French private equity (PE) experts are facing performance anxiety as 2024 turns into 2025 at a time when PE exits have plummeted to their lowest level since 2013.

At the same time, there is a fierce fight for quality assets, with trade buyers providing stiff competition to sponsors. And, to keep everyone on their toes, the exit market remains dogged by political uncertainty as a result of a hung parliament.

A consultancy called Astek, which is backed by ICG, is an example of a PE-backed company with ambitious plans, despite the headwinds. It wants to carry out half a dozen bolt-on deals per year over the 2025-2027.

Arezki Yaiche, Mergermarket’s French bureau chief, and senior reporter Myriam Mariotte join Dealcast host Julie-Anna Needham to discuss why French exits remain so tricky.

·         Why are dealmakers finding it hard to move beyond their pre-election wait-and-see stance?

·         Why are regulatory issues so important in France?

·         How has Mergermarket’s French team begun to take the Pulse of the market?

All this and more in this week’s Dealcast