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MID-MARKET M&A REVIEWFINANCIAL ADVISORS

First Quarter 2016

REUTERS / Edgar Su

Japanese Involvement Mid-Market Rankings (MM15)

11

12

13

14

15

16

17

18

Hochinma Involvement Mid-Market Rankings (MM13)

Worldwide Mid-Market Rankings (MM1)

US Target Mid-Market Rankings (MM2)

Latin America Involvement Mid-Market Rankings (MM17)

European Involvement Mid-Market Rankings (MM3)

Nordic Involvement Mid-Market Rankings (MM9)

German Involvement Mid-Market Rankings (MM6)

https://www.thomsonone.com

First Quarter 2016 | Mergers & Acquisitions | Financial Advisors

Mid-Market M&A ReviewTable of Contents

Worldwide Mid-Market M&A Deals Intelligence

UK Involvement Mid-Market Rankings (MM4)

French Involvement Mid-Market Rankings (MM5)

1

2

4

3

Ranking Criteria Summary

19

10

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

5

Italian Involvement Mid-Market Rankings (MM7)

Spanish Involvement Mid-Market Rankings (MM8)

Chinese Involvement Mid-Market Rankings (MM20)

20Indian Involvement Mid-Market Rankings (MM21)

21

6

7

8

9

Hong Kong Involvement Mid-Market Rankings (MM12)

Singapore Involvement Mid-Market Rankings (MM14)

Benelux Involvement Mid-Market Rankings (MM10)

Eastern Europe Involvement Mid-Market Rankings (MM16)

http://banker.thomsonib.com/

#


Worldwide Mid-Market M&A up to US$500m by Rank Value Range Jan 1 - Mar 31

Jan 1 - Mar 31

Mid-Market Deals Intelligence

Costa Rica 360.0 1 0.0 1

Rank Value

US$m

10,002 ▼

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

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

First Quarter 2016

DEALS VALUED UP TO US$500 MILLION

MID-MARKET M&A REVIEWM&A Rankings For Small-Cap Deals Valued Up To US$50m Are Also Available

3,201-5.1

-10.5-13.633.3

-50.574.8

-36.8119.9

140

840.2

▼

▼

▼

3,366.2

1584,594.9South Korea 5,057.5 ▼

2,151.6

Hong KongIndia

▲

Japan

▼▲

▼

330.0 0.03,457

16,041.7

# of

Deals

▼

158 ▲

Germany 3,053.9 322 6,111.5 389 ▼Italy 3,136.2

637 ▼France 6,510.6 644 4,724.9 629 ▲

2 -

Europe 39,147.8 3,250 47,987.1

# of

Deals

United States of America 44,580.0Canada 6,686.5 310 5,017.3

199,791.9▼

2,950.9

United Kingdom 10,237.5

366 ▲

0.0

Brazil

▼

320.8 24 ▲

1,256.5 126

185-50.0

Worldwide 189,583.3

2,540.4

Venezuela

189

Australia

Thailand 907.4

China 56,099.0

2554,429.7

---

-18.4-36.237.8

6.3

Americas 55,096.2 2,524 61,533.2

4 3

1,964 51,613.3

-

147 ▼Mexico 560.8 21

Bermuda

5,727.6

545

Denmark 928.1 87

Spain

Netherlands 5.6-42.6

-7.6151.3-28.6

1,426.5

1,356.31,287.0

Poland

Africa/Middle East/Central Asia ▼

500.0 1-

1,568.2Finland

44

303 5,796.81,299.8

302 1,323.6

114

293

66 648.8 ▲

69

616

87Singapore27

48 652.18,642.4

105 2,480.7

▲

▲

46

2691,016

144

▼▲

▲

▼1481,160.6 124 461.8

2,362.1 531,359.1

Republic of Ireland280Russian Federation 1,223.2

-1.2

-36.17.8Asia-Pacific (ex Central Asia) 80,969.3

54 1,171.22,691 2,43575,123.7

20Israel 1,147.3 36 1,009.788South Africa 748.9

3539.2-7.6

13.6

224 3,801.5

1,206

644

98Malaysia

Jan 1 -Mar 31Announced Mid-Market M&A by Target Nation Up To US$500m

4,114.2 283238

Region/Nation

1/1/2016 - 03/31/2016 1/1/2015 - 03/31/2015 % Change

in Rank

ValueRank Value

US$m

57

19.1-20.0-22.4

-7.1-11.5111.6

12.832.7

▲

291

Indonesia 1,115.0

9,412

2,518 ▼

117 1,016.6▼

▲110

9,351.0

1,992.8 ▲1,767.4

Worldwide announced Mid-Market M&A deals valued up to $500 million (including undisclosed value deals)totaled US$189.6 billion for the first quarter of 2016, a 5.1% decrease year-on-year.

Estimated global fees generated from completed Mid-Market M&A activity reached almost US$2.8 billion for thefirst quarter of 2016, according to estimates by Thomson Reuters and Freeman Consulting.

The Asia-Pacific (ex Central Analysis) region (by target domicile) led the market, with over US$81.0 billion ofannounced deal activity, representing over 42.7% share of the market.

The European region (by target domicile) led the market in deal count, with 3,250 deals for the first quarter of2016, representing 34.5% of the 9,412 deals announced worldwide.

The Real Estate sector comprised 14.5% of announced value, followed by High Technology and Industrials, with13.4% and 12.4% of the total market, respectively.

47,121.36,322.95,920.5

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

$0

$50

$100

$150

$200

$250

$300

# of

Dea

ls

Ran

k Va

lue

(US

$b)

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

14.5%

13.4%

12.4%

11.2% 10.3%

7.8%

7.1%

6.5%

5.8%

4.9%

4.7%

Real Estate

High Technology

Industrials

Energy and Power

Financials

Consumer Products and Services

Materials

Healthcare

Media and Entertainment

Retail

Consumer Staples

Telecommunications

1


* Source: Thomson Reuters/Freeman Consulting

77.0100.0

8.792.993.732.5

100.021.1

100.0

48.491.036.252.510.8

100.013.198.7

91.948.9

51.133.3

Jan 1 - Mar 31Worldwide Mid-Market M&A up to US$500m by Target Nation Region

41*

11

Deutsche Bank

KBS Corporate Sales LtdBDO

BCMS Corporate Ltd 38*14

28*5

▼-100.0947.7

5187.916

34*

1,414.5 25 84.4 ▲0.0 - - -

587.9

Lincoln International

CFI

7

41*

-

▲

▼

CITIC

13

-5

14

13 4 ▲13


33

31*

▲La Compagnie Financiere

▼

34* 16*

31*

189,583.3

10

830.213 ▲-

33.2

China Merchants Securities Co

Industry Total 9,412

31*

41*

34*

38*

2,284.0

26*

6

Macquarie Group

Bank of America Merrill Lynch 26*

-84.4

205

-14

44.6

-21.1

UBS

Moelis & Co

58*

26*

21* 27 21

▲

▼

169.9

8Barclays 24*

▼-4 ▼

19* 2,595.4BNP Paribas SA

31* -1

▲

Evercore Partners

Raymond James Financial Inc45.5

19

20RBC Capital Markets

Baker Tilly International

463.0

15

226*

China International Capital Co24*

19

602.3 54

28

4518

-21 ▼ 3,670.5 -39.9▼18

Ernst & Young LLP

- -23.0

48.4

▲

21▲24.4

3

JP Morgan

Citi 16* 26 25 2 ▲

7

2,297.1 12

▲32.9▼ 37.7▲ 5,812.0

31 -3 -87.3-

9

25 ▼-78

12*

▲

10.2

▲

Deloitte 15 4 27 ▼

16

21* ▼-52.8 13

26*

75.3

104.3

5

Morgan Stanley

▼ 240.2

-21.2

.728

45.62,649.6 9▼

36.6

53.4

▼

▼3,799.6

-73.8

▲-

▼-31.0

30.51

12*

5

▼

2311

3,832.1

▼▲

-32

2265.0

Credit Suisse

▼ 830.8

41.215

19*

Jefferies LLC

71,759.9

2,053.1▲20

15▲177*

▲

▲

▲

38

-45

1

28

▼▲20

16.965.3

▲

7.840

Sumitomo Mitsui Finl Grp Inc

▲ 535.6

18.8

▼-14.8

-10.3 44519

2031

46.6-11

▼-

23.9

▼

36.6

29.7▼

52*37* 22

▲

34

1923

10 ▲▼

-

Houlihan Lokey

18

▼

▲

48.12114.7

1,208.2

89* 162*

60

61

99*

61.5

Worldwide Estimated Mid-Market Investment Banking Fees by Quarter*

35.1

28.0

82483*


6.4

▼-

▼

10.4

.1

-

0.0

▲

14.3

9.6 48

9.4

453*

7.5

17

▼-1915

15

-3 -

-

-5.1

41*

2 ▲12 412 12 ▲11 2 ▲11 -2

1.1 201* 100.05.8 71* 59.25.2 83* 100.016.3 30 47.2

.6 268* 66.7

463.7

Source: Thomson Reuters/Freeman Consulting

226.1 - -28.4 ▼1,558.2 24 135.8

49* 28.25.5 77* 100.09.4 49* 47.0

▲

-

-33 100.6

-7

0.0

68*

Piper Jaffray Cos

100.0

▲

45.3

5.3

14-

33

3.9.2

7.1

16519.3

-

1.6

41*

▲

13

34.2 - 34.2 ▲1,093.1 - -8.9 ▼1,853.9 18 4.4 ▲

- 587.9 ▲9.4 - 9.4 ▲

12

8 ▲13

Southwest Securities Co Ltd 38*

▲

*tie

100.0

100.0

2,815.0

100.0▲

▲14

▼

6415

39.1

34* 89*Daiwa Securities Group Inc

100.0

1,971.873*

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

Worldwide Mid-Market Rankings (MM1)

100.0

93.35 1

-69.61,269.5

12 38 ▼-6 ▼39

-22 ▼ 1,743.0 21 17.8

2,092.8

1,326.6

3,903.8 354

19.9100.0

100.055.740.0

11 10 ▲

123.8 - -79.9 ▼170.9 - 124.3 ▲356.5 - -10.3 ▼

.9 243* 100.0

▼

▲

51.926.7

9

35.123*30.2

-63.3

224* 11

80*19

-62.9

▼

1,363.8

▲

-69.3

1,047.3

1,844.82

17

21

8.9

-

1,269.3

▼1

487.6

-

100.05.8 71* 100.011.4 38 100.0

53.1

-

16

15▲

31*

-9

24.6

100.0

12▲

28* -2

-1

39.9

19▲37*

2,883.3▲

91.1146.9

18

14

-3 ▼

5

▼

2,640.0 10▼-128*

45*35*

55.1

5.4

-22.5-29.8

▼

-62.0▼8

-13

▼

-

270.8

-23.96* 7*

Advisor 2016

Imputed Fees (US$m) †

40Fees Rank

Rank Value per Advisor (US$m)

Rank Value Rank Value2016Change in

4,533.9 2

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

# of Deals per Advisor

Rank

40 -5

1Financial Advisor

KPMGDeals

6*32

71 -17.9Rank

17 ▼

PricewaterhouseCoopers 3 1

Mizuho Financial Group -1 ▼

2016

US$m

59

2015

Jan 1 - Mar 31

Exp (%)

** Fee

113.8

IMAP

111.8

16* 3

11.1# of Deals

2Rank

9

23* 3030

12*

5363.9

17

81.0

363.5

▲

13.4

Clairfield International 21*

7*

3,250.910.1

386* 19

-40▲

▼▼

6

-81.1

5 13*Lazard 4 11

30

1,274.0

103.7

▲

Goldman Sachs & CoGram Capital

-12

146

9.0

16*

▼ -

4 43.834.8

5

7Rothschild 254

Nomura 10*

22▼

▼

-67

1,915.5Change (%)

10*

-590

† 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.

