* 100.03.0 32 30.02.0 40* 100.0

4 2 ▲M&A International 24* 8* 4 -5 ▼

0.0 0.0 - - -25.2 22.3 -

-

100

200

300

400

500

600

700

800

$0

$2

$4

$6

$8

$10

$12

# of

Dea

ls

Ran

k Va

lue

(US

$b)


33.1%

18.4% 7.8%

6.9%

6.1%

5.2%

5.0%

4.3%

4.3%

3.9% 3.2%

Real Estate

Industrials

Financials

High Technology

Healthcare

Materials

Retail


Energy and Power


Telecommunications

Consumer Staples

8


krizvi

Highlight

*tie

5.369.0

- - - 0.5

5.6

48*0.5

20

- - -5.2

40*

15*1,383.3

723.8

2016

# of Deals Change (%)

902.6

3-

▲

3

100.0

▼

65.4

29

Rank Value per Advisor# of Deals per Advisor

22

3

121,766.8

▲

Deals

4

329.8-

32

100.0

14.5

▼ 0.0 0.0

15.5 97.5

82.38*

7

14-31.6

28 -70.0

-

122.1

13

▼

2015

-

205.4

4

Italian Involvement Mid-Market Rankings (MM7)

▼0.0

4

80.8

25

HSBC Holdings PLC

0.0 48* - -352.4 308.9 16 -11.5 ▼

▼40* 2

** Fee

11.01 74.5


29*

Euro mil

▲KPMGUniCredit

-

2

11

26*

Globalscope

Jan 1 - Jun 30

29* 15*

JP Morgan

307

Leonardo & Co

BNP Paribas SAErnst & Young LLP

40*2.52.41

2.0

82.5861.3

-

100.0

0.0

8

Houlihan Lokey

2016Rank Value

Credit Agricole CIB

3

100.0

509.6


Italian Mid-Market M&A up to US$500m by Rank Value Range

LazardIMAP- Vitale & Co

24*

44.6

7.2 6.7

4

2

Fees

▲1

15.9

La Compagnie Financiere

- -

5.0

-4 ▼

-

- -

3 ▲

651.9Ethica Corporate Finance SpA

Philippe Villin Conseil

Bank of America Merrill LynchDC Advisory

Nomura

0.0 0.0 48* - -

110.1 ▲

21*

- -

116.7

4

-2 ▼

76.1

-1 ▼

112

135.9

31*

1,949.8

0 36

New Deal Advisors SpA▲

CFI

-

8* 2

2

3 3CP Advisors Srl 21* -

▲

100.03 130*

72* 100.0Industry Total

48*

-48*

1.0

Global M&A 29* -

103.3 30

16.1 14.1 -61.7565

Deloitte 0.2

Arche Srl

3 0 -21*

76*100.0

17.8 -

50.1 ▲

UBS

-

21*


Barclays0.0

302.2

46*723.8 651.9

263.4

21*

29*

-

1.5 35*

0.0

0.0 1.5

▼

▲

10

▼175.3 159.3

2537.9

935.4 835.0

-

14

48.3

2 178.8

▲1

Advisor

12

89.2

-1.9▲

28.1

100.0

▲

Rank

▲ 100.0

8*

21*

4.3

▲

- 331.7▲

1199.3

651.9

1.03

▲

1

-

14

6

3 -

-26*

100.0

2325.0

24

10*

821.7

Change in

445

5

100.0

10*

3

57.2

3104.5

2.53

0.5

1 ▲29* 40* 2 1

12,541.3

30*

-329*

-47.9

9 ▲405.0

17*

10* ▲▲

Banca IMI (Intesa Sanpaolo)

