Corporate dealmaking accelerated sharply in early 2026, with transactions above $100 million rising 65% in value and 17% in volume during the February-to-April period compared with the same period in 2025. The acceleration was led by a resurgence in $5 billion-plus megadeals, according to the EY M&A Activity Report for April 2026.
For business brokers and small business buyers, the broader M&A surge carries important downstream implications. When large corporate buyers complete major acquisitions, they often turn to smaller add-on transactions to fill capability or geographic gaps. That pattern is already emerging in the lower middle market.
Private equity activity is a central driver. Firms are targeting businesses in the $2 million to $25 million EBITDA range as platforms for additional bolt-on acquisitions. Service businesses, trades, franchises, and companies with recurring revenue are attracting the strongest institutional interest. For sellers, competing offers from both PE buyers and strategic acquirers is creating more favorable negotiating conditions than at any point in the last three years.
Strategic buyers are also re-engaging after pausing acquisitions during periods of rate volatility. The convergence of institutional and strategic buyers is creating more competitive processes for well-prepared businesses -- which benefits sellers who enter the market with clean financials, documented systems, and a clear growth narrative.
SBA lending remains a significant driver for individual buyers, with down payments in the 10% to 20% range allowing more buyers to qualify. Lenders are selective, focusing on customer concentration and cash flow stability, but deal volume is heading higher.
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Source: EY -- https://www.ey.com/en_us/insights/mergers-acquisitions/m-and-a-activity-report