The first three quarters of the year produced the highest middle-market deal value for the period in five years. According to TheMiddleMarket.com, there were more than 1,700 completed deals, totaling more than $230 billion. One of the more notable transactions in the third-quarter was Hormel Foods' (NYSE:HRL) purchase of CytoSport, the maker of Muscle Milk, for $450 million.
Impax Laboratories (NASDAQ:IPXL) has gained access to epinephrine, an emergency anti-allergen injection. The specialty pharmaceutical company has acquired two privately-held drugmakers: Lineage Therapeutics and Tower Holdings for $700 million. Epinephrine is used to fight sudden allergic reactions such as severe rashes and swelling of the windpipe. SolarCity (NASDAQ:SCTY ) is offering homeowners in eight states loans to buy their solar panels. The move will allow customers to claim a lucrative federal tax credit for solar power for the first time. The company reportedly says the new option could account for half of its residential business by the end of next year.
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