Tag

middle market M&A

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Shaded grid comparing year-over-year growth in the second quarter of 2026 for two deal size bands: transactions of $100 million or more grew 88 percent in value and 29 percent in volume, while megadeals of $5 billion or more grew 148 percent in value and 44 percent in volume, with the 148 percent figure shown in the darkest navy.

The Rebound Is Real. It Starts at $100 Million.

Second-quarter deals of $100 million or more rose 88 percent in value and 29 percent in volume, and the data that reports it does not count anything smaller. What that means for a buyer working a $5 to $50 million acquisition.
Business Case & ROIBorrower Advisory
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Cover showing Q2 2026 middle-market direct-lending volume of $33.6 billion, the lowest since Q2 2023, beside a stacked bar of a bank facility's $1.6 billion committed capacity plus a $1.0 billion accordion to $2.6 billion.

The Direct-Lending Slowdown Is a Buyer's Financing Window

Middle-market direct lending hit its lowest quarter since 2023 while bank and asset-based capacity expanded. Why the buyers who run a multi-source process capture the leverage.
Capital Markets & TrendsBorrower Advisory
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Horizontal stacked bar showing about $1.4T of idle U.S. acquisition capital, split into $1.13T PE dry powder and $264B private-credit dry powder, against a −52% drop in June 2026 deal deployment versus January.

Capital Is Not Scarce. It Is Just Not Moving.

U.S. acquisition capital sits near record levels while deal volume has fallen by half. The binding constraint for buyers now is structure and matching, not availability.
Capital Markets & TrendsBorrower Advisory
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Grid of 20 squares with 17 filled in Thalos navy, illustrating that direct lenders financed about 85% of US leveraged buyouts in 2024.

The Single-Lender Acquisition Is Narrowing Just as Deal Flow Returns

Private credit redemptions jumped 217% in a quarter. For acquirers leaning on one lender, the risk is no longer deal supply, it is certainty of close. Here is the defense.
Borrower AdvisoryFinancing Strategy
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