Broker M&A: When private equity’s interest cools
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Broker M&A: When private equity’s interest cools

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For a long time, private equity-backed brokers had it easy.

Debt was cheap, tuck-in acquisition opportunities plentiful, and merger arbitrage high. Private equity interest was intense, giving sellers a choice of buyer, and an automatic uplift on exit multiples from 2010 right through to 2022.

These

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