Cardiology – Q1 2022 Acquisition Activity and Outlook
The 1st quarter of 2022 delivered two reported cardiology partnerships for this specialty in the Early Pioneering lifecycle stage PE interest remains consistent and seems to be building
FOCUS Telecom U.S. Communications Service Provider Quarterly: Spring 2022 Report
Public Markets
The FOCUS Communications Service Provider Index (CSPI) once again ended up in negative territory after it dropped 7.9% in the past three months. This marks the third straight period where the sector posted a negative return.
FOCUS Telecom Business Services Quarterly: Spring 2022 Report
Public Markets
The FOCUS Telecom Business Services Index (TBSI) continued to alternate between positive and negative returns each reporting period. Unfortunately, this period was a negative return as the TBSI dropped 7.5% in the past three months.This underperformed the 5.0% drop in the S&P 500 but outperformed the 9.1% loss in the NASDAQ over the corresponding time period. Over the past 12 months the TBSI is in the black with a small gain of 2.3%. However, this return lags both the 14.0% gain in the S&P 500 and the 7.3% gain in the NASDAQ over the past year. Sector multiples are relatively unchanged from a year ago. The TBSI’s revenue multiple held steady at 1.0x, while the EBITDA multiple ticked up slightly from 10.7x a year ago to 10.9x at the end of the current reporting period.
FOCUS Carrier-Focused Telecom Technology Quarterly: Spring 2022 Report
Public Markets
The FOCUS Carrier-Focused Telecom Technology Index (CFTTI) suffered a second straight reporting period in negative territory, although the decline this period was only slight at 0.3%. Even with this period’s decline, the sector still outperformed both the S&P 500 (down 4.2%) and the NASDAQ (down 11.5%) over this past three months. The sector still remains in positive territory for the full year with a gain of 12.6%. This gain lagged the 14.8% increase in the S&P 500 over the past year, but was higher than the 4.2% gain in the NASDAQ. Sub sector multiples ticked up slightly compared to a year ago. The sub sector revenue multiple went from 2.3x to 2.5x, while the sub sector EBITDA multiple expanded from 11.2x to 12.0x.
FOCUS Enterprise-Focused Telecom Technology Quarterly – Winter 2022
Public Markets
The FOCUS Enterprise-Focused Telecom Technology Index (EFTTI) dipped sharply into the red this reporting period with a three-month loss of 11.0%. While the broader market indices were down as well, the EFTTI still underperformed both the S&P 500 (down 2.0% for the period) and the NASDAQ (down 8.1% for the period). The sector still managed to remain in positive territory for the full year period with a modest gain of 4.1%. However, this once again underperformed both the 21.6% gain in the S&P 500 and the 9.0% gain in the NASDAQ over the corresponding time frame. Sector multiples closed out the period at 6.0x revenue and 23.5x EBITDA. Both of these represent slight declines from year-ago multiples of 6.3x revenue and 24.1x EBITDA.
Precision Metalworking Industry Report 2021
Precision Metalworking is experiencing an unprecedented period of consolidation. The FOCUS Advanced Manufacturing team has assisted owners and buyers of industry participants on 19 transactions and has dedicated a team of seven professionals to assist business owners in the industry as they navigate this terrain. We provide M&A advisory services and locate the capital businesses need to grow. Our team is composed of seasoned investment bankers and advisors with extensive operating experience in manufacturing and distribution backed by a deep research team. Our latest newsletter introduces you to our well-versed and experienced Precision Metalworking team and discusses topics such as market highlights, our transaction activity, industry trends and much more.
Supply Chain Logistics Index – Q4 2021
The logistics industry has gone through a tremendous amount of turmoil since March 2020 and the volatility continues. Business owners are thinking about major players in the market, trends and how to stay competitive. Our quarterly report begins to address these topics.
