The Middle Market Review Insights on the Middle Market.

Axial Radar: Recapping Q1 Deal Activity Data

Dani Forman
April 15, 2022

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Happy Friday and welcome to another edition of Axial Radar!

Global M&A took a nose dive in the first quarter of 2022. Data from Refinitiv revealed that after peaking in December, M&A deal value and volume began to decline, and continued to decline monthly throughout the quarter. Disappointing? Absolutely. Surprising? Not at all.

Despite the slow start to the year, there was one corner of the market that remained surprisingly active. The lower middle market continued to see incredibly high volumes of activity, demonstrating yet again that it is not correlated with the public markets or large cap M&A. In this week’s featured Industry Trends article (scroll down to the bottom of the newsletter), we analyze LMM transaction data from Q1. We also identify the top 25 LMM investment banks based on each firm’s deal activity from the quarter.

Our featured buy-side members this week include an SMB-focused family office, an investment firm founded by a 20 year industry veteran, and a Central American PE firm. On the sell-side we’ll introduce you to a boutique investment and merchant banking firm and a specialized consulting/advisory firm.

Click here to follow Axial on LinkedIn and stay up to date on the latest trends in the world of Lower Middle Market deal making.

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Featured Members

	Creach Family Holdings, LLC Family Office Creach Family Holdings is a private investment firm focused on small to medium sized acquisitions. The firm partners with exceptional companies seeking the next stage of growth. Post acquisition, CFH works closely with their portfolio companies to drive measurable value for all stakeholders. View Profile

	TerraNova Capital Partners, Inc. Investment Bank Founded in 1999, TerraNova Capital Partners is a boutique investment and merchant banking firm with global operations. The firm specializes in growth sectors with expertise in healthcare, life sciences, technology, ESG, clean technologies, infrastructure and food and beverage production. View Profile

	HTR Capital Independent Sponsor HTR Capital is a private investment firm focused on building businesses in the lower middle market. HTR primarily targets control investments and believes that superior returns can be achieved through investing in businesses that have an asymmetric risk profile alongside high-quality management teams. HTR was founded by David Hobbs. Prior to founding the firm, Mr. Hobbs was a managing partner at Brick Investment Partners, and was a senior M&A professional at Citigroup focused on the global oil & gas and transportation sectors. View Profile

	Oaklyn Consulting Investment Bank Oaklyn Consulting is a different kind of investment banking firm for privately-held companies. The firm helps their clients navigate mergers, acquisitions, joint ventures and other strategic transactions through arranging financing, planning succession, and managing investor relationships. By working as consultants, not brokers, Oaklyn can help their clients in situations where other investment bankers cannot. View Profile

	Prival Bank Private Equity Firm Prival Bank is a financial institution dedicated to Private Banking and Investment Banking services in Panama and Central America. Founded by experts with experience from various different areas of the investment industry, Prival Bank has the ideal team to advise its clients on wealth management and support with all personal and business financial needs. View Profile