Let's Talk about the Economy ...

As we move through 2025, uncertainty isn’t just a backdrop — it’s the headline. From Trump’s political resurgence and post-election recalibrations to volatility in rates and risk appetite, the dealmaking environment is in a temporary stasis. Yet, what feels like a lull is more akin to a slingshot being drawn back.

Despite hesitation in the boardrooms, macro indicators remain robust across several developed economies. This isn’t a downturn — it’s a wait-and-see window, where capital remains abundant, and strategic ambitions are merely on pause. Investors are searching for conviction triggers, not running for cover.

M&A activity echoes early-pandemic behavior: strategic stillness, but not silence. And history tells us what often follows — a wave of decisive, accelerated moves. As the ceiling on organic growth approaches, inorganic plays — consolidation, carve-outs, and transformative tie-ups — will define the next phase.

The ground is shifting, but not crumbling. In today’s climate, those who remain poised rather than panicked will find themselves ahead. The smart money isn’t retreating — it’s repositioning. When the spring uncoils, those ready to move fast will win.

So buckle up. This cycle may not roar in like a lion, but the next surge in M&A could come with a thunderous gallop.