100.0

▲

3.7

6*

100.0

723.8

7▲

11 76.8-

▲

Rank

-

395.2

8*

525.4

15*

7

3

20*

988

16

6

30*

48*


9Financial Advisor

2.9

Fineurop SpA

Mediobanca

Rothschild

35.046

4

1,145.0 1,028.4

Rank

32

6

-▲

Rank Value

Rank

▲

776.9100.0

-13.2

N+1

2

21*

11,210.5

44.1

29* 30* 2 0 -29* 20* 2

2.3



10--

20.0

-


-

-

15*

6

8*

1,150.6

▲

15*

▲

-81.7

35* 100.0-

21*21*

17*▲


0.0

0.0▲

Morgan StanleyNatixis 100.0

100.040* 100.0

- - -

118.3

- 389.6

93.5

Vitale & Co SpA

5

8

-

-

195 1,246.7

-214

17*

49.1 ▲

▲

100.0

▼ 1,289.4

58.7

441.3

17*

19

1

20* 2.1

Kon SpA

2

19.3

10*2.2

100.0

40*

8*

12*

▼

-

5▲

-9

13440.0

8*12

9.1

-

0.0

88.3

-

▲

40*▼

4.2

30*

1

4

-81.1

# of

15*4

-

▲ 0.0

39.4

▲

0.6▲▲

7353.6

▲


38.9

▲ -

21*

3

8*

2.6

595.7

3

100.0

0.3

100.0

Italian Mid-Market M&A up to US$500m by Target Industry

20*

12* 2

9.8

-

8.4

Lincoln International 29*

5

25

-

3

Exp. (%)

Jan 1 - Jun 30

2.3

2016

23.2

-

360.17

299.60.0

8.5

5

US$m

▲

-

47.0

2220*

3▲

75

503.0

29

-4-

-

50

100

150

200

250

300

$0

$1

$2

$3

$4

$5

$6

$7

$8

# of

Dea

ls

Ran

k Va

lue

(US

$b)


20.3%

15.9%

10.7%

8.6%

8.0%

7.5%

7.1%

6.9%

5.8%

4.8% 3.2%

Financials

Real Estate

Healthcare

Energy and Power


Industrials

High Technology

Consumer Staples


Retail

Telecommunications

Materials

9


krizvi

Highlight

14*

8

14

17*1

162.72

19*

-4

▲5

18677.4

31*

29*

304.915,332.2

31.0

▲

▲

1.1

100.0

- 33.5

36.5

5.7

1,114.4

6.3

26*

4.2

534.7 7

18*

6.3

20.5- -

18*286.8

135.7 121.0 180.4

US$m

--80.3

6

12


33*

14*

▼

▲-64.6

3

6*261.7

-

4595.5

19*

100.0

29.1

5-

1012.3

176.2

64


41▲883.7

▼

11* 8*

100.03 655.0 ▲

19* 47

23.3

765.39

22▼

8205.4

25* 21

Jan 1 - Jun 30

3 ▲

8

124.8Clairfield International

ABG Sundal Collier

1.7545.82.3

5-

8*

-

125.6

161.9

Rank

55.2

▼

454.5

8*

4*

19.2

Rank

9*

▼20

7

6*▼

8.3

102.03

6.9

7

995.2

▼855.4

▲

3*

-15

15.9100.0

100.0

12* 3

DNB ASA

Translink Corporate Finance

Nordic Involvement Mid-Market Rankings (MM9)

2016 2015

-1-

100.0

12

2.7

Euro mil

11 6.9

159.7

1

51

4*3*

1

11* 10

IMAP108.5

▲M&A International

-5

-3

100.0

25.925*

-51.50 13.2

▼

2.6

-86.34.2

100.0

8

0

-

Rothschild

-

▲PricewaterhouseCoopers


Rank Value

Financial Advisor

100.0

23


100.0

9*

93.2

▲

-▲

215*10*

** Fee

30

KPMGRank

18

Change (%) Fees

Change in

▲ 3.2

-

SEBErnst & Young LLP 11

15.3 1

2.116*

3

Nordic Mid-Market M&A up to US$500m by Rank Value Range

5*

2016

620.6

Jan 1 - Jun 30

45.0

76.785.0

992.5

5* -2

▲

10.7-

Carnegie

23

10*

100.0

516.9

8*

7Deloitte

5*

HDR Partners4

Deals


1.4GlobalscopeClearwater International

11.5

5151.0 45.538.4

▼35.1

▲

2 1

59.3

NordeaBarclays

2.2


Handelsbanken Capital Markets 11*

19*-Global M&A

739.6

▲

11 -1

2

▲

16*0 - -

▲



--

19*4

92

771.7 ▲ 0.755* 3 ▲ 80.2 71.7 58*

Danske Bank

JP Morgan

*tie

6

19*55* 3 2 ▲ 2.0

330.4 291.9 18 -68.1 ▼459.7 419.6 9 - - 33* 100.0

Industry Total

2.0

1.9 39* 100.05 0

23*12*

▲ 0

37.716*

# of Deals

# of

▼

34*

100.0

▼

2

-7

9

Advisor


▼

5.2

10.9

Exp. (%)

