Industrial Growth | Third Quarter 2023
November 2023 – Merger and acquisition activity in the Industrial sector remained steady in Q3 with 127 transactions, as prolonged expectations for high interest rates kept transaction activity constant. While transaction volumes did not change on a quarter-over-quarter basis, acquisition trends differed from the prior quarter with Industrial manufacturers, especially larger public and private equity backed companies, appearing more comfortable deploying capital in middle-market transactions. Public companies were very active acquirers across all sectors as they sought market advantages by acquiring companies with manufacturing synergies or new business segments.
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