If you thought trying to finish your Christmas shopping was stressful, just imagine the pressure of trying to wrangle the final details of a $3 billion acquisition.
At the end of each year we see an increase in the number of M&A deals companies roll out before closing their fiscal calendar. And while 2023 may have had fewer deals than the past few years (M&A activity was down 17 percent for the first half of 2023, according to P&M Corporate Finance, as PN's Frank Esposito noted in July), there is still plenty of action.
In fact, PMCF noted Dec. 1, there were 39 deals in October in global plastics M&A, the highest monthly number in 2023.
What's driving those sales? Strategic buyers recorded more than 25 transactions for the month, PMCF said. That could include deals such as one by La Sueur Inc., an injection molder and metal castings business in La Sueur, Minn., which added on prototyping and tooling specialist Craft Pattern & Mold, another Minnesota company.
Other trends? Interest by private equity firms and an "uptick in transition activity" in the medical end markets. Just see the acquisition announced Dec. 18 by Swedish equity fund EQT AB for Zeus Co. Inc., a South Carolina medical tubing specialist as an example. Neither EQT nor Zeus, a family-owned business that opened in 1966, announced an acquisition price, but Bloomberg estimated the deal's value at $3.4 billion.