Q424 M&A Lower & Middle Market Report | Artemis Transaction Advisors

Comprehensive US Lower and Middle Market M&A Report

The image of the report cover page showing two people shake hands after completing a business deal.

Middle-market M&A activity in the U.S. maintained momentum in Q4 2024. This movement is characterized by stable valuations, increased private equity activity, and favorable financing conditions. Stability in valuation trends has been attributed to consistent deal demand from private equity firms and strategic acquirers.

Q424 saw a flood of investment activity reflecting increasing confidence in the market with equity firms looking to capitalize on strategic opportunities. In this report we examine a few deals that we feel are indicative of current trends and can shed light on how the M&A landscape will develop in 2025.

Read the US 2024 M&A Activity Report »

Recent News & Reports

July 29, 2026

Industry Spotlight: Education & Training

The Education and Training sector Q2 2026 M&A outlook provides an overview of key valuation trends and notable market developments across the education sector, where diverging valuation trends and selective deal activity are beginning to signal a shifting market environment.

July 28, 2026

Triumph Higher Education Acquires Culinary Institute of Barcelona

Lead by Alex Hicks, Managing Director at Artemis, this acquisition further enhances Triumph's global culinary education network. This transaction represents our 2nd deal closing in under one year for this client.

April 30, 2026

Industry Spotlight: Education & Technology

The Education and Training sector M&A outlook from Q1 2026 reflects a sector facing multiple transformative dynamics. AI integration is moving from novelty to essential infrastructure while some pundits warn of risks and others hail normalization of the new technology.

April 8, 2026

Triumph Higher Education Acquires Pacific Institute of Culinary Arts

Lead by Alex Hicks, Managing Director at Artemis, the acquisition marks a strategic expansion for Triumph into the Canadian market - uniting PICA with the Auguste Escoffier School of Culinary Arts.

Artemis News & Reports