Maine M&A Trends 2024: Analysis across Manufacturing and Financial Services

Maine was abuzz with mergers and acquisitions in 2024, spanning a wide range of industries from banking to biotechnology. From Lewiston to Biddeford, companies were making moves that signaled growth and expansion.

For instance, Geiger, a promotional products distributor based in Lewiston, made a strategic acquisition in Germany, expanding its global reach. Meanwhile, Fiber Materials Inc. in Biddeford was acquired by an NC defense contractor for a substantial $165 million.

In the financial sector, Portland-based HM Payson is set to be acquired by a Florida firm, and Camden National is strengthening its presence in New Hampshire with an $86.6 million deal for a North Conway-based bank. The momentum in bank mergers is picking up, with more deals in the pipeline.

On the biotech front, a Brunswick pet-health startup is on the verge of being acquired by a San Diego company, while a precision-parts manufacturer in Maine is set to be acquired by an NYC investment firm.

Craft brewer Oxbow is expanding its portfolio by acquiring Portland-based Rising Tide Brewing, and even local government entities are getting in on the action with Portland councillors approving the merger of Fish Exchange and Fish Pier Authority.

With companies in various sectors joining forces and expanding their reach, Maine’s M&A landscape in 2024 is definitely worth keeping an eye on. The state’s economy is thriving, and these developments are a testament to the dynamism and growth potential of Maine’s business community.