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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.

Middle-market M&A activity in the Great Lakes region dropped in the first quarter of 2019 (Q1 2019) with 18 deals compared to an average of 27 deals per quarter in 2018. The first quarter tends to see less activity than the fourth quarter of the previous year with four of the last five years showing less deal volume. Aggregate transaction values for middle-market deals reported during Q1 2019 was $1.2 billion. While the number of transactions decreased compared to the previous quarter (Q4 2018), average deal value increased by $3 million to $66.5 million.

Source: Capital IQ and Baker Tilly Capital, LLC Insights

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