Introduction
In the first quarter of 2022, U.S. middle market deal value and volume experienced somewhat of a pullback from year-end 2021 levels. This is to be expected, as the first quarter of any given year is typically slow in terms of transaction activity in the middle market. This first quarter also follows a late 2021 period during which many transactions were rushed to get ahead of potential new tax legislation that never happened. While transaction volume was down in the first quarter of 2022 relative to the first quarter of 2021, deal value increased in 2022 though only by a slim margin ($49 billion vs. $50 billion).
Also in This Issue
U.S. Deal Value & Volume
EBITDA Multiples
EBITDA Multiples by Buyer Type
U.S. Deal Volume by Industry
Debt Multiples
Number of Deals by Buyer Type