As we reported in the first quarter, Dykema had several deals carryover from 2021 for which "urgency to close" seemed to lapse after it became conventional wisdom in the deal community that tax laws were unlikely to change anytime soon (this remains to be seen). It was therefore not surprising that our second quarter deal volume slowed from the torrid pace of the first quarter. That said, our second quarter M&A volume remained quite strong by historical standards, with 17 transactions closing, bringing our year-to-date total to 41. Deals this quarter included targets in construction, aerospace and defense, dental service organizations, healthcare, industrial equipment, non-profit management, employment services, children's education, and technology. Deal size during the second quarter averaged nearly $32,000,000.

During the coming weeks, you should be receiving our 18th Annual M&A Outlook Survey, in which we collect data from you regarding your assessment of the current deal market and your expectations for next year. We look forward to hearing from you and learning of your observations and expectations for the future. A link to last year's survey results can be found here.

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