Welcome to our M&A market insight – September 2026

Somehow we are in September and Q4 is fast approaching. We often see an uptick in activity in the M&A space around now, with businesses keen to get things closed before the new year, or started so they can complete in Q1/Q2 next year.

The year to date has been busy, with a significant increase from 2025. With sell-side requirements surging, it’s been interesting to see buy-and-build activity primarily focusing on either AI/ AI-enabled or AI-defensible services, typically blue collar. Great to see Fire & Security, Facilities Management and Testing, Inspection & Certification businesses getting the attention they deserve.

For sell side, a common theme, and one I’ve been talking about for many years, is exit/sell-side support. In fact, 18 of our last 25 interim M&A appointments have been sell-side support, and with scrutiny on assets and fast-developing AI tools, the pressure is on sellers to get it right.

Typically we see three situations where we support exits:

• Long-range – 18-month projects where initial support may be fractional, providing strategic input and building up to full time as the process evolves
• Mid-range – prepping for vendor due diligence (VDD), then managing through the buyer’s DD and completion process
• Short-range – post-VDD, managing the buyer’s DD and taking it through to completion

Key takeaways are nearly always the same:

• Having somebody with ‘exit’ as the only thing on their desk is critical in many situations. ‘Side of desk’ inevitably leads to delays and balls being dropped.
• The earlier that person can be in place, the better. We hear so many times from both clients and interims: “we wish we’d done this six months earlier”.
• Getting ahead of the sale process means the seller can drive the DD process, rather than the buyer. Critical in maximising the value of the asset.
• Pulling acquired businesses together and building a ‘whole’ is critical to maximising value, especially for services businesses, and the earlier that can be addressed the better.

Value creation through the lifecycle of an investment often comes from successful integration of acquired businesses. I asked our Consulting Partner for Integration, David Boyd, for his thoughts on this:

If the last few years have taught us anything, it’s to expect the unexpected. But I do feel the momentum in M&A will continue to build through Q4 and into 2027.

We would be delighted to discuss any of the above in relation to upcoming transactions you may have on the horizon, buy-side or sell-side, so please don’t hesitate to get in touch.

Best wishes,
Steve Clarke
Partner – CFO, Finance, M&A/Corporate Development & Strategy