M&A MARKET UPDATE FEBRUARY 2021 U.S. MONTHLY REVIEW
Notable Trends in February 2021
Year-over-year, capital invested and deal count decreased by 34.2% and 37.7%, respectively. When compared to the previous month, capital invested decreased by 68.3%, while deal count decreased by 30.1%. This marks the second month in a row with a decrease in both capital invested and deal count. Median deal size in the U.S. increased 240.5% year-over-year, due to last February being the start of the Covid recession. However, deal size is down by 33.5% compared to the prior month. This year-over-year increase shows that even though less deals are being completed, the median deal size has remained around $100 million for the fifth month in a row. The EV/EBITDA median has held steady and only decreased by 2.3% in February compared to last month. The continued decrease across deal count and EV/EBITDA shows investor sentiment continues to stabilize off the pandemic highs of November 2020.
