◆ Deal Insights · sector read
Industrials
ConsolidationMore deals while venture money dries up: buyers are picking up companies that cannot raise. Sell-side, due diligence and integration work. Public bodies are buying more advice here too.
M&A deals
+51%›
95 in the last 3 months vs 63
Venture capital
−28%›
€4.1bn in the last 2 quarters
Public mandates
+101%›
221 in 6 months
Capital pressure
50%›
317 of 632 venture-backed overdue
01The month's strongest deals
Where the Industrials mandates are forming.
The highest-conviction Industrials deals in the 30 days to 4 September, each with the advisory angle. Click a deal for the mandate and the buyer.
Industrials · United KingdomTrigger 9/10
easyJetBought by Apollo Global Management · $8bn
Industrials · GermanyTrigger 9/10
ebm-papstBought by Madison Air · $5bn
Industrials · GermanyTrigger 9/10
🔒Bought by 🔒
🔒 The mandate angle is for members
Industrials · United KingdomTrigger 9/10
🔒Bought by 🔒
🔒 The mandate angle is for members
Industrials · United Arab EmiratesTrigger 9/10
🔒Bought by 🔒
🔒 The mandate angle is for members
Every Industrials deal in six months
02Who sells next
The likely sellers, and who needs them sold.
Venture-backed Industrials companies ranked by StrategyAI's acquisition odds, the ones past their normal time to raise, and the funds in their harvest years.
◆ StrategyAI prediction · likely to be acquired next
14 Industrials companies have at least twice the typical odds of being bought within two years.
1
Voi
Transportation · Sweden · Overdue to raise · €426m raised
Exit-readyOverdue to raiseCapital pressureInvestor selling
×3.2
2
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Transportation · Estonia · Overdue to raise
Exit-readyOverdue to raiseCapital pressure
×2.9
3
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Transportation · Netherlands · In its raise window
Exit-readySerial buyers due
×2.9
4
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Transportation · France · Overdue to raise
Exit-readyOverdue to raiseSerial buyers due
×2.7
5
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Robotics · Switzerland · In its raise window
Exit-readySerial buyers due
×2.7
6
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Transportation · UK · Overdue to raise
Exit-readyOverdue to raiseCapital pressure
×2.6
7
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Transportation · Spain · Overdue to raise
Exit-readyOverdue to raiseCapital pressureSerial buyers due
×2.4
8
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Robotics · Germany · Deploying
Exit-readySerial buyers due
×2.4
9
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Robotics · France · In its raise window
Exit-readyInvestor selling
×2.3
10
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Robotics · Germany · In its raise window
Exit-readySerial buyers due
×2.1
×N is the odds of an acquisition within 24 months against a typical venture-backed company (3.0%). The model is backtested on European exits; an indication, not advice.
Overdue for an exit
317 Industrials companies are past their normal time to raise; 88 are backed by a fund in its harvest years.
Voi
Exit-ready 100Transportation · Sweden · 31 months since Series D+ · €426m raised
Bolt
Exit-ready 100Transportation · Estonia · 36 months since Series D+ · €1.8bn raised
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Exit-ready 100Transportation · UK · 34 months since Series A
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Exit-ready 100Transportation · France · 29 months since Series A
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Exit-ready 99Transportation · Spain · 42 months since Series C
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Exit-ready 98Transportation · Spain · 40 months since Series B
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Exit-ready 98Transportation · Austria · 31 months since Series A
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Exit-ready 98Transportation · Sweden · 29 months since Series A
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Exit-ready 98Transportation · UK · 41 months since Growth/Late
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Exit-ready 97Transportation · Switzerland · 27 months since Series D+
The fund clock · funds that have to sell
43 venture funds (€4.8bn) are in their harvest or extension years: 41 managers who need exits, and the sale processes that come with them.
Manager · fundSizeClosedAgeStage
Allianz X CVCGermany · Fintech, Health, Mobility, Data, Cybersecurity€570m20197.6 yrsHarvest
Cathay Innovation IIFrance · Commerce, Consumer-Tech, B2B, Healthcare, Fintech, Mobility, Energy€490m20197.3 yrsHarvest
🔒UK · Deep-Tech, Industry-4.0, IoT, Robotics, Fintech, Medtech––9.4 yrsHarvest
🔒Germany · Fintech, Health, Mobility, Data, Cybersecurity––10.8 yrsExtension
🔒Germany · Fintech, Digital-Health, Prop-Tech, Industry-4.0, Enterprise-Software, Mobility, Logistics––7.6 yrsHarvest
🔒Germany · Mobility, Logistics, Travel, Prop-Tech, Food-Tech, Agri-Tech, Digital-Health, Ecommerce, Marketplaces, Fintech, Insurtech, Productivity, Future-of-Work––7.3 yrsHarvest
🔒Germany · AI, Deep-Learning, IoT, Autonomous-Driving, Analytics, Next-Generation-Architecture, AR, VR, Mobility––10.5 yrsExtension
🔒UK · Health-Tech, Big-Data, AI, Mobility, Enterprise-Tech––7.4 yrsHarvest
🔒Ireland · Cloud, Big-Data, AR, VR, Robotics, IoT––10.5 yrsExtension
🔒Russia · Consumer-Internet, Marketplaces, Fintech, Marketing, Transportation, Ed-Tech––10.2 yrsExtension
Harvest: years six to ten, when a fund sells its companies to return capital. Extension: past ten years and overdue to wind up. Source: EuroVC fund closes.
03Leadership moves
Who just changed the team at the top.
Leadership moves · last 30 days
44 Industrials companies changed leadership this month; 2 of them were acquired in the past year. A new CEO or CFO after a deal is the first sign of a new plan.
🔒Leadership change · Industrials · United Kingdom · 11 SeptAcquired in the last year
🔒Leadership change · Industrials · Denmark · 11 SeptAcquired in the last year
🔒Leadership change · Industrials · Norway · 23 Sept
🔒Leadership change · Industrials · France · 15 Sept
🔒Leadership change · Industrials · Luxembourg · 15 Sept
🔒Leadership change · Industrials · United Kingdom · 15 Sept
🔒Leadership change · Industrials · United Kingdom · 15 Sept
🔒Leadership change · Industrials · Italy · 15 Sept
🔒Leadership change · Industrials · United Kingdom · 15 Sept
🔒Leadership change · Industrials · Netherlands · 15 Sept
04Other sectors
Read another sector.
Every Industrials name, every morning.
Members see the companies behind every number, the people they already know there, and live signals scored against eleven mandate patterns.
M&A: EMEA transactions, momentum compares the latest three months with the three before. Venture capital: tech.eu Funding Explorer (CC BY 4.0) and EuroVC. Predictions are StrategyAI model outputs: indicative, not advice.