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CHICAGO -- M&A activity in the electronics manufacturing services sector slipped slightly in 2019, falling two to a total of 29.

The market for such deals remained strong through the year, said Lincoln International, an investment bank advisory group that tracks the market.

There were 14 consolidations, four vertical/horizontal convergences, 10 private equity investments, and one "diversification" into EMS, Lincoln said. No OEM divestitures took place last year.

Two-thirds (19) of the transactions took place in North America, 11 in Europe, and two in Asia. Small-tier deals accounted for the vast majority of activity, Lincoln said.

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