Paul Elias

1 week ago | themiddlemarket.com | Paul Elias

Hopes were high that 2025 would usher in a dealmaking and IPO resurgence. Instead, concerns are mounting that tariff-induced economic uncertainty will turn into recession. Private equity dealflow, already under pressure from high interest rates, has dropped precipitously as recession fears mount. According to data from Preqin, global PE transactions had already fallen by 27 percent over the first three months of the year compared to the same period last year.

1 week ago | themiddlemarket.com | Paul Elias

After a decade of PE’s binge-buying burger joints and burrito chains, 2024 saw more bankruptcies than acquisitions. Will 2025 be better? There are signs of optimism emerging that fast-food M&A will have a better year than last, including sluggish summer sales picking up slightly at the end of the year. Roark Capital’s current fundraising effort and possible IPO of its giant franchisor platform Inspire Brands are also signaling a possible rebound in a sector with tremendous PE interest.

2 weeks ago | themiddlemarket.com | Paul Elias

The era of financial engineering, quick flips and easy money is fading into memory. In its place, a quieter but more durable strategy is reclaiming the spotlight: improving the operations of profitable businesses in stable and established industries. For Halmos Capital Partners and a growing cohort of lower middle-market shops, it’s not a trend. It’s how they’ve always done business. “Well-run businesses in good markets will be here forever,” says Halmos co-founder Andrew Cohan.

2 weeks ago | themiddlemarket.com | Paul Elias

Barclays (NYSE: BCS) has appointed Andrew Woeber, a former partner at Centerview Partners, as its new global head of M&A. Based in New York, Woeber will join the investment banking management team and report to global co-heads Cathal Deasy and Taylor Wright, Bloomberg is reporting. The hire comes as Barclays looks to regain ground in advisory and IPO services.

2 weeks ago | themiddlemarket.com | Paul Elias

Despite its enormous potential, non-sponsored lending remains elusive due in large part to sourcing difficulties. One emerging manager says developing a network of industry-specific advisors could help crack the code in the lower end of the middle market. The non-sponsored middle market lending is massive, potentially larger than the entire PE-backed market, yet the challenge has always been getting in front of the right businesses.