Pennsylvania regional M&A update: H1 2024

Introduction

Baker Tilly Capital, LLC’s Philadelphia & Central Pennsylvania regional M&A update provides a recap of middle market transactions (i.e. deals with reported enterprise value between $10 million and $1 billion) with the target company located in Philadelphia & Central Pennsylvania region.

Transaction activity

Middle market M&A activity in the Philadelphia & Central Pennsylvania region increased year-over-year (YoY) in H1 2024 and remained flat compared to H2 2023. The aggregate disclosed value of completed transactions were also higher YoY while aggregate disclosed value were lower compared to H2 2023. There was a total of 23 reported announced middle market M&A transactions during H1 2024, a 92% increase from H1 2023 and flat when compared with H2 2023. The aggregate disclosed value of middle market M&A transactions in the Philadelphia & Central Pennsylvania region totaled $3.8 billion during H1 2024, a 48% increase from H1 2023 and a 7% decrease from H2 2023.