Congratulations to our Dealmaker of the Year, Mark Brady, global head of M&A for boutique investment bank William Blair & Co., and to all the winners of the M&A Mid-Market awards! With dealmaking down 10 percent in value and five percent in volume from the previous year, 2012 proved challenging. Nevertheless, the victors prevailed, delivering performance, growth, innovation and thought leadership. Read our cover story for detailed profiles of the honorees, and see "What We Look For," to learn more about our methodology. Looking ahead, mark your calendars for the second Friday in January to submit nominations for the 2013 awards.

Also in this issue, you'll find a sector spotlight on the emerging e-payments industry by contributing editor Danielle Fugazy. Strategic buyers and private equity firms are rapidly claiming stakes in the technology, which leverages the growing popularity of mobile devices. As we went to press, two more deals were announced in the sector, demonstrating how timely this story is.

And, reporter Allison Collins takes an in-depth look at bankrupt Hostess Brands Inc., which is headed to a pair of auctions in February and March to sell its once-popular assets, including Wonder Bread and Twinkies. Lead bidders include Flowers Foods Inc. and private equity firms Apollo Global Management LLC (NYSE: APO) and C. Dean Metropoulos & Co.

Collins also has a Q&A with Angela Raitzin, an investment adviser at Morton Capital Management, about the rise of "socially-responsible" investing. The latest example comes from state pension funds and others that are looking to exit investments in weapons makers in the wake of the December shooting at Sandy Hook Elementary School in Newton, Conn.

Assistant managing editor Anthony Noto explores dealmaking in the video-game industry in his column, The Buyside. Kabam Inc., famous for developing the popular iPhone application "Kingdoms of Camelot," is on a buying spree.

Coming up in the next issue: our preview of the Association for Corporate Growth's InterGrowth 2013 conference in Orlando, Fla., and a look at dealmaking in the rebounding real estate market.

Mary Kathleen Flynn

Editor-in-Chief

Mergers & Acquisitions | TheMiddleMarket.com