Great Lakes regional M&A update: Q3-2017

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. The “middle market” for purposes of this newsletter is defined as transactions with enterprise values between $10 and $200 million.

Middle-market M&A transactions in the Great Lakes region with reported transactions values between $10 and $200 million experienced a decrease in the total amount of deal volume and also a slight decrease in aggregate deal value during the third quarter of 2017 (Q3-2017). As illustrated below, the number of deals with reported values decreased to 22 during Q3-2017. During the last 12 months, an average of 26 deals closed per quarter. During Q3-2017, the aggregate value of deals with reported transaction values decreased slightly compared to the second quarter of 2017 (Q2-2017), but continues the trend of larger deal size closings. While the trend line for number of transactions and deal value have been downward sloping, larger deal sizes and higher EBITDA multiples are continuing. A growing economy and anticipated tax reform are expected to increase M&A activity in 2018.

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