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August 2017

Q2 2017 Middle-Market M&A Update

Greenwich Capital Group LLC’s Q2 2017 Middle-Market M&A Update provides a data-driven analysis of the overall state of the U.S. middle-market M&A environment, which includes transaction volumes and values, valuation multiples and private equity deal flow. The report also highlights M&A trends in the Food & Beverage, Healthcare and Industrials sectors.

Key findings include the following:

  • Middle-market M&A activity continued its downward trend and hit a low of 6,302 reported transactions in Q2 2017. Aggregate deal value, conversely, remained in line with historical levels, totaling $47.4 billion.
  • Disclosed deal values for the first six months of 2017 averaged $74.8 million, representing the highest average deal size over a six-month span during any period since 2010.
  • Food & Beverage deal flow remained strong in Q2, driven by continued consolidation within the industry. Deal flow in the first two quarters of 2017 represented the highest back-to-back quarters in the last five years.
  • Healthcare Services and Medtech led Healthcare M&A activity in Q2 2017, as businesses in these sectors continue to mature from early-stage start-up companies into investible platforms for growth and diversification.
  • Industrials M&A activity experienced an 11% decrease in volume and 1% increase in value. It is anticipated that meaningful tailwinds remain in place for the remainder of 2017 as we continue to see strategic agendas defined by geographic and market expansion, technology advancement themes and consolidation.

View the complete Q2 2017 Middle-Market M&A Update for a more in-depth analysis of key market trends and observations.