John Norton

M&A Deal Tracker

What's actually trading in the lower middle market

National sector deep-dives and a running regional tracker of closed transactions across Oregon and Southwest Washington. Signals I use with clients — who's buying, what's trading, and where the momentum sits.

National sector reports

Sector deep-dives across the U.S.

Where buyers are actively rolling up companies nationwide. Useful context whether you're in the sector or watching adjacent activity.

National Sector · H1 2026

U.S. Roofing M&A

22 lower-middle-market roofing transactions. PE-backed platforms drove 91% of activity, with Ridgeline, Valor, Tecta, TrussPoint and Greenwood leading consolidation.

22
Deals
20
Strategic / Platform
2
Financial / PE

National Sector · H1 2026

U.S. Manufacturing M&A

58 lower-middle-market manufacturing deals across precision components, forgings, industrial products, food & beverage and building materials — active in 29 states.

58
Deals
46
Strategic
12
Financial / PE

National Sector · H1 2026

U.S. Construction M&A

62 lower-middle-market construction and specialty-trade deals across 27 states. HVAC, roofing, plumbing, civil engineering and architecture roll-ups led volume, concentrated in Texas, Florida and the Carolinas.

62
Deals
51
Strategic
11
Financial / PE

National Sector · H1 2026

U.S. Business Services M&A

78 lower-middle-market business services deals across 31 states — marketing, wealth management and RIAs, insurance brokerage, staffing, safety consulting and facilities services. The highest-volume category of H1 2026.

78
Deals
65
Strategic
13
Financial / PE

National Sector · H1 2026

U.S. Software M&A

72 lower-middle-market software and IT deals across 21 states — AI, cybersecurity, vertical SaaS and data businesses. Strategic buyers took 92% of the volume, led by California and New York.

72
Deals
66
Strategic
6
Financial / PE

National Sector · H1 2026

U.S. Hospitality & Food M&A

72 lower-middle-market hospitality and food & beverage deals across 26 states — restaurants and multi-unit concepts, craft beverage, specialty foods and resorts. Led by California, Texas and Florida.

72
Deals
62
Strategic
10
Financial / PE
More sector reports coming — construction, professional services, and distribution next.
Pacific Northwest activity

Deal activity in Portland & Southwest Washington

A running list of closed lower-middle-market transactions with target headquarters in Oregon or Southwest Washington. Updated as new deals are announced.

Regional · H1 2026

Oregon & SW Washington M&A

60 closed lower-middle-market deals under $100M EV across Oregon and Southwest Washington. Strategic buyers dominate; wealth management, industrials, tech and healthcare lead volume.

60
Deals
50
Strategic
10
PE / Sponsor

Curious what your business is worth?

I keep a close read on what's trading and who's buying. Let's compare notes over lunch.

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