Since last month, Mike Vinje, co-founder of management consultant Trissential, has had time for some outdoor work.
"A few friends and neighbors and I went through four chain saws," he reported from his summer home in Crow Wing County. "The big storm was July 12. Had about 100 downed trees, including at my place."
Vinje and Trissential co-founder Keith Korsi sold the Wayzata firm for $30.7 million to Germany's SQS Software Quality Systems AG, which was in the hunt for a U.S. beachhead.
They made the deal in the strongest transactions market in Minnesota and the nation since before the global downturn in 2008.
There were 213 deals in the first half of the year involving a Minnesota buyer or seller. The deals amounted to $43.5 billion in value, according to Dealogic. That's less than the $62.5 billion in value that changed hands in the first half of 2014, when one deal alone, Medtronic's acquisition of Irish surgical-supplier Covidien, totaled nearly $50 billion.
Minnesota's two most valuable companies, UnitedHealth Group and 3M, have been made big deals this year. UnitedHealth just last week closed on its $12.8 billion purchase of Catamaran Corp., a manager of pharmacy benefits. And 3M is moving forward with its biggest deal ever, the $2.5 purchase of Bloomington-based Capital Safety, a maker of safety equipment for the construction, drilling and mining industries.
Meanwhile, Austin-based Hormel Foods announced in the second quarter that it's buying Applegate Farms, a leading organic and natural meat maker, for about $775 million.
"Valuations are high, and the market is very favorable for sellers," said Bruce Engler, a veteran deal lawyer and head of the M&A practice at Faegre Baker Daniels. "Corporate buyers have lots of cash, ready access to cheap debt, increasing confidence in the economy, and a concern that they need to supplement organic growth or risk falling behind their competition."