Investec M&A Tracker Q3 2017

Review of Irish M&A activity

M&A Tracker Summary, Q3 2017

Quarterly Value and Volume Trend

0 10 20 30 40 50 60 70 80

€0.0bn €2.0bn €4.0bn €6.0bn €8.0bn €10.0bn €12.0bn €14.0bn €16.0bn €18.0bn

74

74

64

65

60

€13.8bn

53

50

49

39

€8.0bn

€4.8bn

€2.8bn €2.3bn

€2.5bn

€1.5bn €1.3bn

€0.9bn

Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

Values

Volumes

Most Active Sectors (by volume)

10

9

7

Technology

Industrials

Health & Pharma

Transaction Type (by volume)

31

8

26

Overseas

PE

Trade

Overseas Transaction

Trade Sales

Private Equity

Investec Commentary

• 65 deals recorded with €4.8bn of deal value disclosed (notably the CRH acquisition of Ash Grove Cement for €2.9bn) • Deal volume slightly below Q2’17 but higher than the average over the previous four quarters • M&A activity undertaken by domestic Irish companies particularly strong with 39 acquisitions recorded, 8 of which saw Irish companies acquired • Continued interest in the Technology sector and Private Equity remains active in the market • Industrials sector particularly strong as was foreign interest in Irish companies - Investec Corporate Finance was the sole advisor to The Bidvest Group on its €175m acquisition of Noonan Services Group

Notes: Trade Sale: Acquisition of an Irish corporate by Irish / overseas corporate

Private Equity: Acquisition of an Irish corporate by Irish / overseas private equity, including MBOs Overseas Transaction: Acquisition or disposal of overseas corporate by Irish corporate / private equity

Investec Bank plc (Irish Branch) is authorised by the Prudential Regulation Authority in the United Kingdom and is regulated by the Central Bank of Ireland for conduct of business rules. Investec Bank plc is member of the London Stock Exchange and the Irish Stock Exchange. Registered in England Number 489604. Registered Office: 2 Gresham Street, London EC2V 7QP. Registered in Ireland Number 904428. Registered Branch Office: The Harcourt Building, Harcourt Street, Dublin 2. Investec Capital & Investments (Ireland) Limited trading as Investec Wealth & Investment and Investec is regulated by the Central Bank of Ireland. A member of the Irish Stock Exchange and the London Stock Exchange. Registered in Ireland Number 223158.

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