Has Mid-Market M&A Come to a Dead Stop, or is This a Momentary Pause?
Dealmaking in Q4 2015 dropped 26 percent from Q4 2014, and January 2016 was downright sluggish. How long will the lull last?

Turnaround Talk

Men's Wearhouse Devises Tailored Brands Holding Company to Protect Assets in Potential Bankruptcy
The retailer has suffered financially since its 2014 acquisition of Jos. A. Bank


Valuations Soared in 2015, Making it Tough for PE Firms to Compete with Strategic Buyers
Prices paid for lower middle-market targets averaged 9.1 times Ebitda, up from 7.8 in 2014, says GF Data’s Graeme Frazier

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Fund of Funds, Lender

ESOP, Recapitalization

Agriculture, Natural Resources

New York, Hong Kong

Northeast US, Asia/Pacific

United States, Canada


Influential Women

Mergers & Acquisitions’ special report celebrates 25 leading female transaction professionals, including Jeri Harman, founder of Avante Mezzanine Partners

Mid-Market Awards

Mergers & Acquisitions will announce the winners of the 2015 M&A Mid-Market Awards soon. In the meantime, see the 2014 Winners

Private Equity Perspective

Wynnchurch Leveraged Housing Recovery to Expand Portfolio in 2015

Sales of new homes in the U.S. have been strong, which is good news for Wynnchurch-backed pool maker Latham

Private Equity Firms Ramp Up Technology Investments

More firms are joining long-time tech investors such as Thoma Bravo and HGGC

PE Firms with Female Execs Boast Competitive Advantage

As COO of the Riverside Co., Pam Hendrickson helped the firm seal the deal for cookie business Tate's Bake Shop

Lenders Look for Reoccurring Revenue Businesses [ma_kulakofsky_580.jpg]

Most technology companies are marketed as reoccurring revenue businesses, which is enticing to lenders, says David Kulakofsky of Madison Capital Funding. He adds that leverage multiples have increased in the last 12 to 18 months and should remain steady.

Tech Companies Attractive Buy Today [ma_bhatia_580.jpg]

The growth characteristics of technology deals are often better than other industries. Tech companies often have cyclical growth trends that are independent of cycles making them attractive today, says Iveshu Bhatia of Audax Group.

Long-Term Revenue Contracts Helps During Economic Cycles [ma_blasco_580.jpg]

Investors are looking at new opportunities with the idea that there will be a high likely hood of some form of economic downturn during their hold time, says Ian Blasco of Riverside Partners. With this in mind, the companies attracting the more interest are companies that are resilient to economic pressure with long-term contracted revenue streams.

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The Buyside

Aging Population Drives Home Nursing Deals

C.R. Bard, Almost Family and Amedisys have been looking for acquisitions in the space

E-Commerce Delivers Logistics Deals

To keep demanding customers happy, XPO Logistics and others are making acquisitions to build services

3M Moves Beyond Scotch Tape for Growth

Lately, 3M has been realigning the part of the safety and graphics division that makes safety equipment through acquisitions and divestitures

Agriculture Acquirers Feed on Crop Protection

Technology advances and customer demand are driving deals, such as the recent Land O’Lakes merger with United Suppliers

Solar Energy Shops Warm Up To Mid-Market M&A

An uptick in deals, including Gibraltar's acquisitions of RBI Solar and Rough Brothers Manufacturing, stems from the anxiety over the ratcheting down of the federal solar investment tax credit

E-Training Services Entice Bidders

On the heels of Lynda.com’s recent deal with LinkedIn, Riverside picks up Health & Safety Institute

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Finance Finesse

Financing Tightens for Mid-Market Companies

Antares Capital co-CEO David Brackett says senior debt prices have gone up

As Dividend Recaps Decline, Investors Look Elsewhere

Houlihan Capital's Andrew Smith says PE firms are paying out less dividend recaps with rising interest rates

BDC NAV Problems Could Result in M&A

The stock prices of BDCs are too low to raise more capital from the public markets

Dealmakers are Banking on Asset Management

Dealmaking in the asset management space is underscored by Loeb president Jamie Kempner's recent strategic alliance

Are Senior-Secured Loan JVs the Next Big Thing?

CIT and Ares have recently formed joint ventures, as larger hold sizes help bring home deals

Unitranche Loans Charm PE Firms

The loan structure has staying power and is expected to remain popular if and when interest rates rise

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