28.4

BDO

Nordic Mid-Market M&A up to US$500m by Target Industry

Rank

2016 Rank Value

4 -4 ▼ 7.2 6 100.0


0

▲

56.9 ▲

55*

-

▲

35

-

13,706.51,084

▲

-13 ▼ 63.4

Advium Corporate Finance 23* 55* 3 2 ▲Alpha Corporate Finance 23* 34* 3 1 ▲Arctic Securities ASA 23* 34* 3

00

318.0

Evercore Partners 23* - 3 3 ▲FIH Partners AS 23* 19* 3 -1 ▼

0 - - -0 - - -

2.0 33* 30.34.9 14 100.0

- -783.0 707.6 4 51.1 ▲

1 ▲Livingstone Partners 23* 55* 3 2 ▲Bank of America Merrill Lynch 23* - 3 3 ▲Pangea Property Partners AB 23* - 3 3 ▲Goldman Sachs & Co 23* 25* 3 0 -

4.6 15* 100.01.5 44* 100.0- - -

1.5 44* 100.011.5 2 61.52.1 31* 100.03.6 20 32.7

283.5 19 19775.0 ▲0 0 - - -

342.7 302.9 16 177.0 ▲0 0 - - -

12.6 11.0 - - -402.2 361.1 10

-

100

200

300

400

500

600

700

$0

$2

$4

$6

$8

$10

$12

$14

# of

Dea

ls

Ran

k Va

lue

(US

$b)


17.9%

16.1%

11.2%

11.0%

8.1%

7.5%

6.6%

6.6%

6.3%

4.7% 2.8% Real Estate

Industrials

High Technology

Energy and Power

Telecommunications



Healthcare

Materials

Consumer Staples

Financials

Retail

11


krizvi

Highlight

Financial Advisor

728.566

8*

▲

66.9

0

711*

100.0

63*1798.1

-

-1128.1

Rank Value

▲

3

312.7

39

Industrial & Comm Bank China

Barclays

7

▲

9,185.21,831

▼ 2.0

8

5*

14

296.4

5

2

190.7

-

8*▲

21

IMAP

Scotiabank 180.9

12.614*14*

0

US$m


16*

5

0

-

2

112.5

3

22

3.7

▼

43*40*

0.5

1

KPMG

-48.9

▼

20*8*45

1*-29.1

8*

2

14*

0.7

▼

Rank

▲

0.2

44*

▼

17

-51.6

▲

-2

N+1

1

-▲

▲

2016

▲

1*

-

▼3

100.0

50.1 46.0

27*

6.3

100.0

7.2

CFI0

5

25.0

** Fee

-

-

4

20*

▲

3.1

2

2

100.0

100.0100.0

-2

35*

Change (%)

153.1-

14* 330.2

-

7.3

-8

Exp. (%)

9413.9

Change in Advisor

Industry Total

▼

▲

3

-

20162015

▲

-

▼275.9


205.0


77.6

21*-

2

-

7

Eastern European Mid-Market M&A up to US$500m by Rank Value Range

202.0

-

▼

4.3

14*

Rank Value


4

14*2

35*

-

11* 5*

5.1

Fees


10*

▲

32*

BDO

281.5

JP Morgan


8

29.6

6▲

-3*

Deals

301.5 268.5

-59.3

615VTB Capital

12-

-

2016

104.5


4-15

1010

32

14*

▲

1

170.0

-

▲66*

▲

35*

18.3

651.50

-3

KBC Group NV

▲

16

Rothschild2

# of

208.7342.5 313.1

-5

18*

-18.3

69*

34*

12.0

7 0

11.02

3

-

-

2 ▲

▼

14*

5.8


100.09.8

-

11*

0.1


EE Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30

3.98

20*

100.0

100.0

-4

Citi

-1100.0

24

17.221*

-

5

-4 ▼

14*

5.2

0 -

-72.6

Deutsche Bank


0

12*

Rank

116.0

0.6

103.626.9

3* 16.3266.5

▲229.6

245.210*

37.8

Jan 1 - Jun 30

0

26

▲-

0.8

1.1

37*

1Rank

*tie

100.0

313.6

▲2 11

35*

1

# of Deals

3*

3*

2

186

100.0

4.0

92.0

8

8*

14*86.0

1.8

3.3-

10

7.0-

100.0

Deloitte 100.0

35*

Ernst & Young LLP

15 -74.310,270.8

-121

▼-

-

-

8.1

-

0.4

1.5

▲

-65.9

-70.1 ▼2

16.3

UniCredit

2

-516*

Morgan StanleyDanske Bank

35*

2Lazard

14*

95.9

0

144.6

-

6.5

2.0

Aday Bagimsiz Denetim7.3

-

100.0

85.9

100.0

100.0

14*

163.7

▲ 13*

Euro mil


Rank


100.0

100.0

100.0

▼

Cushman & Wakefield Inc

Eastern Europe Involvement Mid-Market Rankings (MM16)

