July 2020 Midwest M&A Highlights

​M&A activity continued to pick up in July, according to preliminary data from Pitchbook. In the US, there was more than $50 billion in M&A spending, the second month of increases from May’s low. While deal counts are currently showing a sequential decline from June, we suspect there will be an increase as deals are reported (there tends to be a lag in deal reporting). We continue to monitor M&A volume, which is supported by the reopening of economies across the nation but is under pressure from rising COVID-19 cases.

​In the Midwest, 18 deals were reported completed for July so far. The largest reported deal was Bluecora’s (NASDAQ: BCOR) $100-million acquisition of Bismarck, North Dakota-based HK Financial Services. More notably, there were a handful of sizeable announced deals at the end of the month, including: Strata Decision Technology’s pending $365-million purchase of Chesterfield, Missouri-based EPSi; Corsair Capital’s pending $350-million buyout of Overland Park-based Multi Service Technology Solutions; and Watco Companies’ anticipated $310-million acquisition of Pittsburgh, Kansas, rail assets from Dow Chemical. The table below highlights some of the other notable M&A transactions within the six-state Midwest region during July.

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