Despite all of the high-profile merger and acquisition activity recently, a study from financial firm Baker Tilly showed M&A activity in Central Pennsylvania was down in the second quarter from the same period in 2014.
Baker Tilly’s report showed 30 closed deals in the second quarter, as opposed to 36 closed deals in the second quarter of 2014.
The quarter also slowed momentum in the M&A market after 45 deals closed in the first quarter.
That made the second quarter the weakest for M&A activity since the first quarter of 2013, according to the report.
As far as reported values — and the majority of the deals do not have reported values — second quarter deals averaged $24 million in the middle market, or deals between $5 million and $250 million. That’s down from $39 million in the second quarter of 2014 and way down from $65 million in the first quarter of this year.
The report includes metro markets of Harrisburg, Lancaster, the Lehigh Valley, Reading and Altoona/State College.