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2023 M&A Deal Terms and Trends for Private Equity Buyers

Kip Wallen

Senior Director, Thought Leadership

Our 2023 SRS Acquiom M&A Deal Terms Study analyzes more than 2,100 private-target M&A transactions valued at more than $460 billion that closed between 2017 and 2022.

Find out how selected deal terms from the 2023 SRS Acquiom M&A Deal Terms Study compare when a private equity buyer (a PE fund directly acquiring a target company) or a private equity-backed buyer (PE portfolio company) is on the buy-side. Learn more about how financial buyers structure their bids to succeed against other buyers, such as with fewer and smaller earnouts.

Deal trend topics include:

  • Closing Considerations
  • Earnouts (excluding Life Sciences deals), Earnout metrics, and Earnout “Efforts Language and Operational Covenants
  • Purchase Price Adjustments (PPA), PPA Separate Escrows, and PPA Accounting Methodology
  • Survival (or not) of Seller’s General Reps and Warranties
  • Usage of Reps and Warranties Insurance
  • Deal & General Indemnification Escrows

Download the info sheet above.

Kip is a senior director leading the SRS Acquiom thought leadership practice, the mission of which is to share resourceful content built from SRS Acquiom expertise and proprietary data. In addition to facilitating scores of interactive presentations at M&A conferences and law firms, Kip authors a plethora of articles and data studies regularly utilized by the market. 

Previously, Kip was a part of the SRS Acquiom Transactional Group, where he collaborated with clients and counsel to negotiate M&A documents including purchase, escrow, payments, and other transactional agreements. Before joining SRS Acquiom, he was an attorney with a Denver-based boutique business law firm working on middle-market M&A deals.  

Kip holds J.D. and M.S. (Econometrics) degrees and is a member of the Colorado bar. 

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