Introduction
Overall transaction value and volume in the middle market in the third quarter of 2019 increased from the virtually identical levels observed in the first two quarters of the year, and deal value increased to its highest level over the observed historical period. Much of this increase was bolstered by generally favorable market and economic conditions in the U.S. throughout the third quarter, including the Fed’s decision to lower its benchmark rate twice over the course of the quarter. Overall deal value and volume in the third quarter was slightly higher than that of the third quarters of 2017 and 2018, which were among the more active quarters in our historical period analyzed.
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