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The Vince Report Middle Market Technology Manufacturing Q4 2023 - Q1 2024 Update

Published on June 4th, 2024

I. Q4 2023 / Q1 2024 Summary

  • Uncertainty regarding this market’s applicability to advanced technologies has provoked volatility in transactions.

  • The U.S. and China trade war hinders M&A activity due to the proposed risk of supply chain liabilities.

  • Declined trends of activity and value in Q1 isn’t indictive of a broader slowdown of M&A throughout 2024.

II. U.S. Middle Market Software M&A Activity - Semiconductors and Electronics A. Trends:

  • Number of transactions and total transaction value decline in Q4 2023 and Q1 2024 YoY.

  • Minimal increase in average transaction value for Q4 YoY and significant decrease in Q1 YoY.

  • Significant decrease in number of transactions and average transaction value between Q1 and Q4.

B.   Reading Between the Lines:

  • Valuation expectations have spiked resulting in an increased valuation gap between buyers and sellers.

  • Increased M&A proclivity is still plausible in 2024 due to the critical role semiconductors and electronics have in advanced technologies like AI, machine learning technologies, and IoT.

C.   Top Five Transactions - Q4 2023 / Q1 2024:

Sources: Capital IQ and Pitchbook.

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The Vince Report - Middle Market Tech Manufacturing - Q1 2024 M&A Update
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*** The content is not intended to provide legal, financial or M&A advice. It is for information purposes only, and any links provided are for your convenience. Please seek the services of an M&A professional(s) before entering into any M&A transaction. ***

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As a visionary, influential, and trusted leader, Vince Monteparte has more than 25 years of experience managing strategic and transformative enterprise initiatives, across Aerospace, Transportation, Logistics, and Enterprise / SaaS Software. Advising C-suite executives and Boards of Directors, and helping companies grow from start-up to exit.

Vincent Monteparte, Principal

Tel (619) 379-1785

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