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IBERIAN MARKETMONTHLY REPORT
MAY 2021SPAIN DEAL OF THE MONTH Atrys Health acquires 99.75% of ASPY
PORTUGALDEAL OF THE MONTHChocolates Valor acquires Imperial Chocolates
Sponsored by:
DEALMAKER Q&ADEALMAKER Q&AÁlvaro Ortega from Datasite
Speed and agility are critical elements in M&A due diligence and Datasite Diligence gets you there faster.Delivering the results that matter with built-in, five level redaction and auto-categorization as standard.
datasite.com I +34 91 745 5872 I Calle del Pinar 5, 28006, Madrid
See how
In M&A success matters.
PORTUGAL
SPAIN
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
SPAIN
DEALMAKER Q&Awww.TTRecord.comTTR - Transactional Track Record
COUNTRY MANAGER IBERIA - ITALIA Álvaro Ortega es Country Manager para Iberia e Italia en Datasite desde 2010 y cuenta con una experiencia de más de 20 años en el sector Fintech, mercados de capitales y M&A en diversos países. Así mismo es tesorero Y miembro del consejo de ACG (Association for Corporate Growth) en Madrid.
COUNTRY MANAGER IBERIA & ITALY Álvaro Ortega, Country Manager for Italy & Iberia at Datasite since 2010. Alvaro has more than 20 years of experience in the Fintech sector, capital markets and M&A in various countries. He is also a Treasurer and a member of the board of ACG (Association for Corporate Growth) in Madrid.
ÁLVARO ORTEGADATASITE
Monthly Report - May 2021
DEALMAKER Q&Awww.TTRecord.com Monthly Report - May 2021TTR - Transactional Track Record
TTR: M&A activity has bounced back in Q1 after a difficult 2020. What dro-ve M&A activity in Q1 in EMEA and Spain, and will it last?
A. O.: M&A globally saw a strong first quarter and EMEA was a big contributor to this success. Deal value in EMEA increased 40% yoy in Q1 2021, from €193.1bn in Q1 2020 to €269.8bn, and deal volume climbed 14% from 1,918 deals in Q1 2020 to 2,196 transactions in Q1 2021 (Deal Drivers: EMEA Q1 2021).
At Datasite, new projects on our platform, which are deals at their inception ra-ther than announced, are skyrocketing: +21% in January, +12% in February, +67% in March and +80% in April.
While no one has a crystal ball to know what really lies ahead for M&A, signs are positive that the upward trend may continue. With more countries rolling out vaccines, more people being vaccinated, and more restrictions beings eased, life is starting to return to a bit more of a ‘normal’. As mentioned in our Deal Drivers: EMEA Q1 2021 report, Iberia & Italy, Spanish GDP is set to grow at 6.4% in 2021, and Italy is projected to see 4.2% GDP growth in 2021 and Portugal 3.9%. Stock markets in the region were also pointing in the right direction at the end of Q1: Italy’s FTSE MIB is up 10.18% for the year, Spain’s IBEX 35 has gained 8.91%, and Portugal’s PSI 20 index has made more modest gains.
Lastly, effective interest rates remain negative and PE dry-powder remains at historically maximum levels; therefore, it is hard to believe M&A activity will slow down in the short to medium term.
TTR: Después de un 2020 complicado, la actividad de M&A se recuperó durante primer trimestre del 2021. ¿Qué impulsó este tipo de actividad durante el primer trimestre en la región EMEA y España? ¿Durará este repunte?
A. O.: A nivel global, las operaciones de M&A registraron unos datos satisfac-torios durante primer trimestre, y la región EMEA contribuyó en gran medida a este éxito. El valor de las transacciones en esta región aumentó un 40% in-teranualmente durante el primer trimestre de 2021 (de 193.100 millones de euros en el primer trimestre de 2020 a 269.800 millones de euros) y el volumen de transacciones aumentó un 14% (de 1.918 transacciones en el primer trimes-tre de 2020 a 2.196 transacciones en el mismo periodo de 2021) (Deal Drivers: EMEA Q1 2021).
El volumen de proyectos de Datasite (transacciones que todavía se encuentran en fase I o fase II y no se han anunciado) se está disparando: +21% en enero, +12% en febrero, +67% en marzo y +80% en abril.
Nadie tiene una bola de cristal para adivinar lo que el futuro depara para las operaciones de M&A, pero los buenos augurios predicen que se mantendrá esta tendencia alcista. Gracias a que cada vez más países impulsan campañas de vacunación, cada vez más gente reciben sus dosis y las restricciones siguen aliviándose; así, la vida empieza a recobrar cierta normalidad. Como recoge nuestro informe «Deal Drivers: EMEA Q1 2021», que trata los datos de la Penín-sula Ibérica e Italia, el PIB español crecerá un 6,4% en 2021. También se prevé que Italia experimente un crecimiento del PIB del 4,2% en 2021 y Portugal del
“The pandemic has increased the focus on core business lines, and many companies will consider divesting non-core assets. Additionally, since we expect to see a higher volume of deals this year, this may mean higher valuations and more competition for dealmakers. Therefore, dealmakers will need to further digitalize the M&A process if they hope to compete and get deals done. We are observing high levels of movement across the M&A labor market, which is a clear indication that a positive market is here to stay despite any ongoing COVID-19 considerations.”
DEALMAKER Q&Awww.TTRecord.com Monthly Report - May 2021TTR - Transactional Track Record
TTR: What types of deals and sectors drove this positive activity?
A. O.: With regards to the type of transactions, most on our platform are still being driven by positive sell-side or traditional mergers and acquisitions. However, the percentage of new projects on our platform that are distressed situations has in-creased in the last 12 months. Currently, it’s at about 17% compared to the usual 7% in normal times, and this could become higher, especially as government in-tervention subsides.
Dealmakers are also telling us this is the case. We polled dealmakers across EMEA during our webinars this spring to find out their thoughts on future activity, and they told us that they expect PE and corporate carve-outs/divestures/restructu-rings to be the largest drivers of activity going forward.
In EMEA, we’ve already seen the impact of PE deals in Q1. Per our Deal Drivers: EMEA Q1 2021 report, total PE deal value came to €11.1bn, a 9% rise on the pre-vious quarter and a 54% rise on Q1 of the previous year. Volume also rose yoy, by 33% to a total of 694 deals. In terms of sectors, TMT was unsurprisingly the win-ner, with deal value up 217% yoy, rising from €25.1bn to €79.5bn, and accounted for five of the ten biggest deals in the region.
This held true for Iberia & Italy, too. Deal value for the region was been boosted by thriving activity in the TMT sector, which was the largest industry by value in the region in Q1 2021. Year on year, total TMT deal value increased sevenfold from €1.4bn to €9.7bn.
TTR: In terms of distressed deals, how can dealmakers leverage technolo-gy to get ahead?
A. O.: When we surveyed 860 dealmakers from EMEA for our New State of M&A: EMEA report, 93% of them said that the ability to load large volumes of data quic-kly would be the most useful tool for restructurings, followed by email outreach to creditors (71%), and integrated redaction (60%). In Southern Europe, the majority of dealmakers there (79%) also believe that loading large volume of data quickly and email outreach (72%) would be the most useful in restruturings, but machine
3,9%. Asimismo, los mercados de valores de la región terminaron el primer tri-mestre bien encaminados: el FTSE MIB de Italia ha crecido un 10,18% durante el año y el IBEX 35 de España ha aumentado un 8,91%, mientras que el índice PSI 20 de Portugal ha obtenido beneficios más modestos.
Por último, las tasas de interés efectivas siguen siendo negativas y el “Dry Pow-der” del capital riesgo se mantiene en máximos históricos. Por tanto, no es nada probable que la actividad de M&A vaya a desacelerarse a corto o medio plazo.
TTR: ¿Qué tipo de transacciones y sectores han impulsado esta activi-dad positiva?
A. O.: Con respecto al tipo de transacciones, en nuestra plataforma, la mayoría todavía están impulsadas por operaciones de M&A tradicionales. Sin embargo, el porcentaje de nuevos proyectos que se consideran “distressed” ha aumen-tado en los últimos doce meses. A día de hoy, este tipo de proyectos suponen el 17%, en comparación con el 7% habitual en condiciones normales, y la cifra puede seguir creciendo, especialmente a medida que disminuyen las interven-ciones del gobierno.
Los profesionales coinciden en que este es el caso. Durante nuestros eventos virtuales de esta primavera, consultamos a profesionales de todo EMEA para conocer sus opiniones sobre la actividad futura: vaticinaron que la actividad por parte del capital riesgo y las reestructuraciones serán los principales impulsores de la actividad en el futuro.
Ya hemos apreciado el impacto de los acuerdos de capital riesgo en el primer tri-mestre en la región EMEA. Según nuestro informe «Deal Drivers: EMEA Q1 2021», el valor total de transacciones de capital riesgo alcanzó los 11.100 millones de eu-ros, un aumento del 9% con respecto al trimestre anterior y del 54% con respecto al primer trimestre del año anterior. El volumen también aumentó interanual-mente, en un 33%, con un total de 694 transacciones. En lo referente a los sec-tores, no sorprende la victoria de las TMT, con un valor interanual del 217% y un crecimiento de 25.100 millones de euros a 79.500 millones de euros; con estas cifras, representó cinco de las diez transacciones más importantes de la región.
DEALMAKER Q&Awww.TTRecord.com Monthly Report - May 2021TTR - Transactional Track Record
intelligence around categorization and indexing took predence (50%) over inte-grated redaction (43%), perhaps indicating that the initial steps in the process are crucial to success there.
And with government moratoria around bank loans due to expire in some coun-tries this autumn, NPL levels of portfolio sales, which have been lower than in previous years, could rapidly increase as early as H2 2021, but surely by 2022. Bank loans worth €23.2bn are currently subject to COVID-19-inspired morato-ria in Spain, Portugal, and Greece (White & Case), suggesting increased activity later in the year. Therefore, opportunities may abound for some dealmakers and speed and efficiency, through the right technology, will be of utmost impor-tance in getting these deals done.
TTR: How will COVID-19 continue to impact the M&A space this year?
A. O.: As mentioned above, more and more people are being vaccinated every day, globally. This is good news for the global economy and business in general as it helps tame uncertainty and market volatility. However, it doesn’t take away from how crucial technology has become and will continue to be in delivering services, engaging with customers, and providing business continuity.
We expect more companies will turn to M&A to strengthen their digital infras-tructure and capabilities. At the same time, the pandemic has also increased the focus on core business lines, and many companies will consider divesting non-core assets. Additionally, since we expect to see a higher volume of deals this year, this may mean higher valuations and more competition for deal-makers. Therefore, dealmakers will need to further digitalize the M&A process if they hope to compete and get deals done. We are observing high levels of mo-vement across the M&A labor market, which is a clear indication that a positive market is here to stay despite any ongoing COVID-19 considerations.
TTR: What types of technologies will have the most transformative impact for M&A dealmakers?
Esto también se aplica a la Península Ibérica e Italia, cuyo valor en transaccio-nes se vio impulsado por la actividad que registró en el sector de las TMT, la industria de mayor valor de la región en el primer trimestre de 2021. A nivel interanual, el valor total de las transacciones de las TMT se ha multiplicado por siete, con un aumento de 1.400 millones de euros a 9.700 millones de euros.
TTR: ¿Cómo pueden los profesionales aprovechar la tecnología para sa-car adelante las transacciones en el entorno actual?
A. O.: Encuestamos a 860 profesionales de la región EMEA para elaborar nues-tro informe «New State of M&A:EMEA» y el 93% coincidieron en que la capacidad para cargar rápidamente grandes volúmenes de datos sería la herramienta más útil para llevar a cabo las reestructuraciones, seguida de una buena captación de potenciales inversores (71%) y la censura documental integrada (60%).
En el sur de Europa, la mayoría de los profesionales (79%) también coincidieron en que acelerar las transacciones mediante la carga rápida de grandes volúme-nes de información y la captación de potenciales inversores (72%) serían las pres-taciones más útiles para llevar a cabo las operaciones de M&A. No obstante, los profesionales de esta región valoraron el uso de inteligencia artificial enfocada en la categorización y la indexación (50%) por encima de la censura documental integrada (43%). Esto quizás indica que, en esta región, avanzar rápidamente en los primeros pasos del proceso son cruciales para alcanzar el éxito.
Con la moratoria del gobierno en torno a los préstamos bancarios, que vencerá en algunos países este otoño, los niveles de operaciones de préstamos fallidos (NPL) son más bajos que en años anteriores, pero podrían aumentar rápida-mente a partir del segundo semestre de 2021, aunque con mayor seguridad en 2022. Los préstamos bancarios por valor de 23.200 millones de euros están sujetos actualmente a una moratoria motivada por la COVID-19 en España, Por-tugal y Grecia (White & Case), lo que vaticina una mayor actividad para final de año. Este escenario presenta importantes oportunidades para los profesionales del sector, quienes, reforzados por la tecnología adecuada, deberán operar con la mayor rapidez y eficiencia para cerrar estas transacciones.
DEALMAKER Q&Awww.TTRecord.com Monthly Report - May 2021TTR - Transactional Track Record
TTR: ¿Cómo seguirá impactando la COVID-19 el espacio de M&A este año?
A. O.: Como se ha mencionado anteriormente, cada día se vacuna a más personas en todo el mundo. Esto supone una gran noticia tanto para la economía mundial como para las empresas en general, ya que ayuda a mitigar la incertidumbre y la volatilidad del mercado. Sin embargo, esto no resta importancia al papel que ha adquirido la tecnología en la prestación de servicios, la interacción con los clientes y la continuidad de la actividad comercial.
Esperamos que más empresas recurran al M&A para fortalecer su infraestructura y competencias digitales. Al mismo tiempo, la pandemia también ha reforzado la atención en las líneas comerciales principales y muchas empresas considerarán la posibilidad de vender activos no esenciales. Además, esperamos cerrar un mayor volumen de transacciones este año, lo que puede suponer valoraciones más altas y una mayor competencia para los profesionales del sector, que deberán digitali-zar aún más el proceso de M&A si desean mantenerse por delante de la compe-tición y cerrar transacciones más rápidamente y con mayores probabilidades de éxito. Se está registrando además una gran actividad en el mercado laboral para los profesionales del M&A, una clara muestra de que la positividad ha llegado a estos mercados para quedarse, a pesar de cualquier reticencia que se presente ante el panorama actual de la COVID-19.
TTR: ¿Qué tipos de tecnologías tendrán el impacto más transformador para los profesionales del M&A?
A. O.: Cuando consultamos a los profesionales del sur de Europa para elaborar el informe «New State of M&A» sobre cómo esperan que la tecnología cambie el proceso de M&A en el futuro y qué supondrá un cambio más significativo para ellos, la mayoría afirmó que serán aquellas destinadas a acelerar la due diligen-ce por el claro aumento de información compartida y la necesidad de procesar, analizar y tomar acciones en tiempos cada vez más breves. Para ello, se necesitan herramientas de Inteligencia Artificial y Machine Learning que brinden la informa-ción más importante en la que deben concentrarse de una manera rápida y clara, acelerando así la toma de decisiones y la evaluación de oportunidades.
