Buy-and-build activity has hit an eight-year high as a percentage of total private equity deals in Europe, according to data from Preqin.

The statistics show that it accounted for 34% of all private equity deals in the first quarter of this year; Preqin identified 236 such deals worth an aggregate $12.6 billion, compared with 102 worth $4.9 billion in the first quarter of 2006.