Pitchbook – Friday Morning Dealmakers Column
BGL’s semiannual state of middle market financing report shows the market is in a hangover from the flurry of activity driven by the threat of tax changes in 2010, 2011, and 2012. Private equity liquidity event deal flow is minimal, and dividend recap activity is light. Private company activity is equally sparse. Around those deals that are high quality, there is literally a feeding frenzy. Signs point to a rebuilding of the M&A pipeline, with conditions ripe for deal-making.
Rebecca Dickensheidt, BGL Director of Research, interviewed 24 lenders for the report.