There were 41 transactions that closed in the Pittsburgh regional market during the first quarter of 2017 (Q1-2017), a decline of approximately 28.1 percent from the 57 closed transactions in the prior quarter (Q4-2016). The 41 closed transactions also marks a decrease from the 51 closed transactions during the same period in 2016.
While M&A activity slowed in Q1-2017 both regionally and nationally, it is important to note that this decline is compared to the white hot M&A market in 2015 and 2016. Strong stock market performance and perceived stability pushed U.S. M&A multiples even higher in Q1-2017, to 10.8x. Additionally, although private equity exits to strategic acquirers decreased substantially, secondary buyouts have become more common as industry dry powder grows.
For more information on this deal, or to learn how Baker Tilly Capital specialists can help, contact our team.