After a positive trend in 2021, middle market M&A activity in California declined significantly in the first half of 2022, making it the lowest recorded total in recent years. The average value of reported deals remained flat in the first and second quarters of 2022.
California middle market M&A transactions
Number of closed transactions (1)
Source: S&P Capital IQ
(1) Includes only transactions with disclosed enterprise value between $10 million and $1 billion.
California middle market M&A transactions
Aggregate value of closed transactions (1)
Source: S&P Capital IQ
(1) Includes only transactions with disclosed enterprise value between $10 million and $1 billion.
Based on the number of transactions, strategic buyers continued to be the most active buyer type in the first half of 2022. During these quarters, strategic buyers represented 99% of closed transactions with reported data.
The information technology segment was the most active during the first half of 2022, accounting for 35% of M&A deals announced. The telecommunication services and consumer discretionary segments accounted for the second and third largest categories for the period with 14% and 13% of transaction volume, respectively.
H1 2022 California middle market M&A transactions
Number of transactions by industry sector (1) (2)
Source: S&P Capital IQ
(1) Includes only transactions with disclosed enterprise value between $10 million and $1 billion.
(2) Percentages may not total 100% due to rounding.
Baker Tilly Capital professionals develop mergers and acquisitions (M&A) updates in different industries and regions. These reports provide an overview of M&A activity, including:
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