German buyout volumes stormed to their highest level since the end of 2009 in the second quarter this year, boosted by a large secondary transaction. Market participants expect such deals to continue to support activity in the absence of a trigger to spark more primary buyouts.

Buyout activity in the country in the three months to June comprised 18 deals worth a combined $2.6bn, based on disclosed deal data, according to Dealogic. The figure marked a resurgence, compared with the $320m-worth of deals announced the previous quarter, and made the second quarter the most active for announced deals since the fourth quarter of 2009, when 14 deals worth a total $3.7bn were struck.