If first quarter M&A activity in Massachusetts is any indication, the market is not slowing down. There were 82 successful transactions in the first quarter of 2019, showing that Massachusetts M&A activity is keeping pace with last year’s average of 82 deals per quarter. On a per capita basis, Massachusetts kept pace with many M&A power centers:
The Hub is on fire
The Hub is the transaction center for the state. Boston and its surrounding suburbs reported the most deal activity in Q1, with 32 deals in Middlesex County (which includes the Route 128 Technology Belt). 11 deals closed in Suffolk County. South (Norfolk County) and North (Essex County) of the city each closed 9 transactions.
Industrial market fuels the activity
The Industrial market fueled the activity with 24 deals closing in Q1, a 30% increase over last year. The volume of Healthcare and Technology followed closely behind with 18 and 14 deals respectively.
Endeavor Robotics of Chelmsford, MA was acquired by FLIR Systems on March 4, 2019 for $382 million. Endeavor Robotics is a leading developer of battle-tested, tactical unmanned ground vehicles (UGVs) for the global military, public safety, and critical infrastructure markets. “Joining forces with FLIR Systems will allow Endeavor to take its life-saving technology to the next level, so we can better serve the warfighter, the police officer, and the first responder who use our robots on the frontlines every day,” said Sean Bielat, CEO of Endeavor. “We’re excited to be part of a company that sees its strategic growth in unmanned systems and will invest in our products, platforms and people. It is a tremendous fit and we look forward to the mission ahead.”
New England Resins and Pigments Corporation of Woburn, MA was acquired by Brenntag on March 4, 2019. New England Resins and Pigments Corporation is a regional distributor of specialty chemicals and packaging solutions with commercial operations predominantly in the New England states. Markus Klaehn, Member of the Management Board of Brenntag Group and CEO Brenntag North America: “The acquisition supports our ongoing growth in Specialties and complements our presence in New England as a strong and reliable distribution partner of the industry.”
Helio Vision of Waltham, MA was acquired by Aldeyra Therapeutics, Inc. on January 28, 2019 for $24.6 million. Helio Vision is a biotechnology company devoted to developing and commercializing next-generation medicines to improve the lives of patients with immune-mediated disease. “The acquisition of Helio Vision is highly complementary to Aldeyra’s focus on novel therapeutic approaches for immune-mediated diseases and broadens our late-stage pipeline,” stated Todd C. Brady, M.D., Ph.D., President and CEO of Aldeyra. “Helio Vision’s unique approach is at the cross-hairs of our areas of expertise, leveraging an immunological mechanism that diminishes inflammation and cell proliferation, an orphan indication addressing a significant unmet medical need, the potential applicability to a variety of other diseases, and a Phase 3-ready retinal program that represents another important catalyst in our development pipeline.”