Contact

Nolan Gutenschwager is a Vice President in PMCF’s Industrials team and has more than five years of experience working with middle market clients. Nolan is responsible for providing transaction support for sell side, buy side, and capital raising services, focusing on financial and strategic analysis, valuation, industry research, due diligence, and the preparation of client marketing materials.​

Prior to joining PMCF full-time, Nolan worked as a Summer Analyst at Calder Capital. He earned a BA in finance from the Eli Broad College of Business at Michigan State University, graduating with high honors. He is a licensed securities representative holding his Series 82 and 63 registrations.​

Publications

U.S. Industrial Manufacturing M&A activity accelerated meaningfully in Q1-26, with 113 announced transactions.

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U.S. distribution M&A activity remained relatively stable in Q1-26, with 78 announced transactions compared to 82 in the prior-year period, reflecting a resilient domestic backdrop despite a somewhat uneven macroeconomic environment.

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Q4 2025 – QUARTERLY M&A MARKET RECAP U.S. Industrial Manufacturing M&A activity stabilized in Q4 2025, with 81 announced transactions. While Q4 deal volume declined 22.1% year over year, this represented an improvement from Q3 2025’s 77 announced transactions. Compared to Q1 2025, Q4 activity increased 14.1%, signaling a gradual recovery toward more normalized deal…

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Q4 2025 reflected lower transaction volumes alongside sustained strategic engagement. Global distribution M&A activity declined 36% year over year during the quarter, with U.S. volumes exhibiting a similar contraction.

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In Q3-25, the market saw 138 Distribution transactions close worldwide.

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