Middle Market Growth Conversations

ACG’s Q1 Market Pulse Survey found that retail was the sector least likely to see increased M&A activity in the first half of 2026. But a closer look reveals a more nuanced market, says Mike Ross, U.S. consumer markets deal leader at PwC. He joins the podcast to explore the consumer habits creating investment opportunity, why carve-outs have grown in popularity, and more. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

What’s ahead for the lending world in the year ahead, and how does that play into why lenders come to DealMAX? In our fifth Inside DealMAX episode of 2026, we’re joined by Christine Nowaczyk, SVP at U.S. Bank, and Jalal Taby, SVP at Comerica Bank—both veteran lenders and DealMAX attendees—to talk about their lending outlook for 2026 and how they get the most out of DealMAX. Register today at dealmax.org. This episode is brought to you by Grata. Learn more at grata.com. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

Have you ever wished you could get a memo on what the person negotiating with you across the table is really thinking? You can, says microexpressions expert Annie Sarnblad, if you learn to read the minute and universal facial cues that everyone makes. Sarnblad joins the podcast to explain why microexpressions matter and how to make them work for you in negotiations. This episode is brought to you by Grata. Learn more at grata.com. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

It's possible that no one knows more about DealMAX than Kate Weaver, vice president of events at ACG. She joins us for the fourth episode of this year's Inside DealMAX series to share the secrets behind the scenes and what attendees can look forward to this year, as well as hot tips and conference hacks only an insider would know. To join us at DealMAX, learn more at dealmax.org. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

While data providers may see M&A conferences as an opportunity to seek out dealmakers, GF Data's Ruben Burke and Ryan McCann say DealMAX flips the script and offers a chance for the dealmakers to come to them. The two sit down for the third episode of this year's Inside DealMAX series to share how they engage with the middle-market M&A community, plus offer some sneak peeks into the latest of GF Data's findings on the state of the market. Register today at dealmax.org. Learn more about GF Data, an ACG company, at gfdata.com. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

From geopolitical events to tariff fallout, 2025 brought plenty of surprises, and 2026 will surely hold some of its own. Pankaj Gupta, CEO of WhiteHorse Capital, and Stuart Aronson, chair of WhiteHorse Capital, are back with the podcast to share their observations on how the lending space was impacted by the events of 2025 and their predictions for the year ahead—for the lending world and the broader M&A marketplace. This episode is brought to you by WhiteHorse Capital. To learn more about WhiteHorse, visit whitehorse.com. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

Many industries, including management consulting and legal firms, have long used a talent model that requires hiring large classes of entry-level workers. Now that AI efficiency gains have appeared in many sectors, that large pool of new hires is being trimmed down—but what does that mean for firms that will need mid-career and senior workers in a few years? Atta Tarki, founder and chair of ECA Partners, discusses the challenge, how it will impact PE firms and their portfolio companies, and how business and talent strategies will need to evolve in the age of AI. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

Last August, President Trump issued an executive order for the Department of Labor and Securities and Exchange Commission to lay a framework allowing private equity investments within 401(k)s. The initiative would unlock a new, potentially massive source of capital. But democratizing private equity for retail investors would have many implications for firms, says Jim Walker, partner and global head of wealth at Adams Street Partners. He joins the podcast to discuss how this initiative might play out, how the PE community can prepare, and what firms can learn from existing funds developed for high net worth individuals. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

Michael Feuz, economist with ITR Economics, is back to share what middle-market business leaders and dealmakers can expect in the year ahead. From interest rates and inflation to deal flow and AI, Feuz discusses the biggest trends that will shape the economy in the U.S. and globally in 2026. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

The shape that M&A takes in the first quarter of 2026 will color the mood at DealMAX and what dealmakers are looking to accomplish as they hit the deal floor in April. Doug Brookman, managing director at Mesirow Investment Banking and this year’s DealMAX chair, and Mike Alberts, principal and head of business development at Cohere Capital and vice president of ACG Boston, join the podcast for the second episode of the 2026 Inside DealMAX series to share how they expect deal flow to shape up in the early months of the year, their tips as DealMAX veterans, underrated DealMAX offerings, and more. Register today at dealmax.org to take advantage of the early registration rate, available until January 14. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

