United States Activity

Skyline Advisors serves family-owned and closely-held lower middle market companies across the United States.

We publish a national capital markets report covering mergers and acquisition (M&A), growth equity, and venture capital activity across the country. We also publish eight regional activity reports with more granular details on deal activity within these eight regions: Mountain, West Coast, Midwest, South, Great Lakes, Southeast, New England, and Mid Atlantic.

These reports are focused on financial and strategic buyers and investors in the middle and upper markets. They are not intended to cover main street / individual buyers activity.

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Latest Report

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• The expected strengthening of the M&A market in 2025 continued in Q2 2025
• Private equity-backed acquisition increased to 35% of total M&A deal value in the trailing twelve months, up from 33% in 2024
• Banks have re-entered the market and are competing with non-bank lenders that filled in during their absence, with competition positively impacting rates even before Federal Reserve rate cuts
• Buyers continue to come off the sidelines, knowing that the cost of debt has stopped increasing and significant near-term decreases are not expected
• Valuations have normalized near pre-pandemic levels
• Growth equity and expansion investment by private equity dropped QoQ after reaching a new recent high the prior quarter
• Venture capital deal counts and aggregate values dropped slightly from the prior quarter, but still trending up over last couple years - driven by significant AI investment activity