Unlocking Stalled Value

Why the Middle of the Portfolio is Back in Focus

M&A Market Update – Q3 2025

Positive momentum is returning to the market, and investors are finally turning to the middle of the portfolio or the “good, not great” assets they own. In 2025, firms concentrated on two extremes: selling their highest-quality assets to return capital and triaging the most challenged companies demanding intervention.  With those bookends now addresses, investors are turning the conversation to value creation and how to drive returns and meaningfully improve the businesses already in hand that are performing – just not at the level initially expected.

Roll-ups are proving more complex than previously modeled. Add-on pricing continues to rise, and synergies prove harder to capture. Many businesses are not yet ready for exit but instead require incremental capital, leadership augmentation, new capital structures, or further strategic M&A to unlock growth. 

As investors are shifting away from the extremes, the M&A markets are starting to open up and there is significant liquidity available to solve problems. The opportunity lies in rethinking the value creation playbook: stabilizing, reshaping strategy, and determining where to lean in and where to let go. G2 helps investors unlock stalled value by bringing the operational, financial, and strategic expertise needed to support growth.