2026: The Breakout Year for Middle-Market Acquisitions

byGordon Bizar
on2026-01-21

Message from NDFC

Momentum at National Diversified Funding Corporation comes from working together toward a common goal.

In partnership with our PIBA partners, we continue to identify opportunities, execute with discipline, and build for the long term. This newsletter reflects the steady progress behind those efforts.

Deal Pipeline Activity — Past 30 Days

• Screening: 3
• Pre-LBO Review: 2
• LBO Analysis: 4
• IOI Submitted: 5
• LOI or IOI Drafting: 1
• LOI Submitted: 2
• IOI or LOI Revisions Pending: 0
• Paused – Info Pending: 15
• Rejected: 12

Industry Focus — Past 30 Days

• Construction and Heavy Contracting: 15
• Collectables: 2
• Manufacturing: 3
• Medical: 5
• Oil and Gas: 3
• Business Services: 2
• Retail: 1

Deal Spotlights

We have signed LOI's with 2 companies in the Oil and Gas industry, and we have started our due diligence process on those deals.

Company #1 is a $40 million dollar deal with EBITDA OF $7.7 million dollars.

Company #2 is a $62 million dollar deal with EBITDA of $13.4 million dollars.

2026: The Breakout Year for PIBA Gold Partners

2026 is shaping up to be an exceptional year, not just for NDFC, but for every constituency we serve.

For PIBA Gold partners, it's the year when access, capital, and execution align into a true unfair advantage, expanding what you can buy, accelerating how fast you can close, and strengthening how confidently you can scale.

For sellers, it's the year they meet a new caliber of buyer, partners who bring more than interest. They bring the ability to perform and the resources to grow what they've built.

For capital partners, it's the year disciplined capital connects with engineered opportunity… structured intelligently, deployed selectively, and supported by strong execution.

This is momentum powered by capability and commitment.

It's what happens when years of deliberate strategy mature into capability—and that capability hits the market at full strength.

How PIBA Gold Partners Win in 2026

Let's start with what matters most to you.

In 2026, PIBA Gold partners win by:

• Accessing better companies—not just more deal flow
• Competing for higher-quality businesses that require meaningful equity
• Closing with certainty — speed, credibility, and clean execution
• Building acquisitions for real scale — not fragile, thinly-capitalized structures

That last point is the separator.

The market is no longer rewarding "clever" deals that depend on razor-thin capitalization. Sellers — and the brokers who represent them — are increasingly choosing buyers who can close cleanly, fund properly, and grow responsibly.

That's now our lane — and it's exactly where PIBA Gold partners thrive.

Capital That Actually Closes Deals

One of the most consequential developments heading into 2026 is the formation of the NDFC Capital Partners Fund, registered to raise $150 million.

This fund was designed with one primary purpose:

to remove capital constraints as a limiting factor in PIBA Gold acquisitions.

We have engaged SS&C Technologies, one of the most respected fund administrators in the country, ensuring institutional-grade administration, reporting, and controls from day one.

In addition, we are finalizing agreements with two outstanding fund placement firms who are genuinely excited about our strategy and pipeline. Formal fundraising activities are expected to launch in late February or early March.

What this means for PIBA Gold partners is straightforward:

• We can now pursue larger, higher-quality companies
• We can close deals that require substantial equity investment
• We can structure transactions from a position of strength, not compromise

This is a material upgrade to your acquisition firepower.

Sellers Win—Which Means You Win

Sellers don't just want the highest price. Increasingly, they want:

• Certainty of close
• Respect for what they've built
• A buyer who won't break the business post-sale

In 2026, NDFC-backed PIBA Gold partners present as exactly that buyer.

We now bring:

• Credible capital
• Thoughtful structures
• A demonstrated ability to grow businesses post-acquisition

That combination wins deals—especially with sellers who care about legacy, continuity, and upside.

Expanding the Buyer Ecosystem: The Rise of the HENRYs

In 2026, we're putting focused energy into attracting HENRYs (High Earners, Not Rich Yet) as a premier source of qualified new PIBA Gold partners—expanding the ecosystem in ways that directly strengthen deal flow, capital access, and outcomes for existing partners.