GCA Savvian Group CorpMaxus Corporate Advisory Inc

68*114*41*58*73*

-68*49*52*

114*73*

# of

54.814.9

6

10

28.4

4

22.5 242

48.9 8263*

45.558

M&A International▲

11

41*41*41*47*47*47*50*50*50*50*50*50*

UniCreditN+1DC AdvisoryPlutus Consulting Co LtdCredit Agricole CIBRSM Corporate Fin LLPWells Fargo & CoHuatai Securities Co LtdBMO Capital MarketsLivingstone Partners

341*

-1 ▼11 6 ▲11 3

$0 $50 $100 $150 $200

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

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


410.013 ▲

2

4


-5 -

363.0

Financial Technology PartnersAlvarez & Marsal 36*Deloitte

Industry Total

2.1

▼

PNC Financial Services Group23* 6

-50.0

*tie

71* 4 2 ▲37* 4 -2

Clairfield International 22*

7* -4 36.0▲

102.0

▲

-62.2

96.3

8

37*

13.0

- 6

-

44

-

0.0AGC Partners 31* 37* -15

▼Citi

9

▼

▲

-8 ▼

-75.2

▲

9.0

19

166.7

20*Deutsche Bank

6

▼

6

0

▲

71* 24

9

185.0

Stephens Inc

Moelis & Co

Stifel/KBW

04

10

PricewaterhouseCoopers 22*

22*

21.3

-

-

26.3 9

.6

3*Morgan Stanley

4

▲

Evercore Partners 3* 19*

Piper Jaffray Cos

Rank

13*

▲

14

▼3*

2

100.0

Rank

13

2016

1

Rank Value

-

-32.9

0.0

133.7William Blair & Co

▼6

31*

-9 ▼

9

5

5

4


The Braff Group 7

7*

40.4

318 23.7

37.5

Rank

12

Goldman Sachs & Co

7

16

11152.6▲

-

▲

-7 ▼

- -

819.3

96.9

1


▼

▲

-11* 1011* 16*

2,158.3

2

540.9-7

10

1

3,497.314

-8


3*

Houlihan Lokey 20 ▲1,585.2

20162015

-21 ▼

▼

3

-5

46

763.8

-

1,588.3

▼

3.0

14

-

▲-

Fees


-2

14.1

1

-65.8

360.0

457.1 29

3.1

1,196.9

- - -4.8 36 82.8

107.9

22

5.73.0

-

63*2.0

-

6

36*

-3

-

0.06

36*36*

36*

31*

Cain Brothers Co.

31*

Rothschild 36*

22*

14* 24.9-60.5

Prairie Capital Advisors Inc

--

-

1722*

▲

▼▼-1 ▼

-

▲1,000.0

15.60.0 -

-13.644,580.0

- - 1.4 75*

69*100.062

57.0 -

26

20.4


US Target Mid-Market Rankings (MM2)

63.3

3.0

1,131.0

-50.4

1,541.9

▼

100.0

16

100.0

37.4

7

18.3

7.8

16.8

13*

27.7

20.9

16.3 2316.8

101*

100.013*

29

63.6

4

100.026.4

3.6

27

38.112.4

100.0

2,159.4

-614

2

7

Jefferies LLC

JP Morgan

5*

21.9

24.159.5

Deals

158.7

1,873.62

3 ▲

# of

42.7

5

▲

Rank

-

1,567.7

Financial Advisor

Barclays

.5

79*

▲

Robert W Baird & Co Inc

11

20*

100.0

18*

15

1.2

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

34.9

57.3

8.1

▼

▼

9 ▼

▼

-1

-2.7

1,208.2

▼

3*

▼

9*

▲

▼

463.0

Change (%)

48.9

Change in

# of Deals

6

Exp. (%)

Advisor 2016 ** Fee

US$m

▲

-77.00.04

UBS

3*

-

1.5

20*

6

19.8

85

6

658.9

32*

10

1,049.5

10.0

-15Credit Suisse

- 37*

19*

KPMG

32*

Wells Fargo & Co

823*

-36

▼

-0.022*

56.0▲

Cascadia Capital 36* - ▲

BMO Capital Markets

Duff & PhelpsBank of America Merrill Lynch

Lazard

16.7

11.3

-9

15

▼4

31*

Generational Equity

Oppenheimer Holdings Inc

28.3

2.0

3

7

▼

▼-

11*

-

-78.6

0.0

117*

43*

5*

▼

11*9 -13 ▼

36*

1,965

23*

14* 9*

▲- 4

-10

36* 43*

4

14*▼

1,582.716*20*

-63.4

-

14* 2

18* 9*

▲22*

-

22*

4.521.3

100.0

79.1


63*

52*34

12.1

100.0

29.7

24

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

▼

56*

-2

27*

27*

43.74

16

342.0 37 -79.0 ▼ 24.4 10

37.8

100.026.8

20.4

▼

-▲

- -0.0

-

821.5

▼ 217.7

1113* 12

▲

-2

18 -32.1

41

32*

100.0

3.2

100.0

2.0 10.263*

106*.5

52*48*

▲

8

474.2 25

-

814.6

106*20.5

-1

32* -2

2

19

-

5 1,711.9

-

-

56*- 278.1

29.0

100.0▼ 47.2

3

▼

Macquarie Group

-24.812

▼

-▲

Jan 1 - Mar 31 22*

36*

453.7

-

27.5

100.0

16* 4 -8 ▼-4

500.0

15

-

36* 15 4

71*

--

50*

22* 32*

71* -0.04

100.050.0

▼

100.047.3

54.9

100.0

Raymond James Financial Inc

▼

-

-43.7

4

6

Chartwell Financial Advisory

RBC Capital Markets 9* 19*

Sandler O'Neill Partners

PJT Partners LP



▼

-

8

48.1

2

-

-


▲

100.0

Jan 1 - Mar 31

11* -1 ▼14

▼463.7 - -2.2 ▼

100.0

100.0100.0-

-

-

20

0.0

0

11

Rank Value

Boenning & ScattergoodNeedham & Co LLC

-553

-

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

15.0%

14.9%

14.4%

13.3%

9.8%

8.4%

7.5%

6.7%

4.7% 2.3%

Energy and Power

High Technology

Real Estate

Financials

Industrials


Healthcare


Materials

Retail

Consumer Staples

Telecommunications

3


-2 ▼10* - -

255.0 6 86.8 ▲3* 1

Industry Total 231 -97

-3 ▼7* 1

▼Goldman Sachs & Co

Santander 16*Jefferies LLC 16* - 1 1 ▲

1 -5

Latin America Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31

0.0 10* -

37.0

-

--

3.4 01

-

110*

1

-

--

22

2.48.3

7* 312.3

1 55.6100.0

16*

-

2-

-

14

20*

.1

.5

16*

10*

▲

100.0

100.0100.0

- 10*-1

10*

Latin America Involvement Mid-Market Rankings (MM17)


Clairfield International

Rank Value2016

64.3-

100.0

3*

3*3*

Morgan Stanley 7*

4▲

3

- 52.0

Change (%)Rank

320.9

5

4

100.0

2

4515.6

▲

-


Fees

9.1

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

3*

Rank

1

Jan 1 - Mar 31

0 -2

▼

5.5

1

8

20.0

7

Artica Participacoes e Assesso 2 9

0

152

Arab Banking Corporation

Exp. (%)

** Fee

-▼

▼

▲

-

-

91.8

Advisor

4.510*

-

-

0.0

*tie

16*16*

-0.0 10* 100.0

100.0

.5

4.0.5

0.010*

0.0

2016


8

▼

# of Deals

4


-44.6

7*

Rank Value# of 2016

▲

6.1

1.7

▲0.0

-

5.4

2

-- 3.9

1.0

-

0

▼

▲

-

PJT Partners LP

100.0

-

-

7

-4.5-

28.3

16*

2

100.02.0

▲

-

7*

16* 10*

84.6


100.0

2.0 16* 100.0


61.3

16* -1.5 16* 12.3

7

1

▲ 0.0

- .9▲

1

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.

3,286.2 -29.8 ▼

20*

16*

95.0


Lazard

1

3*

Financial Advisor

Banco BTG Pactual SA

-

Itau Unibanco 7

10*

10*

-9.3

5*

7*

2 ▲

7*

10*

2-2

Greenhill & Co, LLC

4

535.6

▼ 3

12*10*

▼

Change in

100.0

1.5

5*BR Partners

7*

7* 1 -

-

-8

-

-23*

0

27*

0.0

APOYO Consultoria SAC

12.3

10*

20*

20* 1

IGC Partners

Banco Bradesco SA

Credit Suisse

2

1 -0.0

▼

PricewaterhouseCoopers

165.9

7*

-4

-10*

Deals

1

3

Citi

16*

1

2

Rank Rank

10*

20*

1

10*

0

-

1.1

2

IMAP

BNP Paribas SA

JP Morgan

-

128.6▲

0.0

-

-

16*0.0

-M&A International

-0.07* 375.3

Rothschild0.0

16*

--3 ▼

▲

BBVA -1 0.01 10*

-

Moelis & Co

1.0

2

20.0

US$m

-

10*

0.03360.0

0.0


1

20*

10*

10*

▲

100.0

40.9100.00

5

12*9

5.3

- 23*1

2

0

2015

-

9 -

50

100

150

200

250

300

350

400

450

500

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$20

# of

Dea

ls

Ran

k Va

lue

(US

$b)


26.1%

20.2%

13.3%

12.2%

10.6%

6.4%

6.1%

3.1%

Energy and Power

Financials

Consumer Staples

Materials

Industrials


Healthcare

Retail

High Technology

Telecommunications

Real Estate

4



SEB 50* 68* 5 1 ▲ 441.5 401.7 25 514.9 ▲ 5.4 50 100.0ACXIT Capital Partners 50* 48* 5 -1 ▼ 18.1 16.0 - - - 1.5 98* 100.0Canaccord Genuity 50* 33* 5 -3 ▼ 18.8 16.7 119 - - 4.1 65 100.0Panmure Gordon & Co Ltd 50* - 5 5 ▲ 47.0 42.5 - - - .4 265* 100.0

*tie

▲

10

9 -28.1

▼

8

▼

1.4

42*

72.7-

▲0.0

47.3

9

-79.9

8

▲

17*

41* 48*

-4

16Globalscope

37*

26*

▲

Industry Total

UBS

Houlihan Lokey

68*

Goldman Sachs & Co

Barclays

13* 6 -9

4

30*

Credit Agricole CIB

▲

▼

▲

34

1

▲

Jan 1 - Mar 31

14

54.5100.0

100.0

21*

-

113.7

▲

8 3 ▲

30*

3

▲

▼13

188.2

11

17*

-287

100.07.3

31.334

159.7

347.6

5

70.8

▲

66*

1036.8

41*

48.6

▲

-2

Rank Exp. (%)

▲

10

3

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

▲

99

-4

European Mid-Market M&A up to US$500m by Target Industry49.0

270.8 248.01,558.2

-

▼ --5 110

176.2

▲

100.0


110.2

31.4

7.5

163.5

7

Jan 1 - Mar 31

15JP Morgan 8*

BNP Paribas SA 6 1119

58*

-20.45.2

▼ 16.4

11

42*

356.5 319.48

14*

▼

5

-

33*

12*

1

13

13*

KBS Corporate Sales Ltd

Change (%)

