M&A Activity Accelerates, November saw three major aerospace and defense transactions signaling strong confidence in the sector and continued portfolio realignment, TriMas Corporation, agreed to sell its aerospace fasteners and components division for $145 billion to an affiliate of Tinicum LP with Blackstone funds as minority investor The deal valued  at ~18x EBITDA follows activist pressure from Barington and reflects TriMas’ strategy to focus on its core packaging business, Arcline Investment Management, will acquire Novaria Group from KKR for $22 billion Novaria which tripled in size under KKR through ~13 add-ons specializes in aerospace fasteners and components This move along with Arcline’s $18 billion purchase of Kaman’s aerospace unit in 2024 underscores private equity’s confidence in aerospace supply chains, Parker-Hannifin Corporation, announced a $925 billion acquisition of Filtration Group Corporation (a Madison Industries company gaining a business with $2 billion in sales—85% from high-margin aftermarket revenues At ~196x EBITDA (~134x adjusted the deal highlights strategic buyers’ willingness to pay premiums for proprietary technology and recurring revenue streams, Common Thread, Each deal reflects a reshaping of portfolios in pursuit of long-term growth Corporates are refocusing on core businesses private equity is scaling niche platforms and strategics are targeting high-recurring-revenue segments The result a robust middle-market A&D M&A environment fueled by secular aerospace growth and strong valuations Continue reading      

November marked a meaningful step-up in sector activity with deal flow improving and several larger transactions returning to market Despite a softer consumer backdrop buyers continued to deploy capital into high quality defensible concepts across food beverage agribusiness and restaurants reinforcing that market confidence remains ahead of consumer sentiment Continue reading

By using a directed trust you can separate the role of corporate trustee and wealth advisor, We welcome the opportunity to meet with you and your legal advisor to talk about how you can establish a continuity of wealth advice and guidance from generation to generation while still providing the expertise of a corporate trustee This is permitted due to the Illinois Directed Trust Statute (760 ILCS 163 AND 167 Prior to 2013 if a corporate trustee was named in your estate plan the named…, Why name a corporate trustee, The job of a trustee is crucial and can be complex Choosing the right individual or entity is important Being a trustee can be a full time job You may want to consider naming a corporate trustee Below are some of the reasons why a corporate trustee could be an appropriate solution for you Ability to identify potential problems that a nonprofessional may overlook Unbiased towards family members…, Clients and their families value the continuity of our guidance, Mesirow Wealth Management is committed to seeing that your financial plans are carried out as you wish now and into the future For more information about how we can be of service to you and your family please speak with your wealth advisor, Published February 2025, Mesirow  does not provide legal or tax advice Please discuss any decisions with respect to trusts with your attorney and/or advisor

Private debt market update September was the worst month in recent history for the loan market as lenders continue to struggle with inflation and uncertainty Commentary Broadly syndicated leveraged loans lost 227% in September their worst performance since the Great Recession Some of this is simply fear-driven trading volatility that will have less of an effect on the private markets but it is…

The food beverage and agribusiness M&A market has remained robust despite ongoing economic challenges and pre-election uncertainties October deal activity implies the market is on track with 2022 levels in terms of number of deals Dollar volume in 2024 has notably outpaced 2023 levels driven by the resurgence of mega-deals  Activity has been particularly strong in beverages foodservice…

MOMENTUM IN AEROSPACE IPOs, After years of relying on SPACs and private funding the aerospace and space technology sectors are seeing a resurgence in traditional IPO activity In 2025 several high-profile listings have signaled renewed investor appetite and confidence in the industry’s long-term growth, WHAT THIS MEANS FOR THE MARKET, Renewed Appetite, | Investors are re-engaging with capital-intensive high-growth aerospace and defense businesses particularly those tied to government contracts military capabilities and lunar exploration, Valuation Benchmarks, | IPOs like Firefly and Voyager provide critical indicators for how markets are pricing innovation execution risk and long-term potential, IPO as a Viable Exit, | Recent listings underscore the IPO’s return as a credible path for aerospace firms offering liquidity for investors growth capital and market validation We believe this will continue to put upward pressure on valuations in hotly contested M&A auction processes, Looking Ahead, | With additional firms eyeing the public markets – including possible defense conglomerates – 2025 could mark the beginning of a broader reawakening in aerospace IPOs Continue reading

October marked a constructive month for food beverage and agribusiness M&A While macro conditions remained mixed underwriting confidence improved across several defensible verticals This came even as consumer sentiment declined for the third consecutive month highlighting the resilience of essential categories and the willingness of buyers to lean into assets with more predictable demand…

Olivia Liu is an Associate Consultant in Mesirow Fiduciary Solutions She provides extensive quantitative and qualitative investment research for the groups fiduciary partnership consulting institutional due diligence and other related engagements Prior to joining Mesirow in 2024 she worked as a Research Assistant evaluating economic pre-publication papers producing detailed reports and performing…

Omar Ghalloudi is a Senior Managing Director and Head of European Trading in Mesirow Institutional Sales and Trading He is an experienced credit trader with more than 20 years of expertise in investment-grade high-yield and distressed debt markets Omar has held significant roles at top financial institutions such as Bank of America Deutsche Bank and Citi where he successfully managed trading…