-

200

400

600

800

1,000

1,200

$0

$2

$4

$6

$8

$10

$12

# of

Dea

ls

Ran

k Va

lue

(US

$b)


19.2%

17.4%

9.9%

9.5%

8.3%

7.4%

6.9%

6.5%

5.0%

3.8%

3.8% 2.3% Financials

Energy and Power

Materials

Real Estate

Retail


Consumer Staples


Industrials

High Technology

Telecommunications

Healthcare

13


krizvi

Highlight

4

36*

17

-

-

108.0

218.1-36.2Gresham Partners

Houlihan Lokey

BMO Capital Markets

▼

▲▲ 10

47*

36* 2 1 ▲21* 2 0 -

35

4

1 64.4

177.0 18 185.9 ▲

3-43.2

2* -78.0

16.7

▲32.8

-9

7

17▼

▲

-▼

510.6

21*

0

3

2

347*

19*

-3

-15.8

Aus/New Zealand Mid-Mkt M&A up to US$500m by Target Ind

-61.121*

21*

162.6

-

2100.0

55

-52.7

▼

59.8

19*


2832*

0.7

1.6

-▲

21

19*

▼

36* 1

10*

1

Australia/New Zealand Mid-Market M&A up to US$500m by Rank Value Range

100.0

4

0.7

2016

1,937.5

12*6*

-

1.2

4

613.2

Rank Value

3

-1

12*

20

Jan 1 - Jun 30

-

1505.2▲

614.2

12* 00

1

17.8

Rank

- 0.3

- 3

▼

19*

21*9*

▼2

Rank

19*

4*

Deutsche Bank12*

12*▼

▲

▲

20.6

▲

50-

100.0

▲

Rank Value


Rank

1

10.313

-21.2

▼2

29

85

32.1

4* ▼Goldman Sachs & Co 5

** Fee

Exp. (%)

2

7*

-12

-

197.4

14

RBC Capital Markets

▲58*

37*Ernst & Young LLP

Rank

Nomura

74.6

12.9


100.0

123

▲

12*

1,143.6

Rothschild-

6*

11

12.5

▲

224.096.5

-

2UBS

-2

▲ 25.816

100.0▼3

17.9

150.3

7*LazardCiti

▲

12 ▲

Change in



4*

51

43.1

16▼ 82.6

▼

17.5

10*

282.8

9.4

5


▲

2016

350.5

723.0

-96.2-1

▲ ▲

2.0

9.8

2 12*Jones Lang LaSalle Inc

Clairfield InternationalPeel Hunt LLPBank of America Merrill Lynch

-4

-23.1

- 159.0

-37490.7

6*

-

100.0100.0100.0

172.7

▼

100.0

100.0

100.0

-30.8168.8

Jan 1 - Jun 30

5.5

19,664.3764 350.1

KPMG

Moelis & Co

3.0

# of

7*

Greenhill & Co, LLC

15

-

82.0

73.2

0.7

3

18

▼

3

3.5

21*

Deloitte

4

Credit Suisse

22

100.0

6

56.6

4

*tie




312*

Haywood Securities Ltd.

19*19*

- 2 2 ▲9* 2 -3

12.0

423.30

19*19*

12*

6

2016

▲-57

▼

4

18*

21*

2

97.6

229.8

-81.0 100.00 66* -

5.3 14 100.0

▼

3.6 100.0

7.6100.0- -

30

62.7

1,624.8

9.1

12*

▲

1.9

11.4

30

Australia/New Zealand Involvement Mid-Market Rankings (MM11)

7

US$m

Advisor

47*

6

▼4.1

▲

Deals

45.0▲

77.0

261.5

83.0

2.7

- - -

-

Industry Total


Financial Advisor

2 ▲

0.7 47* 100.01.4 35

1

39

- - -

0 - - -80.6

19*19*19*

- 2

▼-73.2

-

312.1

18

3

2015Change (%)

