Steady Volume, Slower Pace: Canada’s Midmarket in Changing Times
In episode 162 of Views from the Market, I’m joined by Tyler Lang of HDL Capital, a Toronto-based M&A advisory firm, to discuss the latest trends in lower midmarket deals. One notable shift is the lengthening of typical deal timelines to 4-6 months post-LOI, up from 2-4 months just a few years ago, driven by increased lender caution and reliance on quality of earnings reports. Tyler also highlights a trend of sellers holding unrealistic valuation expectations based on outdated market reports and, increasingly, AI-generated analyses. Despite macroeconomic uncertainty, Tyler remains optimistic, citing strong private equity interest and the continuing wave of “baby-boomer” exits. Listen and subscribe on SoundCloud, Spotify, Apple Podcasts, and YouTube: redacted