A. O.: When we asked dealmakers in Southern Europe (for our New State of M&A report) about how they expect technology will change the M&A process going forward, including what technology would have the most transformational impact for them, the majority said it will be new technologies and innovations around analytics – because the amount of and need for data has increased. They need machine learning and artificial intelligence to help them get the most important pieces of information that they should focus on.
We’ve seen this in terms of custom analytics and predicting buyer behavior – who engages and who doesn’t, who and how they interact with the due dili-gence materials that you provide to them. There’s a lot of work involved with predicting who you should engage with and how you’re going to finish the deal if you’re selling an asset. With regard to acquiring businesses, we’re starting to see fast adoption of Datasite Acquire, which helps automate the onboarding of data from the different workstreams associated with it. The pandemic has accelerated the trend towards digitization and the use of data analytics has in-creased. But it’s not only about working remotely; it’s also about a shift towards technology overall, from origination, to due diligence to deal closing.
TTR: What will be the main challenges in Spain for Datasite in 2021?
A. O.: The overall outlook remains extremely positive thanks to all the details sha-red previously. Not just for Spain, but in general for the M&A markets. Potential risk concerns remain on the horizon, though, as any negative news regarding vaccination rates or new COVID variants could quickly derail the current dealflow.
In particular for the Spanish market, besides COVID, potential inflation spikes are becoming an ever more prevalent opion/risk, which could impact M&A volumes, but as always, the type of impact whether negative or positive, will always depend on which side of the deal you are on.
Additionally, Real Estate and Tourism remain core sectors for the Spanish mar-ket. Further extensions of extraordinary government-backed credit terms could further delay M&A transactions, which could have otherwise started already.
DEALMAKER Q&Awww.TTRecord.com Monthly Report - May 2021TTR - Transactional Track Record
Hemos apreciado esta necesidad en lo referente a los análisis de información personalizados y la predicción del comportamiento del comprador: quién par-ticipa y quién no, quién interactúa con los materiales de due diligence y qué y cómo la realizan. Predecir con quién debes interactuar y cómo va a terminar la transacción si estás vendiendo un activo supone un gran volumen de trabajo. Sobre la adquisición de empresas, estamos empezando a apreciar una rápida adopción de Datasite Acquire, que automatiza la incorporación de datos de los diferentes flujos de trabajo asociados con una adquisición. La pandemia ha ace-lerado la tendencia hacia la digitalización y ha aumentado el análisis exhaustivo de información. No obstante, la digitalización no se limita al teletrabajo, sino que consiste en una adopción general de la tecnología, desde la retención de man-datos, al marketing de la operación y captura de ofertas, hasta la due diligence y el cierre de transacciones.
TTR: ¿Cuáles serán los principales retos para Datasite en España en 2021?
A. O.: Todos los datos presentados anteriormente arrojan unas perspectivas ge-nerales muy positivas en cuanto al nivel de operaciones se refiere, no solo para España, sino para la mayoría de los principales mercados de M&A en general. No obstante, todavía no han desaparecido las preocupaciones por los posibles riesgos sistémicos que puedan surgir, ya que cualquier noticia negativa sobre los ritmos de vacunación o las nuevas variantes de la COVID-19 podrían deses-tabilizar el volumen actual de mandatos.
En concreto, en el caso del mercado español, además de la COVID-19, los posibles picos de inflación son un riesgo cada vez más prevalente, lo que podría afectar a los volúmenes de operaciones de M&A; como siempre, que el impacto sea po-sitivo o negativo dependerá del lado de la transacción donde uno se encuentre.
Por último, los sectores inmobiliario y turístico siguen siendo esenciales para la economía española. Potenciales ampliaciones de las condiciones crediticias ex-traordinarias, Os, podrían retrasar aún más las reestructuraciones o proyectos de M&A en general que en otras condiciones ya habrían arrancado.
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INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
INDEX
OVERVIEW(M&A*, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS) **
· Total Transaction Volume and Aggregate Value· Transactions by Size· Leading Subsectors· Cross-border deals
PRIVATE EQUITY **· Total Transaction Volume and Aggregate Value· Leading Firms and Subsectors
VENTURE CAPITAL **· Total Transaction Volume and Aggregate Value· Leading Firms and Subsectors
ASSET ACQUISITION· Total Transaction Volume and Aggregate Value· Leading Subsectors
* Includes acquisition / sales of assets. Does not include Joint Venture. ** Includes announced and completed transactions in which at least one Spanish-based is involved.
*** Includes transactions acted by Spanish companies in or abroad.
EQUITY CAPITAL MARKETS ***· IPOs
· Follow-On
LARGEST TRANSACTIONS OF THE MONTH· Mergers & Acquisitions· Private Equity
· Venture Capital
DEAL OF THE MONTHAtrys Health acquires 99.75% of ASPY
TTR RADAR· Forward-looking Intelligence:
- Aggregated Intelligence- Proprietary Intelligence
RANKING YEAR TO DATE· Financial Advisors· Legal Advisors· Dealmakers
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE
YEAR TO DATE
Total aggregate value (EURm): 48.273 17,63%
Number of transactions: 954 13,44%
Completed: 826 (87%)
Disclosed value: 391 (41%)
M&A Private Equity
- Total: 373 | 36.882 EURm - Ongoing: 66 | 34.360 EURm
- Completed: 307 | 2.522 EURm
- Total: 90 | 4.734 EURm - Ongoing: 24 | 3.968 EURm
- Completed: 66 | 766 EURm
Venture Capital Asset Acquisition
- Total: 220 | 2.581 EURm- Ongoing: 4 | 622 EURm
- Completed: 216 | 1.959 EURm
- Total: 274 | 4.076 EURm - Ongoing: 34 | 619 EURm - Completed: 240 | 3.457 EURm
DEAL FLOW SINCE 2020
31%
-13%
-14%
2%
10%
13%
24%
15%
% All the percentages represent a variation relative to the same period the previous year.
Total aggregate value (EURm) Number of transactions
Number of Transactions by Type
373
90220
274
Tota
l val
ue (E
URm
)
27.009,04
6.869,53
0k
25k
50k
Num
ber
of tr
ansa
ctio
ns
125196
243
111
213 188 214
319
172 205 230177 170
May
202
0
Jun
2020
Jul 2
020
Aug 2
020
Sep
2020
Oct 2
020
Nov
202
0
Dec
202
0
Jan
2021
Feb
2021
Mar
202
1
Apr 2
021
May
202
1
0
250
500
Last Four Years (Jan-Dec)
2.325
2.668
121.026
92.644
2020
2019
Last Four Years (Jan-Dec)
2.622
2.323
107.762
97.609
2018
2017
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURE CAPITAL
ASSET ACQUISITION
EQUITY CAPITAL MARKETS
LARGEST TRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
TRANSACTIONS BY SIZE
Number of transactions Total value
> EUR 500m
EUR 100m - EUR 500m
EUR 50m - EUR 100m
EUR 10m - EUR 50m
EUR 1m - EUR 10m
< EUR 1m
Con�dential Value / Not Disclosed
4,85% 4,66% 4,87% 4,03% 3,76%
3,62% 2,42% 4,40% 3,19% 3,46%
11,80%8,53%
9,78%9,53% 7,73%
14,08%
13,67%12,09% 14,57% 15,87%
11,29%
12,37% 11,80%15,37%
10,48%
52,76%56,52% 55,59%
51,70%57,27%
2017 2018 2019 2020 Year To Date
0
20
40
60
80
100
59,28%64,65%
52,79%
71,98% 72,15%
26,10%
24,89%
29,74%
17,84% 17,95%
6,13%4,29%
9,32%
4,42% 4,87%7,02% 4,74% 6,71% 4,64% 3,64%
2017 2018 2019 2020 Year To Date
0
20
40
60
80
100
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
LEADING SUBSECTORS *
Subsectors with most deals (M&A) **Change relative to the
same period in 2020
5%
11%
5%
13%
* TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate.** The transaction may appear in more than one subsector, given that the same entity may operate in multiple subsectors.
% All the percentages represent a variation relative to the same period the previous year.
Number of transactions Year to date
199
180
67
59
Real Estate
Technology
Financial and Insurance
Healthcare, Hygiene, Medical Aest…
Number of transactions this month
40
28
15
14
Real Estate
Technology
Healthcare, Hygiene, Medical Aest…
Internet
2017
619
287
190
164
Real Estate
Technology
Financial andInsurance
Internet
2018
750
327
192
169
Real Estate
Technology
Healthcare, H…
Internet
2019
670
393
193
149
Real Estate
Technology
Financial andInsurance
Consultancy,Audit and
Engineering
2020
499
423
164
153
Real Estate
Technology
Financial andInsurance
Healthcare, H…
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
CROSS-BORDER DEALS *
Number of transactions
2017 2018 2019 2020 2021 - Year to date
US-based acquirers of spanish companies 162 182 12,35% 189 3,85% 155 -17,99% 66 32,00%
Foreign acquisitions in the technology and internetsubsector 105 119 13,33% 135 13,45% 151 11,85% 65 6,56%
Foreign Private Equity and Venture Capital Funds investingin spanish companies 113 120 6,19% 120 - 102 -15,00% 42 23,53%
Since 2010
US-based companies are the mostacquisitive in the spanish market.
Internet and technology companies havebeen the most attractive to foreigninvestors by deal volume.
Domestic
Inbound acquisitions **
Outbound acquisitions ***
Sale of foreign subsidiaries ****
Divestment - Foreign-owned stake *****
2017 2018 2019 2020 2021 - Year to date
* Any M&A transaction that involves a buyer, seller or target based outside of Spain. ** Foreign companies acquiring Spanish-based targets. Since December 2018 this analysis includes acquisitions made by local subsidiaries of foreign entities.
*** Spanish-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Spanish-based entities.**** Spanish-based companies selling foreign subsidiaries. Since December 2018 this analysis includes sales made by foreign subsidiaries of Spanish-based entities.
***** Foreign companies selling interest in Spanish-based companies. Since December 2018 this analysis includes sales made by foreign subsidiaries of Spanish-based entities. % All the percentages represent a variation relative to the same period the previous year.
1.193
672
307
95
212
1.412
708
334
109170
1.357
762
364
97
215
1.241
676
270
101170
468
287
144
3365
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
CROSS-BORDER DEALS *
Year to date
OUTBOUND ACQUISITIONS
No. Total value (EURm)Total 144 14.202,00Ongoing 22 12.047,29Completed 122 2.154,70
INBOUND ACQUISITIONS
No. Total value (EURm)Total 287 27.321,35Ongoing 48 22.600,26Completed 239 4.721,09
Outbound acquisitions ***
Ranking per Country ****
TARGET COUNTRY No. Total value (EURm)
United States 27 4.322,06
Portugal 16 501,72
France 13 5.413,32
United Kingdom 12 169,37
Germany 10 137,74
Colombia 9 20,65
Italy 8 59,50
Mexico 7 557,48
Brazil 5 16,18
Chile 4 1.111,25
Inbound acquisitions **
Ranking per Country ****
BIDDER COUNTRY No. Total value (EURm)
United States 66 10.962,34
United Kingdom 58 4.875,02
France 47 6.531,42
Germany 25 1.585,78
Netherlands 17 355,60
Italy 17 101,75
Luxembourg 14 5.003,18
Sweden 14 552,05
Switzerland 14 80,49
Canada 8 357,00
* Any M&A transaction that involves a buyer, seller or target based outside of Spain. ** Foreign companies acquiring Spanish-based targets. Since December 2018 this analysis includes acquisitions made by local subsidiaries of foreign entities.
*** Spanish-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Spanish-based entities.**** The same deal may appear under multiple subsectors and countries based on a companies operations and the number of parties involved in a given transaction.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
CROSS-BORDER DEALS *
Year to date
OUTBOUND ACQUISITIONS
No. Total value (EURm)Total 144 14.202,00Ongoing 22 12.047,29Completed 122 2.154,70
INBOUND ACQUISITIONS
No. Total value (EURm)Total 287 27.321,35Ongoing 48 22.600,26Completed 239 4.721,09
Outbound acquisitions ***
Leading subsectors ****
US PT FR UK DE CO IT MX BR CL
Technology 6 2 3 5 4 2 1 2 1 1
Internet 3 1 3 1 1
Financial and Insurance 2 2 2 2 1 2
Real Estate 3 2 3 1 1
Consultancy, Audit and Engineering 1 1 1 1 1
Healthcare, Hygiene, Medical Aesthetics and Cosmetics 3 1 1 1
Telecoms 3 1 1
Other Services 2 1 1
Solar 3 1 1 1 1 1
Pharmaceutical, Parapharmaceutical and Cosmetics 2 1 1 1
Inbound acquisitions **
Leading subsectors ****
US UK FR DE NL IT LU SE CH CA
Real Estate 11 13 10 13 2 3 3 2 1
Technology 18 7 9 2 2 6 3 2 4 2
Solar 1 8 2 1 6 2 1 3
Healthcare, Hygiene, Medical Aesthetics and Cosmetics 5 5 6 3 1 1 1
Financial and Insurance 5 3 4 3 2 1 2 1
Internet 11 7 3 4 2 3 1
Food 3 2 4 1 1
Distribution and Retail 4 2 3 1 1 1 1
Consultancy, Audit and Engineering 1 3 3 1 1 1 1
Glass, Ceramic, Paper, Plastics, Wood and Timber 5 1 1 1 1 1
* Any M&A transaction that involves a buyer, seller or target based outside of Spain. ** Foreign companies acquiring Spanish-based targets. Since December 2018 this analysis includes acquisitions made by local subsidiaries of foreign entities.
*** Spanish-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Spanish-based entities.**** The same deal may appear under multiple subsectors and countries based on a companies operations and the number of parties involved in a given transaction.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
PRIVATE EQUITY
TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE
YEAR TO DATE
Total aggregate value (EURm): 4.734 -21,25%
Number of transactions: 90 47,54%
Completed: 66 (73%)
Disclosed value: 21 (23%)
Domestic Cross-border
- Total: 28 | 41 EURm - Ongoing: 4 | 0 EURm - Completed: 24 | 41 EURm
- Total: 62 | 4.693 EURm - Ongoing: 20 | 3.968 EURm
- Completed: 42 | 725 EURm
LAST FOUR YEARS (JAN-DEC)
-38%
-24%
2%
1%
-31%
15%
185%
34%
-31%
-18%
101%
-14%
-18%
31%
108%
32%
-38%
-27%
-2%
11%
-31%
6%
187%
35%
% All the percentages represent a variation relative to the same period the previous year.