▲563.8

▼52.5

Advisor

1

216.2

0.0

41* -7

▼

1 -40.8

7

▲

Societe GeneraleRBC Capital MarketsGlobal M&A

▲

-13.5

5.9 39*5.3

-

Rank Value per Advisor

Rank Value

▼

Citi

41*

542.1 12

0.0 0.0 - - -

8.1

-46.0 ▼

41*46*46*

1,289.3 1,156.7 10 182.1 ▲771.2 706.2 17 510.1

▲56*

44.3

493.4

▲

- 26.15 3 ▲

37*

100.0

50,122.9

Financiere Cambon

Evercore Partners

5 0

98*


Livingstone Partners

437.0

HSBC Holdings PLC

14Altium Capital Limited

DNB ASA100.0

46* 87* 6 3 ▲56*

1.5

0.0

0.0

16.5100.0

72*-

- -395.9 361.1

3

Jones Lang LaSalle Inc 280.033*

87* 7

8.7

▲

Jefferies LLC

45,421.2▼

13

100.0

99

37*

29

-

▼

-

--

▲

▼

▼

-

0.0

974.7

4.0

11

-11,046.4

-4

21

960.5

48*

10

312.5

9

20*

26*

20*

▼

7

10.5

340.61,491.1

▲

33*

13.0

30

-117*

46*

3,684

2▼ -

▼

▼

56*

-82.4

-72.8

5.3

-3.8

-11.9

33*

8

30*

1,634.515.3

15.0

8.2

16.420*

17*

3.7 70

▼

37*13▼

30*9*9

9

104.1

475.5

3.0

396.9

▼

-4

3

-

12RSM Corporate Fin LLP

▲

-

▼

Rank

CFI

0.0

-

5.1

5.8

3

18

3 51*

14*

-62

100.0

96.5-

135.8

Lazard

12

5.824.7101.2

7

4

16

6

1,031.0

26*

La Compagnie Financiere6.9

-72.8 ▼

▲12

** Fee

95.6

6

100.0

44*

747.0

-74.2

124.314*

-80.1

155.7

100.0

100.0

1,838.683.6

33.5

▼-92.38

37.712

25

6.7

351.5

226.0

Credit Suisse

DC Advisory

▲

30.0

5

-41 ▼49

46.0-10.3

7.1

▲

1,125.0

55

383.9100.6

▼

▲

20162016

Financial Advisor

2016

0.0 0.0

-

21

-

Deals


100.0

▲

2

1216

-26

78.5

-5.6

6

5

33

9*

4

1,181.2

4

13

▼

▼

2015


91.1

8*

8

▲

Rothschild

# of Deals


Fees

3 56

▼

100.0

2310.5

18.5

1,259.4 1,136.4UniCredit

23*100.0

18.1

192

Baker Tilly International

-2

3,239.2

6.1

▲

15.532.6

- 62.122


40.1

0.0

Nomura

▲-10-3 38

Ernst & Young LLP

BDO

-▼

▼34.2-

37.33.0 72* 100.0

342.3 - 72.1 ▲30.0 27.7 - -90.0 ▼

263.8 239.1 -

6

55

Rank

KPMG

M&A International

Natixis572

6.1

9.6

27 -

▲

▲

-

▼47.4

▼


Bank of America Merrill Lynch

27* 13

12

100.0

-24

20

1,667.4

8

▼

▲

5.3

0

1,338.6

183.6

-69.7

33*

20*13

14

10*

Kon SpA

54.80.0

▼

-16

▲

11.4

73.8

4

▼

1,218.3

123.8

4

18

13

5.5

170.9

14*

95.935

Rabobank NV

37.2IMAP

N+1 14* 56*▲

4

100.0

100.069

Deloitte

23* 5

31.6

12*15

8

13*Morgan Stanley

▲

7

32

57.0

12

-

54

100.012.3 15* 100.09.7 24 51.69.2 26* 52.01.8 91* 100.0

-109* 5 3 ▲

377.950*INGPeel Hunt LLP

56*


1,222.3

50*50*

0.0 0.0 -

73.611.9 17

Numis

Nielen Schuman BVCBRE Holding SAS

US$m

1 ▲109*

9.2

-

-1,313.1

Rank Value

10*

Euro mil

1,460.9

830.2

1,327.92,588.3 2,341.9616.2

2,935.1

168.0

9.9

43.2

1,879.2 1,705.5 ▲521.1

44* 7 0 -

-89.7


# of Change in

4

Rank

31-

-14

BCMS Corporate Ltd

51*

European Involvement Mid-Market Rankings (MM3)


-24.9

100.0

-

96.4

-0.0169.4

91.0

374.619.8

▲51*15

69*11

53.1

122.8

-

10.2-

5.9

41.1

9.2

48*

100.017.5

5187.9

▼

100.0-

51.9

-

▲

-50.0

113.0

187.058.6

10.5

3

▼

1,405.7-68.6

20*-

60*-

▼

48*

6

6.0-

5.5

22.8

116.0

4.5379.5 -

-29.7

▼182.5

28.1

59.1

109* 6 4 ▲▼

20*

120*

12

44*

14* 30*

▼

-4

5

26

891.2

26* 33*

30*

1027*

25

30* 23*

26*

87*

-15

-4

33* 1 ▲30*

6

10

37

-

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)


17.8%

12.0%

11.2%

10.8% 9.6%

8.9%

6.1%

6.1%

5.6%

5.1%

4.3% 2.5% Real Estate

Industrials


High Technology

Financials

Energy and Power

Healthcare

Consumer Staples


Retail

Materials

Telecommunications

5


** 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.

34* 7* 3 -9 ▼ 313.6 217.5 15* -75.5 ▼ 8.0 11* 4.6

0▲17*

▲

▲

▼

4 ▲

-

17.1

4

-

Houlihan Lokey

CFI

Rank

11

12

RBC Capital Markets

Ernst & Young LLP

2

885

WH Ireland Ltd




JP Morgan

Peel Hunt LLP

Lazard

Numis

M&A International

KBS Corporate Sales Ltd

▼

--

Rank Value Rank Value

4▲

▲511.6

33.7

25

11

-

-

399.2

0.9▼

44*

8

0.0

▼

6

-68.6

4*

2

▲

▼- -

.1

-

-

44*

72*

** Fee

-

HSBC Holdings PLC

▼15.6

-

Deals

0.0

-

1

5

8

303.2

205.4


424*

-96.4

FTI Consulting Inc

Catalyst Corporate Finance24*

2

Barclays 9.8

80*.5

Jan 1 - Mar 31

▼


DC Advisory

RSM Corporate Fin LLP

Industry Total

KPMG

9*

--

BDO

-84.7

44*

12

-21.2

913.4

28*1

-

24*

12.1

4

▲3100.0▲

-

4

-3

100.0

▲

463.3

843.8

5

-

28*

-

5

17*

8.1 5.7

-

100.08.3100.0

100.0

0.0

-

-21.7-1.8

.4

100.0

37.4

568.4

-

2.3

▲

-104

1.4

100.0

24*

25*

3

4 4

UK Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31

100.0

72*


Societe Generale 34* - 3 3 ▲ 737.6 510.3 5 - - 5.0 22* 100.0William Blair & Co 34* 72* 3 2 ▲ 115.9 79.5 - - - 6.2 17 100.0Goldman Sachs & Co

44*

100.0

613.4

23 - -

231.3.5 80* 100.0

-37.90.0 0.0

0.0

- -23.0237.0 165.7 21

42.55*

25*-

-220.0 150.8

17,786.0

- -85.1 ▼277.6 17 -16.1 ▼231.5 161.9 22 -44.1 ▼127.0 89.9

327.0

2.2 43* 100.08.9 9

6*

47.0

▲ ▼

▲

17*

72*

100.0

Fees

116*

1.7

11.9-

5.2-68.6

4

BCMS Corporate Ltd

8

216.9

-26.5

9*

Baker Tilly International 3* 6

6

2*

13*44*10*

14.9▼

Evercore Partners

1 ▼

72.1

437.0

55*38

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

50

▲

▲ 54

1.33.3 -24*

24*finnCap Ltd 2.8

12.65.8

3IMAP

25*

521.511


▼

250.1 175.0 4.5▲

3

1

10

-64.4


.8

▼

46.4

1

▲▲1

182.5 128.60.0

25*

-

5

5

▲ -28.6

738.9

423.2

19.3

-46.66.4

10

US$m

43.011

-

12

5

89.9

122*

▼

6

▲Change (%)

-46.0

-3

13

24*

10

14.9

1 22.5

59*100.0

Change in

13*

2.2

2.315.6

0.0 -

1.2 3.2

2016

7*85.6

0.0610.7

17*

3.9

60.7

34

3

100.0100.0

10

0.0

GBP mil

351.2 242.123.6

2015

-

22*

4.2

43*

9*

▼

6*

9

▼

9

4*

7.5

100.0

36.9

Credit Suisse


Financial Advisor

100.0# of Deals


7.5

1

▲

34.2Rothschild

# of

6.0 1916.0

-

▲

15*

Rank

47*

31

21

-

-

-16-4

12*

UK Involvement Mid-Market Rankings (MM4)

14

Advisor2016

39

6

2

41*4

32.3

10*7.7

3*

-Rank

1517*

8.0

▲

Rank

-

11*

-9

13*13*

▼

-9.7

241.2

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

10

100.0

49

Panmure Gordon & Co Ltd

--

1

4.5

1,112.1

0.0

6583.9-

30.4

0.0

17*

775.3

-

2016

3

-

270.1

100.0

100.0

100.0

-

-8

100.02.579*

▲

Exp. (%)

91.7

17*

100.0

850.0

235*17* 5

356.5

▲

-9

▼

13* 2.0

8.1

100.0

24*

▼ 0.0

12,391.4

9.9 5* 53.5

-1 ▼

*tie


12

263.8

234.3

7▲

-

9.9

0.0

▲

8 ▼

Altium Capital Limited

22.4

27.8

17* 44*Livingstone Partners

9.7

4

100.04

7-

24*

14 343.1 ▲31.3 21.9

▲

-

33.1127.0

202 57.6

0.0

▲▼▲▼

4

▲

5

-13

▼19

149.6

364.6

-

▲▼▲▲▲ 0.0 0.0 - - -

▲

▼

34*34*34*34*

-▲▲

30.6 21.2

195.2

▲

4 876.7

184.4

17*

3*

3

2

▼6*

- - -0.0 - - -

34*34*34*

246.3

4

-

7.8 5.4

-

▲▼-

3 272* 3 235* 3 0

-134.1 95.0 -

0.0

Jefferies LLCInvestecJones Lang LaSalle IncMorgan StanleyUBSCenkos Securities PLCLincoln InternationalNatixisN+1GP Bullhound LtdCitiLEK Consulting IncGroupe BPCESpencer House Partners LLPDeloitteSmith Square Partners LLP

10* 4 -572* 3 228* 3 -144* 3 128* 3

24*34*34*34*34*34*

- 3 3

34*34* 3 3

72* 3 2

34*

17* 3 -435* 3 0

-1- 3 3

28* 3 -172* 3 272*

20 22.51.3 55* 100.04.3 30 100.01.5 52* 100.0.3 119* 100.0

1.0 62* 100.04.0 33 31.5

76* 77.8.5 80* 100.0

- 1.0 62* 100.01.0 62* 100.0- - -.7

▼

▼-

0.0 - - -0.0 0.0 - - -20.5 14.0 58 -98.1 ▼

131.2 92.3 - 36.8 ▲

- -

-

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)


24.6%

13.4%

11.6% 10.7%

9.6%

9.2%

7.1%

4.3%

3.3% 3.1%

3.0% Real Estate

Financials

High Technology

Industrials


Consumer Staples

Energy and Power

Retail

Materials

Healthcare


Telecommunications

6


14*

14*


▲

4

46*

▲



171.70.0

Bryan Garnier & Co

3

20*.5

▲

▲

Clipperton Finance SARL

-3

0

1

▲

-

Philippe Villin Conseil

0.0

8

9*

9*

108.8

-

2.0

-

55*

Rank

1

-

1

-3

3.0

7

10

-Lincoln International

13*

49.0

6.6

Natixis

# of

▼

Societe Generale 14.9

Euro mil

3

26

4

▲7

320* 1

127.6

.9

100.0

-99.410

232.5

5 ▼▲

14*

4

1.3

CM-CIC Conseil SAS

162*

13

0.0

-


218.1

6

1,405.7

-

2*32.4

0.0

312

.6

.9

56*

100.0

0.0

69.1

51.8

100.0

Rank

8*

91.0

16

0.0

▲

6

▲


3.1

▼

-

French Involvement Mid-Market Rankings (MM5)

Advisor 20162016 Rank Value ** Fee

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

20*3

14*

-1

▼

7

71.8

▲


0.0

▲23*

Jefferies LLC

190.720*

9,267.8

4

1

1.0-

1.1

24*


-0.0

0.0.65*

42*56*

100.0

92.3

228,403.7 4.0▲

-▲

3 2 0.0 0.0379.9

0.0

19 2.1

13

▲

▲

-

56*

20*

100.0

.9

-

20* 3- 1.0

31*

100.0

203.7

56* - -

100.0

6.6 41

UniCredit

Canaccord Genuity

-

0.0

5

▲1

59*3

IMAP

*tie

French Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31

Global M&A

82.54

0.0727.9▲

598.5

9*

4


-

-

▼

5.0

7

100.0Acticam SAS

10.9

2

100.0

52.1

12.2

26.3

Change (%)

3 5187.9

▲Lazard 16

1,821.2

Jan 1 - Mar 31

809.5 725.8 4

Change in

-46.9-38.6

2

614.2675.0

747.0830.2

▲

▼47

-

0.0▼

5*

▲

▲

138*

6.5

100.0100.0

135.8

205.0

1

2.7

▼

-82.4

0.0 0.0

11*

13*

4

5*

9

5-

1

2015

0.0

652.3▲

-

11*

14*

0

- - 42*

8

3

-

23*

655.5

46* 3 0.0

4 16*

8

3

-220*

2

42*

1.4

8*

▲

20*

98

20* -

2.7

20*▲ 7.23

100.0100.0

▲

3

100.010.4▼415.1

16

CBRE Holding SAS

0.0

285.4

12

63.5

3

15 -

30*

67*

3

20*

-

46*

-

▲

100.0

24*

-

▲

3

DC Advisory

727.9 655.5

100.0

-

Fees

7

Rothschild

Industry Total 828

-

6.04

- -

14*

3

10* -8.4

-

3 ▲ 0.0

▲

12.8Bank of America Merrill Lynch

97

46*

-

Altium Capital Limited

▲Credit Agricole CIB

Financial Advisor

UBS

4.0

▲ 222.8

Financiere Cambon

1.0

20*

▲47.1

23*5*

-Credit Mutuel SA

0.0

31*

46*

4

Deals

1

-2

54.8

471.7

1,652.7

5*15


Rank Value

4.3

US$m

BNP Paribas SA

La Compagnie Financiere

100.0

5.3

31*

2 ▲

0.04

-


114.0

1,558.2

62*

▲Jones Lang LaSalle Inc

KPMG

HSBC Holdings PLC

M&A International

2016

Rank # of Deals

17*13*

31* 1

4

25


Exp. (%)

