Platform LBO and growth equity as a share of all PE deals

Download PitchBook’s Report here.

In the second quarter of 2024, add-on transactions accounted for a significant 77.4% of all PE buyouts, marking an increase of 226 basis points over the 2023 average. This trend highlights the ongoing strategic emphasis on consolidation and operational synergies within the PE sector. Despite this strength, our analysis forecasts a stabilization in this trend, with little room for further growth as we move into the latter half of 2024. Anticipated lower interest rates could spur a resurgence in overall deal activity; however, this increase may lead to a “crowding-out” effect, reducing the relative share of add-on transactions. It is worth monitoring these statistics closely, as they could signal the early signs of a broader recovery in dealmaking.