As Tampa Bay moves toward 2026, mergers and acquisitions activity across the region continues to gain momentum, particularly in the middle market.
Strong population growth, a resilient local economy and a business-friendly environment continue to attract both strategic and financial buyers.
At the same time, a growing number of founder-led companies are approaching succession decisions.
By some estimates, 60% of small to midsize businesses will sell all or part of their companies over the next 10 years.
While national and global M&A markets have experienced periods of slowdown tied to higher interest rates and inflation, Tampa Bay has remained active.
Deal flow has held steady and buyer interest continues to outpace expectations.
Where deals are concentrating
Several industries have emerged as consistent centers of transaction activity across the region.
Construction and home services
Tampa Bay’s sustained growth has driven strong demand across construction and home services.
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Companies in HVAC, plumbing, electrical contracting and general construction continue to attract premium valuations.
Buyers include national operators and private equity platforms seeking scale through regional and national expansion.
Technology and IT services
The region’s expanding technology footprint has fueled consolidation among firms specializing in cloud services, cybersecurity and data analytics.
Strategic buyers are pursuing niche capabilities and experienced teams as demand for digital transformation remains a core business priority.
Healthcare and medical services
Florida’s demographic trends continue to support dealmaking in healthcare and senior services.
Activity spans private equity backed rollups of physician practices and dental groups, acquisitions of specialized clinics and investments in health IT.
Scale, operational efficiency and consistent demand remain the primary drivers.
Professional and business services
Professional services firms, including accounting, engineering and consulting practices, are seeing steady acquisition interest.
Engineering and consulting firms, in particular, continue to consolidate as they expand their service offerings and geographic reach.
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Access to specialized expertise and established talent pools remains central to buyer strategy.
The role of private equity
Private equity remains a significant force behind Tampa Bay’s sustained M&A volume.
The region is home to active private equity firms and family offices and continues to attract capital from national and international investors.
Much of this activity is focused on the middle market, typically companies with enterprise values between $10 million and $500 million.
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A common strategy involves acquiring a strong local platform company and accelerating growth through add-on acquisitions.
This approach allows buyers to build scale, realize operational synergies and position businesses for higher value exits over time.
Navigating deal headwinds
Despite strong activity, dealmaking remains sensitive to broader economic conditions.
Higher interest rates have increased scrutiny around financing costs and valuation assumptions. In response, deal structures have evolved.
Earn-outs are being used more frequently to bridge pricing gaps, tying a portion of the purchase price to future performance.
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Due diligence expectations have also intensified. Inflation has sharpened buyer focus on cost controls, margins and operational discipline.
For sellers, preparation and financial transparency are increasingly critical to achieving premium outcomes.
Outlook
The outlook for Tampa Bay M&A remains constructive.
Population growth, economic diversification and a steady pipeline of founder-led middle market companies continue to support deal activity.
Strong private equity interest, combined with succession-driven exits, suggests transaction volume is likely to remain elevated as the region moves into 2026.
By John Acosta, Tampa Bay Market President, Synovus Bank.