Total aggregate value (EURm) Number of transactions
Scope
28
62
Total
216
285
19.851
31.995
2020
2019
Total
282
245
31.511
45.451
2018
2017
Domestic
80
98
1.306
1.890
2020
2019
Domestic
114
87
938
1.147
2018
2017
Cross-border
136
187
18.546
30.104
2020
2019
Cross-border
168
158
30.573
44.304
2018
2017
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
PRIVATE EQUITY - Investment
LEADING FIRMS AND SUBSECTORS *
Year to dateChange relative to the
same period in 2020
200%
200%
80%
600%
Private Equity Country NºValue
(EURm)
1 Providence Equity Partners UnitedStates
7 1.995,47
2 KKRUnitedStates
5 2.489,22
3 CinvenUnitedKingdom
4 1.995,47
4 PAI Partners France 3 30,00
5 Meridia Capital Spain 3 9,35
6 Magnum Capital Spain 3 -
7 Inveready Capital Spain 2 10,00
8 BlackstoneUnitedStates
2 -
8 CarlyleUnitedStates
2 -
8 CVC Capital Partners Luxembourg 2 -
8 Miura Partners Spain 2 -
8 Moira Capital Partners Spain 2 -
8 Nazca Capital Spain 2 -
8 ProA Capital Spain 2 -
8 Sherpa Capital Spain 2 -
12
9
9
7
Technology
Consultancy, Audit andEngineering
Healthcare, Hygiene,Medical Aesthetics and
Cosmetics
Food
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
PRIVATE EQUITY - Divestment (Exits)
LEADING FIRMS AND SUBSECTORS *
Year to dateChange relative to the
same period in 2020
-
200%
-
100%
Private Equity Country Nº Value (EURm)
Spain 3 355,00
Sweden 2 425,00
Spain 2 100,00
Spain 1 320,00
Spain 1 130,00
1 Magnum Capital
2 EQT
3 Miura Partners
4 Artá Capital
5 Corp n Capital
6 Santander Energías Renovables I Spain 1 84,19
6 Taiga Mistral Gestión 1 84,19
7 Espiga Capital Spain 1 48,00
8 Everwood Capital Spain 1 22,00
* TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate.
4
3
3
2
Food
Glass, Ceramic, Paper,Plastics, Wood and
Timber
Consultancy, Audit andEngineering
Internet
2017
7
6
6
5
Glass, Cera…
Transport,Aviation and
Logistics
Real Estate
Technology
2018
10
6
6
5
Financial andInsurance
Real Estate
Distributionand Retail
Transport,Aviation and
Logistics
2019
11
9
6
6
Solar
Financial andInsurance
Food
Consultancy,Audit and
Engineering
2020
5
5
5
4
Solar
Financial andInsurance
Glass, Cera…
Telecoms
Spain
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
VENTURE CAPITAL
TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE
YEAR TO DATE
Total aggregate value (EURm): 2.581 -24,71%
Number of transactions: 220 14,58%
Completed: 216 (98%)
Disclosed value: 174 (79%)
Domestic Cross-border
- Total: 126 | 130 EURm- Ongoing: 1 | 1 EURm
- Completed: 125 | 129 EURm
- Total: 94 | 2.451 EURm - Ongoing: 3 | 621 EURm - Completed: 91 | 1.830 EURm
LAST FOUR YEARS (JAN-DEC)
280%
9%
4%
16%
46%
22%
-2%
23%
-13%
10%
75%
14%
20%
21%
-3%
20%
338%
8%
-4%
20%
49%
22%
-2%
29%
% All the percentages represent a variation relative to the same period the previous year.
Total aggregate value (EURm) Number of transactions
Scope
126
94
Total
565
517
8.409
2.213
2020
2019
Total
447
367
2.129
1.462
2018
2017
Domestic
367
334
322
368
2020
2019
Domestic
294
242
211
176
2018
2017
Cross-border
197
183
8.086
1.844
2020
2019
Cross-border
153
125
1.918
1.286
2018
2017
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
VENTURE CAPITAL - Investment
LEADING FIRMS AND SUBSECTORS *
Year to dateChange relative to the
same period in 2020
6%
-3%
41%
29%
Venture Capital Country NºValue
(EURm)
1 Wayra Spain 11 5,50
2 Banco Sabadell Spain 9 52,99
3 Inveready Capital 9 14,77
4 Sodena Spain 9 4,44
5 GoHub Spain 8 2,33
6 Innvierte Economía Sostenible Spain 7 20,56
7 Encomenda Smart Capital Spain 7 11,60
8 Seaya Ventures Spain 6 551,61
* TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate.
103
33
24
22
Technology
Internet
Biotechnology
Financial and Insurance
2017
169
109
27
27
Technology
Internet
Financial andInsurance
Distributionand Retail
2018
198
118
31
26
Technology
Internet
Financial andInsurance
Biotechnology
2019
239
97
54
37
Technology
Internet
Financial andInsurance
Biotechnology
2020
263
87
68
45
Technology
Internet
Biotechnology
Financial andInsurance
Spain
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
VENTURE CAPITAL - Divestment (Exits)
LEADING FIRMS AND SUBSECTORS *
Year to dateChange relative to the
same period in 2020
400%
-
-
Venture Capital Country Nº Value (EURm)
1 Bonsai Venture Capital Spain 2 249,23
2 Nauta Capital Spain 1 371,38
3 Alma Mundi Ventures Spain 1 249,23
3 Craft Ventures United States 1 249,23
4 Realiza Business Angels Spain 1 14,00
5 360 Capital Partners France 1 -
5 Angels Capital Spain 1 -
5 Axon Partners Group Spain 1 -
5 Bewater Funds Spain 1 -
5 Breega Capital France 1 -
5 BSF 16 Spain 1 -
5 Gorla Ventures Spain 1 -
5 Idinvest Partners France 1 -
5 JME Venture Capital Spain 1 -
5 Kibo Ventures Spain 1 -
5 Lánzame Capital Spain 1 -
5 Ricari Spain 1 -
5 Sabadell Venture Capital Spain 1 -
5 Samaipata Ventures Spain 1 -
5 Sputnik Ventures Spain 1 -
5 VenturCap Spain 1 -
5
2
2
1
Technology
Internet
Healthcare, Hygiene,Medical Aesthetics and
Cosmetics
Financial and Insurance
-
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
ASSET ACQUISITION
TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE
YEAR TO DATE
Total aggregate value (EURm): 4.076 25,83%
Number of transactions: 274 12,30%
Completed: 240 (88%)
Disclosed value: 105 (38%)
Domestic Cross-border
- Total: 139 | 576 EURm - Ongoing: 10 | 17 EURm - Completed: 129 | 559 EURm
- Total: 135 | 3.499 EURm - Ongoing: 24 | 601 EURm - Completed: 111 | 2.898 EURm
LAST FOUR YEARS (JAN-DEC)
19%
-24%
20%
-3%
73%
14%
-44%
20%
-62%
-26%
90%
-13%
-0%
27%
28%
19%
58%
-22%
2%
15%
112%
-3%
-57%
21%
% All the percentages represent a variation relative to the same period the previous year.
Total aggregate value (EURm) Number of transactions
Scope
139135
Total
638
843
23.944
20.039
2020
2019
Total
867
761
16.699
9.680
2018
2017
Domestic
347
468
2.421
6.441
2020
2019
Domestic
540
425
3.388
3.389
2018
2017
Cross-border
291
375
21.523
13.598
2020
2019
Cross-border
327
336
13.312
6.290
2018
2017
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
ASSET ACQUISITION
LEADING SUBSECTORS *
Year to dateChange relative to the
same period in 2020
2%
167%
62%
20%
* TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate.
168
24
21
12
Real Estate
Solar
Tourism, Hotels andRestaurants
Financial and Insurance
2017
521
68
63
26
Real Estate
Tourism, Hotelsand
Restaurants
Financial andInsurance
Food
2018
664
60
53
43
Real Estate
Healthcare, …
Tourism, Hotelsand
Restaurants
Financial andInsurance
2019
581
59
47
35
Real Estate
Tourism, Hotelsand
Restaurants
Financial andInsurance
Solar
2020
418
47
29
27
Real Estate
Solar
Financial andInsurance
Healthcare, …
Total aggregate value (EURm)
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
EQUITY CAPITAL MARKETSIPOs *
Year to date
FOLLOW-ON *
Year to date
Completed Pipeline
-74%
-22%
16%
-7%
-76%
4%
23%
-
42%
-8%
93%
13%
-65%
-13%
76%
24%
% All the percentages represent a variation relative to the same period the previous year. Number of transactions
* Includes transactions acted by Spanish companies in Spain or abroad.
Number of transactions
5
3
Total Value (EURm)
1.575
0
Number of transactions
11
9
Total Value (EURm)
8.653
1.419
Last Four Years (Jan-Dec)
21
27
29
28
258
1.001
866
3.684
2020
2019
2018
2017
Last Four Years (Jan-Dec)
47
51
45
52
9.280
6.547
3.391
9.563
2020
2019
2018
2017
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
LARGEST TRANSACTIONS OF THE MONTH
MERGERS & ACQUISITIONS
Target Country Subsector Buyer SellerValue
(EURm)
Avangrid UnitedStates
Electric Hyde Member, Iberdrola - 3.313,45
Montepino Logística Spain Real Estate Bankinter CBRE Global Investors, Valfondo Inmuebles 1.200,00 (Approx.)
SPV propietaria 19 hoteles SpainTourism,Hotels andRestaurants
RIU Hotels & Resorts TUI Group670,00
(Approx.)
Bruc Energy Spain Solar USS Investment Management Bruc OPT Energy Partners 232,45
Activos de negocio de entrega decomida a domicilio en Croacia, Negociode entrega de comida a domicilio enBosnia y Herzegovina, Negocio deentrega de comida a domicilio enBulgaria, Negocio de entrega de comidaa domicilio en Montenegro, Negocio deentrega de comida a domicilio enRumanía, Negocio de entrega decomida a domicilio en Serbia
Bosnia andHerzegovina,Bulgaria,Croatia,Montenegro,Romania,Serbia
Distributionand Retail
Glovo Delivery Hero 170,00
PRIVATE EQUITY
Target Country Subsector Buyer SellerValue
(EURm)
Retelit Italy Telecoms Marbles (Asterion Industrial Partners) Private Shareholders I 333,57 (Approx.)
The Reefer Group FranceTransport,Aviation andLogistics
Bpifrance, Amundi Private Equity Funds, Unexo, Ouest Croissance, NCI,Caisse d’Epargne Normandie Capital, Sodero Gestion, NormandieParticipations, Picardie Investissement
Miura Partners100,00
(Approx.)
Orgoa Spain OtherServices
Gaea Inversión 10,00
Classpack SpainOtherConsumerGoods
Capital Expansió II (ICF Capital) 1,00
andCosmetics
Uncapped UnitedKingdom
Financial andInsurance
Lakestar, SeedCamp, Global Founders Capital, White Star Capital, All IronVentures, Mouro Capital
65,52
Impress Spain
Healthcare,Hygiene,MedicalAestheticsandCosmetics
Private Shareholders I, TA Ventures, Sabadell Venture Capital, CareCapital(Hillhouse Capital Group), Bynd Venture Capital, Nikolimax Investments,Nickleby Capital, UNIQA Ventures
41,17
Cytoki Denmark Biotechnology Private Shareholders I, Ysios Capital Partners, Seventure Partners,Lundbeckfonden Ventures, +ND Capital
37,46
Matera France Real Estate Index Ventures, Bpifrance, Samaipata Ventures, Mubadala Capital, BurdaPrincipal Investments
35,21
VENTURE CAPITAL
Target Country Subsector Buyer SellerValue(EURm)
Binx Health UnitedStates
Healthcare,Hygiene,MedicalAesthetics
Private Shareholders I, Johnson & Johnson Innovation, OrbiMed, Alta LifeSciences, LSP, ArrowMark Partners, Hildred Capital Management, ParianGlobal Management
85,26
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURE CAPITAL
ASSET ACQUISITION
EQUITY CAPITAL MARKETS
LARGEST TRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
DEAL OF THE MONTH
January
Target:
Activos tecnológicosespecializados del negociode servicios de pago paracomercios
Buyer: Banco Santander
Value: EUR 100,00m
February
Target: Idealista
Buyer: Apax Partners
Value: EUR 250,00m
March
Target: Bankia
Buyer: CaixaBank
Value: EUR 4.300,00m(Approx.)
April
Target:
SPV Propietaria Red 7.000Emplazamientos deTelecomunicaciones enPolonia
Buyer: Cellnex Telecom
Value: EUR 800,00m
May
Target: ASPY
Buyer: Atrys Health
Value: EUR 223,27m(Approx.)
ASPYAtrys Health acquires 99.75% of ASPY
Full Transaction Details
PartiesTarget: ASPY
Description: Provider of occupational risk prevention services.
Buyer %
Atrys Health 99,36%
Seller %
Private Shareholders I 99,36%
FINANCIAL DATA
Total Value Payment
EUR 223,27m (Approx.) (Cash) EUR 3,60m(Shares) EUR 219,67m
Advisors / Due DiligenceParties Legal Advisory People
Atrys Health Gómez-Acebo & Pombo España Guillermo Guerra Martín (Partner), Jacobo Palanca Reh (Associate), José Francisco Canalejas Merín (Associate)
Atrys Health Pinsent Masons España Idoya Arteagabeitia (Partner), Inmaculada Castelló Bernabeu (Partner), Jacobo Otero Moyano (Senior Associate), Rafael Durán Frías (Senior Associate), Helen Stewart (Associate)
ASPY Garrigues España Naiara Bueno (Partner), Arturo Noguer Lloret (Associate), Alejandro Ramón Contreras (Junior Associate)
Parties Fairness Opinion People
ASPY EY España (Ernst & Young)
June
Target:
Buyer:
Value:
July
Target:
Buyer:
Value:
August
Target:
Buyer:
Value:
September
Target:
Buyer:
Value:
October
Target:
Buyer:
Value:
November
Target:
Buyer:
Value:
December
Target:
Buyer:
Value:
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
TTR RADAR
FORWARD-LOOKING INTELLIGENCE
Opportunities by Intelligence Type and Volume - May 2021
Identify early stage M&Aopportunities with TTR
Radar, deliveringactionable proprietary and
aggregated intelligence.
TTR RADARAggregated Intelligence
Swap�ets entersBarcelona, plans new
openings in Spain
TTR RADARProprietary Intelligence
eStragy planning newfunding round to expandto Portugal, Brazil and the
US
Acquisition Finance Advisory Appointment
Asset Sale/Acquisition
Auction
Business Expansion
Capital Increase/Funding Round
Changes in Control
Companies for Sale
Companies Looking for Investor..
Companies Looking to Buy
Crowdfunding
Distressed/Restructuring
Family-owned/Closely Held
Follow-on Issuance
Foreign Direct Investment (FDI..High GrowthJoint Venture
Market Entry
Market Exit
New Business Vertical
New Mandate Opportunity
New PE/VC funds
Partnerships & Alliances
pre-IPO
Private Equity
Private Equity Exit
Project Finance
Startup Acceleration
Strategic Management Change
Trends
Venture Capital
0
20
40
60
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
Financial AdvisorsLegal Advisors
Dealmakers
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Consultants: Financial Advisors + Due DiligenceBy total value of transactions
Ranking2021
Consultants Total value(EURm)
Number oftransactions
Ranking2020
Variation Total value (%)
1 PwC España 12.741,64 24 2 300,57
2 EY España (Ernst & Young) 8.622,48 30 3 634,35
3 Deloitte España 6.002,45 13 1 -74,66
4 KPMG España 189,00 11 4 -61,46
By nº of transactions
Ranking2021
Consultants Number oftransactions
Total value(EURm)
Ranking2020
Variation nº Of transactions
1 EY España (Ernst & Young) 30 8.622,48 3 13
2 PwC España 24 12.741,64 1 -5
3 Deloitte España 13 6.002,45 2 -10
4 KPMG España 11 189,00 4 -5
5 BDO (España) 1 - 5 0
5 Grant Thornton (España) 1 - * *
Consultants: Financial AdvisorsBy total value of transactions
Ranking2021
Consultants Total value(EURm)
Number oftransactions
Ranking2020
Variation Total value (%)
1 PwC España 12.591,64 21 2 295,85
2 EY España (Ernst & Young) 8.093,35 17 4 2.238,05
3 Deloitte España 6.002,45 9 1 -74,66
4 KPMG España 59,00 7 3 -87,97
By nº of transactions
Ranking2021
Consultants Number oftransactions
Total value(EURm)
Ranking2020
Variation nº Of transactions
1 PwC España 21 12.591,64 1 -7
2 EY España (Ernst & Young) 17 8.093,35 4 4
3 Deloitte España 9 6.002,45 2 -14
4 KPMG España 7 59,00 3 -8
5 BDO (España) 1 - * *
5 Grant Thornton (España) 1 - * *
Consultants: Due DiligenceBy total value of transactions
Ranking2021
Consultants Total value(EURm)
Number oftransactions
Ranking2020
Variation Total value (%)
1 EY España (Ernst & Young) 8.533,48 26 2 687,05
2 PwC España 7.136,37 17 1 210,31
3 Deloitte España 232,45 5 * *
4 KPMG España 130,00 4 3 -61,76
By nº of transactions
Ranking2021
Consultants Number oftransactions
Total value(EURm)
Ranking2020
Variation nº Of transactions
1 EY España (Ernst & Young) 26 8.533,48 1 11
2 PwC España 17 7.136,37 2 4
3 Deloitte España 5 232,45 * *
4 KPMG España 4 130,00 3 0
Consultants: Legal AdvisorsBy total value of transactions By nº of transactions
Ranking2021
Consultants Total value(EURm)
Number oftransactions
Ranking Variation2020 Total value (%)
1 PwC Tax & Legal España 5.212,30 5 1 152,75
2 EY Abogados España 44,35 6 4 *
3 Deloitte Legal 1,40 4 2 -99,84
Ranking2021
Consultants Number oftransactions
Total value(EURm)
Ranking Variation nº2020 Of transactions
1 EY Abogados España 6 44,35 4 5
2 PwC Tax & Legal España 5 5.212,30 1 -9
3 Deloitte Legal 4 1,40 2 -9
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Financial Advisors
By total value of transactions
Ranking 2021 Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 BNP Paribas 7.585,47 3 12 2.018,85 7.195,47 390,00
2 J.P. Morgan Chase International Holdings 7.352,47 5 3 -67,47 5.200,00 2.152,47
3 Citigroup 6.916,87 2 1 -69,83 - 6.916,87
4 AZ Capital 6.855,37 6 5 313,67 6.796,37 59,00
5 Credit Suisse Group 4.921,40 1 * * 4.921,40 -
6 Barclays Bank 1.995,47 1 * * 1.995,47 -
6 Goldman Sachs 1.995,47 1 * * 1.995,47 -
7 Astris Finance 1.104,67 1 * * 1.104,67 -
7 Banco BTG Pactual 1.104,67 1 33 * - 1.104,67
7 JPMorgan Chase & Co. 1.104,67 1 * * - 1.104,67
8 FTI Consulting 500,00 1 * * 500,00 -
9 Banco Itaú BBA 493,75 1 * * 493,75 -
10 Rothschild 450,00 3 33 * 130,00 320,00
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Financial Advisors
By nº of transactions
Ranking 2021 Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 AZ Capital 6 6.855,37 2 2 5 1
2 J.P. Morgan Chase International Holdings 5 7.352,47 16 4 3 2
3 Arcano Partners 5 150,00 3 1 1 4
4 Norgestión 4 15,00 * * 1 3
5 BNP Paribas 3 7.585,47 20 2 2 1
6 Rothschild 3 450,00 33 2 1 2
7 Mediobanca 3 333,57 10 1 2 1
8 Socios Financieros 3 150,00 * * 2 1
9 BBVA 3 26,40 11 1 2 1
10 You are Capital 3 - 15 1 - 3
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Legal Advisors
By total value of transactions
Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Allen & Overy Spain 9.847,45 9 2 -60,97 8.252,45 1.595,00
2 Cli�ord Chance 9.591,84 9 1 -62,21 4.011,84 5.580,00
3 Garrigues España 8.371,26 34 7 257,54 8,10 8.363,16
4 Cuatrecasas España 6.553,09 34 6 173,66 6.271,15 281,94
5 Linklaters Spain 6.193,85 8 5 114,32 5.961,40 232,45
6 Herbert Smith Freehills Spain 5.585,00 6 3 -75,39 5.230,00 355,00
7 Pérez-Llorca 4.994,44 32 4 72,15 189,78 4.804,66
8 Fresh�elds Bruckhaus Deringer España 4.921,40 2 42 * - 4.921,40
9 Uría Menéndez España 3.844,10 21 9 78,43 1.346,63 2.497,47
10 Evergreen Legal 2.005,47 3 * * 2.005,47 -
By nº of transactions
Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Garrigues España 34 8.371,26 1 -12 17 17
2 Cuatrecasas España 34 6.553,09 2 -3 19 15
3 Pérez-Llorca 32 4.994,44 5 9 12 20
4 Uría Menéndez España 21 3.844,10 6 0 18 3
5 Gómez-Acebo & Pombo España 18 253,92 4 -7 14 4
6 DLA Piper España 15 86,00 14 8 12 3
7 DWF-RCD 14 191,78 3 -13 7 7
8 CMS Albiñana & Suárez de Lezo 11 803,00 22 7 9 2
9 Allen & Overy Spain 9 9.847,45 7 -4 5 4
10 Cli�ord Chance 9 9.591,84 8 -2 5 4
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
PRIVATE EQUITY
Financial Advisors
By total value of transactions
Ranking 2021 Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Barclays Bank 1.995,47 1 * * 1.995,47 -
1 BNP Paribas 1.995,47 1 * * 1.995,47 -
1 Citigroup 1.995,47 1 * * - 1.995,47
1 Goldman Sachs 1.995,47 1 * * 1.995,47 -
1 J.P. Morgan Chase International Holdings 1.995,47 1 * * - 1.995,47
2 Banco Itaú BBA 493,75 1 * * 493,75 -
3 Rothschild 450,00 3 * * 130,00 320,00
4 Mediobanca 333,57 1 * * 333,57 -
5 Perella Weinberg Partners 205,00 1 * * 205,00 -
6 Arcano Partners 150,00 2 5 * - 150,00
6 Socios Financieros 150,00 2 * * 150,00 -
7 Amala Partners 100,00 1 * * - 100,00
7 Natixis 100,00 1 * * - 100,00
7 Pretium Partners 100,00 1 * * 100,00 -
8 Altamar Capital Partners 48,00 1 * * - 48,00
9 AZ Capital 30,00 2 * * 30,00 -
10 Baker Tilly (Iberia) 15,00 1 * * - 15,00
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
PRIVATE EQUITY
Financial Advisors
By nº of transactions
Ranking 2021 Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Rothschild 3 450,00 * * 1 2
2 Arcano Partners 2 150,00 1 -1 - 2
2 Socios Financieros 2 150,00 * * 2 -
3 AZ Capital 2 30,00 * * 2 -
4 Banco Sabadell 2 - * * 1 1
5 Barclays Bank 1 1.995,47 * * 1 -
5 BNP Paribas 1 1.995,47 * * 1 -
5 Citigroup 1 1.995,47 * * - 1
5 Goldman Sachs 1 1.995,47 * * 1 -
5 J.P. Morgan Chase International Holdings 1 1.995,47 * * - 1
6 Banco Itaú BBA 1 493,75 * * 1 -
7 Mediobanca 1 333,57 * * 1 -
8 Perella Weinberg Partners 1 205,00 * * 1 -
9 Amala Partners 1 100,00 * * - 1
9 Natixis 1 100,00 * * - 1
9 Pretium Partners 1 100,00 * * 1 -
10 Altamar Capital Partners 1 48,00 * * - 1
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
PRIVATE EQUITY
Legal Advisors
By total value of transactions
Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Uría Menéndez España 2.397,47 7 2 136,29 402,00 1.995,47
2 Pérez-Llorca 2.229,66 7 1 102,70 - 2.229,66
3 Evergreen Legal 2.005,47 2 * * 2.005,47 -
4 Cli�ord Chance 1.995,47 2 6 334,13 1.995,47 -
5 Castañeda Abogados 1.995,47 1 * * 1.995,47 -
6 Allen & Overy Spain 745,00 3 7 67,42 320,00 425,00
7 Latham & Watkins España 493,75 2 8 174,30 - 493,75
8 Herbert Smith Freehills Spain 385,00 6 16 * 30,00 355,00
9 King & Wood Mallesons España 320,00 4 12 6.299,96 - 320,00
10 Cuatrecasas España 205,00 9 9 62,25 205,00 -
By nº of transactions
Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Cuatrecasas España 9 205,00 3 3 7 2
2 Uría Menéndez España 7 2.397,47 5 3 5 2
3 Pérez-Llorca 7 2.229,66 6 4 3 4
4 Garrigues España 7 - 1 0 6 1
5 Herbert Smith Freehills Spain 6 385,00 16 5 2 4
6 King & Wood Mallesons España 4 320,00 9 1 - 4
7 DLA Piper España 4 15,00 12 2 3 1
8 Allen & Overy Spain 3 745,00 11 1 1 2
9 CMS Albiñana & Suárez de Lezo 3 68,00 7 0 3 -
10 Baker McKenzie España 3 - 8 0 1 2
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
VENTURE CAPITAL
Financial Advisors
By total value of transactions
Ranking 2021 Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Macquarie Group 371,38 1 * * - 371,38
2 J.P. Morgan Chase International Holdings 157,00 1 * * - 157,00
3 Torreya Partners 85,26 1 * * - 85,26
4 Clair�eld International 1,00 1 * * - 1,00
4 Delvy Asesores Legales 1,00 1 * * - 1,00
5 Lift 0,75 1 * * - 0,75
By nº of transactions
Ranking 2021 Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Norgestión 2 - * * - 2
2 Macquarie Group 1 371,38 * * - 1
3 J.P. Morgan Chase International Holdings 1 157,00 * * - 1
4 Torreya Partners 1 85,26 * * - 1
5 Clair�eld International 1 1,00 * * - 1
5 Delvy Asesores Legales 1 1,00 * * - 1
6 Lift 1 0,75 * * - 1
7 Capital & Gestión 1 - * * - 1
7 CDI Global Iberia 1 - * * - 1
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
VENTURE CAPITAL
Legal Advisors
By total value of transactions
Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Latham & Watkins España 483,00 2 * * 483,00 -
2 Cuatrecasas España 469,88 4 24 * 455,88 14,00
3 Cli�ord Chance 450,00 1 * * 450,00 -
4 Osborne Clarke Spain 157,50 3 11 1.868,74 157,00 0,50
5 Uría Menéndez España 157,00 2 * * - 157,00
6 Hogan Lovells España 157,00 1 * * 157,00 -
7 Bird & Bird España 100,00 1 7 419,48 - 100,00
7 White & Case España 100,00 1 * * 100,00 -
8 Pérez-Llorca 79,78 1 5 235,21 79,78 -
9 DWF-RCD 43,54 17 2 -23,30 15,51 28,03
10 Gómez-Acebo & Pombo España 19,50 3 3 -27,48 3,00 16,50
By nº of transactions
Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 DWF-RCD 17 43,54 1 -13 7 10
2 Lexcrea 8 11,70 7 -1 2 6
3 Lawesome 6 3,94 10 1 2 4
4 Garrigues España 5 3,70 6 -5 5 -
5 Cuatrecasas España 4 469,88 24 3 2 2
6 Across Legal 4 12,12 3 -9 1 3
7 Andersen España 4 1,50 * * 2 2
8 Osborne Clarke Spain 3 157,50 11 0 1 2
9 Gómez-Acebo & Pombo España 3 19,50 8 -3 1 2
10 Delvy Asesores Legales 3 4,50 * * - 3
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
EQUITY CAPITAL MARKETS
Banks
By total value of transactions
Ranking 2021 Bank Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
1 Morgan Stanley 8.497,85 2 * *
2 BNP Paribas 7.298,33 2 * *
3 Société Générale Group 7.198,85 3 * *
4 Barclays Bank 7.102,85 2 * *
4 BBVA 7.102,85 2 * *
5 Banco Santander 7.098,85 3 * *
6 Banco Sabadell 7.097,85 2 * *
6 CaixaBank 7.097,85 2 2 31.657,68
6 Crédit Agricole Corporate and Investment Bank 7.097,85 2 1 846,38
7 J.P. Morgan Chase International Holdings 6.997,85 2 1 833,05
8 Deutsche Bank 6.997,85 1 * *
8 Goldman Sachs 6.997,85 1 * *
8 ING 6.997,85 1 * *
8 Intesa San Paolo 6.997,85 1 * *
8 Mediobanca 6.997,85 1 * *
8 Mizuho Bank 6.997,85 1 * *
8 MUFG Bank 6.997,85 1 * *
8 Natixis 6.997,85 1 * *
8 Unicredit 6.997,85 1 * *
9 Citigroup 1.500,00 1 1 100,00
10 Berenberg Bank 724,68 2 * *
10 BofA Securities Europe 724,68 2 * *
This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
EQUITY CAPITAL MARKETS
Banks
By nº of transactions
Ranking 2021 Bank Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
1 Société Générale Group 3 7.198,85 * *
2 Banco Santander 3 7.098,85 * *
3 Morgan Stanley 2 8.497,85 * *
4 BNP Paribas 2 7.298,33 * *
5 Barclays Bank 2 7.102,85 * *
5 BBVA 2 7.102,85 * *
6 Banco Sabadell 2 7.097,85 * *
6 CaixaBank 2 7.097,85 2 1
