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Looking To Buy? Cross-Border M&A Trends For Manufacturers
Robinson+Cole – There are a lot of manufacturers out in the market looking to buy. Many “strategic” buyers are taking advantage of healthy balance sheets that are bolstered by a lot of cash. A few weeks ago, I attended a presentation by an investment banker that cited publicly-available estimates of nearly $3.5 trillion in cash reserves among middle market companies. “Multiples” remain high in certain sectors, including aerospace and defense, food and beverage, and other advanced manufacturing. As a result, buyers of all types are looking for transactions that are not the subject of an auction, but rather can be achieved in a private way.