21.7 1.5

27.8

5

-

55*

-

3.5

16* 100.0

100.0

58.84.0

- - -

56* - -

5672.6

100.0

62*

525.0

0.0-

--

55*-

Rank

.7

-

-

-

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)


24.9%

15.6%

14.4%

10.0%

8.7%

7.7%

5.5%

5.4%

2.3% 2.0%

Real Estate

High Technology


Consumer Staples


Industrials

Energy and Power

Retail

Healthcare

Financials

Telecommunications

Materials

7


Altium Capital Limited-

GP Bullhound Ltd

0.0 --

100.0

15.3

14*

-

17.9

15.2

100.0

14*-

6,912.0

-2

2ABN AMRO BankDeloitte

perspektiv GmbH.7

29*

Goldman Sachs & Co

-

488.0 2


3*

▼-2

▲


2015

Financial Advisor

23*

▲

Rank

3

Deals

3*

1

8

4

Concentro Management AG

1*

5*

11*120.1

28

2.0

14*29*

42*

0.0

454.5

-

362.2

-14* -

14*14* 8*

.5

▲ 0.0 0.0123*2

-

0

100.0

10.02.0

.2

-

23*

40* ▲

-

38

29*-

▼

1.5

-

5*806.7

140.0

8.8

21*

20162016 # of

Exp. (%)Fees

IMAP

-3

421*

10*

▲

Advisor


Change (%)

5

Rank Value

Rank

1*Rothschild

Rank

6.8

Change in

Lazard


14*

14*

14* 40*


21* 1.0

21*

-26.0


Credit Agricole CIBAllert & Co GmbH

100.0

10

21*

125.0

0.0

Rank Value

-

100.0

100.0

-1

IEG-Investment Banking

-64.9

Rank

-

23*

10*

- 100.0

-

.521*

14*

18

415.0

39

-

100.0

100.0100.0

100.0

-

JP Morgan21*Globalscope

10.0 20 19

.81.5

1.2▲

4

3.4

40.5

1.0

-

1

-

20*

1.7

▼

100.0

Jan 1 - Mar 31



5*US$m

ACXIT Capital Partners

4

-

3 0.0-

▼8*

28.7Mummert & Company

--

0.0

100.0

** Fee

5*

3

71

▼-

21*

-

German Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31


Global M&A36.0

15*

0.0

▲▼

909.4

0.0

0.0

10*33.0

14*

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

21*0.0

0.0-

-4

1 ▲

0.0

100.0

73*

▲2.5

3.4134.0

10*

3

20*-

5*14*

7324.0

-12

20

0.0

21*0.0

-

459.4 419.5

German Involvement Mid-Market Rankings (MM6)

1.0

11.0

-100.0

3▲

21*

-

KPMG

11*

- 4

# of Deals

2016

15 -65.5

▲

2

2208.1

21*

324.6

0.0

0 -

-2 0.0

13-4

4

18.1 16.0

2.5▲

-

31.3

1

-

0.0

▼

-

110.6 ▼

1

▼

▲

0.0

3

4


19BDO 11*

529.5

5*

--

-21*2

46.7468Industry Total 163.7

▼

▼

-

0.0-

100.0

100.0100.0

3* 43.9

5*

20*

▲

836.3

1.5

3.4

2

BNP Paribas SA

-42*

23*

0.0 0.0

10* 23*

-3

.4

2

3

Commerzbank AG

-3*

*tie


-▲

-

-110 ▼

-▼

0.02 -1

2 ▼

2


100.0

0.040*

UniCredit

-45.4

23*

10* 3*

3*

14*

0.0

3

Euro mil

5.0459.48 419.5

0.0

-

5*

15*

▲

2

8*

▼

14*

2

3*5* ▲

15*

2

14* 40* 121

2

5

-

16.5

6,288.9

-

100

200

300

400

500

600

700

$0

$2

$4

$6

$8

$10

$12

# of

Dea

ls

Ran

k Va

lue

(US

$b)


34.0%

19.7% 10.5%

8.6%

6.8%

5.1%

4.3%

4.2%

2.8% 2.2% Real Estate

Industrials

High Technology

Healthcare

Telecommunications

Financials

Materials

Energy and Power

Retail



Consumer Staples

8


*tie

▼ 2.0 16* 100.0Jefferies LLC 23* - 1 1 ▲Societe Generale 23* 22* 1 0 -

0.0 0.0 - - - .5 31* 100.028.6 25.3 23* - - - - -28.6 25.3 23* - - - - -0.0 0.0 - - - .5 31* 100.00.0 0.0 - - - .5 31* 100.00.0 0.0 - - - - - -

361.0 325.0 10* -20.3

- 1 1 ▲Kobo Capital Ltd 23* - 1 1 ▲Savio & Partners 23* - 1 1 ▲Aquin & Cie AG 23* - 1 1 ▲

Philippe Villin Conseil

3

1-

0.0 28*

-

3

18.7

100.0

-

100.0

25*

Rank Value per Advisor# of Deals per Advisor

10

22

70.0

▼

Deals

4

361.08

4*

91.5

8.33.1

▼23* - 1Unione di Banche Italiane Scpa

.5 100.0

140.0100.0

93.7

103.3 17 - -19.0 17.5 25 61.0 ▲0.0 0.0

88.3

22*88.3

0.0

-2*

12

13162.1

- -

11

25*

-

2015

-

-78.5

2*

Italian Involvement Mid-Market Rankings (MM7)

-116.7

15*

655.5

-

0.0


5

▲

** Fee

19.728* 100.0

2016

# of Deals Change (%)

551.8

1,324.5

7

-▼

Rank Value

Rank

▲Euro mil

▲KPMGUniCredit

HSBC Holdings PLC

23* -

LEK Consulting IncBenchmark InternationalArche Srl

Deutsche Bank

- - -

--

27*3


PricewaterhouseCoopersLa Compagnie Financiere

-9.0.62

3.1

-153.3

2

-0.0 0.0 -

2016Rank Value

Leonardo & Co

27*

3.8

-


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

Fineurop SpAIMAP- Vitale & Co

27*

655.5

187.0 168.0

31*

15

Fees

▲8

-

1

-1 ▼

- 31*

4

Globalscope

Jan 1 - Mar 31

0.0 0.0

▲

CP Advisors Srl

22* -

214.2

0.0

.5 31* 100.0- - -

Ethica Corporate Finance SpAClairfield International

JP Morgan

0.0 0.0 - - -

-12.2

- -

23*

- -

0.01 ▲

45

▲ 80.8

BNP Paribas SA

146.9

-

100.0

0.0 0.0

1

Houlihan Lokey

2 0.0

31*

Vitale & Co SpA 23* - 1 1 ▲Emintad Italy Srl 23*

-

100.0

▲0

0.0

1

1

-

-

1 ▲

-

233.4

10*

0.0

100.01 -

21 100.0KippsDeSanto & Co

▲

23*23*23*

- -

Lazard

-

100.00.0 -

44.7 ▲

2

goetzpartners Corp Finance

-

▲

-

16*

22*


11* 1

-2

31*.5

27*

- - -.5

1 ▲

0.0CFI

Bain & Co

31*

-31*

.5

0.0 -

7.1

1 0Caisse Fed du Cred Mut Cen Est 23* -

Altium Capital Limited 23* 8* 28* - - .5

1.3-

- -

▼

11*

3

.5

▼

12 22*1.5

22*

22*

8* 1

5.0

1.02

▲

2

-

4*

1

Nomura0.0

-0.0

7

-9

2.7

-

1,465.0

727.9

.6

12.2 11.01,187.3 1,075.0

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

0.0 0.0 -

58.2242

DC Advisory 23* -

-

0.0

40.4

-

.5

Klecha & Co 23*

18* - -

4,620.6

14.30.0

Barclays -0.0-

UBS 23* 11* 1 -1 ▼Morgan Stanley 23* - 1

8.4



31*--

10.0

4.3

-100.0

31* 100.0.5 31* 100.0.5 31* 100.0

1.8

Industry Total

Banca Profilo SpA

100.0

23*CMC Consulting Boston Inc 24 100.0- -

100.0

28*

1

0.0

160.8

2.00

.5

1 ▲23* - 1 1

-

▲

4

▲123.8 113.0

18*3

11*

499.2

Change in

245

3

5,117.2

-

-223*

-

23*

▲1


3 --

17*

11* ▲▲

N+1

100.0

▲

2.6

4

100.0

5.6

14▲

- 100.0-

▲

Rank

-

727.9

6*

61.1

11*

3

22*

11*

444

8

3

22*

1


10*Financial Advisor

1.9

Mediobanca

Credit Agricole CIB

Kon SpA

702.613

2

123.8 113.0

Rank

Rothschild

1

.6

6*1.0

100.0

22*

-

5*

▲

3

2▲

3

17*

1 0 -

0.0

23*

23*

-

- -

0.0

0.0 .5 31* 100.0- 100.01 1

100.0

11*

23*

17*

17*

-

-

▲

23*

67.4

22* 0.0

100.0

Ernst & Young LLP

5

3

-

-

202 80.8

56

17*

727.9 -

▼

-

▲ 49.1

100.0

389.6

17*

10*

1

- .6

32

28* -

-

11*

6*

6*

1 ▲22* 1 0 -

- 1 1

22*


▲

11.8 2

-

-2

2

▲1

Advisor

-

100.0

82.5-

4.0

100.0

-

Rank

▲ 32.8▲

44.6

-

22*

▼

-

784.8

▲

-0.0 0.0 28* -

-

- -0.0

1

▲▲

3655.5

8*

17

-

2

Exp. (%)

Jan 1 - Mar 31

1.5

1 0 -

75.0 68.0 20 -

2016

2.1

-

-79.94

325.0470.4

100.0

23*

3

US$m

# of

▲

-1

4*

▲ 429.52 -

22*

-79.9

-11*

2-

6*0

440.0

21

2409.72-

▲- 1 1 ▲

22*

-

50

100

150

200

250

300

$0

$1

$2

$3

$4

$5

$6

$7

$8

# of

Dea

ls

Ran

k Va

lue

(US

$b)


21.5%

15.2%

15.1% 11.9%

10.0%

7.4%

7.2%

7.1%

2.7% Real Estate

Healthcare

Consumer Staples

Financials

High Technology


Energy and Power

Industrials

Retail

Materials


9


0

2016

-- 1 1 ▲- 1 1 ▲

11*

100.0

16*

-

12*12*

110* -

.5

10*

-

-5*

-

-

330.7 302.8

Rank

0 0

0

.5 23*

-0 0 10* - -0 0

0

16*10*

00

▲

-

2,222.9

Advisor

13-

77.2 71.0 5 -80.5 ▼0 0

10* - -0 0 10* -

12*

1.6

12* 0 10* - -

0

100.0

Lazard

8

▲

91.3

5*

100.0

5*-


.5

-100.0

0

.6

100.0

-

3.4 6

- -

-98 69.9

- 1

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

01

0

610*

-

Jan 1 - Mar 31

30.51.0

--

155

-

0

1 ▲14* 1 0 -

▼

.5 23*

100.012*12*12*12*12*12*

-

1 -1 ▼-

Cushman & Wakefield IncBanco BTG Pactual SACredit Agricole CIB


Citi

1 1 ▲Needham & Co LLCVitale & Co SpA

5-


100.0

-

1

12*

12*

-44.92,445.2

BCMS Corporate Ltd

100.0

14*-

-▲

-2

10*

43.13

Rank Value

296.0

10*

51*

2015

100.0.5 23* 100.0

JP MorganM&A International

Santander

-

1

-

0

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

3

Jan 1 - Mar 31

Rank

0

100.0

10*1 1 ▲14* 1 0

-

BBVA

100.0

KPMG

23*

-3

-5

5* 10*

-1

1*

21*- 1.0

Fees

3

▼ ▼7

4.6

▲-

1

2

12*

Spanish Involvement Mid-Market Rankings (MM8)First Quarter 2016 │ Mid-Market M&A Up To US$500m │ Financial Advisors


