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Baker Tilly Capital, LLC’s Great Lakes regional M&A update provides a recap of middle-market transactions where the target is located in Illinois, Indiana, Michigan, Minnesota, Ohio or Wisconsin. For purposes of this newsletter, the “middle market” is defined as transactions with enterprise values between $10 and $200 million.

M&A activity in the middle market stayed relatively steady throughout the first three quarters of 2019. Each quarter has averaged 19 deals, which is significantly lower than the 2018 average of 27 deals in the Great Lakes region. Aggregate transaction values for middle market deals reported during the third quarter of 2019 was $1.4 billion. The number of transactions decreased by one compared to the previous quarter while average deal value increased by $13.5 million to $75.5 million.

Great Lakes regional middle-market M&A activity

Source: Capital IQ and Baker Tilly Capital, LLC Insights

Read the full update

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