Resource | Baker Tilly Capital Insider
California regional M&A update: H1 2024
Introduction
Baker Tilly Capital, LLC’s California regional M&A update provides a recap of middle market transactions (i.e. deals with reported enterprise value between $10 million and $1 billion) with the target company located in California.
Transaction activity
Middle market M&A activity in California continued to in decline in H1 2024. Both the number of transactions and the aggregate disclosed values of announced transactions declined relative to H2 2023 and over the five-year look-back period. There was a total of 56 reported announced middle market M&A transactions during H1 2024, a 28% decrease from H2 2023 and a 30% decrease when compared with H1 2023. The aggregate disclosed value of middle market M&A transactions in California totaled $10.2 billion during H1 2024, a 19% decrease from H2 2023.
Transaction profiles
Strategic buyers were the most active buyer type in H1 2024 in California. During the second half of 2023, strategic buyers represented 68% of announced transactions with reported data.
Middle market M&A transactions in California were most active in the industrials sector, accounting for 23% of transactions during H1 2024. Financials, consumer discretionary and healthcare sectors made up the second, third and fourth categories representing 17%, 17% and 11%, respectively. Information technology, materials, communication services, consumer staples and utilities rounded out the balance, representing approximately 32% of the middle market M&A transactions in H1 2024 in California.
Mergers and acquisitions reports
See reports for different industries and regions
Baker Tilly Capital professionals develop mergers and acquisitions (M&A) updates in different industries and regions. These reports provide an overview of M&A activity, including:
- M&A activity by market segment
- Transaction data for middle market M&A activity
- Buyers and targets by location
- Notable transactions closed during the period of the report
