Closing Remarks Podcast: Will Sullivan on Private Equity Trends

Where are buyers placing their capital, and what does that mean for business owners?

In this episode of Closing Remarks, host Dara Shareef talks with Will Sullivan, Managing Director at Benchmark International, to explore where buyers are deploying capital, which industries are attracting the most attention, and the market trends shaping the middle market M&A.

The biggest opportunities in today’s M&A market aren’t always where you’d expect. From industrials and infrastructure to AI-driven demand and evolving deal structures, this conversation examines the forces influencing buyers and what business owners should understand before taking their business to market.

Key Highlights

· Industrials, infrastructure, and data center-related businesses remain in demand

· Private equity has significant capital to deploy

· Evolving deal structures may provide sellers with more ways to participate in future growth

Industrials are Back in Focus

Industrials, infrastructure, and businesses associated with data centers continue to generate strong buyer interest.

This includes manufacturing, utilities, wastewater, electrical services, logistics, and businesses serving aerospace, defense, automotive, healthcare, and construction markets. Businesses tied to domestic investments are also benefiting from sustained demand.

Deal Structures Are Evolving

Dara and Will talk about how deal structures are shifting, including seller notes, earnouts, and rollover equity, and what that could mean for sellers.

Looking beyond the purchase price can help business owners better evaluate an offer.

Private Equity Has Capital to Deploy

Some funds are under pressure to invest their capital rather than return it to investors.

Even though many private equity firms have capital to invest, they are still selective. Buyers are not simply looking for any business but are seeking businesses that are the right strategic fit.

A business may be worth more to a buyer that sees it as a missing piece needed to enter a market, enhance capabilities, or accelerate an existing growth strategy.

For prepared business owners, this creates opportunities in today’s market.

Beyond the Data Center Boom

The rise of artificial intelligence and cloud computing is driving significant investment in data centers.

Data centers require power, water, cooling systems, security, construction expertise, and specialized infrastructure. Businesses providing turbines, electrical equipment, water solutions, secure facilities, and technical services could benefit as demand continues to grow. Investors are increasingly looking for ways to participate in the trend without building a data center themselves.

Connect With Our Global M&A Team

Preparing to Sell a Business

Preparing early is one of the biggest advantages a business owner can have. Organized financials, experienced legal and financial experts, documented institutional knowledge, and active participation throughout the process can help position a business for a successful sale and stronger buyer interest.

Where to Watch

The biggest opportunities in today’s M&A market aren’t always where you’d expect.

Watch the full episode as Dara Shareef and Will Sullivan break down where capital is flowing, what today’s buyers are looking for, the industries buyers are watching closely, and the market shifts every business owner should understand before taking a business to market.

This episode of Closing Remarks is available on Spotify,  Amazon Music,  Apple Podcasts, and YouTube.

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