Mergers and acquisitions by blue-chip companies make the headlines, but the smaller deals have become extremely important to the survival of small and medium-size firms that cannot find successors to run the business.
With the baby boomer population ready to retire, there are fears that retiring business owners with no one to take over from them will be forced to shut down their companies, which will have a major economic impact on their communities.
M&As are a way to stop that from happening.