The site uses cookies to provide you with a better experience. By using this site you agree to our Privacy policy.


APAC Mid-Market Mergers and Acquisitions report | Q1 2024

Moore Australia

Moore Australia is a network of independent accounting, audit and advisory firms across Australia, and an independent member of the Moore Global Network, the 11th largest professional services network, globally.
Highlights of the report include:
  • Q1 FY24 saw a significant slowdown in M&A activity in Australia due to rising debt costs and stricter lending terms, resulting in deal delays.
  • Despite the slowdown, transaction volume in Australia & New Zealand remained consistent with the previous two quarters, reflecting market adaptation to changing economic conditions.
  • Services businesses took the lead in deal count, surpassing the IT sector, as the tightening job market prompted acquirers to seek inorganic ways of accessing top talent.
  • Japan continued to drive M&A activity in the APAC region, with IT businesses remaining in high demand due to the AI boom of 2023.
  • Mid-market deal volumes held steady in Australia & New Zealand, with an average deal value increase from the previous quarter.
  • A notable rise in divestment and in-specie distribution transactions was observed, which may not be included in the deal data.
  • Overall, deal-making activity across APAC softened for the second consecutive quarter, with a decline in the number of announced deals compared to the previous quarter.
  • The RBA's series of interest rate hikes starting in May 2022 increased the cost and difficulty of obtaining acquisition finance, contributing to the decline in M&A activity.
  • Increased interest rates led to a decline in private company valuations, with businesses requiring more equity to bridge funding gaps. Those with access to finance secured against fixed assets were less affected.

At Moore Australia, we partner with you to provide clarity, guidance and hands-on support at all stages of complex business transactions. Find out how our corporate finance teams around the country can help you.