M&A market summary US food beverage and agribusiness M&A volume held relatively strong in 2022 with a total of 403 announced control transactions Although volume was down 21% (in terms of number of deals from a record-breaking 2021 it was in line with the average number of deals announced in preceding years $1+ billion mega deals increased for the fourth consecutive year with YoY volume…

2022 Year-end update The number of healthcare services M&A transactions declined by 24% in 2022 when compared to 2021’s record year as investors continued evaluating COVID and its effect on the marketplace and concerns grew about higher interest rates rising inflation and slowing economic growth Despite this decline the number of transactions was far from weak when compared with the average…

2022 Year-end update The tm&ia sector continued to outperform the broader market The uncertain macroeconomic backdrop continues to weigh on equity performance as investors evaluate the depth and duration of a recession Valuations for the Test & Measurement and Industrial Automation (TM&IA sector continued to outperform the broader market However current valuations remaining below the…

2022 Year-end update After a very strong 2021 last year was characterized by uncertainty and volatility The packaging sector experienced moderate transaction volumes with Mesirow completing six total transactions following 18 in 2021 The key issues affecting the sector were the war in Ukraine continued supply chain issues and labor availability high inflation across the board increasing interest…

Inflation dominated the FX markets in 2022 as any stabilization of supply chain disruptions from COVID was swiftly overwhelmed by the Russia-Ukraine crisis causing energy resource bottlenecks across the world Building upon its strong legs from 2021 US dollar outperformed all of its G10 counterparts as the hawkish Fed led central bank policy globally With policy divergence amid rising interest…, Inflation contagion, The inflation debate structural vs transitory was emphatically answered as persistently high CPI numbers spread globally The lingering effects of the pandemic – disrupted supply chains around the world leading to shortages backlogs and delays – ushered in 2022 as the world grappled with the Omicron variant Any possible lull in rising inflation was unceremoniously dashed when Russia invaded…

2023 Recap and what’s ahead for 2024 , 2023 certainly didn’t get off to the strongest start but a Q4 surge left market participants salvaging what otherwise could’ve been a painful year Despite continued uncertainty around inflation and what action the Federal Reserve will take a lack of M&A / LBO volume has lenders getting very competitive over the few deals in market (especially the better credit quality ones Lenders almost…

2023 Mid-year update, Similar to our report at the end of 2022 the A&D M&A market continues to face both macroeconomic uncertainty and tight capital markets While Mesirow anticipates these broad challenging conditions to persist through 2023 there remains potent interest in diversified well-performing businesses particularly for those that are servicing established commercial airframe platforms or government…

2023 Mid-Year Review In the first half of 2023 we have seen middle-market packaging M&A remain at respectable levels Despite broader macro-economic conditions and the current interest rate environment the packaging market has proven remarkably resilient The preponderance of packaging used in non-discretionary items such as food consumables and pharmaceuticals has resulted in market resilience…, Industry destocking, | Industry wide packaging companies faced volume softness in the first half of the year as customers worked down excess inventories built up to account for supply chain lead times Inventory destocking is abating with order volumes returning to normalized levels heading into the second half of the year, Supply chain and pricing is normalizing, | The supply chain has normalized for raw materials as well allowing manufacturers to bring down their own inventory levels reduce investment in networking capital and improve turnaround times to customers After a year and a half of continuous raw material price increases raw material pricing is stabilizing Customers that readily accepted price increases during this period are now beginning to…

General M&A market observations, In comparison to the strong level of activity of recent years YTD June 2023 M&A activity and completed deal volume has slowed considerably The decline in activity and volume can largely be attributed to the limited availability of debt capital sharp increases in financing costs and a generally cloudy near-term economic outlook These market conditions have had a profound impact on the number…

The Internal Revenue Service has announced the following inflation-adjusted retirement plan limits for 2023 Many of these limits rose triggered by an increase in the cost-of-living index However the index increase did not trigger all limits to rise as some have higher statutory thresholds  , 2023 Limit, 2022 Limit, 2021 Limit, 2020 Limit, Annual Elective Deferrals,    401(k plans 402(g(1 $22500 $20500 $19500 $19500, Annual Age 50 Catch-Up Contributions,    401(k plans §414(v(2(B(i $7500 $6500 $6500 $6500, Qualified Retirement Plans,    Annual compensation limit §401(a(17/404(l $330000 $305000 $290000 $285000, Defined Benefit Plans,    Annual benefit limit §415(b(1(A $265000 $245000 $230000 $230000, Defined Contribution Plans,    Annual contribution limit §415(c(1(A $66000 $61000 $58000 $57000, HCE Definition,    Compensation threshold §414(q(1(B $150000 $135000 $130000 $130000, Top Heavy Plan – Key Employees,    Officer compensation threshold §416(i(1(A(i $215000 $200000 $185000 $185000, Social Security,    Taxable wage base (OASDI only $160200 $14000 $142800 $137700, HSA Contribution,    Health Savings Account $3850 (single   $7750 (family $3600 (single   $7300 (family $3600 (single   $7300 (family $3500 (single   $7000 (family, HSA Catch-up Contributions ,    (age 55 or older $1000 $1000 $1000 $1000 Source Internal Revenue Service Some information contained herein has been obtained from sources believed to be reliable but is not necessarily complete and its accuracy cannot be guaranteed It is not a solicitation or an offer to buy or sell any security or instrument or to participate in any trading strategy Any opinions expressed are subject to…