M&A activity in the Industrials sector for Q3 2013 was active with 499 deals under $1 billion announced or closed. This sector includes manufacturers, refiners and energy producers. Overall financial stability across all industries coupled with increasing access to capital for middle market industrials companies has spurned significant growth in the sector, which has led to the uptick in M&A activity. Without a significant change in the fundamentals of the economy there is no reason for this trend not to continue.