2019 In Review – Arma expands scope of expertise and advises on 17 new deals
The past year has been pivotal for Arma Partners. We expanded our scope of expertise to address the ever-widening Digital Economy, advising on 17 transactions that exemplified the increasing pervasion of technology within every other industry vertical, including 10 M&A deals with a combined value of $6.7bn.
In 2019, an historically unprecedented volume of capital was available to private companies at every stage of their growth trajectory. In the face of a challenging IPO market in the US and muted public market listings in Europe, private financing transactions consolidated their position as a compelling alternative source of funding to support innovation, fund organic and acquisitive growth and provide liquidity to shareholders. Arma raised over $450m across seven growth financings last year and further enhanced its capabilities in this strategically important area with senior additions to our Private Capital team.
The growing trend of private equity investors seeking partial realisations while rolling over their stakes, reinvesting or pursuing joint control deals in leading Digital Economy companies emerged as another important theme in 2019. Arma has established a leading position in orchestrating exceptional outcomes on such deals: General Atlantic’s partial realisation of its holding in energy and commodity data provider Argus Media and Oakley Capital’s sale of, and minority reinvestment in, web hosting automation software provider WebPros were two landmark multi-billion-dollar deals on which Arma advised last year. These transactions also underscored the considerable attractiveness of data and software companies for private equity investors, combining long-term growth with substantial recurring revenue visibility and high levels of profitability.
Meanwhile, North American strategic buyers have been active participants in both the M&A and fundraising markets in Europe, continuing to capitalise on the strength of the dollar to gain exposure to Europe’s growing ecosystem of highly innovative companies. In 2019, Arma advised on investments in, or acquisitions of, European Digital Economy leaders by North American companies including Airbnb, Cognizant, First Data, General Motors, Thomson Reuters and Roper Technologies.
You can find more information on the 17 deals on which we have advised across the world in 2019, as well as all our previous transactions, here.