IMCAS Medical Aesthetic’ consolidation have we reached an inflection point?
Consolidation has been Challenged by the Deterioration Of The Macroeconomic Environment With A Worsening Impact From Q2 2022, M&A bifurcated from H1 2022, activity reduced due to the uncertainty created by Russia’s war with Ukraine, destruction of value induced by soaring raw materials and energy prices. Economic Stagnation coupled with major uncertainties has been a poison for deal activity in 2022, even if it was mitigated for aesthetics primarily because of the resilience of anti-ageing, beauty and personal care. Shrinking of average and median transaction value (av. $ 249m in 22’ vs $ 401m in 2021). As a result we have experienced a decrease in the number of disclosed transactions (34 in 2022 vs. 53 in 2021), and a come-back of financial buyers reversing the ratio of the investors’ statistics, while the 2020-2021 speculative bubble of SPAC transactions has declined).
