M&A Deal Volume Warms in Second Quarter

In our report for the first quarter, we described our deal volume in the first quarter as “tepid." According to Meriam Webster, “tepid” is synonymous with lukewarm. That translated to 22 closed deals during the first quarter.

We saw deal volume improve in the second quarter during which we closed 32 transactions. Given the headwinds that remains in the market generally, we are reluctant to describe this as a warming trend, but we were pleased to experience a deal climate that was a bit warmer during the second quarter. 

This quarter’s volume brings our 2024 total to 64 closed deals, which is down roughly 10% from the 72 transactions we closed during the second quarter of 2023.

Our average deal size during the second quarter was $35M, and industries included Cannabis, DSO, Energy, Healthcare, Industrial Hardware, Medical Aesthetics, MSO, Residential Services, Software, and Transportation.

During the third quarter we will be conducting our 20^th annual M&A Outlook Survey which will be shaped by top dealmakers. This year’s survey will look back on two decades of M&A trends as well as forecast the year to come.