Mergers and Acquisitions Activity Increases in South Florida

In another sign that economic activity is picking up in South Florida, the Mergers and Acquisitions index has been revving up its engine. The South Florida Business Journal reports that:

Merger and acquisition deals have doubled in Florida in the first nine months of 2013, according to a report from Mergermarket Group.

There was $29.4 billion in M&A announced in the last nine months, up from $13.9 billion in a same period a year ago. The largest category this year is pharmaceutical/medical/biotech at 30 percent. Mergers for financial services, industrial/chemicals, consumer products, telecom, business services and real estate companies also increased.

However, merger activity declined for technology and leisure companies.

The biggest deal involving a South Florida company in the third quarter was Davie-based Mako Surgical Corp. (NASDAQ: MAKO) selling to Stryker Corp. (NYSE: SYK) for $1.65 billion.

This is the most merger activity in Florida since 2007, according to Mergermarket.

Increased M&A activity is a welcomed sign in South Florida. The economy is starting to go through that “inflection point” where it will change from a slow tepid flow, to a high-sloping line with significant benefits to the overall population.