Debt utilization returned to pre-Covid levels in the third quarter, but debt composition still reflected caution.
Lower Middle Market is Bursting with Deal Opportunities, says Align Business CEO Dena Jalbert in this Q&A
"The lower middle market is very fragmented, comprised of thousands of smaller businesses, making it a prime candidate for consolidation in a buy-and-build strategy," mentions Jalbert.
President-elect Joe Biden’s proposed tax increases provide incentives for privately held businesses to “sell sooner than later,” says EY’s Bill Casey. “Following a tax rate increase, there would likely be an increase in joint ventures and alliances.”
Deal value in the third quarter was up 98 percent from the second quarter, according to updated data from Refinitiv. “Dealmaking strongly rebounded far earlier than expectations,” says Matt Toole, director of deals intelligence.