The middle market is facing the least hospitable M&A climate in years. With confidence low, credit tight and politics uncertain, the volume of deals that closed in the first quarter fell to levels last seen in the wake of the Lehman Bros. collapse. And while some sunlight peeked through the clouds as corporate divestitures soared at the end of the quarter, the moment didn’t last. Dealmakers on the lookout for signs of change in the spring found little to justify their hopes that activity in the second half of the year will prove more fruitful.

A look at the recent data on deal volume and value is discouraging. According to Mergers & Acquisitions’ analysis of the numbers from Thomson Reuters, only 330 middle-market transactions closed in the first quarter of 2016, the lowest deal volume for any period since the first quarter of 2009. (See related chart). At that point in time, the financial world was reeling from Lehman’s bankruptcy, and merely 236 mid-market deals were completed.

One factor contributing to the M&A slow-down is the tightening of credit, as reported in depth in our May cover story. In February, the Availability of Financing component of our Mid-Market M&A Conditions Index (MACI) was at its lowest level since we began the monthly polls in 2013. The Availability of Financing has been rising since the low point but is still under 50, indicating a contraction.

Traditional banks continue to face regulatory scrutiny about how much leverage they should supply to private equity transactions, which has caused them to shy away from lending to PE-backed deals. Capital constraints and shareholder activism are putting pressure on publicly-traded business development companies, or BDCs. And collateralized loan obligation, or CLO, issuances are decreasing because of risk retention regulations. Non-traditional lenders have stepped up, but the loan environment is still challenging for PE firms trying to close deals.

At $59.4 billion, deal value in the first quarter of 2016 was the lowest since the same period in 2012 (also an election year). The first quarter of 2012 was another low point for the middle market in recent history. But in the case of 2012, the fourth quarter made up for the loss, and the total for the year proved healthy. Many dealmakers tell Mergers & Acquisitions they hope for a similar turnaround later in 2016.

One trend that may help boost M&A later in the year is that many corporations are engaged in a disciplined practice of shedding slow-growth product lines to focus on faster-growing brands. In March, the Divestitures component of MACI soared to 88.3. Among the companies divesting are Newell Rubbermaid (NYSE: NWL) and Procter & Gamble Co. (NYSE: PG). Although the Divestitures score dropped down to 56.5 in April, that’s still on the expansion side of the index, and we expect to see more corporate spin-offs throughout 2016.

In the short term, one cause of the paralysis in M&A is the uncertainty of an election year. A telling example is found in the health care sector. As we reported in the May issue of Mergers & Acquisitions, expectations for M&A in health care have plummeted over the last year, according to the Mid-Market Pulse (MMP), a sentiment indicator based on our monthly surveys. Previously, the health care industry received the highest scores of the six high-growth sectors we measure. In recent years, consolidation in the sector has been driven by the Affordable Care Act, as providers have wielded M&A to become more efficient. Many poll respondents expressed uncertainty about the future of the ACA, due to the potential for a political party change in the presidency.

Which presidential candidate would be more auspicious for dealmaking overall is debatable. Although traditionally, Republicans are perceived as more business-friendly, the current campaign season is anything but traditional. One recent survey conducted by Intralinks reports that 46 percent of U.S. transaction professionals believe presumptive Republican nominee Donald Trump would have a negative impact on M&A, as compared with 31 percent saying the same of Democratic frontrunner Hillary Clinton.

Certainty is one of the prerequisites for a healthy M&A environment. One thing is certain. Whoever wins the presidency, once the election is over, there will be more certainty.

See the table below for middle-market transactions that closed in Q1.

Editor’s Note: To measure activity in the middle market, Mergers & Acquisitions looks at transactions that fulfill several requirements: Deals must have a value of roughly $1 billion or less; they must be completed (not just announced) within the timeframe designated; and they must include at least one U.S. company in the role of buyer and/or seller. Excluded from our charts are: recapitalizations; self tenders; exchange offers; repurchases; stake purchases; and transactions with undisclosed values, buyers or sellers. Our data provider is Thomson Reuters, which updates its databases continuously. We use the data available at press time.

Key Middle-Market M&A Deals Completed in Q1 2016

Date Acquirer Target Target Industry Value ($mil)
02/01/16 Coty Inc Hypermarcas SA-Beauty Business Soaps, Cosmetics, and Personal-Care Products 986.0
03/01/16 Sun Life Assurance Co of Canad Disability ReIns Mgmt Svcs Inc Insurance 975.0
01/22/16 DSV A/S UTi Worldwide Inc Transportation and Shipping (except air) 970.8
01/15/16 Pinnacle Foods Inc Boulder Brands Inc Wholesale Trade-Nondurable Goods 962.5
03/03/16 Entergy Corp Union Power Partners-Union Electric, Gas, and Water Distribution 948.0
02/04/16 Icahn Enterprises LP The PEP Boys-Manny Moe & Jack Miscellaneous Retail Trade 894.0
03/09/16 Lupin Ltd GAVIS Pharms LLC,Novel Labs Drugs 880.0
02/02/16 NetApp Inc SolidFire Inc Computer and Office Equipment 870.0
01/26/16 Amadeus IT Group SA Navitaire Inc Prepackaged Software 830.0
02/01/16 comScore Inc Rentrak Corp Business Services 813.2
02/05/16 Mattress Firm Holding Corp HMK Mattress Holdings LLC Retail Trade-Home Furnishings 780.0
03/01/16 Fluor Corp Stork Holding BV Machinery 756.2
03/22/16 Lone Star Funds N&W Global Vending SpA Machinery 751.4
03/14/16 Western Gas Partners LP Springfield Pipeline LLC Oil and Gas; Petroleum Refining 750.0
01/15/16 Protective Life Corp Genworth Life & Annuity-In-for Insurance 661.0
03/01/16 Country Club Plaza KC Highwoods Ppty Inc-Country Real Estate; Mortgage Bankers and Brokers 660.0
02/01/16 TransCanada Corp Talen Energy Corp-Ironwood Electric, Gas, and Water Distribution 654.0
02/11/16 IHS Inc Oil Price Information Service Business Services 650.0
01/11/16 Kinross Gold Corp Barrick Gold Corp-Bald Mtain & Mining 610.0
01/01/16 Treasury Wine Estates Ltd Diageo PLC-US & UK Wine Op Food and Kindred Products 600.0
02/01/16 Financial Engines Inc Mutual Fund Store LLC Investment & Commodity Firms,Dealers,Exchanges 584.0
02/01/16 Blackstone Group LP Immofinanz AG-Logistics Real Estate; Mortgage Bankers and Brokers 580.7
03/22/16 Rizvi Traverse Management LLC RealD Inc Communications Equipment 560.1
02/01/16 CACI International Inc L-3 Natl Sec Solutions Inc Business Services 550.0
03/01/16 Sazerac Co Inc Brown-Forman-Brand Assets Food and Kindred Products 543.5
01/21/16 Svenska Cellulosa AB SCA Wausau Paper Corp Paper and Allied Products 514.5
01/14/16 Horizon Pharma PLC Crealta Pharmaceuticals LLC Drugs 510.0
02/05/16 Calpine Corp Granite Ridge Hldg-Energy Ctr Electric, Gas, and Water Distribution 500.0
02/18/16 Cipla (EU) Ltd InvaGen Pharmaceuticals Inc Drugs 500.0
03/15/16 GTCR LLC Lytx Inc Business Services 500.0
02/05/16 Haosheng Investment Co Ltd ARCAS Automotive Group LLC Transportation Equipment 491.2
01/07/16 Dover Corp Tokheim-Dispenser & System Bus Machinery 474.3
02/13/16 FNB Corp,Naples,Hermitage,PA Metro Bancorp Inc,Harrisburg Commercial Banks, Bank Holding Companies 463.5
02/29/16 Wipro Ltd HealthPlan Holdings Inc Insurance 460.0
01/07/16 Lamar Advertising Co Clear Channel Outdoor Hldg-Ass Advertising Services 458.5
03/02/16 Harrison Street Re Capital LLC Campus Crest Communities Inc Investment & Commodity Firms,Dealers,Exchanges 455.2
01/15/16 PulteGroup Inc JW Homes LLC-Certain Assets Construction Firms 450.0
03/01/16 Yadkin Financial Corp NewBridge Bancorp Commercial Banks, Bank Holding Companies 449.4
02/01/16 CST Brands Inc Flash Foods Inc Retail Trade-Food Stores 425.0
01/07/16 Symrise AG Pinova Holdings Inc Chemicals and Allied Products 417.0
02/16/16 Gray Television Inc Schurz Commun Inc-Tv & Radio Radio and Television Broadcasting Stations 415.3
02/11/16 NuVasive Inc Ellipse Technologies Inc Measuring, Medical, Photo Equipment; Clocks 410.0
02/01/16 Mallinckrodt PLC The Medicines Co-Hemostasis Drugs 410.0
03/04/16 Select Medical Holdings Corp Physiotherapy Assoc Hldg Inc Health Services 400.0
03/17/16 Thales SA Vormetric Inc Prepackaged Software 400.0
02/04/16 MAP Fee Owner LLC Brandywine Rlty Tr-Office Real Estate; Mortgage Bankers and Brokers 398.1
03/01/16 DaVita HealthCare Partners Inc The Everett Clinic Inc Health Services 385.0
01/29/16 NorthStar Asset Mgmt Grp Inc Townsend Holdings LLC Investment & Commodity Firms,Dealers,Exchanges 380.0
02/24/16 RREEF Funds LLC West 8th,Seattle,Washington Real Estate; Mortgage Bankers and Brokers 370.0
02/10/16 Astellas Pharma Inc Ocata Therapeutics Inc Drugs 362.7
02/01/16 Kinder Morgan Inc BP Products NA-Terminals(15) Oil and Gas; Petroleum Refining 350.0
02/02/16 Securitas AB Diebold Inc-Business Electronic and Electrical Equipment 350.0
03/25/16 Littelfuse Inc TE Connectivity-Circuit Bus Electronic and Electrical Equipment 350.0
03/02/16 Sinclair Broadcast Group Inc Tennis Channel Inc Radio and Television Broadcasting Stations 350.0
02/01/16 ArcLight Capital Partners LLC TransMontaigne GP LLC Oil and Gas; Petroleum Refining 350.0
01/15/16 Zayo Group Holdings Inc MTS Allstream Holdings Inc Telecommunications 348.5
03/09/16 Web.com Group Inc Yodle Inc Advertising Services 342.0
02/23/16 Comtech Telecommun Corp TeleCommunication Systems Inc Prepackaged Software 329.7
01/11/16 Liberty Utilities Co Park Water Co Electric, Gas, and Water Distribution 327.0
03/11/16 SS&C Technologies Holdings Inc Citigroup Inc-Alternative Inv Investment & Commodity Firms,Dealers,Exchanges 321.0
03/04/16 Cisco Systems Inc Leaba Semiconductor Ltd Electronic and Electrical Equipment 320.0
03/09/16 ISQ Global Infrastructure Fund WPX Energy Inc-San Juan Basin Oil and Gas; Petroleum Refining 309.0
02/04/16 Honeywell International Inc COM DEV International Ltd Electronic and Electrical Equipment 308.4
03/01/16 Cerberus Capital Management LP Avon Prod Inc-N Amer Bus Soaps, Cosmetics, and Personal-Care Products 300.0
03/09/16 Trend Micro Inc TippingPoint Technologies Inc Computer and Office Equipment 300.0
02/26/16 Computer Sciences Corp UXC Ltd Business Services 296.7
01/05/16 Omnicell Inc Aesynt Inc Prepackaged Software 275.0
01/05/16 Smith & Nephew PLC Blue Belt Holdings Inc Measuring, Medical, Photo Equipment; Clocks 275.0
01/14/16 FireEye Inc iSIGHT Partners Inc Business Services 275.0
01/07/16 Sinocare Inc Nipro Diagnostics Inc Measuring, Medical, Photo Equipment; Clocks 273.0
01/04/16 CONMED Corp SurgiQuest Inc Measuring, Medical, Photo Equipment; Clocks 265.0
01/13/16 HEICO Electn Tech Corp Robertson Fuel Systems LLC Aerospace and Aircraft 255.0
03/21/16 Summit Materials Inc Boxley Materials Co Stone, Clay, Glass, and Concrete Products 252.1
02/01/16 Hudson's Bay Co Gilt Groupe Inc Miscellaneous Retail Trade 250.0
03/16/16 Keane Group Holdings LLC Trican Well Svc Ltd-US Asts Construction Firms 247.0
01/06/16 UOP LLC Thomas Russell LLC Construction Firms 240.0
01/01/16 Metro-Goldwyn-Mayer Inc UAMG LLC Motion Picture Production and Distribution 233.9
02/03/16 Cubic Corp GATR Technologies Inc Communications Equipment 232.5
03/22/16 RPX Corp Inventus LLC Business Services 232.0
01/04/16 Westinghouse Electric Co LLC CB&I Stone & Webster Inc Business Services 229.0
02/08/16 Prestige Brands Holdings Inc DenTek Oral Care Inc Soaps, Cosmetics, and Personal-Care Products 225.0
03/17/16 IDEX Corp Akron Brass Co Metal and Metal Products 224.2
02/03/16 AIM Aerospace Inc SPV AIM Aerospace Inc Aerospace and Aircraft 220.0
01/05/16 Shorenstein Realty Services LP Bank of America Plaza,Atlanta Real Estate; Mortgage Bankers and Brokers 220.0
02/03/16 Investor Group Resolution Ppty-Designer Real Estate; Mortgage Bankers and Brokers 218.6
02/29/16 AptarGroup Inc MegaPlast GmbH Rubber and Miscellaneous Plastic Products 215.9
03/02/16 Greystar Equity Partners VIII The Chelsea,Chelsea,NY Real Estate; Mortgage Bankers and Brokers 211.3
03/21/16 Helen of Troy Ltd Steel Technology LLC Miscellaneous Manufacturing 210.0
01/26/16 Northwood Investors LLC CeGeREAL SA Investment & Commodity Firms,Dealers,Exchanges 208.7
01/05/16 TransDigm Group Inc Breeze-Eastern Corp Aerospace and Aircraft 205.9
02/03/16 Endologix Inc TriVascular Technologies Inc Measuring, Medical, Photo Equipment; Clocks 202.8
03/03/16 Fiserv Inc ACI Worldwide Inc-Cmnty Finl Prepackaged Software 200.0
01/15/16 Investor Group Eastridge Mall,San Jose,CA Real Estate; Mortgage Bankers and Brokers 200.0
01/20/16 Brunswick Corp CYBEX International Inc Miscellaneous Manufacturing 195.0
01/04/16 Quality Systems Inc HealthFusion Holdings Inc Prepackaged Software 190.0
01/04/16 Audax Group LP Centric Health Corp-Operations Health Services 188.0
02/18/16 Chr Hansen Holding A/S Nutrition Physiology Corp Business Services 185.0
01/07/16 Limetree Bay Holdings LLC Hovensa LLC-St Croix Refinery Oil and Gas; Petroleum Refining 184.0
02/29/16 Investcorp Real Estate Group 733 10th Street,Washington,DC Real Estate; Mortgage Bankers and Brokers 180.0
01/31/16 Ligand Pharmaceuticals Inc Open Monoclonal Technology Inc Drugs 178.0
01/29/16 Global Jet Capital Inc Gen Elec Co-Corporate Credit Institutions 175.0
01/26/16 Tyco International PLC ShopperTrak Corp Business Services 175.0
01/04/16 Church & Dwight Co Inc Spencer Forrest Inc Soaps, Cosmetics, and Personal-Care Products 175.0
02/08/16 DRA Advisors LLC Triangle Town Ctr Real Estate; Mortgage Bankers and Brokers 174.0
01/19/16 Armada Hoffler Properties Inc Retail Center Portfolio(11) Retail Trade-General Merchandise and Apparel 170.5
02/05/16 AMETEK Inc Brookfield Engineering Labs Measuring, Medical, Photo Equipment; Clocks 167.0
02/01/16 Onexim Sports & Entertainment Barclays Center Amusement and Recreation Services 162.6
01/14/16 Liberty Intl Holdings Inc Cia de Seg Genes Penta Insurance 162.6
01/29/16 Guardian Life Ins Co Avesis Inc Insurance 162.3
01/04/16 AMN Healthcare Services Inc BE Smith Inc Business Services 160.0
02/29/16 Piper Jaffray Cos Simmons & Co International Investment & Commodity Firms,Dealers,Exchanges 160.0
01/14/16 Federal Realty Invstmnt Trust Real Estate Property Portfolio Real Estate; Mortgage Bankers and Brokers 154.0
01/14/16 Sabre Corp Trust Group of Companies Transportation and Shipping (except air) 154.0
03/31/16 Swiss Re Corporate Solutions IHC Risk Solutions LLC Insurance 152.5
02/02/16 The Michaels Companies Inc Lamrite West Inc Retail Trade-General Merchandise and Apparel 150.0
03/04/16 Investor Group Immobiliare Laurentiana Srl Real Estate; Mortgage Bankers and Brokers 142.4
02/05/16 Halma PLC CenTrak Inc Measuring, Medical, Photo Equipment; Clocks 140.0
03/01/16 The Dow Chemical Co Chemours Co-Aniline Facility Chemicals and Allied Products 140.0
03/15/16 BlueRoad Ventures Brauwin RE-Ret Asts(48) Real Estate; Mortgage Bankers and Brokers 139.0
01/08/16 Investor Group LaSalle Invest Mgmt- BEST Real Estate; Mortgage Bankers and Brokers 138.9
03/21/16 Heritage Insurance Hldg Inc Zephyr Insurance Co Inc Insurance 134.0
02/02/16 Hillenbrand Inc Red Valve Co Inc Metal and Metal Products 131.9
01/21/16 AMETEK Inc ESP/SurgeX Measuring, Medical, Photo Equipment; Clocks 130.0
01/20/16 CryoLife Inc On-X Life Technologies Inc Measuring, Medical, Photo Equipment; Clocks 130.0
02/01/16 AvalonBay Communities Inc DSF Grp-Halstead 800 Madison Real Estate; Mortgage Bankers and Brokers 129.7
03/17/16 CalAmp Corp LoJack Corp Communications Equipment 129.3
02/23/16 Haymaker Minerals & Royalties Chesapeake Energy-minerals Oil and Gas; Petroleum Refining 128.0
02/01/16 Westmoreland Coal Co BHP Billiton Ltd-San Juan Mine Mining 127.0
02/05/16 Pozen Inc Tribute Pharm Canada Inc Drugs 125.2
02/01/16 Onexim Sports & Entertainment Brooklyn Nets Basketball Team Amusement and Recreation Services 125.1
01/11/16 Juno Therapeutics Inc AbVitro Inc Drugs 124.9
03/01/16 Honeywell International Inc RSI Video Technologies Business Services 123.0
02/01/16 Pacific Premier Bancorp Inc Security California Bancorp Commercial Banks, Bank Holding Companies 118.9
01/12/16 PTC Inc Kepware Inc Prepackaged Software 118.0
03/04/16 DSW Inc eBuys Inc Business Services 117.5
02/01/16 Balchem Corp Albion Laboratories Inc Drugs 111.5
01/06/16 Preferred Apartment Communitie The Village,Orlando,Florida Real Estate; Mortgage Bankers and Brokers 110.7
02/15/16 Investor Group Lion Walk Shopping Centre Real Estate; Mortgage Bankers and Brokers 110.4
03/17/16 First Midwest Bancorp Inc NI Bancshares Corp,IL Savings and Loans, Mutual Savings Banks 105.5
01/20/16 WestRock Co Cenveo Inc-Packaging Business Paper and Allied Products 105.0
02/29/16 GoPro Inc Vemory Inc Prepackaged Software 105.0
02/16/16 PGT Inc WinDoor Inc Metal and Metal Products 105.0
03/29/16 Thai Hot Investment Co Ltd Alliance HealthCare Svcs Inc Health Services 102.5
02/01/16 Hooker Furniture Corp Home Meridian Intl Inc Wood Products, Furniture, and Fixtures 100.0
03/03/16 Zagg Inc Mophie Inc Rubber and Miscellaneous Plastic Products 100.0
03/17/16 Related Coml Portfolio Ltd Related Cos LP-60 Columbus Real Estate; Mortgage Bankers and Brokers 100.0
01/13/16 Advantech Co Ltd B+B SmartWorx Inc Electronic and Electrical Equipment 99.9
02/25/16 Scripps Networks Interactive The Travel Channel LLC Radio and Television Broadcasting Stations 99.0
03/21/16 Celladon Corp Eiger BioPharmaceuticals Inc Drugs 92.7
02/08/16 Gateway Realty Holdings Ltd Multi-family Properties,CT Real Estate; Mortgage Bankers and Brokers 92.5
01/25/16 Rambus Inc Smart Card Software Ltd Prepackaged Software 92.3
03/28/16 Finmarc Management Inc First Potomac Rlty Tr-Cert Real Estate; Mortgage Bankers and Brokers 90.5
01/07/16 Allergan PLC Anterios Inc Drugs 90.0
01/21/16 Westbrook Partners LLC Synergy Invests LLC & Green Real Estate; Mortgage Bankers and Brokers 90.0
02/29/16 Harmonic Inc Thomson Video Networks SASU Telecommunications 90.0
03/01/16 German American Bancorp,IN River Valley Bancorp Commercial Banks, Bank Holding Companies 87.2
01/08/16 Taylor Morrison Home Corp Acadia Homes & Neighborhoods Construction Firms 85.0
01/11/16 Sotheby's Art Agcy Partners Hldg LP Business Services 85.0
02/18/16 Aegion Corp Underground Solutions Inc Construction Firms 85.0
02/08/16 Heartland Financial USA Inc CIC Bancshares Inc Commercial Banks, Bank Holding Companies 83.5
02/19/16 RBB Bancorp TFC Holding Co Commercial Banks, Bank Holding Companies 83.3
01/28/16 Joes Jeans Inc Robert Graham Holdings LLC Retail Trade-General Merchandise and Apparel 82.5
01/06/16 The Wolff Co LLC One Observatory Park Real Estate; Mortgage Bankers and Brokers 82.5
02/01/16 A&B Properties Inc Manoa Marketplace Real Estate; Mortgage Bankers and Brokers 82.4
03/03/16 Ampco-Pittsburgh Corp Akers AB Metal and Metal Products 80.0
02/09/16 Almirall SA Thermigen LLC Measuring, Medical, Photo Equipment; Clocks 80.0
03/14/16 Seacoast Bkg Corp of Florida Floridian Financial Group Inc Commercial Banks, Bank Holding Companies 78.6
01/15/16 Liberty Bank,Middletown,CT Naugatuck Valley Finl Corp Savings and Loans, Mutual Savings Banks 77.8
01/04/16 Kennedy Wilson Inc Moraleja Green Commercial Ctr Real Estate; Mortgage Bankers and Brokers 77.2
03/01/16 Orora Ltd Integracolor LLC Printing, Publishing, and Allied Services 77.0
02/05/16 Investor Group Menin Dvlp Inc-Shoppes Real Estate; Mortgage Bankers and Brokers 77.0
01/04/16 Prosperity Bancshares Inc Tradition Bancshares Inc Commercial Banks, Bank Holding Companies 76.9
03/04/16 Vestar Development Co Bowles Crossing,,Littleton Real Estate; Mortgage Bankers and Brokers 76.0
02/07/16 Woodford Creek Farms LLP Christensen-Hog Farm Agriculture, Forestry, and Fishing 75.8
03/14/16 Shareholders QIG Group LLC Business Services 75.7
03/15/16 II-VI Inc ANADIGICS Inc Electronic and Electrical Equipment 75.5
03/14/16 CTS Corp CTG Advanced Materials LLC Miscellaneous Retail Trade 73.0
02/03/16 PolyOne Corp Kraton Performance-Business Rubber and Miscellaneous Plastic Products 72.0
02/07/16 Seaboard Foods LLC Christensen & Feedlots-Cert A Agriculture, Forestry, and Fishing 71.9
01/01/16 Park Sterling Corp First Capital Bancorp Commercial Banks, Bank Holding Companies 71.8
01/04/16 First Merchants Corp Ameriana Bancorp Commercial Banks, Bank Holding Companies 69.6
02/04/16 Xylem Inc Tideland Signal Corp Measuring, Medical, Photo Equipment; Clocks 69.0
03/07/16 RealPage Inc NWP Svcs Corp Business Services 68.0
03/02/16 CenterState Banks,Davenport,FL Cmnty Bk of S Florida Inc Commercial Banks, Bank Holding Companies 66.9
03/24/16 Meridian Bioscience Inc Magellan Biosciences Inc Measuring, Medical, Photo Equipment; Clocks 66.0
01/05/16 CoreLogic Inc RELS LLC Business Services 65.0
01/29/16 Diamond Resorts International Intrawest Resort Club Group Co Hotels and Casinos 63.9
01/04/16 Amedisys Inc Infinity HomeCare LLC Health Services 63.0
02/01/16 Homestreet Inc Orange County Business Bank Commercial Banks, Bank Holding Companies 62.7
02/08/16 Classic Hotels & Resorts FireSky Resort & Spa Hotels and Casinos 62.5
01/11/16 ExamWorks Group Inc ABI Document Support Svcs Inc Business Services 62.0
01/04/16 Navigant Consulting Inc McKinnis Consulting Services Investment & Commodity Firms,Dealers,Exchanges 62.0
01/07/16 Eagle Creek Renewable Energy Verso Androscoggin Power LLC Electric, Gas, and Water Distribution 62.0
03/30/16 Actuant Corp FourQuest MENAC Oil and Gas; Petroleum Refining 60.0
02/29/16 Fortuna Realty Group LLC Wyndham Garden Manhattan Hotels and Casinos 60.0
02/04/16 Boardwalk Properties FL Bar Invest Grp-multifamily Real Estate; Mortgage Bankers and Brokers 59.0
03/11/16 Ameris Bancorp Jacksonville Bancorp Inc Commercial Banks, Bank Holding Companies 58.9
03/15/16 Prophet Equity LLC Total Plastics(AM Castle & Co) Wholesale Trade-Nondurable Goods 55.0
01/08/16 Northfield Bancorp Inc Hopewell Valley Community Bank Commercial Banks, Bank Holding Companies 52.8
01/06/16 First Cash Finl Services Inc Maxi Prenda SA de CV-Pawn(166) Miscellaneous Retail Trade 52.0
02/18/16 Cipla (EU) Ltd Exelan Pharmaceuticals Inc Wholesale Trade-Nondurable Goods 50.0
02/25/16 MindTree Ltd Magnet 360 LLC Business Services 50.0
01/29/16 Southern BancShares(NC)Inc Heritage Bankshares Inc,VA Commercial Banks, Bank Holding Companies 48.3
02/16/16 Sooner Pipe LLC MRC Global Inc-US OCTG Bus Wholesale Trade-Durable Goods 48.0
01/25/16 Retail Ppty of Americas Inc Merrifield Town Center II Real Estate; Mortgage Bankers and Brokers 45.7
03/02/16 Digital Barriers PLC Brimtek Inc Electronic and Electrical Equipment 45.0
01/04/16 Amcor Ltd Deluxe Packages Paper and Allied Products 45.0
01/08/16 RNTS Media NV Heyzap Inc Prepackaged Software 45.0
02/08/16 Infoblox Inc IID Business Services 45.0
03/31/16 Ascent Aerospace LLC Gemcor II LLC Metal and Metal Products 44.0
02/01/16 II-VI Inc EpiWorks Inc Electronic and Electrical Equipment 43.0
03/17/16 magicJack VocalTec Ltd North American Telecommunicati Prepackaged Software 42.0
02/29/16 Citizens Bus Bnk,Ontario,CA County Commerce Bank,Ventura Commercial Banks, Bank Holding Companies 41.3
01/07/16 Lakeland Bancorp Inc Pascack Bancorp Inc Commercial Banks, Bank Holding Companies 40.8
02/24/16 Blommer Chocolate Co Chocolate Manufacturing Plant Food and Kindred Products 40.0
02/02/16 Tower Semiconductor Ltd Maxim Integrated Prod-fabricat Electronic and Electrical Equipment 40.0
