
Capstone Partners & IMAP Survey Predicts Strong M&A Market in 2025
- Editor
- Feb 6
- 1 min read
What's Happening: Capstone Partners and IMAP have released their annual Trends in Global M&A Survey Report, providing insights into M&A market activity in 2024 and expectations for 2025. The survey, conducted between September and November 2024, gathered data from 100 M&A advisors across 54 countries, indicating a positive outlook for the 2025 M&A market.
The Key Moves:
79% of advisors anticipate increased deal flow in 2025, up 28% year-over-year.
Only 38% of advisors expect a recession in 2025, down 22% from the previous year.
51% of investment bankers expect private equity activity to increase in 2025.
By The Numbers :
88% of advisors reported middle market M&A activity outperformed or matched the broader market in 2024.
69% of advisors indicated recurring revenue was the most important characteristic to acquirers in 2024, up 6% year-over-year.
46% of advisors expect M&A purchase multiples to rise moderately in 2025 compared to 2024.
Key Quotes:
"Through this research, Capstone Partners and IMAP have tracked notable impacts on the global M&A market, current economic environment, as well as M&A advisors' expectations on pricing trends and regional risks and opportunities moving forward into 2025."
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The Bottom Line: The 2025 M&A market outlook is positive, with expectations of increased deal flow, reduced recession fears, and robust private equity activity. Middle market M&A remains strong, and buyers are prioritizing companies with recurring revenue. The report provides valuable insights for middle market business owners considering a liquidity event.



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