Preface

The Global Mid-Market Private Equities¹ report for the first half of 2026 analyzes the market trends in Private Equity (PE) Merger & Acquisition (M&A) deals, in the Mid-Market, through H1 2026. A publication of Altius², the report highlights how PE deals and operations teams differentiate themselves from their peers to generate higher returns through operational excellence. The report analyzes different Mid-Market (MM) sub-segments by region, fund-type, industry segment and deal economics.

H1 2026 Mid-Market Deals at a Glance

Conclusion

H1 2026 paints a selective, but strong, PE Mid-Market landscape. In the past few years there has been a significant uptick in deal volumes, as well as average deal sizes.
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H1 2026, in particular, recorded the highest average Mid-Market deal sizes in the past 3 years, demonstrating the strength and resilience of the PE Mid-Market.

AI continues to be the key differentiator for successful firms. Beyond having AI capabilities, a firm’s AI readiness and implementation are crucial to their success. Investors look for ways to directly utilize AI in the entire dealmaking cycle, from due diligence to exit preparation. The speed and analytical abilities that AI provides allow sponsors to make quicker decisions, evaluate multiple strategies and mitigate risks better. With significant global growth in deal volume and strong trends in leading industries, it remains to be seen how sustainable these growth trends are in the second half of the year.

Notes

      ¹ Globally, the Mid-Market segment is categorized based on annual revenue of portfolio companies, with three distinct tiers. The Lower Mid-Market (LMM) is companies with revenues between $25 million to $100 million.  The Core Mid-Market (MM) ranges from $100 million to $500 million, and Upper Mid-Market (UMM) ranges from $500 million to $2 billion.

      ² Altius is a Mid-Market private equity advisory firm, with offices in US, UK and India. Established in 2019, the firm focuses on funds and Mid-Market portfolio companies globally, working with deals and operations teams to deliver EBITDA.