VFTM Episode 138 - Canada’s Midmarket: Managing Through the Trade War

July 03, 2025
by an investor from McGill University in Toronto, ON, Canada
As tariff threats loomed in early 2025, export-dependent Canadian midmarket businesses worried about what would happen next. In this podcast, I speak with Andrew Gowan of National Bank about what he’s seeing in midmarket M&A as the new reality sinks in. Many of his entrepreneurial clients – even those that rely on the export market – are working through the situation with the help of Andrew and his team, who remain focused on supporting the midmarket. Tighter due diligence and careful analyses of cross-border exposures are now standard, but lenders are still competing for good deals. Andrew notes that consolidation opportunities are particularly attractive in Canada’s vast lower midmarket.
Listen and subscribe here: https://bit.ly/4nxZWXi
from Western University in Toronto, Ontario, Canada