6 Crédit Agricole Corporate and Investment Bank 2 7.097,85 1 1
7 J.P. Morgan Chase International Holdings 2 6.997,85 1 1
8 Berenberg Bank 2 724,68 * *
8 BofA Securities Europe 2 724,68 * *
9 Deutsche Bank 1 6.997,85 * *
9 Goldman Sachs 1 6.997,85 * *
9 ING 1 6.997,85 * *
9 Intesa San Paolo 1 6.997,85 * *
9 Mediobanca 1 6.997,85 * *
9 Mizuho Bank 1 6.997,85 * *
9 MUFG Bank 1 6.997,85 * *
9 Natixis 1 6.997,85 * *
9 Unicredit 1 6.997,85 * *
10 Citigroup 1 1.500,00 1 0
This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
EQUITY CAPITAL MARKETS
Legal Advisors
By total value of transactions
Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
1 Uría Menéndez España 8.497,85 2 * *
2 Linklaters Spain 7.522,05 3 1 902,94
3 DLA Piper España 1.500,00 2 * *
4 King & Wood Mallesons España 1.500,00 1 * *
5 Garrigues España 1.456,58 3 * *
6 Pérez-Llorca 1.099,00 3 * *
7 Gómez-Acebo & Pombo España 261,73 2 * *
8 Pinsent Masons España 223,84 1 * *
9 Cuatrecasas España 101,00 3 2 -57,22
10 Latham & Watkins España 100,00 1 * *
By nº of transactions
Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
1 Linklaters Spain 3 7.522,05 2 2
2 Garrigues España 3 1.456,58 * *
3 Pérez-Llorca 3 1.099,00 * *
4 Cuatrecasas España 3 101,00 1 -4
5 Uría Menéndez España 2 8.497,85 * *
6 DLA Piper España 2 1.500,00 * *
7 Gómez-Acebo & Pombo España 2 261,73 * *
8 King & Wood Mallesons España 1 1.500,00 * *
9 Pinsent Masons España 1 223,84 * *
10 Latham & Watkins España 1 100,00 * *
This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Dealmakers - Financial Advisor
By total value of transactions
Ranking 2021 Dealmakers - Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Rafael Villas Boas Estrela (Astris Finance) 1.104,67 1 * * 1.104,67 -
1 Tobey S. Collins (Astris Finance) 1.104,67 1 * * 1.104,67 -
2 Jean-Baptiste Marchand (Amala Partners) 100,00 1 * * - 100,00
2 Bénédicte Leneveu (Pretium Partners) 100,00 1 * * 100,00 -
3 Luis Antonio Ortiz Otero (RIóN M&A - Global M&A México) 25,27 1 * * - 25,27
3 Luis David (RIóN M&A - Global M&A México) 25,27 1 * * - 25,27
3 Martin Plettner (RIóN M&A - Global M&A México) 25,27 1 * * - 25,27
4 Oscar Sánchez Melgosa (Norgestión) 12,00 2 * * 12,00 -
5 Ignacio Moliner (CaixaBank Corporate Finance) 10,00 1 1 -98,18 - 10,00
6 Joshua Novick (Bondo Advisors) 5,20 2 * * 5,20 -
6 Pablo Pérez García Villoslada (Bondo Advisors) 5,20 2 * * 5,20 -
7 Alberto Álvarez Wilmanski (AW Investment Advisory) 4,89 1 * * - 4,89
8 Brian O'Hare (Clair�eld International España) 1,00 2 9 * - 1,00
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Dealmakers - Financial Advisor
By nº of transactions
Ranking 2021 Dealmakers - Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Oscar Sánchez Melgosa (Norgestión) 2 12,00 * * 1 1
2 Joshua Novick (Bondo Advisors) 2 5,20 * * 2 -
2 Pablo Pérez García Villoslada (Bondo Advisors) 2 5,20 * * 2 -
3 Brian O'Hare (Clair�eld International España) 2 1,00 9 1 1 1
4 Jorge Vasallo (Arcano Partners) 2 - 3 0 - 2
4 Cesar Parra (RSM Spain) 2 - * * 1 1
4 Raul Alcocer (RSM Spain) 2 - * * 1 1
5 Rafael Villas Boas Estrela (Astris Finance) 1 1.104,67 * * 1 -
5 Tobey S. Collins (Astris Finance) 1 1.104,67 * * 1 -
6 Jean-Baptiste Marchand (Amala Partners) 1 100,00 * * - 1
6 Bénédicte Leneveu (Pretium Partners) 1 100,00 * * 1 -
7 Luis Antonio Ortiz Otero (RIóN M&A - Global M&A México) 1 25,27 * * - 1
7 Luis David (RIóN M&A - Global M&A México) 1 25,27 * * - 1
7 Martin Plettner (RIóN M&A - Global M&A México) 1 25,27 * * - 1
8 Ignacio Moliner (CaixaBank Corporate Finance) 1 10,00 1 -1 - 1
9 Alberto Álvarez Wilmanski (AW Investment Advisory) 1 4,89 * * - 1
10 James Chapman-Andrews (Alantra) 1 - * * 1 -
10 Alfonso Díaz Cordova (Arcano Partners) 1 - 3 -1 - 1
10 Borja Oria (Arcano Partners) 1 - 3 -1 - 1
10 Fernando Fontana (Arcano Partners) 1 - 3 -1 - 1
10 Joaquín Durán (Arcano Partners) 1 - 3 -1 - 1
10 Sofía Mendes (Arcano Partners) 1 - 3 -1 1 -
10 Unai Castañón (Arcano Partners) 1 - 3 -1 - 1
10 Carmelo de las Morenas (CDI Global Iberia) 1 - 7 0 - 1
10 Luis Victory (Clair�eld International España) 1 - 9 0 1 -
10 Martin Lemmer (Clair�eld International Germany) 1 - * * 1 -
10 Nicolás Gómez Saavedra (Inverlink) 1 - * * - 1
10 Jaime Rodríguez Petralanda (PKF Attest Corporate Finance) 1 - * * - 1
10 Lorena Ezquerra Oteo (PKF Attest Corporate Finance) 1 - * * - 1
10 Marco Musiani (Scouting) 1 - * * - 1
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.
By total value of transactions
Ranking 2021 Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Antonio Martínez (Allen & Overy Spain) 8.200,00 3 1 -67,32 7.700,00 500,00
1 Jaime Rodríguez Ordóñez (Allen & Overy Spain) 8.200,00 3 1 -67,32 7.700,00 500,00
2 Javier García de Enterría (Cli�ord Chance) 8.025,47 4 3 -64,99 2.445,47 5.580,00
3 Álvaro López-Jorrín (Garrigues España) 7.700,00 3 8 460,82 - 7.700,00
4 Fernando Torrente (Allen & Overy Spain) 7.700,00 2 1 -69,31 7.700,00 -
4 Teresa Méndez Flórez (Allen & Overy Spain) 7.700,00 2 1 -69,31 7.700,00 -
4 Fernando Vives (Garrigues España) 7.700,00 2 8 460,82 - 7.700,00
4 Manuel Rodrìguez de Bethencourt (Garrigues España) 7.700,00 2 8 460,82 - 7.700,00
4 Rafael Calvo Salinero (Garrigues España) 7.700,00 2 8 460,82 - 7.700,00
4 Susana Cabrera Zaragoza (Garrigues España) 7.700,00 2 8 460,82 - 7.700,00
5 Luis Alonso (Cli�ord Chance) 7.575,47 4 3 -66,96 1.995,47 5.580,00
6 Jaime Almenar (Cli�ord Chance) 7.575,47 2 3 -66,96 1.995,47 5.580,00
7 José Giménez Cervantes (Linklaters Spain) 6.043,85 4 13 449,94 5.811,40 232,45
8 José Luis Rodríguez Jiménez (Cuatrecasas España) 5.580,00 2 25 615,38 5.580,00 -
8 Juan Aguayo (Cuatrecasas España) 5.580,00 2 25 615,38 5.580,00 -
9 Pablo Serrano de Haro (Cli�ord Chance) 5.580,00 1 3 -75,66 - 5.580,00
9 Roberto Grau (Cli�ord Chance) 5.580,00 1 3 -75,66 - 5.580,00
9 Andrew Ward (Cuatrecasas España) 5.580,00 1 25 615,38 5.580,00 -
10 Alejandro Ortiz (Linklaters Spain) 5.153,85 3 13 368,96 4.921,40 232,45
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.
By nº of transactions
Ranking 2021 Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Teresa Zueco (DLA Piper España) 8 74,00 20 4 7 1
2 Silvia Martínez Losas (Lexcrea) 8 17,40 22 4 4 4
3 Iñaki Frías (DWF-RCD) 7 19,14 2 -4 5 2
4 Íñigo del Val (Allen & Overy Spain) 6 2.147,45 1 -5 2 4
5 Javier Carvajal (Pérez-Llorca) 6 774,19 3 -3 1 5
6 Manuel Echenique Sanjurjo (Uría Menéndez España) 5 1.193,94 4 -2 4 1
7 Javier García de Enterría (Cli�ord Chance) 4 8.025,47 13 0 2 2
8 Luis Alonso (Cli�ord Chance) 4 7.575,47 13 0 2 2
9 José Giménez Cervantes (Linklaters Spain) 4 6.043,85 29 1 3 1
10 José Azqueta Nerecan (Pérez-Llorca) 4 1.360,00 3 -5 1 3
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Rising Star Dealmakers - Legal Advisors TTR's Rising Star Dealmaker Rankings are comprised exclusively of associate-level advisors active in each given market.
By total value of transactions
Ranking 2021 Rising Star Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Bosco de Checa (Allen & Overy Spain) 8.370,00 3 1 -66,64 7.700,00 670,00
2 Jaime Rodríguez Ordóñez (Allen & Overy Spain) 8.200,00 3 1 -67,32 7.700,00 500,00
3 Aida González Hernández (Garrigues España) 7.700,00 2 23 1.613,97 - 7.700,00
3 Carlos Lozano Sanz Diez de Ulzurrun (Garrigues España) 7.700,00 2 23 1.613,97 - 7.700,00
3 Fernando Las Navas Tejedor (Garrigues España) 7.700,00 2 23 1.613,97 - 7.700,00
3 Javier Valderrama Serrato (Garrigues España) 7.700,00 2 23 1.613,97 - 7.700,00
3 Juan Blanco San Pastor (Garrigues España) 7.700,00 2 23 1.613,97 - 7.700,00
3 Juan González Ortega (Garrigues España) 7.700,00 2 23 1.613,97 - 7.700,00
4 Marc Casas (Cli�ord Chance) 7.575,47 2 2 -66,48 1.995,47 5.580,00
4 Patricia Arribas (Cli�ord Chance) 7.575,47 2 2 -66,48 1.995,47 5.580,00
4 Patricia Puertas Díaz (Cli�ord Chance) 7.575,47 2 2 -66,48 1.995,47 5.580,00
5 Fernando Escribano Rived (Cli�ord Chance) 5.580,00 2 2 -75,31 - 5.580,00
5 Lucía Herrero (Cli�ord Chance) 5.580,00 2 2 -75,31 - 5.580,00
6 Aina Gómez (Cli�ord Chance) 5.580,00 1 2 -75,31 - 5.580,00
6 Daniel García Juárez (Cli�ord Chance) 5.580,00 1 2 -75,31 - 5.580,00
6 Eduardo Sanchez (Cli�ord Chance) 5.580,00 1 2 -75,31 - 5.580,00
6 Javier Hermosilla (Cli�ord Chance) 5.580,00 1 2 -75,31 - 5.580,00
6 Marta Martínez Cutillas (Cli�ord Chance) 5.580,00 1 2 -75,31 - 5.580,00
6 Mónica Romero Martínez (Cli�ord Chance) 5.580,00 1 2 -75,31 - 5.580,00
6 Pablo Murcia Rabadán (Cli�ord Chance) 5.580,00 1 2 -75,31 - 5.580,00
7 Carla Gómez Crespo (Fresh�elds Bruckhaus Deringer España) 4.921,40 2 * * - 4.921,40
7 Patricia Álvarez (Linklaters Spain) 4.921,40 2 5 218,74 4.921,40 -
8 Ana Calvo Abril (Fresh�elds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40
8 Chelsey Kaka (Fresh�elds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40
8 Isabel Villa (Fresh�elds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40
8 Joe Amann (Fresh�elds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40
8 Alejandro Meca (Linklaters Spain) 4.921,40 1 5 218,74 4.921,40 -
8 Andrés Hernández Miñana (Linklaters Spain) 4.921,40 1 5 218,74 4.921,40 -
8 Esteban Arza (Linklaters Spain) 4.921,40 1 5 218,74 4.921,40 -
8 Jorge Toral (Linklaters Spain) 4.921,40 1 5 218,74 4.921,40 -
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Rising Star Dealmakers - Legal Advisors TTR's Rising Star Dealmaker Rankings are comprised exclusively of associate-level advisors active in each given market.
By nº of transactions
Ranking 2021 Rising Star Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Íñigo del Val (Allen & Overy Spain) 6 2.147,45 1 -5 2 4
2 Maria Gutiérrez (DLA Piper España) 5 - * * 5 -
3 Gonzalo Fernández Contreras (King & Wood Mallesons España) 4 320,00 30 2 - 4
4 Ángel Martín García (Pérez-Llorca) 4 79,78 13 1 1 3
5 Héctor Gómez Ferrero (DLA Piper España) 4 12,00 * * 3 1
6 Robert Burgell Bonet (Lexcrea) 4 10,20 * * 2 2
7 Alexia Alarcón Garrigasait (Garrigues España) 4 6,89 9 0 2 2
8 Regina Camacho Pita (Cli�ord Chance) 4 - 14 1 1 3
8 Ignacio Cerrato Crespán (CMS Albiñana & Suárez de Lezo) 4 - * * 3 1
9 Bosco de Checa (Allen & Overy Spain) 3 8.370,00 1 -8 2 1
10 Jaime Rodríguez Ordóñez (Allen & Overy Spain) 3 8.200,00 1 -8 2 1
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
EQUITY CAPITAL MARKETS
Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.
By total value of transactions
Ranking 2021 Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
1 Pablo Medina (Linklaters Spain) 7.422,05 2 1 889,61
2 Federico Briano (Linklaters Spain) 7.097,85 2 1 846,38
2 Íñigo Berricano (Linklaters Spain) 7.097,85 2 1 846,38
2 Jorge Alegre (Linklaters Spain) 7.097,85 2 1 846,38
3 Javier Redonet Sánchez del Campo (Uría Menéndez España) 6.997,85 1 * *
3 Manuel Echenique Sanjurjo (Uría Menéndez España) 6.997,85 1 * *
4 Jesús Palencia Isidro (DLA Piper España) 1.500,00 2 * *
5 José María Gil-Robles Casanueva (DLA Piper España) 1.500,00 1 * *
5 Pablo Díaz Gridilla (King & Wood Mallesons España) 1.500,00 1 * *
5 Alfonso Ventoso del Rincón (Uría Menéndez España) 1.500,00 1 * *
6 Norma Peña i Bagés (Pérez-Llorca) 1.028,00 1 * *
6 Pablo González Mosqueira (Pérez-Llorca) 1.028,00 1 * *
6 Pedro Fernández (Pérez-Llorca) 1.028,00 1 * *
7 Alejandro Ortiz (Linklaters Spain) 424,20 1 1 -43,44
8 Inmaculada Castelló Bernabeu (Pinsent Masons España) 223,84 1 * *
9 José Ramón Berecibar (Cuatrecasas España) 101,00 1 2 -51,93
10 Francisco León (Pérez-Llorca) 71,00 2 * *
10 Iván Delgado (Pérez-Llorca) 71,00 2 * *
This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
EQUITY CAPITAL MARKETS
Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.