Macquarie Group# of Deals

2

0 ▼

12*

1.6 32* 66.7

Generational EquityMiles Advisory PartnersRabobank NVJP MorganGrant Samuel

1955.7105.1

1


Fees

-

100

200

300

400

500

600

700

$0

$2

$4

$6

$8

$10

$12

$14

$16

# of

Dea

ls

Ran

k Va

lue

(US

$b)


22.7%

14.2%

12.2% 10.2%

9.3%

7.6%

6.7%

5.6%

4.9%

3.5% 3.1% Real Estate

Materials

Industrials

Energy and Power


Financials

Consumer Staples

High Technology


Retail

Healthcare

16


krizvi

Highlight

`

4.1 8

17 50.03 7 -3

▲ 517.6 5 204.5 ▲

# of Deals per Advisor Rank Value per Advisor (US$m) Imputed Fees (US$m) †

24 -47.3 ▼ 1.2


Indian Involvement Mid-Market Rankings (MM21)

MM21 - Undisclosed Values & Values up to US$500m Jan 1 - Jun 30 Indian Mid-Market M&A up to US$500m by Rank Value Range

2016 2015 # of Change in Rank Value 2016 Rank Value Advisor 2016 ** Fee

Financial Advisor Rank Rank Deals # of Deals US$m Rank Change (%) Fees Rank Exp. (%)

90.8 ▲ 1.0 19 90.96 0 -

Standard Chartered PLC 5 29*

100.0▼ 128.0 17

- - -

1,041.4 1 2367.8 ▲ 0.7 22

GCA Savvian Group Corp 6* - 3 3 ▲ 26.5 - - - 0.2 40* 100.0Deloitte 6* 11*

Ernst & Young LLP 1 1 14 -10 ▼ 438.9 8 -41.9 ▼ 8.6 1 85.1KPMG 2 4 11 3 ▲

3

4 3

PricewaterhouseCoopers 3Axis Bank Ltd 4 5* 60.3

Avendus Capital Pvt Ltd 6* 2 3 -11 ▼ 64.1 23 -91.6 ▼ 1.1 18 100.0Goldman Sachs & Co 6* 11* 3 0 16.3 ▲ 5.1 6 100.0- 514.3 6

2

Clairfield International 6* 11* 3 0 - 11.5 - -21.8 ▼ 1.3 16 100.0

Moelis & Co 6* - 3 3 ▲ 505.3 7 - - 3.1 11* 100.0Rothschild 15* 29* 2 1 ▲ 230.0 14 -

19* 3

- 3.4 9

1 ▲ 0 39* - - 7.2 2

884.5UBS 15* -100.0

15*15*15*15*15*15*

Kotak Mahindra Bank LtdArma Partners LLPMorgan Stanleyo3 Capital Advisors Pvt LtdLazardTranslink Corporate Finance

5* 2 -4 ▼- 2 2 ▲

29* 2

93.1

▼0 - - -

410.0 10

74.0 Indian Mid-Market M&A up to US$500m by Target Industry Jan 1 - Jun 30


627 22 ▲ 10,899.8 11.7 ▲ 116.9


5* 2 -4 ▼ 19* 272.4 ▲ 0.5 25* 100.0

*tie



15*15*15* 15.4

5 100.00.4 35* 100.0

Industry Total

100.0

- - 6.4 3 100.0

Jefferies LLC 6*

Citi 6* 29* 3 2 ▲ 781.6 20* 11.5

2 2 ▲

▼ 0.3 38* 100.0

1 ▲11* 2 -1 ▼29* 2 1 ▲

70.2 22 -88.1

29

- - 0.9

0.0 ▲0

-78.0

3

3.10.61.8

39* - -

-29*29*

2 ▲2 1 ▲2 1 ▲

2

1540.0 ▲5.5 -

0.1 45*

100.0

0.9 20* 20.96.3 4 100.05.6

0 - 24.0

11*23*14

100.0100.0

6* 11* 0 - 571.7 3.4JM Financial Group 3

Societe GeneraleM&A InternationalJP Morgan

-7.8 - -

180.0 15 115.6

0 -

4 538.8 ▲

--

▲

-

50

100

150

200

250

300

350

400

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

$10

# of

Dea

ls

Ran

k Va

lue

(US

$b)


17.1%

14.4%

13.9%

13.4%

13.0%

9.5%

4.9%

4.7%

4.0% 2.7%

1.3%

1.2%

Healthcare

Materials

Financials

Industrials

High Technology

Energy and Power


Retail

Telecommunications


Real Estate

Consumer Staples

20


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