These are professionals and executives who:

• Earn substantial incomes
• Recognize income alone does not create wealth
• Are actively seeking a transition from earner to owner

This effort does two important things:

• It expands the pool of qualified, motivated buyers
• It reinforces NDFC's position as the premier Business Acquisition Platform for serious buyers

Why This All Works

None of this is accidental.

The reason 2026 looks so strong is because each element has been intentionally architected to reinforce the others:

• Capital enables better deals
• Better deals attract better sellers
• Better sellers attract better buyers
• Better buyers attract more capital

That flywheel is now in motion.

Thought Leadership as a Force Multiplier

My book is now written and entering final editing, with publication targeted for March or April.

This is not just a book launch—it is a coordinated market event.

The release will be aligned with:

• Outreach to business owners considering a sale
• Education and engagement of capital partners
• Attraction of new PIBA Gold partners

In short, it amplifies everything we are already doing—at exactly the right moment.

The Bottom Line

"For PIBA Gold partners, 2026 is not about waiting for conditions to improve.

The conditions are here.
The infrastructure is in place.
The capital is coming online. The market is offering opportunity.

Our focus now is execution— deal by deal, partner by partner.

This is the year where preparation pays off.
And you're in on the win."

Gordon Bizar
CEO, National Diversified Funding Corporation

Partner Edge™ – Cosmic Bond™ Tip: Storytelling That Connects

Why It Matters

Sellers don't just evaluate your offer—they evaluate you. Long before a letter of intent, they are quietly asking one question: Can I trust this person with what I've built?

The way you share your own story plays a powerful role in answering that question.

The Insight

Effective storytelling isn't about impressing the seller or listing credentials. It's about creating relatability and reassurance. When done well, your story signals competence, humility, and alignment—without ever shifting the spotlight away from the seller's achievement.

How to Apply It

• Lead with purpose, not résumé. Share why you do what you do before what you've done. Purpose builds connection faster than accomplishments.
• Keep it brief and intentional. Your story should open doors, not dominate the conversation. Think minutes, not monologues.
• Highlight stewardship moments. Reference experience where you protected teams, honored founders, or grew businesses responsibly. These moments resonate deeply with sellers.
• Return the focus to them. End your story by inviting theirs: "I'd love to hear how this business began for you."

What Sellers Feel When You Get This Right

They feel seen, respected, and reassured. Your story becomes proof—not of ego—but of capability and care. It quietly reinforces the idea that their legacy will be understood and safeguarded.

The Cosmic Bond™ Takeaway

Storytelling that connects is never about standing taller than the seller. It's about standing beside them—showing you understand the weight of what they've built and the responsibility of what comes next.

Market Outlook

2026 is shaping up to be a builder's market for middle-market acquisitions.

Market activity is accelerating as more quality businesses come to market, financing becomes more dependable, and buyer-seller expectations move into closer alignment. That combination creates a window where disciplined buyers can acquire well—before competition and pricing fully catch up.

For our PIBA partners, this means access to quality companies before competition and pricing fully accelerate. Sellers are increasingly motivated by certainty and alignment—not just headline price—which favors buyers who lead with credibility, clarity, and the ability to perform.

Financing is also becoming more reliable. Private credit remains active, and transactions with strong fundamentals are closing. Capital is structured thoughtfully rather than aggressively—reducing execution risk and increasing closing certainty.

Strategically, 2026 favors platform acquisitions and buy-and-build strategies. Fragmented industries, add-on opportunities, and operational improvements are driving value creation.

This allows partners to participate in compounding growth over time rather than relying solely on market timing.

Looking Ahead

Our deal pipeline is robust. We are currently in the IOI stage for numerous companies across various industries (demolition, sports trading cards, gutter manufacturing, dirt moving, electrical contracting, medical staffing, and a back office medical lab company).

We are anticipating 2-3 more signed LOI's over the next few weeks.

Acquisition Pipeline Update — BOA Addendum

Headed Your Way and Questions

1. Full member BOA meetings will be held quarterly going forward.
2. The BOA Subcommittee will be having monthly meetings, and they will be having individual discussions with the key NDFC PIBA team members.
3. We are still looking to add an additional BOA member with expertise in the construction industry. If you know anyone who would be a good fit for us, we would appreciate a referral.