By nº of transactions
Ranking 2021 Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
1 Pablo Medina (Linklaters Spain) 2 7.422,05 3 1
2 Federico Briano (Linklaters Spain) 2 7.097,85 3 1
2 Íñigo Berricano (Linklaters Spain) 2 7.097,85 3 1
2 Jorge Alegre (Linklaters Spain) 2 7.097,85 3 1
3 Jesús Palencia Isidro (DLA Piper España) 2 1.500,00 * *
4 Francisco León (Pérez-Llorca) 2 71,00 * *
4 Iván Delgado (Pérez-Llorca) 2 71,00 * *
5 Javier Redonet Sánchez del Campo (Uría Menéndez España) 1 6.997,85 * *
5 Manuel Echenique Sanjurjo (Uría Menéndez España) 1 6.997,85 * *
6 José María Gil-Robles Casanueva (DLA Piper España) 1 1.500,00 * *
6 Pablo Díaz Gridilla (King & Wood Mallesons España) 1 1.500,00 * *
6 Alfonso Ventoso del Rincón (Uría Menéndez España) 1 1.500,00 * *
7 Norma Peña i Bagés (Pérez-Llorca) 1 1.028,00 * *
7 Pablo González Mosqueira (Pérez-Llorca) 1 1.028,00 * *
7 Pedro Fernández (Pérez-Llorca) 1 1.028,00 * *
8 Alejandro Ortiz (Linklaters Spain) 1 424,20 3 0
9 Inmaculada Castelló Bernabeu (Pinsent Masons España) 1 223,84 * *
10 José Ramón Berecibar (Cuatrecasas España) 1 101,00 1 -3
This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
EQUITY CAPITAL MARKETS
Rising Star Dealmakers - Legal Advisors TTR's Rising Star Dealmaker Rankings are comprised exclusively of associate-level advisors active in each given market.
By total value of transactions
Ranking 2021 Rising Star Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
1 Enrique Murillo Giménez (King & Wood Mallesons España) 1.500,00 1 * *
1 Beatriz Camilleri (Uría Menéndez España) 1.500,00 1 * *
1 Sara Asensio Giménez (Uría Menéndez España) 1.500,00 1 * *
2 Carlos Mercadal (Pérez-Llorca) 1.028,00 1 * *
2 Francisco Javier García Fernández (Pérez-Llorca) 1.028,00 1 * *
2 Joaquín Abril-Martorell (Pérez-Llorca) 1.028,00 1 * *
2 Rodrigo Turcios Zacarías (Pérez-Llorca) 1.028,00 1 * *
2 Santiago Esquivel (Pérez-Llorca) 1.028,00 1 * *
3 Marta Garrido Buján (Linklaters Spain) 424,20 1 * *
4 Rafael Durán Frías (Pinsent Masons España) 223,84 1 * *
5 Alberto García Linera (Linklaters Spain) 100,00 1 * *
6 Beatriz Montes Yebra (Pérez-Llorca) 71,00 2 * *
6 Nasif Hamed (Pérez-Llorca) 71,00 2 * *
7 Íñigo Hernáez Pérez-Iriondo (Gómez-Acebo & Pombo España) 37,89 1 * *
8 José María Eguia (Cli�ord Chance) 19,87 1 * *
8 Arnau Vicente Peris (Garrigues España) 19,87 1 * *
8 Arturo Noguer Lloret (Garrigues España) 19,87 1 * *
9 Ramón Brotons Dávila (Lexcrea) 5,00 1 * *
This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
EQUITY CAPITAL MARKETS
Rising Star Dealmakers - Legal Advisors TTR's Rising Star Dealmaker Rankings are comprised exclusively of associate-level advisors active in each given market.
By nº of transactions
Ranking 2021 Rising Star Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
1 Beatriz Montes Yebra (Pérez-Llorca) 2 71,00 * *
1 Nasif Hamed (Pérez-Llorca) 2 71,00 * *
2 Enrique Murillo Giménez (King & Wood Mallesons España) 1 1.500,00 * *
2 Beatriz Camilleri (Uría Menéndez España) 1 1.500,00 * *
2 Sara Asensio Giménez (Uría Menéndez España) 1 1.500,00 * *
3 Carlos Mercadal (Pérez-Llorca) 1 1.028,00 * *
3 Francisco Javier García Fernández (Pérez-Llorca) 1 1.028,00 * *
3 Joaquín Abril-Martorell (Pérez-Llorca) 1 1.028,00 * *
3 Rodrigo Turcios Zacarías (Pérez-Llorca) 1 1.028,00 * *
3 Santiago Esquivel (Pérez-Llorca) 1 1.028,00 * *
4 Marta Garrido Buján (Linklaters Spain) 1 424,20 * *
5 Rafael Durán Frías (Pinsent Masons España) 1 223,84 * *
6 Alberto García Linera (Linklaters Spain) 1 100,00 * *
7 Íñigo Hernáez Pérez-Iriondo (Gómez-Acebo & Pombo España) 1 37,89 * *
8 José María Eguia (Cli�ord Chance) 1 19,87 * *
8 Arnau Vicente Peris (Garrigues España) 1 19,87 * *
8 Arturo Noguer Lloret (Garrigues España) 1 19,87 * *
9 Ramón Brotons Dávila (Lexcrea) 1 5,00 * *
This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
For more information: [email protected]
www.TTRecord.com
The contents of this report may be re-published in any format without prior authorisationfrom ZUVINOVA, as long as it includes a reference to "TTR - Transactional Track Record"
(www.TTRecord.com).
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
PORTUGAL
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
INDEX
OVERVIEW(M&A*, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS) **
· Total Transaction Volume and Aggregate Value· Transactions by Size· Leading Subsectors· Cross-border deals
PRIVATE EQUITY **· Total Transaction Volume and Aggregate Value· Leading Firms and Subsectors
VENTURE CAPITAL **· Total Transaction Volume and Aggregate Value· Leading Firms and Subsectors
ASSET ACQUISITION· Total Transaction Volume and Aggregate Value· Leading Subsectors
* Includes acquisition / sales of assets. Does not include Joint Venture. ** Includes announced and completed transactions in which at least one Portuguese-based is involved.
*** Includes transactions acted by Portuguese companies in or abroad.
EQUITY CAPITAL MARKETS ***· IPOs
· Follow-On
LARGEST TRANSACTIONS OF THE MONTH· Mergers & Acquisitions· Private Equity
· Venture Capital
DEAL OF THE MONTHChocolates Valor acquires Imperial Chocolates
TTR RADAR· Forward-looking Intelligence:
- Aggregated Intelligence- Proprietary Intelligence
RANKING YEAR TO DATE· Financial Advisors· Legal Advisors· Dealmakers
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE
YEAR TO DATE
Total aggregate value (EURm): 3.173 -53,48%
Number of transactions: 141 -10,19%
Completed: 118 (84%)
Disclosed value: 57 (40%)
M&A Private Equity
- Total: 58 | 1.543 EURm - Ongoing: 16 | 1.278 EURm
- Completed: 42 | 266 EURm
- Total: 8 | 204 EURm - Ongoing: 1 | 0 EURm - Completed: 7 | 204 EURm
Venture Capital Asset Acquisition
- Total: 35 | 829 EURm- Ongoing: 0 | 0 EURm
- Completed: 35 | 829 EURm
- Total: 40 | 596 EURm- Ongoing: 6 | 0 EURm
- Completed: 34 | 596 EURm
DEAL FLOW SINCE 2020
24%
-16%
28%
28%
-19%
5%
47%
19%
% All the percentages represent a variation relative to the same period the previous year.
Total aggregate value (EURm) Number of transactions
Number of Transactions by Type
58
835
40
Tota
l val
ue (E
URm
)
569,03 204,63
0k
2.5k
5k
Num
ber
of tr
ansa
ctio
ns
21 21 2435
5140
29
53
3240
26 22 21
May
202
0
Jun
2020
Jul 2
020
Aug 2
020
Sep
2020
Oct 2
020
Nov
202
0
Dec
202
0
Jan
2021
Feb
2021
Mar
202
1
Apr 2
021
May
202
1
0
50
100
Last Four Years (Jan-Dec)
410
486
18.190
14.668
2020
2019
Last Four Years (Jan-Dec)
381
364
11.469
14.122
2018
2017
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURE CAPITAL
ASSET ACQUISITION
EQUITY CAPITAL MARKETS
LARGEST TRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
TRANSACTIONS BY SIZE
Number of transactions Total value
> EUR 500m
EUR 100m - EUR 500m
EUR 50m - EUR 100m
EUR 10m - EUR 50m
EUR 1m - EUR 10m
< EUR 1m
Con�dential Value / Not Disclosed
2,59%5,41% 7,95% 4,44% 5,18% 6,94%
5,14% 4,62%3,43%
3,47%
8,65%13,08%
9,88% 11,53% 8,33%
12,97%
14,10%
12,10%16,00% 16,67%
7,84%
6,41%
8,67%
12,24%
5,56%
58,11%53,33%
60,08%
50,59%58,33%
2017 2018 2019 2020 Year To Date
0
20
40
60
80
100
57,21%
14,51%
54,14%59,26%
13,61%
25,09%
61,38%
27,72%
29,12%
67,27%
10,09%
10,83%
8,84%3,14%
9,35%
5,93%10,86%
7,72% 7,02% 7,35%
2,32% 2,35%
2017 2018 2019 2020 Year To Date
0
20
40
60
80
100
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
LEADING SUBSECTORS *
Subsectors with most deals (M&A) **Change relative to the
same period in 2020
-
-55%
113%
75%
* TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate.** The transaction may appear in more than one subsector, given that the same entity may operate in multiple subsectors.
% All the percentages represent a variation relative to the same period the previous year.
Number of transactions Year to date
23
22
17
14
Technology
Real Estate
Financial and Insurance
Distribution and Retail
Number of transactions this month
3
3
3
2
Distribution and Retail
Consultancy, Audit and Engineeri…
Financial and Insurance
Transport, Aviation and Logistics
2017
72
40
37
28
Real Estate
Technology
Financial andInsurance
Healthcare, H…
2018
98
46
41
34
Real Estate
Technology
Financial andInsurance
Tourism,Hotels and
Restaurants
2019
105
69
49
40
Real Estate
Technology
Financial andInsurance
Distributionand Retail
2020
98
53
29
27
Real Estate
Technology
Financial andInsurance
Healthcare, H…
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
CROSS-BORDER DEALS *
Number of transactions
2017 2018 2019 2020 2021 - Year to date
US-based acquirers of portuguese companies 20 25 25,00% 38 52,00% 16 -57,89% 10 25,00%
Foreign acquisitions in the technology and internetsubsector 18 25 38,89% 23 -8,00% 21 -8,70% 11 37,50%
Foreign Private Equity and Venture Capital Funds investingin portuguese companies 25 25 - 23 -8,00% 20 -13,04% 5 -16,67%
Domestic
Inbound acquisitions **
Outbound acquisitions ***
Sale of foreign subsidiaries ****
Divestment - Foreign-owned stake *****
2017 2018 2019 2020 2021 - Year to date
* Any M&A transaction that involves a buyer, seller or target based outside of Portugal. ** Foreign companies acquiring Portuguese-based targets. Since December 2018 this analysis includes acquisitions made by local subsidiaries of foreign entities.
*** Portuguese-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Portuguese-based entities.**** Portuguese-based companies selling foreign subsidiaries. Since December 2018 this analysis includes sales made by foreign subsidiaries of Portuguese-based entities.
***** Foreign companies selling interest in Portuguese-based companies. Since December 2018 this analysis includes sales made by foreign subsidiaries of Portuguese-based entities. % All the percentages represent a variation relative to the same period the previous year.
156150
29
16
50
128
174
49
26
43
195 193
58
22
64
174
142
50
19
66
43
65
19
6
22
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
CROSS-BORDER DEALS *
Year to date
OUTBOUND ACQUISITIONS
No. Total value (EURm)Total 19 254,72Ongoing 3 113,72Completed 16 141,00
INBOUND ACQUISITIONS
No. Total value (EURm)Total 65 1.677,19Ongoing 9 65,00Completed 56 1.612,19
Outbound acquisitions ***
Ranking per Country ****
TARGET COUNTRY No. Total value (EURm)
Spain 7 59,37
Brazil 3 22,02
United States 2 164,34
Italy 2 ND - Not-disclosed
New Zealand 1 4,99
Finland 1 4,00
Morocco 1 ND - Not-disclosed
Poland 1 ND - Not-disclosed
Germany 1 ND - Not-disclosed
Inbound acquisitions **
Ranking per Country ****
BIDDER COUNTRY No. Total value (EURm)
Spain 16 501,72
France 11 539,00
United States 10 643,05
United Kingdom 10 97,45
Germany 6 21,79
Luxembourg 4 24,86
United Arab Emirates 4 2,20
Australia 3 2,20
Sweden 2 200,00
Singapore 2 120,00
* Any M&A transaction that involves a buyer, seller or target based outside of Portugal. ** Foreign companies acquiring Portuguese-based targets. Since December 2018 this analysis includes acquisitions made by local subsidiaries of foreign entities.
*** Portuguese-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Portuguese-based entities.**** The same deal may appear under multiple subsectors and countries based on a companies operations and the number of parties involved in a given transaction.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)
CROSS-BORDER DEALS *
Year to date
OUTBOUND ACQUISITIONS
No. Total value (EURm)Total 19 254,72Ongoing 3 113,72Completed 16 141,00
INBOUND ACQUISITIONS
No. Total value (EURm)Total 65 1.677,19Ongoing 9 65,00Completed 56 1.612,19
Outbound acquisitions ***
Leading subsectors ****
ES BR US IT NZ FI MA PL DE
Technology 1 1 1 1
Solar 1 1 1
Financial and Insurance 1 1 1
Healthcare, Hygiene, Medical Aesthetics and Cosmetics 1 1
Distribution and Retail 2
Electric 1 1
Chemical and Chemical Materials 1
Steel, Metallurgy and Industrial Production 1
Real Estate 1
Internet 1
Inbound acquisitions **
Leading subsectors ****
ES FR US UK DE LU AE AU SE SG
Real Estate 3 2 2 3 1
Technology 2 5 1 2 2
Financial and Insurance 2 1 1 1 1 2 1
Tourism, Hotels and Restaurants 1 1 1 2 1
Consultancy, Audit and Engineering 1 1 1 1
Telecoms 3 1
Distribution and Retail 1 1 1 1
Food 2 1
Healthcare, Hygiene, Medical Aesthetics and Cosmetics 1 1 1 1
Media, Multimedia and Editorial 1 1
* Any M&A transaction that involves a buyer, seller or target based outside of Portugal. ** Foreign companies acquiring Portuguese-based targets. Since December 2018 this analysis includes acquisitions made by local subsidiaries of foreign entities.
*** Portuguese-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Portuguese-based entities.**** The same deal may appear under multiple subsectors and countries based on a companies operations and the number of parties involved in a given transaction.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
PRIVATE EQUITY
TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE
YEAR TO DATE
Total aggregate value (EURm): 204 -93,73%
Number of transactions: 8 -33,33%
Completed: 7 (88%)
Disclosed value: 2 (25%)
Domestic Cross-border
- Total: 3 | 4 EURm - Ongoing: 0 | 0 EURm
- Completed: 3 | 4 EURm
- Total: 5 | 200 EURm - Ongoing: 1 | 0 EURm - Completed: 4 | 200 EURm
LAST FOUR YEARS (JAN-DEC)
61%
-19%
7%
7%
-43%
-14%
117%
38%
-14%
-19%
-44%
23%
5%
-32%
448%
19%
62%
-19%
8%
-
-44%
-3%
115%
52%
% All the percentages represent a variation relative to the same period the previous year.
Total aggregate value (EURm) Number of transactions
Scope
3
5
Total
38
47
6.716
4.171
2020
2019
Total
44
51
3.915
6.909
2018
2017
Domestic
13
16
36
43
2020
2019
Domestic
13
19
77
73
2018
2017
Cross-border
25
31
6.680
4.128
2020
2019
Cross-border
31
32
3.838
6.836
2018
2017
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
PRIVATE EQUITY - Investment
LEADING FIRMS AND SUBSECTORS *
Year to dateChange relative to the
same period in 2020
-
-
100%
-
Private Equity Country Nº Value (EURm)
1 EQT Sweden 2 200,00
2 Activecap Portugal 1 4,00
3 Oxy Capital, Oxy Capital II Portugal 1 -
3 Zinc Capital Portugal 1 -
* TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate.
2
2
2
1
Water and Sanitation
Distribution and Retail
Glass, Ceramic, Paper,Plastics, Wood and
Timber
Food
2017
10
4
3
3
Healthcare, …
Glass, Ceram…
Oil and Gas
Technology
2018
8
5
4
4
Real Estate
Financial andInsurance
Tourism,Hotels and
Restaurants
Glass, Ceram…
2019
6
4
4
3
Financial andInsurance
Steel, Metall…
Agriculture, …
Healthcare, …
2020
6
4
4
4
Healthcare, …
Food
Chemical andChemicalMaterials
Real Estate
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
PRIVATE EQUITY - Divestment (Exits)
LEADING FIRMS AND SUBSECTORS *
Year to dateChange relative to the
same period in 2020
-
-
-
Private Equity Country NºValue
(EURm)
1 Carlyle United States 1 -
1 Lone Star Funds United States 1 -
1Vallis Capital Partners, Vallis SustainableInvestments I
Luxembourg,Portugal
1 -
* TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate.
1
1
1
Food
Glass, Ceramic, Paper,Plastics, Wood and
Timber
Financial and Insurance
2017
4
3
2
1
Healthcare, …
Cars, Motorc…
Chemical andChemicalMaterials
Media,Multimedia
and Editorial
2018
5
3
2
2
Real Estate
Financial andInsurance
Education
Glass, Ceram…
2019
3
2
2
1
Steel, Metall…
Oil and Gas
Glass, Ceram…
Healthcare, …
2020
3
3
2
2
Chemical andChemicalMaterials
Telecoms
Biotechnology
Food
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
VENTURE CAPITAL
TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE
YEAR TO DATE
Total aggregate value (EURm): 829 595,90%
Number of transactions: 35 34,62%
Completed: 35 (100%)
Disclosed value: 28 (80%)
Domestic Cross-border
- Total: 12 | 2 EURm - Ongoing: 0 | 0 EURm
- Completed: 12 | 2 EURm
- Total: 23 | 828 EURm- Ongoing: 0 | 0 EURm
- Completed: 23 | 828 EURm
LAST FOUR YEARS (JAN-DEC)
118%
-29%
66%
85%
171%
48%
88%
-16%
-3%
-60%
-64%
139%
1.726%
-
-63%
-28%
127%
2%
126%
50%
95%
115%
136%
8%
% All the percentages represent a variation relative to the same period the previous year.
Total aggregate value (EURm) Number of transactions
Scope
12
23
Total
60
85
884
406
2020
2019
Total
46
31
244
90
2018
2017
Domestic
17
43
26
27
2020
2019
Domestic
18
18
77
4
2018
2017
Cross-border
43
42
858
378
2020
2019
Cross-border
28
13
167
86
2018
2017
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
VENTURE CAPITAL - Investment
LEADING FIRMS AND SUBSECTORS *
Year to dateChange relative to the
same period in 2020
20%
200%
150%
-
Venture Capital Country Nº Value (EURm)
1 Portugal Ventures Portugal 12 17,60
2 Armilar Venture Partners Portugal 3 18,67
3 Indico Capital Partners Portugal 2 72,64
4 Sabadell Venture Capital Spain 2 45,67
5 Bynd Venture Capital Portugal 2 42,17
6 Shilling Capital Partners Portugal 2 15,37
7 Bionova Capital Portugal 2 9,60
8 Mustard Seed MAZE Portugal 2 7,75
8 SeedCamp United Kingdom 2 7,75
* TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate.
18
6
5
3
Technology
Healthcare, Hygiene,Medical Aesthetics and
Cosmetics
Financial and Insurance
Distribution and Retail
2017
18
7
4
2
Technology
Internet
Healthcare, …
Marketing andAdvertising
2018
21
9
5
3
Technology
Internet
Tourism,Hotels and
Restaurants
Biotechnology
2019
44
12
8
8
Technology
Internet
Distributionand Retail
Healthcare, …
2020
27
11
8
7
Technology
Internet
Other Services
Healthcare, …
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
VENTURE CAPITAL - Divestment (Exits)
LEADING FIRMS AND SUBSECTORS *
Year to dateChange relative to the
same period in 2020
-Venture Capital Country Nº Value (EURm)
1 Venture Catalysts Portugal 1 -
* TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate.
1Technology
2018
3
2
1
Technology
Tourism,Hotels and
Restaurants
Healthcare, …
2019
2
1
1
Technology
Healthcare, …
Telecoms
2020
3
1
1
1
Technology
Distributionand Retail
Internet
Healthcare, …
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
ASSET ACQUISITION
TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE
YEAR TO DATE
Total aggregate value (EURm): 596 -9,42%
Number of transactions: 40 21,21%
Completed: 34 (85%)
Disclosed value: 13 (33%)
Domestic Cross-border
- Total: 11 | 46 EURm - Ongoing: 0 | 0 EURm - Completed: 11 | 46 EURm
- Total: 29 | 550 EURm- Ongoing: 6 | 0 EURm
- Completed: 23 | 550 EURm
LAST FOUR YEARS (JAN-DEC)
-47%
-15%
96%
9%
2%
-1%
62%
34%
24%
21%
-65%
-18%
159%
-9%
32%
63%
-55%
-32%
282%
28%
-40%
6%
73%
16%
% All the percentages represent a variation relative to the same period the previous year.
Total aggregate value (EURm) Number of transactions
Scope
11
29
Total
87
102
2.551
4.855
2020
2019
Total
94
95
2.478
2.421
2018
2017
Domestic
40
33
574
464
2020
2019
Domestic
40
44
1.328
513
2018
2017
Cross-border
47
69
1.976
4.391
2020
2019
Cross-border
54
51
1.149
1.909
2018
2017
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
ASSET ACQUISITION
LEADING SUBSECTORS *
Year to dateChange relative to the
same period in 2020
-28%
-
-
* TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate.
21
5
2
2
Real Estate
Financial and Insurance
Telecoms
Tourism, Hotels andRestaurants
2017
58
10
5
5
Real Estate
Financial andInsurance
Tourism,Hotels and
Restaurants
Distributionand Retail
2018
69
14
8
4
Real Estate
Tourism,Hotels and
Restaurants
Financial andInsurance
Agriculture, …
2019
77
13
10
3
Real Estate
Financial andInsurance
Tourism,Hotels and
Restaurants
Distributionand Retail
2020
60
6
5
5
Real Estate
Solar
Financial andInsurance
Healthcare, …
-
Total aggregate value (EURm)
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
EQUITY CAPITAL MARKETSIPOs *
Year to date
FOLLOW-ON *
Year to date
Completed Pipeline
-
-
-100%
-100%
-
-
-
-
-1%
-
17.819%
300%
-100%
-75%
320%
100%
% All the percentages represent a variation relative to the same period the previous year. Number of transactions
* Includes transactions acted by Portuguese companies in Portugal or abroad.
Number of transactions
0
0
Total Value (EURm)
0
0
Number of transactions
2
4
Total Value (EURm)
1.555
734
Last Four Years (Jan-Dec)
0
0
2
0
0
0
22
0
2020
2019
2018
2017
Last Four Years (Jan-Dec)
4
4
1
4
1.054
1.064
6
1.859
2020
2019
2018
2017
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
LARGEST TRANSACTIONS OF THE MONTH
MERGERS & ACQUISITIONS
Target Country Subsector Buyer SellerValue
(EURm)
Maxmat Portugal Distribution and Retail Cimentos Estrada Pedra Sonae MC 65,00 (Approx.)
Mota-Engil(Holding)
Portugal Construction (Materials and Machinery) Mota Gestão e Participações Private Shareholders Portugal I 49,52
Horta OsórioWines
Portugal Agriculture, Agribusiness, Farming andFishing
Menin Douro Estates Private Shareholders Portugal I 30,00
PRIVATE EQUITY
Target Country Subsector Buyer SellerValue
(EURm)
Firmo Portugal Distribution and Retail Activecap 4,00 (Approx.)
VENTURE CAPITAL
Target Country Subsector Buyer SellerValue
(EURm)
Impress SpainHealthcare, Hygiene, Medical Aestheticsand Cosmetics
Private Shareholders I, TA Ventures, Sabadell Venture Capital, CareCapital(Hillhouse Capital Group), Bynd Venture Capital, Nikolimax Investments,Nickleby Capital, UNIQA Ventures
41,17
Portainer.io NewZealand
Technology Bessemer Venture Partners, Sonae IM, Movac 4,99
StudentFinance
Spain Financial and Insurance Armilar Venture Partners, SeedCamp, Sabadell Venture Capital, MustardSeed MAZE, Giant Ventures
4,50
Kitch Portugal Tourism, Hotels and Restaurants SeedCamp, Market One Capital, Mustard Seed MAZE, Atlantic Food Labs 3,25
RealFevr Portugal Other ServicesShilling Capital Partners, Private Shareholders Australia I, PrivateShareholders United States I, Private Shareholders Portugal I,SportMultimédia, Moonrock Capital, Morningstar Ventures
2,20
Imperial Chocolates 2020-06-30 (EUR)
Revenue EUR 32,28m
EBITDA -
EBIT -
Earnings EUR 0,61m
Net Debt EUR 8,64m
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
DEAL OF THE MONTH
January
Target: Teclena - Automatização,Estudos e Representações
Buyer: Zinc Capital
Value: ND
February
Target: Aquapor Serviços
Buyer: Saur
Value: EUR 200,00m
March
Target: Aquapor Serviços
Buyer: Saur
Value: EUR 200,00m
April
Target: Oni
Buyer: Gigas
Value: EUR 39,50m
May
Target: Imperial Chocolates
Buyer: Chocolates Valor
Value: ND
Imperial ChocolatesChocolates Valor acquires Imperial Chocolates
Full Transaction Details
PartiesTarget: Imperial Chocolates
Description: Company dedicated to the manufacture of chocolates.
Buyer %
Chocolates Valor 100
Seller %
Vallis Sustainable Investments I -
Private Equity (Seller) %
Vallis Capital Partners -
FINANCIAL DATA
Advisors / Due DiligenceParties Financial Advisory People
Chocolates Valor Banco Sabadell M&A Unit Ignacio Mestres del Valle (Director), Raúl Campos Faura (Associate Director), Joan Bernal i Larregola (Analyst)
Parties Legal Advisory People
Vallis Capital Partners Telles Advogados Cristina Ferreira (Partner), Francisco Espregueira Mendes (Partner), Joaquim Caimoto Duarte (Of Counsel), Leyre Prieto (Partner)
Vallis Sustainable Investments I Telles Advogados Cristina Ferreira (Partner), Francisco Espregueira Mendes (Partner), Joaquim Caimoto Duarte (Of Counsel), Leyre Prieto (Partner)
Chocolates Valor Cuatrecasas España Francisco Picó (Partner), Marta Máñez Pérez (Partner)
Chocolates Valor Cuatrecasas Portugal Pedro Marques Bom (Partner), Vasco Bivar de Azevedo (Partner)
Parties Due Diligence People
Chocolates Valor PwC España
Chocolates Valor PwC Portugal
June
Target:
Buyer:
Value:
July
Target:
Buyer:
Value:
August
Target:
Buyer:
Value:
September
Target:
Buyer:
Value:
October
Target:
Buyer:
Value:
November
Target:
Buyer:
Value:
December
Target:
Buyer:
Value:
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
TTR RADAR
FORWARD-LOOKING INTELLIGENCE
Opportunities by Intelligence Type and Volume - May 2021
Identify early stage M&Aopportunities with TTR
Radar, deliveringactionable proprietary and
aggregated intelligence.
TTR RADARAggregated Intelligence
Nexity to invest EUR250m in Portugal over the
next �ve years
TTR RADARProprietary Intelligence
eStragy planning newfunding round to expandto Portugal, Brazil and the
US
Acquisition Finance Advisory Appointment
Asset Sale/Acquisition
Business Expansion
Capital Increase/Funding Round
Changes in Control
Companies for Sale
Companies Looking for Investor..
Companies Looking to Buy
Debt Finance
Distressed/Restructuring
Family-owned/Closely Held
Follow-on Issuance
Foreign Direct Investment (FDI..
