New England regional M&A update: H1 2024

Introduction

Baker Tilly Capital, LLC’s New England regional M&A update provides a recap of middle market transactions (i.e., deals with reported enterprise value (EV) between $10 million and $1 billion) with the target company located in any of the New England region states of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, or Vermont.

Transaction activity

Middle market M&A activity in the New England region remained slow in H1 2024. The number of announced transactions increased marginally compared to H2 2023 but was slightly below the number of announced transactions in H1 2023. The aggregate disclosed values of completed transactions decreased relative to both H1 2023 and H2 2023.

There was a total of 32 announced middle market M&A transactions during H1 2024, a 3% increase from H2 2023 and a 9% decrease when compared to H1 2023. The aggregate disclosed value of middle market M&A transactions in the New England region totaled $4.5 billion during H1 2024, a 52% decrease from H2 2023 and a 13% decrease from H1 2023.