Deal sourcing

With leverage contributing less to returns, buyers are increasingly finding that the most expensive acquisitions are not those with the highest multiples, but those burdened by operational issues that delay value creation from day one.

Across lower middle-market private equity, fundraising momentum is increasingly colliding with the finite supply of founder-owned businesses available at attractive valuations.

In a proprietary Mergers & Acquisitions study, dealmakers describe how sourcing strategies have evolved since 2020 and what’s working in today’s market.