Business Services | First Quarter 2023
April 2023 – This issue of SOLIConnect includes a discussion with regard to the 4% increase of the Business Services Sector Index during Q1 2023, below the increases experienced by both the S&P 500 and the NASDAQ, as concerns about a potential recession and slowing employment demand impacted several subsectors. Despite rising interest rates, both strategic and financial acquirers continue to actively pursue acquisition opportunities. Notable transactions during the quarter include Concentrix’ acquisition of ServiceSource, United Real Estate Group’s acquisition of Platinum Realty, Paychex’ acquisition of NannyChex, and numerous others described in our report.
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