Looking at the individual buyer activity, we know not all transactions from all buyers are reported, with some of the larger buyer firms only reporting transactions of a certain size whereas other buyers include all acquisitions regardless of size. Based on the reported transactions, the most active buyers in 2016 are shown in the table below, with comparison totals for the last couple years:
Over the past two years, Acrisure has completed over 13% of all announced transactions, closing more than 1 deal each week and nearly 50% ahead of their next most active buyer. Although Acrisure recently completed a management buy-out of a significant portion of their private-equity backer, we believe they will continue to behave much like other PE-backed firms with their 3rd-party debt-capital partners.
The distribution of transactions between the different types of sellers are illustrated in the following two tables, the first showing the actual number of transactions and the second showing the percentage allocation between the four categories:
