Middle Market Growth
by Association of Corporate Growth
The Middle Market Growth podcast features in-depth interviews with industry experts and middle-market dealmakers about trends impacting midsize companies and M&A. This podcast is a production of the Association for Corporate Growth. To learn more about ACG, visit acg.org. To hear more interviews with experts and thought leaders, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Episodes
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Carve-Out vs. Wind-Down: A Guide to a Complex Exit
When an otherwise healthy business has a poorly performing division, sometimes exiting that division is the right choice. Deciding to exit via a carve-out or a wind-down can be the next tough choice leaders have to make. Eric Kaup, chief commercial officer, head of global originations and special...
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Rethinking the Five-Year Exit: How Sponsors and Lenders Are Responding to Longer Hold Periods
According to Bain, average hold periods for buyout funds have extended to roughly seven years, necessitating a recalibration in approach for both sponsors and lenders. TPG Twin Brook’s Betsy Booth is back with the podcast to talk about this new normal, how dealmakers are strategically adjusting,...
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The Dealmaker’s Guide to Stress Testing AI Value
If you ask private equity firms or their portfolio companies if they’re using AI, the vast majority will say yes, but many of them are still not seeing major value from the technology. GrowFast Advisory’s Stephen Murray is back with the podcast to share his insights on how to spot real…
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Inside the Fastest-Growing Corner of Private Credit: Asset-Based Finance
Asset-based finance (ABF) is a rapidly growing niche of the highly scrutinized private credit space, with some analysis projecting a 10.2% compound annual growth rate from 2026 to 2035. Alex Knowland and Brenden Gallinek are building out ABF business at WhiteHorse Capital, and they join the…
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Finding the Entry Point Into AI’s Hyperscale Buildout
As AI drives an unprecedented wave of data center construction, where can middle-market investors find a foothold? Brian Thom and Ryan Gillis of Brown Gibbons Lang & Company join the podcast to explore the M&A opportunities emerging beyond the headline-grabbing megaprojects, share where deal...
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The Founder's Guide to Capital
For a founder or entrepreneur, choosing whether or not to opt for outside capital is an important inflection point. Joe Camberato of National Business Capital sits down to talk about the misconceptions many founders hold about capital, how they can prepare for a first-time capital infusion, and…
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Rocketing Defense Spending’s Effect on Middle-Market M&A
Rising geopolitical conflict and projected record defense spending signal a potential wave of middle-market deals for companies in the aerospace and defense sector. Merit Investment Bank’s Chris Abato and Leonid Capital Partners’ James Parker join the podcast to discuss trends in defense sector...
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Carve-Out vs. Wind-Down: A Guide to a Complex Exit
When an otherwise healthy business has a poorly performing division, sometimes exiting that division is the right choice. Deciding to exit via a carve-out or a wind-down can be the next tough choice leaders have to make. Eric Kaup, chief commercial officer, head of global originations and special...
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Addressing AI's Deal Sourcing Blind Spots
Grata was acquired last year, but the firm still gets emails from investors wanting to participate in its Series A funding round. It could be the result of business development professionals relying on AI to source deals without addressing the technology's blind spots, says General Manager Nevin...
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Building HR to Scale with Portcos: Part 1
The human resources function can struggle to keep pace with a scaling business, so how can teams implement an HR strategy that enables growth rather than hampering it? In part one of a two-part series, Insperity’s Chris Sloan and Mike Iapalucci join the podcast to talk about the HR solutions that...
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Beyond the Business Card: Networking to Drive Growth
Young professionals—and M&A professionals of all seasons—are told time and time again that M&A is all about who you know, but actually making meaningful connections that lead to real deals takes more than showing up and handing out business cards. J. Michael Fischer Jr., managing director at DBD...
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Growing Into the Middle Market: How Small Businesses Size Up
As small businesses grow into the middle market, their infrastructure, people, and capital needs can change rapidly. Joe Camberato, founder and CEO of National Business Capital, is back with the podcast to delve into what small businesses need to successfully scale in 2026 and the role creativity...
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Resilience and Discipline in the Lower Middle Market
In today’s private credit markets, success is defined by resilience and discipline. As a higher-for-longer rate environment reshapes the lower middle market, new challenges are creating fresh opportunities for those who stay the course. Chris Hendrix of TPG Twin Brook joins the podcast to debunk...
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The Subordinated Debt Strategy for Growth
Subordinated debt can play an important role in the capital stack for businesses growing into the middle market—if used under the right circumstances. Joe Camberato, founder and CEO of National Business Capital, shares how he’s seeing small and midsized businesses use sub debt not as a lifeline…
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The Apprenticeship Returns to Fill the AI Talent Gap
Upskilling is an important component to a human capital management strategy, but isn't enough to fill today’s AI talent gap. Daniel Pianko, cofounder and managing director at private equity firm Achieve Partners, offers a look into the firm’s apprenticeship program that begins filling that gap…
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Midmarket Borrowers Play Offense with Private Capital
The middle market continues to face an uncertain and challenging environment, but new data from KeyBank’s Middle Market Snapshot survey reveals something surprising about midmarket borrowers’ use of private capital: It’s become an important lever for strategic growth, not just survival. KeyBank’s...
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How Human Capital Drives Operational Agility
Firms that can respond swiftly to a complicated and rapidly shifting investment environment have a competitive advantage. Creating that agility requires the right human capital strategy, a component that is often overlooked, says Insperity Private Capital Consultant Brad Burke. He joins the…
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PE's Evolving Playbook: How Competition Changed Buyer Behavior
Since 2020, private equity has seen high highs and low lows, and in a more competitive and condensed market, firms are having to pull different levers to see value. Adrian Nohr, principal with CLA, joins the podcast to share her perspective on how shifting market dynamics are influencing buyer...
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Beyond Layoffs: Where AI Transitions Can Leak Value
AI has fueled white-collar layoffs at blue chip companies, but many middle-market workers and leaders are uncertain of exactly how and when AI will impact their lives and businesses. Stephen Murray, founder and president of Grow Fast Advisory, shares how AI is driving change in the middle market,...
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Lending to Consumer-Focused Businesses Amidst Inflationary Pressures
Geopolitical tensions have shaken the markets, spiked fuel prices, and created new financial challenges for consumers at the gas pump and beyond. Joining the podcast to share more about the health of the consumer sector and what it means for lending in the space are WhiteHorse Capital’s Javier...
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The Next Generation of Law Firm Deals
In the last fifteen months, private equity investment in law firms has gone from theoretical to reality. Tom Lenfestey of the Law Practice Exchange is back with the podcast to talk about new legal and regulatory developments, what drives multiples in law firm valuations, the cultural elements...
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The Four Types of Middle-Market Decision Makers
Recent research from the National Center for the Middle Market (NCMM) found there are four distinct styles of decision making for strategic leaders in the middle market, each with impacts on performance and growth. Doug Farren, executive director of the NCMM, is back with the podcast to talk…
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Redefining the Middle Market for a New Age of M&A
New research from RSM argues that the way we define the middle market is due for a major change. Tuan Nguyen, an economist at RSM, says the shifts in the makeup of the middle market have major implications for the people that work within it. Nguyen joins the podcast to dive into the findings and...
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The Anatomy of a DealMAX Deal: Inside DealMAX with Datasite and Blueflame AI
For the sixth episode of this year's Inside DealMAX series, we talk to two attendees who ended up inking a deal at last year's DealMAX. Doug Cullen, chief strategy officer of Datasite, and Henry Lindemann, cofounder and chief growth officer of Blueflame AI, join the podcast to share their story,...
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Browsing Retail M&A with PwC’s Mike Ross
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…
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Through the Lender’s Lens: Inside DealMAX with Christine Nowaczyk and Jalal Taby
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...
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The Micro Clues That Could Win the Deal
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...
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Behind the Curtain: Inside DealMAX with Kate Weaver
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…
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Flipping the Script: Inside DealMAX with GF Data's Ruben Burke and Ryan McCann
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…
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Expect the Unexpected: A 2026 Lending Outlook with WhiteHorse Capital
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...
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AI and the Talent Pyramid Problem
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…
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Private Equity Meets the 401(k)
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…
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The 2026 Economic Outlook with Michael Feuz
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...
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Breaking Loose: Inside DealMAX with Doug Brookman and Mike Alberts
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…
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Optimism and Comfy Shoes: Inside DealMAX with Brent Baxter and Suzie Doran
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...
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The Year Ahead: Dealmakers on Fundraising, Exits, and More
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...
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Why Manufacturing Execs Are Bullish on 2026
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...
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Getting Investors Primed and Ready for Beauty Sector M&A
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...
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Can PE Score in the Youth Sports Sector?
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...
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What New Research Says About PE’s Impact on Midmarket Businesses
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…
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The Rise of ESOPs: What the Midmarket Needs to Know
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...
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A Look at the Soaring Aerospace and Defense Sector
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…
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The Rise of Continuation Vehicles and Other Trends in the Lower Midmarket
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...
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Traveling the Transportation and Logistics Sector
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...
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Inside the OBBBA's Tax Provisions
Diving deeper into the implications of the One Big Beautiful Bill Act, Forvis Mazars’ Donald Rawe, partner, and Howard Wagner, managing director, join the podcast to talk through the most impactful tax provisions, from 1202 changes to bonus depreciation and more. This episode is brought to you by...
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Unlocking AI’s Potential for Portco Value Creation
AI has been making significant inroads in PE, but the most common use cases are often based in deal sourcing or due diligence. However, new uses are emerging, including value creation for portfolio companies. Bruce Sinclair, managing partner of AI Operating Partners, joins the podcast to share…
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Unpacking the Big Beautiful Bill for the Middle Market
What changes does the One Big Beautiful Bill hold for middle-market businesses and the firms that invest in them? Michael Feuz, economist with ITR Economics, is back to talk through key provisions in the bill, what they mean for the middle market, and how businesses and investment firms should...
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Inside Enforcement in the Trump 2.0 SEC
What will SEC enforcement look like in the Trump 2.0 era? Emilie Abate, managing director at Iron Road Partners, joins the podcast to share how policy is shifting, how oversight of secondaries, AI and management fees is shaping up, and more. The Middle Market Growth Conversations podcast is...
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Taking the Temperature of Healthcare Lending
Javier Casillas, managing director and global chief credit officer with WhiteHorse Capital, and Sachin Garg, principal with WhiteHorse Capital, join the Middle Market Growth Conversations podcast to talk about the environment for lending and private credit in the healthcare space and the biggest...
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The Economic Impact of Trump’s Policies
Initial pro-business sentiment following the election quieted a bit after the Trump administration issued a series of tariff announcements and retractions that roiled the stock market. With tariffs still on the table, Michael Feuz, an economist with ITR Economics, sits down with Middle Market...
About this show
The Middle Market Growth podcast features in-depth interviews with industry experts and middle-market dealmakers about trends impacting midsize companies and M&A. This podcast is a production of the Association for Corporate Growth. To learn more about ACG, visit acg.org. To hear more interviews with experts and thought leaders, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.
Hosted by
Association of Corporate Growth
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