Strong Activity Amidst COVID-19 Volatility
Baird's Industrial Equity Capital Markets franchise continues to help clients navigate the market volatility and raise capital to deleverage balance sheets, provide growth capital or provide liquidity for existing shareholders. The strength of Baird's Industrial sector expertise, long-term relationships and transactional experience have driven a diverse set of successful outcomes for clients recently, from established industrial companies to new industrial technologies.
Overall, Industrial equity offering volume is up over 31% year-over-year and capital raised is up more than 27%, with 17 transactions priced year to date across the sector. Baird has had a very strong start to 2020, and we continue to win market share in today's increasingly competitive Industrial market. Baird has advised on approximately 55% of all Industrial ECM deals since March 1st across IPOs, follow-on offerings and SPACs.
Industrial League Table Since the February Market Peak Sorted by Deal Volume1
| RANK | BANK | % OF TOTAL OFFERINGS |
2019 RANK |
|---|---|---|---|
| T1 |  |
55% | #1 |
| T1 | Citi | 55% | #4 |
| T1 | Goldman Sachs | 55% | #7 |
| T4 | BofA Securities | 33% | #2 |
| T4 | Credit Suisse | 33% | #14 |
| T4 | JPMorgan | 33% | #4 |
| T4 | Raymond James | 33% | #10 |
| T4 | RBC Capital Markets | 33% | #14 |
| T4 | Stifel | 33% | #14 |
| 10 | Morgan Stanley | 22% | #3 |
| 1 Dealogic. Includes offerings between February 19, 2020 and June 30, 2020. Excludes mining and metal and steel issuers, bought deals and SPACs. | |||
Baird's Recent Industrial Equity Tombstones
The following transactions were selected for their relevance to our Industrial experience and do not represent all Baird transactions. View the transactions page on our website for a full listing.
