Mark Birkett quoted by MergerMarket

Mark Birkett spoke with MergerMarket reporter Claire Rychlewski regarding the shift Covid-19 has caused among middle-market private equity firms. The economic fallout has private equity firms canvassing lenders more broadly than before to fund new buyouts, searching for best terms on capital in an environment that has become even more opaque.

The broader search comes as M&A activity has started to return with 78 buyout deals in the US announced in June compared to 50 in April, according to MergerMarket data. January and February saw 128 and 121, respectively.

Mark Birkett, a partner at Livingstone Partners, stated, “We’re receiving more in-bound inquiries from private equity firms as the feedback they’re getting from their legacy lending partners hasn’t been as favorable as they had hoped. As a result…we’re seeing debt advisory opportunities today that pre-Covid sponsors would have almost certainly executed themselves.

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