High GrowthInfrastructureJoint Venture
Market Entry
New Business Vertical
New Mandate Opportunity
New PE/VC funds
Partnerships & Alliances
pre-IPO
Private Equity
Project Finance
Public Tender/Concession
Startup Acceleration
Strategic Management Change
Trends
Venture Capital
0
10
20
30
40
50
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
Financial AdvisorsLegal Advisors
Dealmakers
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Consultants: Financial Advisors + Due DiligenceBy total value of transactions
Ranking 2021 Consultants Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
By nº of transactions
Ranking 2021 Consultants Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
1 KPMG Portugal 1 200,00 -- --
2 EY Portugal 1 --
Consultants: Financial AdvisorsBy total value of transactions
Ranking 2021 Consultants Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
By nº of transactions
Ranking 2021 Consultants Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Consultants: Due DiligenceBy total value of transactions
Ranking 2021 Consultants Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
By nº of transactions
Ranking 2021 Consultants Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
1 KPMG Portugal 1 200,00 -- --
2 EY Portugal 1 --
-- --
-- --
1 EY Portugal 1 ---- --
1 KPMG Portugal 200,00 --
2 EY Portugal ----
--
--
1
1
1 KPMG Portugal 200,00 --
2 EY Portugal ----
--
--
1
1
1 EY Portugal ---- --1
2 PwC Portugal 1 ---- --2 PwC Portugal ---- --1
1 PwC Portugal 1 ---- --1 PwC Portugal ---- --1
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Financial Advisors
By total value of transactions
Ranking 2021 Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 FTI Consulting 500,00 1 * * 500,00 -
2 Caixa BI 260,28 1 1 -89,30 260,28 -
3 Guggenheim 98,56 1 * * 98,56 -
By nº of transactions
Ranking 2021 Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 FTI Consulting 1 500,00 * * 1 -
2 Caixa BI 1 260,28 2 -1 1 -
3 Guggenheim 1 98,56 * * 1 -
4 Alantra 1 - 10 0 1 -
4 Arcano Partners 1 - * * 1 -
4 Banco Sabadell 1 - * * 1 -
4 Barclays Bank 1 - * * - 1
4 Credit Suisse Group 1 - * * 1 -
4 Goldman Sachs 1 - * * - 1
4 Viam Advisors 1 - * * - 1
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Legal Advisors
By total value of transactions
Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Uría Menéndez - Proença de Carvalho 488,99 5 7 -38,88 168,99 320,00
2 PLMJ 272,00 8 11 1.589,44 268,00 4,00
3 VdA - Vieira de Almeida 200,00 2 1 -94,73 200,00 -
4 Garrigues Portugal 175,84 2 17 * 6,85 168,99
5 SRS Advogados 100,61 9 6 -88,04 89,76 10,85
6 Morais Leitão, Galvão Teles, Soares da Silva & Associados 90,61 4 2 -97,61 - 90,61
7 Pinto Ribeiro Advogados 30,00 1 * * 30,00 -
8 Cuatrecasas Portugal 22,81 4 12 280,14 20,61 2,20
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Legal Advisors
By nº of transactions
Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 SRS Advogados 9 100,61 3 0 6 3
2 PLMJ 8 272,00 7 3 5 3
3 Uría Menéndez - Proença de Carvalho 5 488,99 12 3 2 3
4 Morais Leitão, Galvão Teles, Soares da Silva & Associados 4 90,61 1 -8 - 4
5 Cuatrecasas Portugal 4 22,81 6 -2 3 1
6 Telles Advogados 4 - 18 3 2 2
7 VdA - Vieira de Almeida 2 200,00 5 -5 1 1
8 Garrigues Portugal 2 175,84 2 -9 1 1
9 Pinto Ribeiro Advogados 1 30,00 * * 1 -
10 Abreu Advogados 1 - 4 -7 - 1
10 AFMA - António Frutuoso de Melo & Associados 1 - * * 1 -
10 Campos Ferreira, Sá Carneiro – CS Associados 1 - 10 -1 1 -
10 CCSL Advogados 1 - * * 1 -
10 Cerejeira Namora, Marinho Falcão 1 - * * 1 -
10 Cruz Roque Semião e Associados - Sociedade de Advogados, Sp, Rl 1 - * * 1 -
10 Sérvulo & Associados 1 - 15 0 1 -
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
PRIVATE EQUITY
Financial Advisors
By total value of transactions
Ranking 2021 Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
By nº of transactions
Ranking 2021 Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Banco Sabadell 1 - * * 1 -
1 Barclays Bank 1 - * * - 1
1 Credit Suisse Group 1 - * * 1 -
1 Goldman Sachs 1 - * * - 1
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
PRIVATE EQUITY
Legal Advisors
By total value of transactions
Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Uría Menéndez - Proença de Carvalho 200,00 3 3 -75,00 - 200,00
2 PLMJ 200,00 2 5 3.471,41 200,00 -
2 VdA - Vieira de Almeida 200,00 2 1 -93,83 200,00 -
3 SRS Advogados 4,00 1 3 -99,50 4,00 -
By nº of transactions
Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Uría Menéndez - Proença de Carvalho 3 200,00 6 2 1 2
2 PLMJ 2 200,00 4 0 2 -
2 VdA - Vieira de Almeida 2 200,00 1 -1 1 1
3 SRS Advogados 1 4,00 6 0 1 -
4 AFMA - António Frutuoso de Melo & Associados 1 - * * 1 -
4 CCSL Advogados 1 - * * 1 -
4 Cuatrecasas Portugal 1 - 3 -1 1 -
4 Sérvulo & Associados 1 - * * 1 -
4 Telles Advogados 1 - * * - 1
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
VENTURE CAPITAL
Legal Advisors
By total value of transactions
Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Garrigues Portugal 175,84 2 * * 6,85 168,99
2 Uría Menéndez - Proença de Carvalho 168,99 1 * * 168,99 -
3 SRS Advogados 96,61 8 2 256,51 85,76 10,85
4 Morais Leitão, Galvão Teles, Soares da Silva & Associados 25,61 3 1 -63,53 - 25,61
5 Cuatrecasas Portugal 22,81 2 7 * 20,61 2,20
6 PLMJ 3,00 1 * * 3,00 -
By nº of transactions
Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 SRS Advogados 8 96,61 2 3 5 3
2 Morais Leitão, Galvão Teles, Soares da Silva & Associados 3 25,61 1 -5 - 3
3 Garrigues Portugal 2 175,84 * * 1 1
4 Cuatrecasas Portugal 2 22,81 4 0 1 1
5 Uría Menéndez - Proença de Carvalho 1 168,99 * * 1 -
6 PLMJ 1 3,00 * * 1 -
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
EQUITY CAPITAL MARKETS
Banks
By total value of transactions
Ranking 2021 Bank Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
1 Citigroup 1.500,00 1 * *
1 Morgan Stanley 1.500,00 1 * *
By nº of transactions
Ranking 2021 Bank Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
1 Citigroup 1 1.500,00 * *
1 Morgan Stanley 1 1.500,00 * *
This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
EQUITY CAPITAL MARKETS
Legal Advisors
By total value of transactions
Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
1 DLA Piper ABBC 1.500,00 1 * *
1 Morais Leitão, Galvão Teles, Soares da Silva & Associados 1.500,00 1 * *
1 Uría Menéndez - Proença de Carvalho 1.500,00 1 * *
By nº of transactions
Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
1 DLA Piper ABBC 1 1.500,00 * *
1 Morais Leitão, Galvão Teles, Soares da Silva & Associados 1 1.500,00 * *
1 Uría Menéndez - Proença de Carvalho 1 1.500,00 * *
This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Dealmakers - Financial Advisor
By total value of transactions
Ranking 2021 Dealmakers - Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
By nº of transactions
Ranking 2021 Dealmakers - Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Inigo Mateache (Alantra Portugal) 1 - * * 1 -
1 Rita Barosa (Alantra Portugal) 1 - * * 1 -
1 Sandeep Talwani (Alantra Portugal) 1 - * * 1 -
1 Sofía Mendes (Arcano Partners) 1 - * * 1 -
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.
By total value of transactions
Ranking 2021 Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 Duarte Schmidt Lino (PLMJ) 269,00 4 20 2.461,90 265,00 4,00
2 Cláudia da Cruz Almeida (VdA - Vieira de Almeida) 200,00 2 1 -94,65 200,00 -
3 Frederico Gonçalves Pereira (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 -
3 Jorge Bleck (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 -
3 Manuel Protásio (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 -
3 Paulo Trindade Costa (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 -
3 Ricardo Bordalo Junqueiro (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 -
3 So�a Ribeiro Branco (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 -
4 Antonio Villacampa Serrano (Uría Menéndez - Proença de Carvalho) 168,99 2 11 -78,88 168,99 -
5 Mário Lino Dias (Garrigues Portugal) 168,99 1 27 * - 168,99
6 Marta Pontes (Uría Menéndez - Proença de Carvalho) 120,00 1 11 -85,00 - 120,00
6 Rita Xavier de Brito (Uría Menéndez - Proença de Carvalho) 120,00 1 11 -85,00 - 120,00
7 Paulo Bandeira (SRS Advogados) 95,61 7 11 -88,05 85,76 9,85
8 André Miranda (Pinto Ribeiro Advogados) 30,00 1 * * 30,00 -
9 Vasco Bivar de Azevedo (Cuatrecasas Portugal) 20,61 2 21 243,47 20,61 -
10 Gustavo Ordonhas Oliveira (SRS Advogados) 5,00 2 11 -99,37 4,00 1,00
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.
By nº of transactions
Ranking 2021 Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Paulo Bandeira (SRS Advogados) 7 95,61 1 1 5 2
2 Duarte Schmidt Lino (PLMJ) 4 269,00 25 3 3 1
3 Cláudia da Cruz Almeida (VdA - Vieira de Almeida) 2 200,00 3 -2 1 1
4 Antonio Villacampa Serrano (Uría Menéndez - Proença de Carvalho) 2 168,99 18 1 2 -
5 Vasco Bivar de Azevedo (Cuatrecasas Portugal) 2 20,61 6 -1 2 -
6 Gustavo Ordonhas Oliveira (SRS Advogados) 2 5,00 1 -4 1 1
7 Filipe Avides Moreira (PLMJ) 2 3,00 25 1 1 1
8 João Mattamouros Resende (Cuatrecasas Portugal) 2 2,20 6 -1 1 1
9 Francisco Espregueira Mendes (Telles Advogados) 2 - * * - 2
10 Frederico Gonçalves Pereira (VdA - Vieira de Almeida) 1 200,00 3 -3 1 -
10 Jorge Bleck (VdA - Vieira de Almeida) 1 200,00 3 -3 1 -
10 Manuel Protásio (VdA - Vieira de Almeida) 1 200,00 3 -3 1 -
10 Paulo Trindade Costa (VdA - Vieira de Almeida) 1 200,00 3 -3 1 -
10 Ricardo Bordalo Junqueiro (VdA - Vieira de Almeida) 1 200,00 3 -3 1 -
10 So�a Ribeiro Branco (VdA - Vieira de Almeida) 1 200,00 3 -3 1 -
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Rising Star Dealmakers - Legal Advisors TTR's Rising Star Dealmaker Rankings are comprised exclusively of associate-level advisors active in each given market.
By total value of transactions
Ranking 2021 Rising Star Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
Buy-Side (EURm)
Sell-Side (EURm)
1 João Serras de Sousa (PLMJ) 200,00 1 24 1.804,76 200,00 -
1 Afonso Cuco (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Américo Oliveira Fragoso (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Bruno Melo Alves (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Catarina Coimbra (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 David Cuba Topete (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Diogo Santana Lopes (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Domingos Freire de Andrade (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Inês Sotto Mayor (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Isa Rodrigues (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Isabel Ferreira dos Santos (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Isabel Ornelas (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Joana Campos e Matos (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 João Tornada (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Manuel Gouveia Pereira (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Maria Cunha Matos (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Maria Leonor Piconez (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Marina Costa Cabral (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Matilde Líbano Monteiro (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Miguel Lourenço e Silva (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Pedro Gil Marques (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Pedro Morais Vaz (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Pedro Pires Fernandes (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Philippa Soares Franco (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Ricardo Bordalo Junqueiro (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Ricardo Filipe Costa (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Soraia Ussene (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
1 Vanessa Cardoso Pires (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -
2 Frederico Pinho Vieira (Uría Menéndez - Proença de Carvalho) 168,99 2 13 -78,88 168,99 -
2 José António Reymão Nogueira (Uría Menéndez - Proença de Carvalho) 168,99 2 13 -78,88 168,99 -
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS
Rising Star Dealmakers - Legal Advisors TTR's Rising Star Dealmaker Rankings are comprised exclusively of associate-level advisors active in each given market.
By nº of transactions
Ranking 2021 Rising Star Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
Buy-Side Sell-Side
1 Solange Fernandes (SRS Advogados) 6 87,01 3 1 3 3
2 Luís Roquette Geraldes (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 3 25,61 2 -2 - 3
3 Giorgio Galli (SRS Advogados) 3 14,97 3 -2 3 -
4 Frederico Pinho Vieira (Uría Menéndez - Proença de Carvalho) 2 168,99 24 1 2 -
4 José António Reymão Nogueira (Uría Menéndez - Proença de Carvalho) 2 168,99 24 1 2 -
5 Miguel Stokes (Uría Menéndez - Proença de Carvalho) 2 120,00 24 1 - 2
6 Francisco Vieira de Almeida (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 2 25,61 2 -3 - 2
7 Alexander Ehlert (PLMJ) 2 7,00 19 0 1 1
8 Gustavo Ordonhas Oliveira (SRS Advogados) 2 5,00 3 -3 1 1
9 Ana Nunes Teixeira (PLMJ) 2 3,00 19 0 1 1
10 João von Funcke (Cuatrecasas Portugal) 2 2,20 21 0 1 1
This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
EQUITY CAPITAL MARKETS
Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.
By total value of transactions
Ranking 2021 Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
1 Gonçalo Castro Ribeiro (DLA Piper ABBC) 1.500,00 1 * *
1 João Costa Quinta (DLA Piper ABBC) 1.500,00 1 * *
1 Nuno Azevedo Neves (DLA Piper ABBC) 1.500,00 1 * *
1 Bruno Santiago (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * *
1 Francisco de Sousa da Câmara (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * *
1 Nuno Galvão Teles (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * *
1 Ricardo Andrade Amaro (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * *
1 António Castro Caldas (Uría Menéndez - Proença de Carvalho) 1.500,00 1 * *
1 Carlos Costa Andrade (Uría Menéndez - Proença de Carvalho) 1.500,00 1 * *
By nº of transactions
Ranking 2021 Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
1 Gonçalo Castro Ribeiro (DLA Piper ABBC) 1 1.500,00 * *
1 João Costa Quinta (DLA Piper ABBC) 1 1.500,00 * *
1 Nuno Azevedo Neves (DLA Piper ABBC) 1 1.500,00 * *
1 Bruno Santiago (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * *
1 Francisco de Sousa da Câmara (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * *
1 Nuno Galvão Teles (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * *
1 Ricardo Andrade Amaro (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * *
1 António Castro Caldas (Uría Menéndez - Proença de Carvalho) 1 1.500,00 * *
1 Carlos Costa Andrade (Uría Menéndez - Proença de Carvalho) 1 1.500,00 * *
This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
RANKING YEAR TO DATE
EQUITY CAPITAL MARKETS
Rising Star Dealmakers - Legal Advisors TTR's Rising Star Dealmaker Rankings are comprised exclusively of associate-level advisors active in each given market.
By total value of transactions
Ranking 2021 Rising Star Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Variation Total value (%)
1 Diana Ribeiro Duarte (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * *
1 Pedro Capitão Barbosa (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * *
1 Miguel Stokes (Uría Menéndez - Proença de Carvalho) 1.500,00 1 * *
By nº of transactions
Ranking 2021 Rising Star Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Variation nº Of transactions
1 Diana Ribeiro Duarte (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * *
1 Pedro Capitão Barbosa (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * *
1 Miguel Stokes (Uría Menéndez - Proença de Carvalho) 1 1.500,00 * *
This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here.
INDEX
OVERVIEW
PRIVATE EQUITY
VENTURECAPITAL
ASSETACQUISITION
EQUITY CAPITALMARKETS
LARGESTTRANSACTIONS
DEAL OF THE MONTH
TTR RADAR
RANKINGS
TTR - Transactional Track Record www.TTRecord.com Monthly Report - May 2021
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