The Lay of the Land: '24 Outlook and '23 Acheivements
In today’s turbulent times, our experience and ability to guide our clients through uncertainty to successful closing are more critical than ever.
- Darrell Butler
On behalf of everyone at Artemis, thank you for your continued support and partnership over the last 27 years!
Since our founding in 1997, we have completed hundreds of sale transactions generating over $6 billion for our clients. We are proud to have served these innovators and value creators in their transformational endeavors. Over our history, we have witnessed many cycles, and even amongst these, the last 18 months have been particularly noteworthy for their degree of uncertainty regarding rates and the direction of the economy. In today’s turbulent times, our experience and ability to guide our clients through uncertainty to successful closing are more critical than ever.
Out of the doldrums of 2023, activity has picked up meaningfully in the M&A world. Every day we speak with company owners and executives, private equity professionals, lawyers, accountants, and wealth managers. Q4 2023 saw a resurgence of activity with the promise of a much-improved M&A environment in 2024. Here at Artemis Transaction Advisors, pitch activity has been robust, and new mandate signings have increased significantly. We look forward to sharing our deal activity with you and working toward creating lasting value. Please enjoy our firm update below. Happy hunting!
M&A Market Update
- Following a record number of closings in 2021 and early 2022, the M&A market fell off a cliff.
- Fears of a recession and continued Fed rate increases took the wind out of the M&A sails.
- From September 2022 through September 2023, deal activity dropped precipitously, and valuation multiples contracted meaningfully.
- After a nearly 40% drop in deal volume in 2022, volume dropped again by 23.7% in 2023 according to S&P Global Market Intelligence.
- Anecdotal evidence drawn from our daily conversations with market participants suggests that the pent-up supply of businesses to be sold will begin to be released in Q1 2024, pushing volumes up this year.
- Stable to lower interest and inflation rates, relaxed lending standards, normalized supply chains, and record dry powder with a limited timeline for deployment will support the return to better pricing and an improved sale environment.
The Artemis Team Grows
- Artemis is pleased to have:
- Marci Butler join as Chief Financial Officer
- John Lahti rejoin as Managing Director and Head of Industrials, and
- Andrew Samuels rejoin as Vice President. - The Midtown-Atlanta Office of Artemis inaugurated its University of Georgia internship program.
- Artemis is seeking deal teams in Technology and Healthcare verticals; please send candidates our way, thanks!
Industry Newsletters
Our industry teams have published some compelling pieces providing insights into a few of our coverage areas. Find them here:
