VFTM Episode 137 - Midmarket Deal Flow: Down but Definitely Not Out

June 19, 2025

by an investor from McGill University in Toronto, ON, Canada

In this podcast, Karen Fisman of PwC joins me to discuss recent midmarket M&A trends – specifically the significant decline in deal flow caused by the trade wars. Karen explains that the deals that are proceeding tend to involve smaller, tariff-resistant services businesses selling to buyers that are highly familiar with the businesses’ market niches. Karen believes that we may start to see premium valuations for tariff-resistant businesses as PE firms compete for a reduced number of investment opportunities. While a market recovery is unlikely in the remainder of 2025, Karen remains optimistic about 2026, anticipating that stalled processes will resume as clarity improves and the need to deploy existing capital drives activity. Listen and subscribe here: https://bit.ly/44wgSF5

Reply by a lender
from University of Delhi in Toronto, ON, Canada

Thanks Mario, for doing this one and sharing. Tariff-resistant businesses are like few shinning pens these days and are definitely getting more eyeballs.

Reply by a professional
from Simon Fraser University in Toronto, ON, Canada

So true https://searchfunder.com/article/viewarticle/56153

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