01/13/16 ADVA Optical Networking SE Overture Networks Inc Prepackaged Software 40.0
02/01/16 Larkin Community Hospital Palm Springs General Hospital Health Services 40.0
02/12/16 Huvepharma Inc Zoetis Inc-certain assets Drugs 40.0
01/04/16 Cedar Realty Trust Inc E River Pk Shopping Real Estate; Mortgage Bankers and Brokers 39.0
01/15/16 Ainsworth Game Technology Ltd Nova Technologies LLC Miscellaneous Manufacturing 38.0
01/05/16 Almost Family Inc Long Term Solutions Inc Health Services 37.0
01/29/16 Learning Technologies Group Rustici Software LLC Prepackaged Software 37.0
01/07/16 Peak Resorts Inc Hunter Mountain Ski Bowl Inc Hotels and Casinos 36.8
01/01/16 Digirad Corp Project Rendezvous Hldg Corp Health Services 36.0
01/25/16 Sterno Products LLC Northern International Inc Electronic and Electrical Equipment 35.4
01/08/16 NexTier Inc Eureka Financial Corp Savings and Loans, Mutual Savings Banks 35.3
02/03/16 Clean Harbors Inc Vertex Energy Inc-Re-Refinery Sanitary Services 35.0
01/29/16 Control4 Corp Pakedge Device & Software Inc Communications Equipment 32.7
01/19/16 CIENA Corp TeraXion Inc-High Speed Metal and Metal Products 31.9
01/19/16 ExamWorks Group Inc Advanced Medical Reviews Inc Health Services 30.0
03/31/16 Wintrust Financial Corp Generations Bancorp Inc Commercial Banks, Bank Holding Companies 30.0
01/08/16 Investor Group Interocean Transportation Inc Transportation and Shipping (except air) 30.0
02/10/16 Constellation Healthcare Tech MDRx Enterprises Inc Health Services 30.0
02/12/16 Driftwood Hospitality Mgmt LLC Saratoga Hilton,New York Hotels and Casinos 30.0
03/03/16 GBC Oil Co Ltd Stream Oil & Gas Ltd Oil and Gas; Petroleum Refining 29.3
02/02/16 Synoptek Inc EarthLink-IT Services Business Business Services 29.0
03/02/16 Natl Storage Affiliates Trust NAI Norwood Grp Inc-Granite Transportation and Shipping (except air) 28.8
03/01/16 Amedisys Inc Associated Home Care Health Services 28.0
03/01/16 Fidelity Southern Corp Amer Enterprise Bankshares Inc Commercial Banks, Bank Holding Companies 27.0
01/04/16 Urban Edge Properties Pan Bay Ctr,Rego Pk,New York Real Estate; Mortgage Bankers and Brokers 27.0
01/25/16 Retail Ppty of Americas Inc Shoppes at Hagerstown Real Estate; Mortgage Bankers and Brokers 27.0
03/01/16 Superior Uniform Group Inc Bamko Inc Business Services 26.8
01/15/16 Premier Finl Bancorp,WV First National Bankshares Corp Commercial Banks, Bank Holding Companies 26.5
03/30/16 Kohan Retail Investment Group Pennsylvania REIT-Lycoming Real Estate; Mortgage Bankers and Brokers 26.4
02/09/16 CieNA Healthcare Mgmt Inc Laurel Health Care Co Health Services 25.8
01/11/16 IFC City Mart Holdings Co Ltd Real Estate; Mortgage Bankers and Brokers 25.0
02/15/16 Genesis Energy LP Deepwater Gateway LLC Oil and Gas; Petroleum Refining 25.0
02/29/16 Lippert Components Inc Flair Interiors Inc - Cert Wood Products, Furniture, and Fixtures 25.0
02/29/16 Patrick Industries Inc Parkland Plastics Inc Rubber and Miscellaneous Plastic Products 25.0
01/12/16 KBR Inc Weatherly Inc Construction Firms 24.5
02/18/16 KeepItSafe Inc InterCloud Sys Inc-Online Business Services 24.0
03/24/16 Entertainment One Ltd Renegade 83 Inc Radio and Television Broadcasting Stations 23.0
02/12/16 Argosy Private Equity Nationwide Industries Inc Metal and Metal Products 22.5
01/12/16 Allied Motion Technologies Inc Heidrive GmbH Transportation Equipment 21.9
01/14/16 InvenTrust Properties Corp Sonterra Village Shopping Real Estate; Mortgage Bankers and Brokers 21.5
02/25/16 Investor Group APR Energy PLC Electric, Gas, and Water Distribution 20.5
01/07/16 Militello Capital Viera at Whitemarsh Apartments Real Estate; Mortgage Bankers and Brokers 20.4
02/08/16 Flamel Technologies SA FSC Holdings LLC Investment & Commodity Firms,Dealers,Exchanges 20.3
