Axial's Q1 2022 Lower Middle Market Pursuits Report Highlights the Continued Resiliency of American Lower Middle Market M&A

Despite an uncertain economic and geopolitical backdrop, M&A activity in the lower middle market remains largely insulated from the volatility experienced elsewhere


Axial, the online M&A platform connecting buyers, advisors, and sellers of small and medium-sized businesses, has released its Lower Middle Market Pursuits report for Q1 2022. Amid swirling uncertainty in global M&A - not to mention record inflation, unrest in Eastern Europe, and a new wave of pandemic-related supply chain disruptions in China - the lower middle market remains very active among both buyers and sellers.

Download The Q1 2022 Lower Middle Market Pursuits Report

"Despite the sharp dropoff in overall activity in the last year, the lower middle market appears unfazed, with buy-side activity on the Axial platform reaching new highs in the first quarter," says Peter Lehrman, CEO and founder of Axial. "The bad news is that the lower middle market may no longer be the best-kept secret in M&A. The good news, though, is that there is no shortage of deals to go around. The data suggests 2022 will be another perfectly robust year."

Q1 2022 deal activity was just below the record-setting Q1 2021 high watermark. Buy-side activity, involving members creating new investment mandates via the platform, also surged, growing by one-third year-over-year.

"Certainly, those in the lower middle market are aware of the outside forces impacting the broader M&A market, but there are simply more reasons for optimism right now in the LMM," says Dani Forman, Director of Research at Axial. "Small and medium-sized businesses with largely domestic customer bases continue to see strong demand and revenue growth and credible interest from growth-hungry acquirers. As a result, lower middle market M&A dealmakers are as engaged as ever, despite rising interest rates, wobbly public markets, and a war in Europe."

About Axial

Axial is the online M&A platform for buyers and sellers of small and medium-sized businesses. The company's pioneering deal sourcing and deal marketing platform is trusted by professional buyers, M&A advisors, and business owners to source opportunities, confidentially and digitally exchange critical deal information, and quickly assess the quality and reputation of potential deal partners. For more information on Axial, visit

For press or business inquiries: 
Dani Forman, Director of Research
Axial |

Source: Axial


Categories: Mergers and Acquisitions

Tags: finance, lower middle market, mergers & aquisitions, pursuit rate