N+1 2

BNP Paribas SA

-12*0

1

1.0

0 -

10*-70.2 ▼

63.0 1.5

1.2-

GBS Finanzas SA

22

.6-18

1.0

1-

---

Natixis

-

1


5*

234.4

3

▲

-17

0

14*

-

100.0100.0100.0100.0

100.0

Deals

5.5

▼100.0

5

2


Noqca Partners

23*-


83.8# of Deals

21*Ernst & Young LLP


1.0

41

▼

10-96.3

1.9

3100.0

▼

-

85.2US$m

3*

▲Rank

** Fee

Exp. (%)

▲

-

Industry Total

Financial Advisor

▲

10*

11*Rank

Deloitte

-

-0

10.9Norgestion

-

15

12*

1Guggenheim Securities LLC

Deutsche Bank

2

0

2

12*

-

-

14-7*

*tie


57.9

5*

4

Rank Value

Strata Partners LLC 10*Credit Suisse

2

IMAP

Livingstone Partners-ONE to ONE Corp Fin SL

14*

0 10*

40.0-

1

2

1 23*1

12*

-

1

0-

00

2

258.3▲

-

28.112*

-

.5

00

53.0▼

16*

Euro mil

0

▼

0

-

10.0

▲

0

14*

100.0

2016

10* - -

5*

- 1 1 ▲10* - -

- 1 1 ▲- 1 1 ▲

10*

2016# of

▲

Change in

1.8 11* 100.0.5 23* 100.0.5 23* 7.6.5 23* 100.0

2.0 9 38.5

80.0 73.9 4 - -

▲

▲Change (%)

16*

16*9

1

22 -

-1

0 00 10* - -

0 0

-

50

100

150

200

250

300

350

400

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

# of

Dea

ls

Ran

k Va

lue

(US

$b)


26.9%

25.1% 13.2%

10.9%

10.1%

4.7%

3.3% 2.5%

Retail

Energy and Power

Healthcare

Real Estate

Financials


Industrials

Consumer Staples


High Technology

Materials

10


14*

6*

6

19*2

5

21*

-

8

14

149.75,415.8

243.1 ▲

4.4

0

3

▲

14*

9

--6 75.0 68.0 -67.4

US$m

2 19*-

0

4.3

3

5.4

316.7 4

41*

.5

05 18968.8

7243.8

-

37*


14*-

2347.2

▼

-19*

514.9-2 165.8

▲

5.8

-.5

116.1

3* 60*

3-34.7

30* -21

6*

Change in

1

224.2

100.0


25*-

-15

3

0 -

2

441.5SEB

Ernst & Young LLP

1.5159.77.0

17*14

29

44*

-23.4

-82.2

Rank

6*

33.5

▼

▲2.0

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

6*

2016

176.2

419.6

4

4*

1036.8

Rank

Jan 1 - Mar 31

1.1

3

37.7

▼126.7

9*

-9

5

-

Euro mil

-

▼

-13▼

100.0-

15*

4

M&A International

100.0100.09* 30*

72.73 56.9 ▼

3

272.0

10

0

120.2

Change (%) Fees

44.34

--

-

11* 04 6.2

107.9

▲

▼-

Carnegie

Advium Corporate Finance

Nordic Involvement Mid-Market Rankings (MM9)

2016 2015

Rothschild

DNB ASA

KPMG 4

44.4

8


100.0

9*

61.1

▼

16-

-53*41*

** Fee

34*

50.9

- -

7

▲

1


-

9* -

Rank Value

-2

Financial Advisor

151.6

▲


-

2

2.0 17*

5.314*

33

100.0

2-

Rank

Handelsbanken Capital Markets 9*

401.7

▼ABG Sundal Collier

14* 24.4

IMAP 1

Jan 1 - Mar 31

14*

100.0

459.7

5

3FIH Partners AS

6*

-

.4Bank of America Merrill LynchGlobalscope

148.7

-237.8 213.5

0-

0▲

2 15*

14*Jefferies LLC

0



-25* - - 1.0

Danske Bank- 2 ▲ 52.5 47.0

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

30*▲ 33.5 30.9 - -

2

Deals


53.0

1.0 30*

Rank

2016 Rank Value

11* 1

▼

.863.4

▲

6* -2

-

▲

Goldman Sachs & CoImpello Management AS

▼

12

▲PricewaterhouseCoopers

6

10*

2.7

100.02 0

14*19*

Barclays

Lazard

*tie

13

2

-25

.6

# of Deals

# of

-

19*

42.4

▲

-

0

2

Advisor


▲

0

391.3

Exp. (%)

100.0

14*-

100.0

100.0100.0

Newsec Corporate Finance AB

- 0

0

3.0 ▲Industry Total

14* 2 0 -- 2 2 ▲

3.6 13 65.51.5


305.1

-

▲

2 ▲ 13.6 12.0 -

30*

-

4,917.7450

465.0 426.6 1 447.1 ▲0 0 - - - 25* 100.0


-

100

200

300

400

500

600

700

$0

$2

$4

$6

$8

$10

$12

$14

# of

Dea

ls

Ran

k Va

lue

(US

$b)


15.3%

15.0%

12.6%

11.1%

9.5%

8.8%

8.0%

5.7%

5.5%

3.8% 3.3% High Technology

Real Estate

Industrials

Energy and Power

Materials

Healthcare


Telecommunications


Financials

Consumer Staples

Retail

11


-

▲

8*

32 0

8

8*

3

10*

8*

1

6

32*

▼5,219.8

0

15* ▲

9 2

30.0 27.7


0 -

0

014*

Jan 1 - Mar 31

92.6

# of Deals RankEuro mil

-

▼

100.0

-

▼

-2 ▼ 0 0 - - -

-▲

▼-69.5

25*4*

Change (%)

9.1

1

57.6

20

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

29*

▼

-

122.8

-

-

▲

2

-

2

1.7 26*

270.0

394.2-

2 ▲0

14.5

Advisor

▲

37* 2

32.8 21*

356.4-

386.1

33*

-

25*5

▼-63.5

Capitalmind

-

100.0

3 -

6

▼ 7.8

4* 14*

271.0

2

▼

0 -

30.0

15* 14*

Rank

8*

2

-

Deloitte

14*

CITIC

KPMG

0

Banque Degroof Petercam SA 15*

15*

15*

▼ -2*

-175.7

254

-

32*

2

3

0

2*

3

2

116.0

CFI 2 -1

8*

2*

▲499.9

62.3

-9

15*

-26

Rothschild

Lazard

15*

BCMS Corporate Ltd

15*

23132

8*

-

56.825*

8*

6*

HSBC Holdings PLC

2

Jan 1 - Mar 31


2

7

28.71

-

100.0

-

45* 100.0

0

14*

62*

-

-

31.3

22 -1

15* 14*

100.0


-35.8

▼

-

10

.9

378Industry Total

2

100.0

10*

UniCredit

-

2.5

Benelux Involvement Mid-Market Rankings (MM10)

0

73.5 17 ▼

-100.0

37.6

100.0100.0

71.4

100.0

-

100.0

-

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

Exp. (%)

41.5

US$m

Rank Value

-0

1.6

-

Fees

13

2.8 17-

-

-

0 - -

0546.1

▲1

159.93

1-

-

24

-

Change in

-

-

2.2

6.0

8.7

1.1

295.2 7

.76.9 - --1 ▼ 0 0

▲

-

-

1.0

15

241.3

2016

2

-2

167.1

▲0

-

▲0

▲-

0

-

226.7

62*15* -

-24.95,762.0

- -

2 8

-

149.8

Deals

- 2

5

46

0

Rank

15*362.0

.3

5

-78.8

100.02

▲



*tie

ING

Nielen Schuman BV

80.3-72.8

3 8 2224.7

▲

-

100.0

37*

37*

Barclays

CitiJones Lang LaSalle Inc

36*

15*41*

36*

-


La Compagnie Financiere2

25*


.5

-65.1

32*

43.1

▲

Financial Advisor

18.6

.7

3.5

1.5

- -

37*

2016 ** Fee

0


Rank

Rank Value

-1

3

# of 2015

15*

Globalscope

100.0

-

3.5Baker Tilly InternationalBNP Paribas SA

▲

2

Rabobank NV

Houlihan Lokey

3.7

19*

73

RBS

28-

▼ 014*

8*

▲

--


-6

▲-2

- 2 2 ▲ 5.4 5.0 - - - .6

1.0

Orange Corporate Finance BV

1.0

▼0

43*

1


13

NIBC NV

Ernst & Young LLP

DC Advisory 15* 10* 2

15*

100.0

51.7

100.0

Strata Advisory AB 15* -Robert W Baird & Co Inc

1.5 29* 100.0

100.0

- .3

-

30.0-

100.0

91.7110.2

- - -

30

0▼

2

2

2016

104.132.7

36*48*

-

11-

0

3

▲

43*4

-

6

-

1 ▲

-

100

200

300

400

500

600

$0

$2

$4

$6

$8

$10

$12

$14

$16

# of

Dea

ls

Ran

k Va

lue

(US$

b)


14.7%

14.5%

14.0%

12.8%

9.9%

9.7%

9.6%

5.4%

4.0% 2.5%

Energy and Power


Financials

Real Estate

High Technology

Industrials

Telecommunications

Healthcare

Retail

Consumer Staples

Materials


12


Financial Advisor

026*136.9

-13*

1

3*

-

--


3 149.0

▼

US$m

-

-

Rank Value

- .1

1 ▲- 1

3

6*

9

192.9

13*13*

13*13*13*

-

-

20*

0

-

1

-

2

-

VTB Capital 100.0

11

4.02

0

▲

739*

3.3

Akis Bagimsiz Denetim veCBRE Holding SASNewsec Corporate Finance AB

▲

22*

-

▼

-6*22

1-

6*

1

13*

-

▲

Rank

-- 1

- 1 1

-

▲- 1

▲

1 ▲

-

UniCreditBarons Financial Services Ltd

1

-

-Colliers Macaulay NichollsScotiabank

Deutsche Bank26*-


1

-▲

▲

-12

13* 214.2

22* -


0

FIDEA

0

22*

25.0

4.0

N+1

0

-

.5

22*

15* 122* -

4,709.8

Rothschild

▲22*

Change (%)

2016

-

2

▼-

-2

100.0

18.5 17.0

19

1.0

-

46.0

-

JP Morgan26.9

10

100.0

** Fee

-

-

2

-

▲

.6

1

1

100.0

100.0100.0

-

-11

-

48.8

2

Exp. (%)

-

Change in Advisor

0

2

-

20162015

▲

16

▲

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

1

6*

1.3


EE Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31

13*

100.0

4*-

.4

-

8

1

Fees

-2

13*1

-

96.4

100.039*

-

-

-

-

6* -

100.0

Jan 1 - Mar 31

100.0.8

Rank Value


-

Deals



0

18

11

0

6* 241.3

011 ▲

▲

13*

2016

13.6

Trigon

-86

69

1

13*

▲

23

0

17

--

▲

-

76.3

0262.2

8-2

CFILazard

22*▲

-

15*

16*

KPMG5

# of

296.1221.3 201.1

3

18

22*

15

--3

Rank

32.8

.1

30.3358.8

0

-

1

IMAP

86.0

-22*

1

Ernst & Young LLP

KBC Group NV

35

395.5

-3▼

-3*

3

▲

1

24*

-1-

-198.3 176.5

-

74*

6

95.9

Industry Total

-3 ▼

13*

-▲

-

131.5

3.022*

2

-

100.0

1

Deloitte

1-

-

0

23.0

50.1

- -

3* 00

▼324.0

03*

BNP Paribas SA

1

1

2

15* 1

-

3.73*

0

# of Deals

-

-

1

18

100.0

▲- 1 1 ▲- 1

2

Danske Bank

1.1

14

▲

Morgan StanleyHolon Sp zoo

15*

-Bank of America Merrill Lynch

1

13*

-.5

4,257.1735

0

5

100.0

- -0 0 22* - -

1.8 1.6 20 - -108.1 98.9 9 - -239.2 220.0 4

4.8

12.0

3

6*


13*0

-

1.5-

FirstEnergy Capital Corp

1

1

68.8

13*

-

100.0

0 22* - -1.2

Redgate CapitalCeska Sporitelna asStockdale Securities LtdCommerzbank AGConcorde MB Partners KftRota Tinmaz Degerleme vePekao Investment Banking SASEB

