- Following a strong rebound of M&A activity in Q2, deal activity continued at a rapid pace into the third quarter with increases in both deal volume and value.
- Coming off a sluggish start in the first quarter of 2014, US middle-market M&A activity rebounded strongly in the second quarter with significant increases in both deal count and dollar volume.
- US middle-market M&A activity in first quarter 2014 was disappointing as low volume, high value trends continued from the second half of 2013.
- Despite favorable macroeconomic factors in place for increased deal making, fourth quarter results for US middle market activity experienced a similar pattern seen throughout the majority of 2013.
- US middle market deal volume remained slow in the third quarter. The pattern of low deal count with high dollar volume transactions trending throughout the year continued into the third quarter. Valuations remain high, prompted by increased demand and low supply of quality companies (in addition to easy access to debt at historically low rates) suggesting pent up deal flow going into Q4 and FY 2014.