AlixPartners Mid-Market Debt Report H1 2024 Review

The AlixPartners Mid-Market Debt Report serves as a technical report detailing the state of mid-market debt transactions in the UK and Europe for the first half of 2024 and provides an outlook for the second half of the year. The report indicates a recovery in M&A activity, with a 33% increase in volume in EMEA compared to the same period in the previous year. It highlights a slight uptick in investor appetite due to expectations of interest rate reductions, which have begun to materialize. The report documents that banks have increased their participation in leveraged transactions, now accounting for 46% of such deals, up from 32% over the past three years. Additionally, the report outlines the resilience of debt activity, noting a rise in refinancing and LBO activities. It concludes with insights on the impact of macroeconomic stability on transaction growth, emphasizing the potential for increased deal activity as market conditions improve.