This past week, we spent two days in meetings with middle-market private equity funds at ACG’s M&A East conference. Throughout the meetings, we heard similar comments from funds around how competitive the deal market is right now – they are having to come up in price and seek alternative methods to access proprietary deal flow.
To add to that, it seems this somewhat tumultuous deal environment has been under more strain recently with the government furlough. While Congress bickers, deals are not getting done by many of the SBIC funds that rely on approval and financing from the Small Business Administration to close a deal.
Just another speed bump in the road for middle-market funds looking to get deals closed!