Middle market M&A in the Great Lakes: a look at the latest trends and transactions
Baker Tilly Capital, LLC recently released their Great Lakes M&A update report, which highlights the middle market transactions in the Great Lakes states of Illinois, Indiana, Michigan, Minnesota, Ohio or Wisconsin in H2 2022.
Here are some key takeaways from the report:
- Middle market M&A activity increased in the Great Lakes region compared to H1 2022, with 63 reported closed transactions and an aggregate disclosed value of $13.3 billion
- However, activity decreased compared to H2 2021, with a 29% decrease in the number of closed transactions and a 27% decrease in aggregate disclosed value
- Average disclosed EV/Revenue multiples decreased by 20% in H2 2022 relative to H1 2022, while average disclosed EV/EBITDA multiples remained consistent
- Illinois had the most activity in the region, followed by Minnesota and Ohio, while Indiana and Wisconsin had the fewest deals close
- Strategic buyers represented 100% of closed transactions with reported data in Q3 and Q4 2022
- The top five industries driving middle market M&A transactions in the Great Lakes region during H2 2022 were industrials, healthcare, financials, information technology, and consumer discretionary
