CMG’s Terence Hannafin and Geoff Bradley spent two solid days at M&A East speaking with private equity investors, lenders, and fellow dealmakers from across the lower middle market. One thing was clear: momentum is returning. Deals are moving again, confidence is improving, and 2026 is setting up to be an active year for M&A. Key...Read More
The third quarter of 2025 brought a mixed landscape for M&A across the HVAC industry. As always, the sector’s performance is nuanced, reflecting the varied dynamics of the three primary segments we track – manufacturing, wholesale distribution, and HVAC/R services. In manufacturing, continued tariff uncertainty remains the dominant headwind. Both buyers and sellers have been...Read More
The third quarter of 2025 for M&A for manufacturing and industrial businesses continues to be challenging, but there are still opportunities for well run platform companies. Overall, tariffs continue to dampen the M&A activity in the manufacturing sector as there has yet to be sufficient clarity to pull both sellers and buyers off the sidelines....Read More
The consumer sector in Q3 2025 was marked by continued caution and volatility due to global supply chain pronouncements. As a result, the M&A environment has prompted continued restraint within some consumer subsectors and newfound optimism and activity in others. Sellers that remain impacted by foreign tariffs are hesitant due to uncertainty (like the newly...Read More
The Specialized Services sector continues to deliver steady deal flow, but the drivers of activity are shifting. Where last year’s focus was on resiliency and predictability, investors today are zeroing in on efficiency, sophistication, and scalability. As the market stabilizes, the bar for what constitutes a ‘top-tier’ company has risen: investors are demanding better systems,...Read More
Welcome back from late summer breaks and back-to-school activities and travel. The fall season has brought plenty of better news as the Fed considers lowering interest rates and tariffs and trade deals with the EU become more transparent. Meanwhile, Reuters has recently reported that global dealmaking has reached $2.6 trillion, the highest for the first...Read More
Our latest report offers a comprehensive look at developments shaping the HVAC industry this quarter, including: Key takeaways on the implications of Trump’s “Big Beautiful Bill” for the sector An exclusive Q&A with Jake Gubler, VP of M&A at AMPAM A roundup of notable M&A activity and public market trends Whether you’re business owner considering...Read More
I am incredibly excited to have you join us here in our Consumer Products newsletter. We will be publishing this newsletter after each quarter. My name is Peter Costa, and I am a Managing Director here at Carter Morse & Goodrich (CMG). I lead our Consumer Products practice out of the Providence, RI office. Within...Read More
The second quarter of 2025 for M&A in the manufacturing and industrial space has been, well, interesting. Generally speaking, tariffs and ongoing political volatility continues to keep sellers on the sidelines and investors remain leery. Those that are dependent upon imports for core components of finished goods are facing real challenges at the moment with...Read More
Specialized Services continue to stand out in today’s M&A environment—not because they’re flashy, but because they’re foundational. These are the companies that keep industries running: providers of logistics, testing, compliance, facilities management, and a range of outsourced B2B services that enable scale, safety, and operational efficiency. While the broader M&A market remains uneven, Specialized Services...Read More
