---
title: "Numbers Point to Choppy Waters for Midmarket M&A"
url: https://burnaze.com/article/e7617a14-c17b-4933-a35e-feac6ad9cfd0
source: "Middle Market Growth"
original_url: https://middlemarketgrowth.org/growthtv-forvis-gf-data-q4-2025/
author: "Carolyn Vallejo"
category: "Finance"
topics: ["Finance & M&A"]
published: 2026-04-24T13:00:39.000Z
modified: 2026-11-01T22:32:16.041Z
image: https://middlemarketgrowth.org/wp-content/uploads/2026/04/growthtv-forvis-gf-data-q4-2025.jpeg
---

# Numbers Point to Choppy Waters for Midmarket M&A

**TL;DR:** The latest data on middle-market private equity transactions indicates continued volatility and mixed signals for M&A activity. Experts from GF Data, ACG, and Forvis Mazars reflect on the final numbers from 2025 and their implications for the next fiscal year.

*By Carolyn Vallejo, originally published in Middle Market Growth on 2026-04-24. [Read the original](https://middlemarketgrowth.org/growthtv-forvis-gf-data-q4-2025/).*

## Story

“Mixed signals” has been the phrase of choice for the past few years when it comes to the private equity-backed middle-market transactions GF Data tracks. GF Data and ACG’s Bob Dunn and Forvis Mazars’ Scott Linch are back to reflect on the final numbers from 2025 and what it means for the year ahead. This episode is brought to you by Forvis Mazars , a leading global professional services network.

## Entities

- private equity (topic)
- Finance (sector)
- Middle Market Growth (publication)
- Carolyn Vallejo (person)
- GF Data (company)
- Association for Corporate Growth (company)
- Forvis Mazars (company)
- Bob Dunn (person)
- Scott Linch (person)
- midmarket ma (topic)
- transaction volatility (topic)

---
Originally reported by Carolyn Vallejo, Middle Market Growth (https://middlemarketgrowth.org/growthtv-forvis-gf-data-q4-2025/). Summarized by Burnaze (https://burnaze.com/article/e7617a14-c17b-4933-a35e-feac6ad9cfd0).