Past the peak? Emerging M&A trends in 2023

Will 2021 be forever known as “peak M&A?” While 2022 was a strong year in our markets, activity and valuations declined from the prior year. This year, high interest rates and tougher bank underwriting are hitting a wider range of transactions. Private equity and strategic buyers are still cash-rich, but price pressure is building. What has the 2023 market told us so far? What does the rest of the year hold?