26*Superia

.5 26*

.6 24*

-- ▲

21 -

PricewaterhouseCoopers 100.0

-

1.5

9.8

16*

6*Rank

- 1 1 ▲15* 1 0 -

- 1 1 ▲ -1.1

*tie

13*13*13*13*13*13*13*13*13*13*13*

1 1

- -0

-

100.0

0

2

3.1

100.0

60

▲1 -

-

100.0

-

- -

-

100.0.9 22 100.00 43

0

▲

1 ▲

-

▲ 22*

▲0 0 22* - -

2.3 12

- -

100.0- - -.5 26* 100.0- - -

1.0 20* 100.0.5 26* 100.0- - --

33.5 30.9 13 - -0 0 22* - -0 0 22* - -0 0 22* - -0 0 22* - -0

29.6 -

--

Eastern Europe Involvement Mid-Market Rankings (MM16)

Euro mil


Rank


100.0

100.0

100.0

▲

Cushman & Wakefield Inc

100.06.6 6.0 19 450.0

- 1 1 ▲- 1 1

0

-

200

400

600

800

1,000

1,200

$0

$2

$4

$6

$8

$10

$12

# of

Dea

ls

Ran

k Va

lue

(US

$b)


26.9%

14.2%

12.0% 8.7

7.6

6.8%

6.2%

5.3%

5.2%

5.2%

Energy and Power

Financials

Retail


Telecommunications

High Technology

Real Estate


Industrials

Consumer Staples

Materials

Healthcare

13


Amasse Capital Ltd 33* 51* 3 1 ▲ 435.3 - 4297.0 ▲ - - -Duff & Phelps 33* - 3 3 ▲ 645.7 18 - - - - -

Deutsche Bank

70*

88*

8.7

Hochinma Involvement Mid-Market Rankings (MM13)

▼

444.4

19.4 -

-55.8 65*5

86*

534.5

4

535.6Rank

345*

4 5.4

13596.4

51*25* -33* 86*

4

50*

7*

23

1

16

10

527.4

China Securities Co Ltd 9* -19 1,635.6 6

7*

41*US$m

Rank Value

# of Deals

28

.6

-23.0Gram Capital

51*

6*

1145*

2016

.1▲

5947.7

Rank

▲▲

16*

25*

20*

33*

27*

2

Citi


249.9

4.4

9*

15*

-211

21* 27* 1

▲

49.3

3

▲

48

66.7

40.0

1,326.6

2,026.4

▼

320 ▲

▲

3

29*

.1▼

-86.3

1,853.9


Rank Value

17.3

92.7

▲100.0

3

▲77,393.2

-66.2

3

▼ .6-

3

-Asian Capital (Corp Fin) Ltd

-632.8

▲3 -1 ▼

▲

39*

33* 86* 3 2

-

Haitong Securities Co Ltd

CITIC


16* 9*

4

100.0

Rank

19

▼6

▲11

Industry Total

▲

2.8

17

1870*

1

3*

1

▼


701.3

▲

11

100.0

Axis Bank Ltd

45*

9*

-2812*.4

# of

100.0

5

1

.260.80

29*

339.8

1,363.8

100.0

Aijian Securities Company Ltd100.0

- - - -

-

25*

16* 39*

83.3

JP Morgan

Guosen Securities Co Ltd-

100.0CIMB Group Sdn Bhd

7

1

93.312*

1134.1

289.0

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

14▲

3

-

516.3

▲

-33*

Industrial Securities Co LtdDongxing SecuritiesBank of China Ltd

5

32

5

5

6

33* 86*

42.9

-

5

7

GF Securities

New Times Securities Co LtdGuoyuan Securities Co LtdFTI Consulting Inc

-36.1

Fees

61.5

50*

Advisor

234.0

- 1.3-

41

Hochinma Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31

-35.4

▲

88*

24-36.8

448.0

14

▲

** Fee

100.0

10.6

▼ .7

3*

▲


Jan 1 - Mar 31

1.8

82.1

9

- -13.3

65*

.5

2

27*

13

▼ 4.0

11*

27* 915*

2015

▲

.3

-395.1

816.9

27.9

694.5

732.2

33.2

▲

977.9

Lazard

Deals

▲25*25*

21*

2

-

4

-

1

-9

25*

88.9

24*


▲

1,971.8

558.9

3

88*

100.0

-

Rothschild 25* 20*

-1

5

50.6

-

165.6

1.6

35*

22*

12

4

16.9

87.8

4

▲

▼

22

56.6

▼

.2

3

3

71.0

6

▲

41.7

▲

-

7

▲

2114.7 ▲

-38.8 ▼

.1

10

4


33*33*

3

KPMG


8

-51.6

.4 59*

- 79.2 ▲11.5

33*

71.4

Kingston Corporate Finance Ltd-Mizuho Financial Group

UBS

.31.9China Construction Bank

Guotai Junan Securities

Goldman Sachs & Co

.8Ernst & Young LLP

-

Great Wall Securities Co Ltd

-▼

33*

167.0

211.1

-7

33*

3.2

-0.2

-62.5

2

30

16.7

▼

767.0

21

-19 - -798.2 12 - -311.1

- -140.5 - -

16.2 ▲

7 -

3

3.3

1.3▲

5

70*4

15

100.040.4

▲

258.5

▼

▼


57.3100.0

2 ▲ 107.9 - -21.9 ▼ 11.83 -4 ▼3 3

11*---

86*86*

-

33*33*

33*33*

▲3 3 ▲3 3 ▲3 2 ▲3 2

39*

▼39▼

▼▼

0 -

▲

2016

1,844.8

Nuada Ltd

54.8

387.9 38

795.2 13

86*

Somerley

Southwest Securities Co Ltd 7

Bank of America Merrill LynchChangjiang Securities Co LtdClairfield InternationalBDO

-1

*tie

2016

51*


21.4▲

21885.2

7 ▲

6.7

2 ▲

94.7100.0

-85.1

▲

▼

3

China Galaxy Securities Co 3 ▲

-3.5Shenwan Hongyuan Securities Co

14

1,694.4

20*

51*5.9

-▲

China International Capital Co

12* 2

Rank

6*-

109.4 60▼526.6

-38.4

9.6

1066

▲

59*6*20626.9

▲

4- 477.4

.7 41*

851*

3

39*

-81.8

▼

▼

-4

86* 4

25 279.2

Morgan Stanley

8.9-

4

16

▲

9

16*

1.6

-

.211*

7

6

0▲ ▲

12*

21*21*

9*

Huatai Securities Co LtdChina Merchants Securities Co

Change (%)

▲ ▼

▼

2

169.9

Financial Advisor

Industrial & Comm Bank China32.2

18

27*

25*

16*China Renaissance Partners

2,063

3.3 - -95.5 ▼

0.6

Exp. (%)

40.4

12.9

100.0

100.0

▲ 47.2 -▲ 56.6

-38.3

-

867.7

-2 ▼ 45 -79.3

6.4

-

666.7 17

5 ▲

16

15-

3.65.5

Change in

5.7 10 31.1.0 102* -.6 45* 100.0.5 50* 100.027*

-8

Credit Suisse 33*

2906.5

625.2

▲

.2 70* 100.0- - -

-

500

1,000

1,500

2,000

2,500

3,000

$0

$20

$40

$60

$80

$100

$120

# of

Dea

ls

Ran

k Va

lue

(US

$b)


17.2%

14.9%

9.6%

9.5% 9.5%

8.7%

8.6%

6.3%

5.7%

5.5%

4.1% High Technology

Industrials

Real Estate

Energy and Power

Financials

Materials

Healthcare



Consumer Staples

Retail

Telecommunications

14


.3 30 100.00 - - - .5 24* 100.00 - - - 2.0 7* 100.0

15.8 - - - .1 34* 100.0134.8 16 - - - - -

0 - - - 2.0 7* 31.7

18*18*18*18*18*18*18*18*18*

31* 1 0 -- 1 1 ▲- 1 1 ▲- 1 1 ▲- 1 1 ▲- 1 1 ▲- 1 1 ▲- 1 1 ▲- 1 1 ▲- 1 1 ▲- 1 1 ▲

-

24*

-

Asian Capital (Corp Fin) Ltd

Moelis & CoLY Capital LtdDuff & PhelpsGoldman Sachs & Co

18*

0

215.1

173.1

-

- - .2

11

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

34*

-

-

-96.1

204.2 7* -

48.9

100.0

-

-

53

7*

-

10* 100.023.2 - - - .4

-

0

1

2431* Jan 1 - Mar 31

▼

.4

▲

18*


-21.3 - 108.8

-

2.3

-

9*100.02

29*

0.7 -

1

-

18* -

1

1

14,377.4 7.5

-

-

- -

▲

18*

-

-


9*

-

9*2

-

56.6

31*▼

18*

1.9

KPMG

JP Morgan

-

-

1

▲

22

- --

-

---

100.0

154.9

Deals

31*

▲

-

3

-

--

1

-

1

1

▲

-

2

3.5▼

-

31*23.6

0

1

1

2 -

▲-

100.0

10.6

.1

45.3

▲

-

-

- - -

-

-

438.5

314.4

-

18*

39.8-

-

1

-

▲



-

-

18*

18*

Industry Total

Veda Capital Ltd

*tie

0

100.0

▲

HSBC Holdings PLCBDOCBRE Holding SASDonvex Capital LtdTC Capital Asia LtdAlliance Capital Partners LtdAllen & Co Inc

▲18*

1

9*

▲

1

-1875.4

34.60 100.0

-

204.2

25

-

Cassel Salpeter & Co LLC28 -91.9 ▼

-

3.2

-

18*

Earlybirdcapital Inc

Platinum Securities Co Ltd3

-

14

382

-

754.3

-

0

31*

6

1

31*

2

18*

11

-

75.5▲

9*

-77.1

-

-

TC CapitalBridge Partners Capital Ltd

UniCredit

Mizuho Financial Group

-90.6

1

-

Quam Securities Co Ltd

NRA Capital Pte Ltd

-31*

171.6

US$m

▲

-

2

▼

-8 ▼Amasse Capital Ltd 4*

4


2

Kingston Corporate Finance Ltd

14* 1 -

-15 -

-

2

3

2

▼- 154.8

▼

31.7

.4

China Galaxy Securities Co178.6

--8

100.0

21 ▲

9

3 --91.0

9*

4* -

14*

14*

3

2

27*

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

.6

2016


4297.04

4

22


CITIC

2016

-1

Rank Value

▼4*

-

▲


4* -

2016

Gram Capital

Rank

Advisor

Fees

100.0▲Haitong Securities Co Ltd

0

100.0

18*

9*

1* 3

37.4

▼

- 1 1


-

▲

1 -

-

-47.9

39*

▲1 1

-0

- .1

-

▲

Aijian Securities Company Ltd18*

-

-

100.0

Guotai Junan Securities

1

19

Rothschild

▲ - -

1

▲

UBS

-

11*.2

10.7

CIMB Group Sdn Bhd

▲

18*18*18*

18*

-

BNP Paribas SA

18*

-

- 1 1

1

31*

Colliers Macaulay Nicholls

9*

Hong Kong Involvement Mid-Market Rankings (MM12)

100.021

9*

31*

18* -

2

Rank ValueChange in

-

-

5

Rank

▲

-

-

3.2

0

3.7

2015

419.4

13

2.8

43

33

FTI Consulting IncSouthwest Securities Co Ltd

0

-

1-

-

▲

9*

18*Investec--

- 1 1 ▲

1-

-

** Fee

Rank

Somerley

4*

Rank

Morgan Stanley

Financial Advisor

-

▲435.3

-▲

44.4▲

229.4 10*20-4 .5

9

▲

1

▲16.6

1*1*

23

55.0

58.3

China Construction Bank

Huatai Securities Co Ltd

China Merchants Securities Co

Nuada Ltd

# of Deals

5-

14*

14*

-Lincoln International

2Euto Capital Partners Ltd

-

-

1985.7

-

0

18*-▲

3.3

18*

-6.9

10

▲

17 -

27*

1-

1

-

34*-0

116.8

-

-

-


-

14*

China Everbright Ltd - .7

▲

21.3 --

-

201.8

-

100.0

-

4

-

▼23

1 -1

-

-

0-

2

1.8

Change (%)

279.2

Jan 1 - Mar 31

Exp. (%)

