Private Equity International | Europe’s Mid-market Resilience
Mar 2024
Originally posted by Private Equity International on March 5, 2024.
According to our Valuation & Opinions Group’s proprietary insights, 80% of European companies reported YoY revenue growth in Q4 2023, and 65% underwent YoY EBITDA growth.
European mid-market companies even outperformed the U.S., reporting 12.6% revenue growth and 7.1% EBITDA growth. This compares with U.S. companies’ 7.8% revenue growth and 4.8% EBITDA growth.
Private credit fair value was flat, valuations marginally declined and stressed and distressed credits continued steadily at 2%. Covenant breaches decreased to 3.4% from 3.9%, indicating that issues were addressed by amendments (18% of Lincoln-tracked companies underwent an amendment).
Summary
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Proprietary insights from Lincoln International's Valuation & Opinions Group were recently featured in Private Equity International.
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Chris Croft
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Brian Garfield
Managing Director & Head of U.S. Portfolio Valuations
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Chris Gregory
Managing Director & Co-head of Transaction Opinions
New York
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Ron Kahn
Managing Director & Co-head of Valuations & Opinions
Chicago
