Activity Report 2022 - Bryan, Garnier & Co

The economic challenges that arose in 2022 were significant, with geo-political crises and the resurgence of inflation, as well as the end of cheap money and spiraling energy prices. These factors, combined with the war in Ukraine, created the worst equity and bond markets seen over the past generation. The market correction over the past year put an end to the SPAC boom, leaving many growth companies struggling to survive due to their inability to raise capital, despite delivering on their promised growth plans.

Despite these difficult market conditions, Bryan Garnier showcased its resilience and outperformed once again. While bulge-bracket investment banking revenues were down by 30-50% across the sector, our M&A revenues rose by more than 40%.

The bank company was able to shift its equity fundraising activity towards the private markets, making full use of its ability to provide clients access to US capital, which led to revenues more than doubling in this area of the business. The strength in these two sectors offset a big portion of the lower ECM activity, allowing the company to outperform its bulge-bracket investment banking competitors whose revenues were down by 30-50% across the sector.

Bryan Garnier’s full-service platform allowed the company to pivot towards more profitable markets and to continue building its team. The company added MDs across its private placement, healthcare, energy transition, business and tech-enabled services groups, as well as its debt and equity-linked capabilities.

In 2022, the company’s M&A teams executed 38 transactions, up from 33 transactions in the previous year, and increased revenues in this unit by over 40%. This achievement and higher level of activity further cemented the company’s leadership in mid-market M&A, particularly across technology and software. Bryan Garnier’s strengthened its BG IRIS team with more than 20 analysts who continue to unearth disruptive and investable themes across healthcare and technology-related sectors in order to provide clients with unique, evidence-based insights that create value.

Despite the difficult market conditions, the company’s ECM team led 13 IPOs and follow-ons, while the significant investment in building its platform has continued to pay off. Bryan Garnier’s pan-European footprint is stronger than ever, enabling the company to focus on regions where it can create value. The company’s dedication to taking a holistic approach to every transaction at each stage of the company’s development has led to its outstanding results for clients in 2022.

About Bryan, Garnier & Co

Bryan Garnier is a leading independent investment bank specializing in healthcare and technology-led companies in Europe. Our clients benefit from our deep industry knowledge, global perspective, and strong relationships with investors spanning private equity, venture capital, and institutional investors across the US, Europe, and Asia. Our corporate clients are disruptors operating in high-growth sectors focused on solving sustainability challenges. As a sector-driven investment bank, we offer full-service solutions, including access to public and private capital, M&A advisory, and equity research. Our partnership approach provides clients with tailored ideas and flawless execution to accelerate their long-term success. Our equity research team provides differentiated insights and investment themes to give our clients a competitive edge. Our independence and entrepreneurial culture ensure complete alignment with our clients, and our purpose is to help European pioneers become global champions. Clients choose Bryan Garnier as their long-term partner for our commitment to their success and unparalleled industry expertise.