100.0▲

527.4

# of

72.81

15.818*

▲

1

14* 1 -1 ▼

100.0

-66.2 ▼

100.0

-

22

-

47.2

1.1

0 41* - - - - -0 - - - .2 31* 100.0

173.1 11* - - 1.8

0

-

-

--45.5

-

6

39*

27* 100.011.1 - - - - - -15.8 - - -

-

100

200

300

400

500

600

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$20

# of

Dea

ls

Ran

k Va

lue

(US$

b)


19.0%

17.3%

10.6%

10.1%

8.4%

8.1%

7.4%

7.3%

5.9%

4.6% Real Estate

Financials

Energy and Power

Industrials

High Technology

Materials


Healthcare


Consumer Staples

Retail

Telecommunications

15


Panmure Gordon & Co Ltd 12* - 1 1 ▲ 21.3 25 - - .4 36* 100.0JP Morgan 12* - 1 1 ▲ 0 - - - 2.5 13 100.0Bank of America Merrill Lynch 12* 20* 1 0 - 490.7 3* 197.4 ▲ 14.7 2 79.9

Tat Capital Pty Ltd 12* - 1 1 ▲ 1.5 - - - - - -Rabobank NV 12* - 1 1 ▲ 0 - - - 0 46 -M&A International 12* 20* 1 0 - 53.1 22* - - .9 30* 100.0

Duff & Phelps 12* - 1 1 ▲ 495.4 2 - - - - -

12*▲

3*

Raymond James Financial Inc

RBC Capital Markets

BMO Capital Markets

-

▲▼ 12

-

- 1 1 ▲- 1 1 ▲

-

8

-1 -35.9

7.3 - - -

9.3 - -

12*


35-

5.6

-

-▼

18

217.91

12*12*

-

3-

- 2-2

1

12*

▼

- 1

6*

-

0

-

9

20

44*-

1

110.2

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

--

-

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

100.0

-

19.0

-

-

-

-

---

1

1

1.9

-

12

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

3

US$m

Advisor

100.0

8.310

-66.0

▼

-

-

-

Rank

11* 3.6

2* -5

-

-▲


Rank

1*

-11

20*-1

1

-

5

Rank

83.0

12*

6*

4

▼8.9

162.6

464.1

-23.1-2

0-

-

-

-82.0

3*

2016

522.1

20*6*

177.9

2.0

0

5.5

Rank Value

8

2

12*

27*

Jan 1 - Mar 31

2

2016

-

306.8

.1

6*

12*

20*

490.7

▲

1100.0

Acacia Resources Ltd12*

12*-

▼

▼

-

▼ 4.8100.0

▲

22

▲32.8

▲

Rank Value

-51-

2* -

1

59.3

3▲ -

▼

-

6*

30.5

6.3

-


▲Peel Hunt LLP

Financial Advisor

100.0

480.067.0

2

-29.1

6*Haywood Securities Ltd.Nomura

▲

19 ▼

-

1

** Fee

Exp. (%)

1

6*

-6

15*

-

24

Ernst & Young LLP

-11

19Greenhill & Co, LLC

Rank

Jones Lang LaSalle Inc


1315*

-

12*

83.0

Lazard▼

-

4


▲

11*

39.3

-

3

53.10

▲

2UBS

5*20

26

-

-

3

- 022*

100.0▼1

21.0

-

.5

16.3

1 12Blum Capital Partners LP

Sanlam Ltd1.1 100.0

.8100.020* 31*

Deutsche BankMorgan Stanley

31*

6*

1

2

57.0

-

1

-

-480.0

-

- -

031*0

-

▲

100.0100.0

-

0

▼

-

4.9

-41.9

▲

Industry Total

Jan 1 - Mar 31

2.7

7,738.5353 182.3

8* 1 -2 ▼20* 1 0

Goldman Sachs & Co

Credit Suisse

.4

# of

6*

DH Capital LLC

5*

-

0

8*

112*

1

0341 -

12*

549.4

Deloitte

2

Rothschild

3*

52.4

Change in



2016

68.3

2*

*tie




▲-1

KPMG

Deals

23.6▲

77.0

-

2

-

-

1

480.0

224.0

1.0

21 - -1 ▲

.2 40* 100.01.0 27* 100.0- - -

5.6 6* 100.0

-

5* - -63.4

-

- -83.0 15*

- -

-11*

▲

0 - - -0

1 -1 ▼- 1 1 ▲

11* 1 -1 ▼

1.6 22 100.0

0 31* - -0 - -

- 1 1

12*12*12*12*12*12*12*12*12*

- 1

-80.6 19 -61.7

Greenstone PartnersIMAPCenterview Partners LLCCitiInvestecMoelis & CoClairfield InternationalFort Street AdvisersArlington Group Management LtdMiles Advisory PartnersNorthland Capital Partners Ltd

-

12*12*

- 1 1 ▲- 1 1 ▲

-▼

▼-41.8

▲

230.1

7

3*

2015

Change (%)

Macquarie Group# of Deals

-2

12*Sidra Capital - 1 1 ▲ 121.1 14 -

-

24* 100.0- - -

1.2

100.0

36*72.847.3

1


Fees

.1 44* 100.0

.2 40* 100.0

.2 40* 100.02.2 15*

-0 31*

-

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)


17.2%

15.6%

15.3%

14.7%

9.0%

6.9%

6.9%

3.9%

3.8%

3.6% 2.9% Materials


Energy and Power

Industrials

High Technology

Consumer Staples

Real Estate

Financials

Healthcare

Retail


Telecommunications

16


--

-

620*

-2

2


3*

Rank Deals

2015

-

11

2.1 100.0

-

2 -1

12 - - .1 15*

Singapore Involvement Mid-Market Rankings (MM14)

100.0

--

-

Rank

-


Nomura

-AMMB Holdings Bhd

2


20*

2

▲54.7

1

Amidas Partners Inc

3-

1

Rank Value

7.4 ▲

108.8 -69.1

5 ▲ 4,388.0

-

▲

-61.6

-

Industry Total

Jan 1 - Mar 31

-


-

-

1.4

Jan 1 - Mar 31

Change (%)

** Fee

44.3

.8

▼

3

-

3.0

-7

100.0

69.1

Macquarie Group1

33.3

-

-

10

-

-

628.0

-

Credit SuisseFinancial Advisor

Deutsche Bank

4JP Morgan

12*

-0

0

0

0Evercore Partners

DBS Group Holdings 12*

-

-

-

1 ▲

-

Wells Fargo & Co

Morgan Stanley

-

1

▲- 1

1*

100.0

PricewaterhouseCoopersNRA Capital Pte Ltd

1


RankFees

100.0▲

7*

7*12*

-

▲

▲1

Change in 2016

# of Deals

407.34

Rank Value

100.0

-759.3105.7

2

7

-- 100.0

--

5Exp. (%)

2016

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

2

-▼

# of Advisor

--

-

3

-

14.5 1

12* - 13

-

5 -

-

20*

3.9477.4

20*

3*

3*

5

.32

8-



▲

2016

Citi

3

7* -

US$m Rank


▼

- 1 -

-

-- -

CIMB Group Sdn Bhd

100.0- -- -- -- -

18 -20* - -

3.9

2▲▲

-

3*

▲

3.7

▲

1


-

- 1 1 ▲- 1

- 1 1 ▲1 1 ▲

12*12*12*12*12*12*12*12*

-3*

3*

0.7

*tie

-8.0

- -0 20* - -0 20* -

-

7*

2

3

7*

12*Asian Corporate Advisors Pte - 1 1 ▲ 13.6

.1----00 -

-

2

-

1 -2

7*

▲2

17 -3

-230.5

-

62.2 9 -1 ▲0 -

- 1 1 ▲- 1

19

-7*

15*

1 ▲

▲3.9 15* - -6.0 14 - -3.5 18 - -

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

15* -90.3 ▼

84.6 8 526.7

7* 1

7* 1

12*12*12*12*12*

195

Ernst & Young LLPUnited Overseas Bank LtdPlutus Consulting Co LtdRHBBank of America Merrill LynchDeloitteCanaccord Genuity

0 20* - -0

-

-6.5

▲

20*▲-

-

GCA Savvian Group Corp

▼0 20* - -

22.8 11▲

2

-

1

7*

3 00

4

Jefferies LLCMalayan Banking BhdKGI Financial Services GroupSimmons & Co InternationalHSBC Holdings PLC

3* 1 -1 ▼- 1 1

1 ▲- 1 1 ▲

407.3 3* - - -- - -- - -.5 10 100.0.2 12* 6.7

-

50

100

150

200

250

300

$0

$2

$4

$6

$8

$10

$12

# of

Dea

ls

Ran

k Va

lue

(US

$b)


26.5%

13.8%

13.0%

12.5%

11.2%

7.4%

6.7%

3.2% 2.7%

Industrials

High Technology


Real Estate

Retail

Materials

Consumer Staples

Energy and Power

Financials

Healthcare


17



Industry Total

1

-

12

14 17*

▼

-

100.0100.0100.0▲ .3


Deloitte

-21*

2

*tie

▼

88.1

28

3


45*

6*

- - - .8-1

95.8 21 --

55.7100.0100.0

Change in

-

100.0

▼

3

- -

9.0

Exp. (%)

** Fee

22Rank

▼1

0

-13

.1-2

3

43*

2016

5.9932.9 3

4

Rank Fees

▼

-8

.9158.9

24*

-32.9

40.3

6*

16.215

# of

-62.06

43*

▲

▼

18.8

2015

46.244.4

100.0

363.5

2016

▼ 1.723

-93.2

22

Financial Advisor

2016

100.0

-291.6

33*

127.0

0

4

▼

2

-21*

26*

37

237.9 9-

1.5

1

9.4

12

46.6-5

40*

3

# of Deals

Advisor

Japanese Involvement Mid-Market Rankings (MM15)

-11

2

32

100.010

100.046*

▲

4.2

10.1

12

4

-

20*

▼0.4

- -35*

0

.4

2▼

Professional Partners

-7

21* 43*

2

1 ▲

Japanese Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31

-▼ 0Kaede Group 21* 26*

849 ▲ 174.2 44.8

Rank Value

-40.4

▼

-73.82

11

13

910

▼-36.2

100.048.1

171.0

1

100.0▼

▼

US$m


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

5

15

-19.6

.6

12 6*8GCA Savvian Group Corp

▼ -92.955.7

026

Mizuho Financial Group

Corporate Advisers 100.0

29

10.7-12

-

1,274.0

364.43.7 -

24

3.6

-80.7

▲

7

1.1

Rank Value

14.2

▲4 5

4-5

11

-3.4

-

3.1

-171011 10 ▲

2Daiwa Securities Group Inc


Plutus Consulting Co Ltd▼

DealsRank Change (%) Rank

238*

6*KPMG 3

-11 2 39

5

-

9

-

21*

▲

9.2

38

-28.4

1,833.1 1

- 8.7

2.6

65.3


Nomura463.7226.1

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

Jan 1 - Mar 31

51.3

Mitsubishi UFJ Financial Group -85.9

6 12▼

▼


Wells Fargo & Co

2

26*

21*

21*21*

-1-2

3.7- -99.0-

3JP Morgan

-9

Yamada Consulting Group Co Ltd

-68.8

0

21*

.4

16*

21*-▲

- - - 40*

0

-0

-

▲.2▼

-DNB ASA

-

-97.2-

Citi -46*

21*

048*Sumitomo Mitsui Trust Holdings

-2-

-46*

Ernst & Young LLP

-

2

3

2

0

OAG Tax Accountant 21* -

26*16* 17*

▼

CLARIS CAPITAL 3-

82.6

Credit Suisse

Growin Partners Inc

▼▼

-

- .816*

Maxus Corporate Advisory Inc-7

▲PricewaterhouseCoopers

100.0

66.0

99.5 202 ▲

-3


3

2.2 - ▼

2M&A Properties Corp

56*▼

Moelis & Co

17* 243*

-

19.3

100.0

141.5

-

33*

0

-

-2

13*

16*

▼

5▼

88* -

▲1 4637.7150Amidas Partners Inc

3.9

▲10

▼

0

-75.714*

16*

6.0

35*

20*

14

Mitsubishi UFJ Morgan Stanley

1.6

11,562.4 -29.8


6

1

8*

▲

▼

-

100

200

300

400

500

600

700

800

900

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

# of

Dea

ls

Ran

k Va

lue

(US$

b)


