Q4 2023 – QUARTERLY M&A MARKET RECAP
- Global Industrial Manufacturing (IM) M&A deal volume saw a decline in Q4-23, totaling 310 transactions, a 10.9% decrease compared to the Q4-22 total of 348.
- U.S. Industrial Manufacturing M&A deal activity declined slightly in Q4-23 with 100 transactions, compared to 102 from the prior year’s quarter.
- Q3-23 ended with uncertainty surrounding automotive-related activities. The UAW strike, which came to an end in late October, had an impact on Q4-23 automotive M&A transactions as volume remained roughly flat, with 19 transactions compared to 21 transactions in Q4-22.
- In Q4-23, global Private Equity (PE) transaction volume fell to 39 transactions, down 2.5% from Q4-22. Further, U.S. PE transactions decreased to 14 in Q4-23, compared to 17 deals in Q4-22. The lack of activity is likely due to heightened borrowing costs, which have constrained PE activity. This trend is expected to reverse in 2024 as interest rates stabilize and PE buyers look to deploy their more than $955 billion of uninvested capital (dry powder).
Read Industrial Manufacturing M&A Pulse Q4 2023 Full Report
