Steve Pierson, managing partner at middle-market private equity firm Lovell Minnick Partners, said small companies were more open to deals this year because the coronavirus crisis stressed their balance sheets and tested their business plans. “Think about March and April, everyone was pretty nervous about the state of the world,” Pierson said. “If you don’t know what’s going to happen over the coming months, it’s logical to turn to an existing relationship.”
“In times of stress, small companies are frequently more willing to sell,” Steve Pierson, Managing Partner at Lovell Minnick, said in an interview. “During the pandemic, we observed that smaller companies have become more attracted to being acquired by larger companies with more scale as a way to mitigate risk in an uncertain world.”
