Total disclosed deal value reached $3.8B in the first half of 2024, aided by a megadeal, significantly above levels seen in all of 2023. Buyers preferred to keep their M&A strategies private as only 11% of deals announced their transaction values.

During the first half of 2024 there were 92 deals in the Blue Collar Tech M&A sector at a pace that’s on par to meet or exceed the 10-year high set in 2023. Both financial and strategic buyers were eager to pursue acquisitions in this space as PE firms were the buyers in 21% of these deals.

In the first half of 2024, the strategic buyer Ever.Ag acquired four Blue Collar Tech enterprises, making it the most active acquirer in this space. Additionally, the strategic acquirers JDM Technology Group and Mews Systems both scooped up two Blue Collar Tech firms.

After peaking in 2021, VC funding for Blue Collar Tech firms continued to dry up through the first half of 2024. The median VC investment was $3.6M, well below the median disclosed M&A transaction value. Companies have instead been encouraged to pursue M&A strategies for growth and liquidity.