Olivier Dallemagne offers a summary on the effects of U.S. tariffs and steps towards a value creation plan.
US tariffs of up to 37% are hammering European exports.
Machinery, chemicals, and industrials are taking the hit.
But the impact doesn’t stop at exporters.
Cost shocks are flooding supply chains.
Procurement is under pressure.
And liquidity is tightening across the board.
Meanwhile:
- LPs are rebalancing
- Fundraising is slowing
- And 42% of PE-backed companies are now 5+ years old
→ Exit-ready on paper.
→ Margin-exposed in reality.
So here’s the question PE operators need to ask today:
Where will your next 100 bps of EBITDA come from, without waiting for the macro to fix itself?
📊 Latest PitchBook Data Highlights
- Germany, Switzerland, Ireland = most exposed to US tariffs
- Autos, medtech, chemicals, tech = top-impacted sectors
- Even non-exporters are suffering: inflation now hides in every input
Margins are no longer being compressed — they’re being redefined.
Value creation levers need to be followed.
Read the full article, Margins are Shrinking. Exits are Stalling. And Yet — Most Value Creation Plans Still Ignore This., on LinkedIn.