Leads for new deals rebounded in February, following the middle market’s worst January on record, but deal closings continued to fall, as did availability of financing, according to the Mid-Market M&A Conditions Index (MACI). (See related chart).
While February’s healthy scores for early-stage activities, such as leads and signed letters, may offer hope that dealmaking will pick up later in the year, the tally of completed deals continues to bode ill. The first two months of 2016 delivered just 236 closed middle-market transactions, the worst deal volume for the period since 1991, based on analyzing data from Thomson Reuters. (See the table, below, for a selected list of transactions that were completed in February.)