33.5%

21.5%

12.1%

8.5%

6.1%

4.4%

3.7%

3.3%

3.1% 2.4%

Real Estate

Industrials

High Technology

Retail



Healthcare

Consumer Staples

Materials

Financials

Energy and Power

Telecommunications

18


Guotai Junan Securities 17* 9* 4

26

4 2 ▲795.2 12

.3 38*

15* 47*

▲ 477.4

21

3

234.0 39 -79.3

323.2

1.3

-

3 ▲

Change (%) Fees


-▲

364.9 ▲ .2

▲

3

▲ 503.5

3

- - -

100.024* 4 2

.2 42* 100.0

66.7

5 ▲ 1,363.8 6 33.2 ▲ .2 42* 40.0CITIC 3* 7* 14

57* 100.07 ▲ 1,971.8 1 947.7

MM20 - Undisclosed Values & Values up to US$500m Jan 1 - Mar 31 Chinese Mid-Market M&A up to US$500m by Rank Value Range

11 1,326.6 7

2 18* 19 16 ▲

4 ▲ 1,694.4 4 258.5 ▲ .7 24* 100.0

5.5 4 82.1

Guosen Securities Co Ltd 12*

▲ 1.6 15* 61.5

China Renaissance Partners 12* 4* 6 -3 ▼ 448.0 26 -62.5 ▼ 5.9 2 40.4

Deutsche Bank 17* 47* 4

24* 13

-81.8 ▼

- - -

Gram Capital 1China International Capital Co ▲ 4.6 5 14.8Southwest Securities Co Ltd 3* 4* 14


Chinese Involvement Mid-Market Rankings (MM20)

.1

42* 100.0140.5 - -

516.3 19 92.7 ▲ -

- - - -

109.4

China Galaxy Securities Co

China Securities Co Ltd 7

17* 13* 4 -1

Industrial & Comm Bank China

534.5

Exp. (%)

10 93.3

-2 ▼ 16.7China Construction Bank 17*

Rank

China Merchants Securities Co 5 2114.7▲

9* 1

Lazard

2016

9* 24* 7 5 ▲ 1,244.9 8 658.2 ▲ 2.3 12 20.5

1,853.9 2 4.4 ▲ .6

Industry Total

Huatai Securities Co Ltd 6

-

2015 # of

3 -4 ▼

# of Deals

11 -2

Dongxing Securities 23* - 3

Rank Value

79.2

1,844.8 3 169.9

▲311.1 -100.0

66* -

Haitong Securities Co Ltd 9* 24* 7 5 ▲

8 2 ▲ 835.9 10 -4.0 ▼ 4.0 7 15.2-1 ▼

-36.1

527.4 17 301.4 ▲ 1.9 14 100.0

New Times Securities Co Ltd

- .2 42* 0.6

▲

867.7

▲

7 -28

▼

5

1,635.69Morgan Stanley 8 9*

5

513.7

▼ .1 57* 100.0

Chinese Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31

FTI Consulting Inc 17* - 4 4 ▲Great Wall Securities Co Ltd 23* 47* 3 2 ▲GF Securities 23* 18* 3 0 -Mizuho Financial Group 23* - 3 3 ▲Kingston Corporate Finance Ltd 23* 24* 3 1 ▲Aijian Securities Company Ltd 23*

54.8 - - -

3 3

60.8 ▲

2 ▲ 107.9 - -21.9 ▼ 11.2 1

- -52.0

1,390 238 ▲ 64,661.5 20.2 ▲ 123.3 34.6


▼ 2.9 9 100.0526.6 18 -

387.9 31 -38.8 ▼ .2


8 44.4Somerley 23* 6 3 -5 ▼

*tie



Guoyuan Securities Co Ltd 17* 24*

18* 26

27*

27*

57*

27*

-

24* 6

2315* - 5 5 ▲

83.3

47* 3 2

2

▲ 3.3 - -76.3 ▼ .5

.5

▼ .1

Shenwan Hongyuan Securities Co 12* 13* 6 1 ▲

Citi

.5

20 179.3

3.3 - -

4 ▲ 158.4 - 32.0 ▲

Industrial Securities Co Ltd 23* 7*

▼100.0

42* 100.023Financial Advisor Rank Rank Deals

16 71.4 ▲

289.0 35

2016 Rank Value Advisor 2016 ** Fee

2.8

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

▼

▲

0

3

2 ▲-

9 -

20* 100.0694.5 13 2906.5 ▲

100.0

US$m Rank

-84.8 ▼19.4 -

41.720* 100.0

- -74.1182.3 -

Bank of China Ltd 23*

Credit Suisse 23* 47*

- 1.3

426.7 27 -52.1 ▼ 3.2BDO 23*

3 ▲ 632.8 15 - - - - -

37*

645.7


11

32.2 ▲ .4 33*

Change in

37*37*

Duff & PhelpsJP MorganKPMGLa Compagnie FinancierePiraeus Bank SAQuam Securities Co LtdUBS

- 3 3 ▲47* 3 2 ▲47* 2 1 ▲47* 2 1 ▲

- 2 2 ▲- 2 2 ▲

47* 2 1 ▲- -

.4 33* 100.0- - -.4 33* 100.0

5.7 3 31.1

Golden Sun Securities Co LtdNuada LtdPacific SecuritiesSinolink Securities Co LtdBank of America Merrill Lynch

- 2 2 ▲47* 2 1 ▲

- 2 2 ▲9* 2 -4 ▼- 2 2 ▲

470.1 25 -43.3

14 - -305.2 - 270.8 ▲

8.8 --

-2.4 11 9.7

154.8 - - -190.2 - 3296.4 ▲

23*23*37*37*

476.5 24

37*37*

-401.5 - - -

816.9

37*

100.0.2 42* 100.0- - -- -

Donvex Capital LtdGoldman Sachs & CoAnglo Chinese Corp Finance

- 2 2 ▲47* 2 1 ▲

- 2 2 ▲

214.1 .4 33* 100.01.6 15* 15.5- - -

-▼-

▼-

-

Changjiang Securities Co Ltd 23* 47* 3

- - -313.6 - - -156.8 - - -

-

37*37*37*37*37*

-83.9 54 -90.0

- - -4.4 6 11.7.3 38*

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

$0

$20

$40

$60

$80

$100

$120

# of

Dea

ls

Ran

k Va

lue

(US

$b)


19.6%

14.4%

10.4%

8.8% 8.5%

7.9%

7.6%

7.0%

5.8%

5.7%

4.2% High Technology

Industrials

Real Estate

Materials

Energy and Power

Healthcare

Financials



Consumer Staples

Retail

Telecommunications

19


20* 100.0.5 14* 100.00 29*

18* 21.48* 6 4

▲ 781.6 1 - -

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

11 -36.8 ▼ .3

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. (%)

- - .2 20* 100.05 1 ▲

Citi 5* 15*

87.5▲ 616.5 2

.9 7* 100.0

Lazard 7* - 2 2 ▲ 0 18* - - - - -Societe Generale 7* -

Ernst & Young LLP 1 1* 7 -5 ▼ 339.8 5 -28.1 ▼ 3.6 4 100.0PricewaterhouseCoopers 2* 5* 6 3 ▲

2

3 2

KPMG 2*Axis Bank Ltd 4 4 56.6

Avendus Capital Pvt Ltd 7* 1* 2 -10 ▼ 4.0 16 -99.2 ▼ .2 20* 100.0Rothschild 7* 15* 2 1 - - - - -▲ 0 18*

3

Goldman Sachs & Co 7* 15* 2 1 ▲ 387.7 4 - - 1.4 6 100.0

Infrastructure Leasing & Fincl 14* - 1 1 ▲ 0 18* - - .2 20* 100.0Raymond James Financial Inc 14* - 1 1 ▲ 0 18* -

- 2

- - -

2 ▲ 180.0 7* - - .9 7*

460.0UBS 14* --

14*14*14*14*14*14*

Kotak Mahindra Bank LtdIV Global Securities PCLCorporate Finance AssociatesLivingstone PartnersBusiness Development Asia LLCLincoln International

3 1 -4 ▼- 1 1 ▲- 1

0

78.2

Indian Mid-Market M&A up to US$500m by Target Industry Jan 1 - Mar 31


352 53 ▲ 5,393.2 11.2 ▲ 54.6


15* 1 0 - 18* - - .5 14* 100.0

*tie



14*14*14*14*14*14*14*14*14*

-100.0100.0

-100.0100.0100.0

Industry Total

8.3

- - 6.4 2 100.0

JP Morgan 7*

Arma Partners LLP 7* - 2 2 ▲ 0


Indian Involvement Mid-Market Rankings (MM21)

MM21 - Undisclosed Values & Values up to US$500m Jan 1 - Mar 31 Indian Mid-Market M&A up to US$500m by Rank Value Range

38.3 12 - - .7 9*

- -

2 ▲ 0 18*

1 1 ▲

- - - - -

1 ▲- 1 1 ▲

15* 1 0 -

70.2 10 -88.1 ▼133.9 9 - -

0 18* - -0 18* - -

5.0 15 -70.1 ▼ -

.7 9* 100.0- - -.2

18* - - -5* 15* 2 ▲ 11.5 100.0Clairfield International 3 14 16.2 ▲ .6 11*

---

15*--

15*--

1 ▲1 1 ▲1 1 ▲1 0 -1 1 ▲1 1 ▲1 0 -1 1 ▲1 1 ▲

1 3.0--.2.5-

7.2.5.3

-29.0 13 - -

180.0 7* 5--

20*14*

-1

14*18*

100.0-

Morgan StanleyAxis Capital Holdings LtdBank of America Merrill LynchDeloitteKBS Corporate Sales LtdTat Capital Pty LtdJefferies LLCAristea SASCommerzbank AG

-0 18* -

321.6 6 -0 18* -0 18* -

1.5 17 -0 18* -0 18* -

-------

-

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)


25.0%

17.4%

15.8%

8.3%

8.1%

7.2%

5.9%

5.8%

4.0% 2.4% Healthcare

Financials

Industrials

High Technology

Energy and Power

Materials


Retail


Consumer Staples

Real Estate

20


-

-

-

-

-

Asia-PacificKelvin BianTel: +852 3761 1852E-mail: [email protected]

-JapanKaori Motohashi (Ishida)　Tel: +813 6441 1338

-

A tender/merger transaction is considered to be effective at the time of consummation of the merger or the date on which it is declared wholly unconditional.

Financial and legal advisors receive full credit for each deal on which they provide financial or legal advisory services, unless they represent minority sellers or advise on only a portion of the transaction or Thomson Reuters has not been made aware of their participation in that transaction. For pending transactions, advisors to targets of multiple bids receive credit for the transaction agreed to or, in the absence of an agreement, the value of the highest offer.

Any Involvement league tables include deals where the target, acquiror, or either ultimate parent are domiciled (nation of headquarters) in the specified region or nation.

League tables include rank eligible mergers, acquisitions, repurchases, spin-offs, self-tenders, minority stake purchases and debt restructurings.

League tables, commentary, and charts citing announced activity are based on Rank Date and include intended, pending, partially complete, completed, pending regulatory, and unconditional transactions. Rank Date is defined as the earliest public announcement of when a value can be applied to a transaction.

Americas

Ranking Criteria Summary

Announced league tables include all deals that were announced between January 1, 2016 and March 31, 2016 and of which Thomson Reuters was made aware. All current data and previous year's data is as of 06:00pm EST on April 11, 2016.


While Thomson Reuters has used reasonable endeavors to ensure that the information provided in this document is accurate and up to date as at the time of issue, neither Thomson Reuters nor its third party content providers shall be liable for any errors, inaccuracies or delays in the information, nor for any actions taken in reliance thereon, nor does it endorse any views or opinions of any third party content provider. Thomson Reuters disclaims all warranties, express or implied, as to the accuracy or completeness of any of the content provided, or as to the fitness of the content for any purpose to the extent permitted by law. The content herein is not appropriate for the purposes of making a decision to carry out a transaction or trade and does not provide any form of advice (investment, tax, legal) amounting to investment advice, nor make any recommendations or solicitations regarding particular financial instruments, investments or products, including the buying or selling of securities. Thomson Reuters has not undertaken any liability or obligation relating to the purchase or sale of securities for or by any person in connection with this document.

© 2016 Thomson Reuters. All rights reserved.

Thomson Reuters and the Thomson Reuters logo are registered trademarks and trademarks of Thomson Reuters and its affiliated companies. Any third party name or mark herein belongs to the relevant third party.

Europe, Middle East & AfricaEwelina Jarecka

Deals with undisclosed dollar values are rank eligible but with no corresponding Rank Value. Non-US dollar denominated transactions are converted to the US dollar equivalent at the time of announcement of terms.


Robert Levine

E-mail: [email protected]



Tel: +44 (0) 207 542 2246

If you would like to participate in the submissionprocess, receive quarterly press releases, or havequestions about league table criteria pleasecontact:

Tel: +1 646 223 5682

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