The German Mittelstand - the backbone of one of Europe’s largest economies- is entering a period of profound transition.

For many owners, selling a business is a once-in-a-lifetime event - the financial culmination of decades of entrepreneurial work.

In reality, they’re specialist scouts in a jungle full of moving targets, asymmetric information, and buyers who love optionality. The boutiques that win consistently aren’t the loudest.

Every few years, something comes along that’s “definitely going to end advisory as we know it.” Spreadsheets. The internet. Zoom. Now AI.

After a choppy few years, global M&A is finding its stride again. What’s interesting isn’t just that deal volumes are recovering, it’s where they’re concentrating.