01/26/16 Marathon Asset Management LP Parque Comercial Bahia Azul Real Estate; Mortgage Bankers and Brokers 20.1
03/24/16 Revere Bank,Laurel,Maryland Blueridge Bank,Frederick,MD Commercial Banks, Bank Holding Companies 20.0
01/04/16 Gulf Island Shipyards LLC LEEVAC Shipyards LLC Transportation Equipment 20.0
02/10/16 AiNet One Market Center,Baltimore,MD Business Services 20.0
03/10/16 Revizer Technologies Ltd sterkly LLC Prepackaged Software 20.0
01/04/16 Vishay Precision Group Inc Stress-Tek Inc Measuring, Medical, Photo Equipment; Clocks 20.0
02/08/16 Perk.com Inc Viggle Inc-Viggle Business Prepackaged Software 19.7
03/16/16 Renewable Energy Group Inc Sanimax Energy LLC-Biodiesel Electric, Gas, and Water Distribution 19.5
03/16/16 Bain Capital LLC Asia Pacific Medical Group Health Services 19.3
01/06/16 Hempel Cos Ryan Cos US Inc-Ret Portfolio Real Estate; Mortgage Bankers and Brokers 19.2
01/31/16 Analogic Corp Oncura Partners Diagnostics Health Services 19.0
02/01/16 Sevcon Inc BASSI Srl Electronic and Electrical Equipment 19.0
02/04/16 Merit Medical Systems Inc CryoLife Inc-HeRO Graft Measuring, Medical, Photo Equipment; Clocks 18.5
01/31/16 TSC Auto ID Technology Co Ltd Printronix Inc Computer and Office Equipment 18.0
02/08/16 Addus HealthCare Inc S Shore Home Health Svcs Inc Health Services 18.0
02/08/16 GTT Communications Inc Telnes Broadband Business Services 18.0
03/09/16 Barnes & Noble Education Inc LoudCloud Systems Inc Business Services 17.9
01/22/16 StatPro Group PLC Investor Analytics LLC Investment & Commodity Firms,Dealers,Exchanges 16.0
03/08/16 Park Lawn Corp Midwest Memorial Group LLC Real Estate; Mortgage Bankers and Brokers 16.0
02/02/16 Carter Validus Mission Alpharetta Data Ctr III Ppty Real Estate; Mortgage Bankers and Brokers 15.8
01/01/16 Amer Riviera Bk,Santa Barbara Bank of Santa Barbara,CA Commercial Banks, Bank Holding Companies 15.4
03/07/16 Spark Therapeutics Inc Genable Technologies Ltd Drugs 15.2
01/05/16 Liquor Stores NA Ltd Birchfield Ventures LLC Miscellaneous Retail Trade 15.0
03/28/16 General Atomics International Miltec Corp Aerospace and Aircraft 14.6
01/06/16 Financial Institutions Inc Courier Capital Corp Investment & Commodity Firms,Dealers,Exchanges 14.0
01/13/16 Carbonite Inc EVault Inc Business Services 14.0
01/11/16 SurModics Inc NorMedix Inc Health Services 14.0
03/02/16 Boditech Med Inc Immunostics Inc Drugs 13.6
03/02/16 Cantel Medical Corp N Amer Science Assoc-Division Measuring, Medical, Photo Equipment; Clocks 13.5
01/29/16 PBB Bancorp First Mountain Bank,CA Commercial Banks, Bank Holding Companies 13.4
01/21/16 Gramercy Property Trust Inc Parthenon Metal-Warehouse Metal and Metal Products 12.0
03/22/16 Propel Business Solutions Inc Conversion Innovations Inc Prepackaged Software 11.8
01/04/16 WisdomTree Investments Inc GreenHaven Commodity Services Investment & Commodity Firms,Dealers,Exchanges 11.8
03/04/16 SP Jagged Peak LLC Jagged Peak Inc Prepackaged Software 11.5
01/11/16 Kimco Realty Corp Owings Mills Mall Real Estate; Mortgage Bankers and Brokers 11.5
01/13/16 New Media Investment Group Inc Times Publishing Co-Erie Printing, Publishing, and Allied Services 11.5
02/01/16 CLARCOR Inc TDC Filter Mnfg Inc-Asts Machinery 11.0
03/03/16 Patrick Industries Inc The Progressive Group Inc Wholesale Trade-Durable Goods 11.0
01/13/16 Ultralife Corp Accutronics Ltd Electronic and Electrical Equipment 10.9
02/02/16 Carter Validus Mission Waco Data Center Business Services 10.7
01/27/16 Lippert Components Inc Highwater Marine-Furniture Transportation Equipment 10.0
01/13/16 MiMedX Group Inc Stability Inc Measuring, Medical, Photo Equipment; Clocks 10.0
Source: Thomson Reuters        

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