Doing Deals In Times Of Turbulence

Summary

The global M&A market is showing renewed momentum after a cautious start to the year. Despite persistent uncertainty — trade negotiations, regulatory headwinds and geopolitical tensions — market sentiment has improved thanks to stabilising macro conditions and clearer trade outlooks. The article argues the moment is right for companies and private equity to act: there is record dry powder waiting to be deployed, and historically acquisitions made in slower markets deliver stronger shareholder returns.

Companies that win at M&A maintain an “always-on” posture: continual portfolio review, proactive target engagement and ready playbooks for diligence and integration. Technology, particularly AI, is speeding early-stage work such as target identification and market landscaping, freeing deal teams to focus on strategy and integration. Increased regulatory scrutiny means compliance must be embedded early in deal planning.

The piece highlights strategic opportunity areas — jumping tariffs via local investment, in-country consolidation, joint ventures for capital-intensive tech (eg EVs) and acquisitions that bolster supply-chain resilience — and sets out four immediate actions leaders should take to capitalise on the environment.

Key Points

M&A activity is picking up; record levels of capital (dry powder) are available to acquirers.
Purchases made in slower markets often produce higher total shareholder returns than deals made in overheated markets.
An “always-on” M&A capability — continuous scouting, playbooks and scenario testing — allows faster, better execution when opportunities arise.
AI is accelerating early-stage deal processes (market mapping, target ID), increasing speed and efficiency without replacing expert judgement.
Regulatory scrutiny is rising; compliance must be integrated early into deal strategy and throughout integration.
Key strategic plays today: local production to avoid tariffs, regional consolidation, joint ventures for shared risk in capital-intensive tech, and acquisitions to strengthen supply-chain resilience.
Four actions for leaders: optimise portfolios, build M&A capabilities, ensure balance-sheet readiness, and align leadership and the board for swift decision-making.

Why should I read this?

Because if you’re waiting for perfect clarity you’ll miss the sweet spots. This is a fast, practical read that tells you why now matters, where to look for deals that actually move the needle, and what to tighten up inside your business so you can pounce. Short, sharp and useful — ideal if you want to act instead of react.

Context and Relevance

For CEOs, CFOs and deal teams, the article is timely: capital markets are shifting from hesitation to selective activity, and those prepared to move will face less competition and better valuations. The piece ties into broader trends — reshoring/local investment to manage tariffs, consolidation to protect domestic supply, partnerships for tech-heavy bets, and the growing role of AI in deal discovery. It’s especially relevant for organisations with strategic gaps in manufacturing, technology or supply chains and for private equity sitting on capital looking for higher-return opportunities.

Author

Daniel Friedman (managing director, senior partner at BCG) — punchy, experienced advice from the head of M&A and PMI for North America. The piece reads like a playbook: it’s short on fluff and focused on concrete actions leaders can take now.

Source

Source: https://chiefexecutive.net/doing-deals-in-times-of-turbulence/