New Year, New Resolution: With the holidays upon us and New Year’s resolutions taking shape, the M&A landscape reveals sharp contrasts and growing complexities. While overall M&A volumes are up, the same cannot be said about the middle-market. As transaction timelines elongate, due diligence processes dig deeper, and capital providers become elusive, the best resolution may be more helping hands and advisory elves in the M&A workshop.

  • Big, Shiny Ornaments: Strong performance across the large cap M&A market has been sustained by outsized transactions, yet deal count tells a more accurate (and less cheerful) story.
  • Quiet, Snowy Night: Both deal volume and deal count have declined across the middle-market, driven by buyer caution and financing challenges – resulting in a muted pipeline-conversion environment.
Intrepid Market Update December 2025 Chart

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