Roughly 16 weeks out from DealMAX 2026, we’re kicking off this year’s Inside DealMAX series, taking you behind the scenes of ACG’s flagship conference for the middle market, taking place April 27th through 29th at the ARIA in Las Vegas. Brent Baxter, CEO of ACG Global, and Suzie Doran, partner at SingerLewak and the incoming ACG chair, sit down with the podcast to discuss what they expect from the M&A market between now and late April, their most effective DealMAX hacks, and what to expect from this year’s conference. Register today at dealmax.org to take advantage of the early registration rate, available until January 14. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

Forvis Mazars recently held a set of exclusive events for high-level dealmakers, in partnership with ACG and GF Data, to dissect the latest data on deal activity and to take a look into what 2026 might hold for PE-backed midmarket M&A. Scott Linch of Forvis Mazars and Bob Dunn of GF Data join the podcast to share what they discovered about fundraising, exits, the performance of specific sectors, and much more. This episode is brought to you by Forvis Mazars, a leading global professional services network. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

A recent survey of manufacturing executives conducted by Forvis Mazars found strong optimism for future growth, despite supplier price hikes, tariff shock waves, and other pressures. Bryan Wright, national manufacturing sector leader at Forvis Mazars, sits down with the podcast to share what’s driving this positive sentiment, how AI and automation are shaping the sector, and how he sees manufacturing M&A playing out in the year ahead. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

Past cycles have proven the beauty sector is resilient to downturns, but how will beauty M&A make out in the coming year? Fromm Beauty's Marty Okner and DC Advisory's Luc-Henry Rousselle join the podcast to discuss the most promising sectors, the challenges and opportunities in celebrity beauty brands, and what they expect for deals in 2026. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

Youth sports is estimated to be a $40 billion dollar industry, and one that private equity has been eyeing with interest. Christopher Russo, CEO and founder of Fifth Generation Sports, joins the podcast to discuss the risks and opportunities in the youth sports sector, as well as other sports niches that could be home runs for investors. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

A special report from the National Center for the Middle Market (NCMM) disproves some myths about private equity’s impact on middle-market businesses and offers some hard data on how PE-backed companies perform compared to their counterparts. NCMM’s Executive Director Doug Farren joins the podcast for a deep dive into the research’s findings and what it means for both middle-market companies and the PE firms that hope to invest in them. To read the full report, visit middlemarketcenter.org. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

Employee stock ownerships plans (ESOPs) are experiencing a surge in popularity due to tax policy, cultural benefits, and their flexibility as a corporate finance tool. Regina Carls, managing director at J.P. Morgan and the leader of its ESOPs advisory group, sits down with the podcast to dispel common myths about ESOPs, discuss their benefits, and give actionable advice to those considering an ESOP structure, whether they be middle-market companies or their sponsors. This episode is brought to you by GF Data, a provider of reliable, confidential data on private equity-sponsored M&A transactions in the $10 million–$500 million enterprise value range. GF Data's proprietary data is sourced directly from private equity groups and used by ESOP advisors, valuation firms, lenders, investors, and M&A advisors for benchmarking, valuation, and market analysis. Learn more at gfdata.com/ESOPs. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

The aerospace and defense (A&D) sector has seen solid growth in recent years, lifted by a new age of space exploration, Trump-era defense spending, and a renewed consumer demand for travel, among other factors. Max Asterlin, partner with Fairmont Consulting Group, joins the podcast to dive into the risks, challenges, and opportunities developing in the A&D space and how investors and business leaders can respond. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

From continuation vehicles to tariff impacts, from lending structures to interest rates, what are the biggest trends shaping M&A in the lower middle market? Chris Martin, partner with TPG Twin Brook Capital Partners, joins the podcast to talk about the latest developments, including the ascent of continuation vehicles and direct lending. This episode is brought to you by TPG Twin Brook Capital Partners, a leading direct lending finance company focused on providing cash-flow based financing solutions for the middle-market private equity community. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.

John Yeager, managing director of WhiteHorse Capital, and Corey Mason, principal with WhiteHorse Capital, sit down with Middle Market Growth Conversations to discuss the transportation and logistics (T&L) industry, including the current market environment, the potholes and risks in the space, and how to stand out among the competition. This episode is brought to you by WhiteHorse Capital, the direct lending arm of H.I.G. Capital. To learn more about WhiteHorse, visit whitehorse.com. The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.