Private Equity’s M&A Wishlist: Florida and the Southeastern Corridor

1. The Macro Backdrop: Capital Still Seeking a Home 📈

Private equity will enter 2026 with more than $3 trillion in undeployed capital, even as market conditions remain paradoxical. Interest rates are elevated, public markets are volatile, and global uncertainty has curtailed mega-deal appetite. Yet limited partners are pressing for performance, making liquidity anything but patient.

This tension is channeling capital into the lower middle market — companies with $3M–$15M of EBITDA that combine rational valuations with fragmentation and operational upside. These businesses represent the balance of scalability and stability investors are seeking.

Florida has become a focal point of this recalibration. With rapid population inflows, a favorable tax environment, and industry breadth from healthcare to logistics, the state is increasingly viewed as one of the most attractive lower middle market environments in the country. For investors under pressure to deploy, Florida is no longer peripheral — it is central.

2. Demographic Gravity: Why Florida Draws Buyers 🌴

Private equity’s interest in Florida is not just about sunshine and retirement demographics. The state has engineered the fundamentals that make it a durable market for capital deployment.

Population & Wealth Migration: Florida consistently ranks at the top for inbound migration, drawing retirees, entrepreneurs, and executives from higher-tax states. Miami, Tampa, Orlando, and Jacksonville are expanding rapidly, fueling consumption and demand for healthcare, housing, and services.

Tax & Business Climate: With no state income tax, favorable estate tax treatment, and pro-business policies, Florida has positioned itself as one of the most entrepreneur-friendly states in the nation.

Industry Breadth: Florida’s economy is deeply diversified. Miami anchors finance, real estate, and international trade. Tampa and Orlando provide healthcare, logistics, and aerospace strength. Jacksonville adds shipping, distribution, and defense contracting. Across the state, healthcare services, logistics, and construction-adjacent industries provide fertile ground for roll-ups.

Succession Dynamics: Like its peers across the Sun Belt, Florida’s middle market remains heavily founder- and family-owned. As Baby Boomers exit, the pipeline of succession-driven sellers expands steadily, creating consistent opportunities for private equity entry.

Together, these dynamics make Florida one of the most compelling growth markets for institutional capital.

3. What PE Wants in 2026: The Buy-Side Checklist 🔍

Private equity buyers are consistent in their evaluation framework. In Florida, these priorities intersect directly with the state’s strengths:

🔄 A. Recurring Revenue & Predictability
Contracted revenues and recurring demand are critical. Examples include managed care providers in Tampa, subscription-based compliance services in Miami, and logistics operators with long-term port contracts in Jacksonville.

💰 B. Margin Defensibility
Businesses with EBITDA margins exceeding 20% are commanding premium valuations. Specialty healthcare practices, distribution businesses with pricing power, and renewable energy developers in Florida fit this profile.

🧩 C. Platform Potential
Florida offers fragmented industries ripe for consolidation. Dental practices, home health, fire & safety services, and niche construction all provide anchor opportunities for roll-up strategies.

👥 D. Leadership Continuity
Founders willing to retain minority stakes or executives capable of scaling are valued highly. Florida’s depth of talent, particularly in healthcare and logistics, ensures continuity in leadership post-transaction.

⚖️ E. Growth Story Alignment
Investors underwrite forward growth, not history alone. A logistics operator expanding nationally from Florida’s ports, a healthcare platform broadening specialty lines, or a consumer brand leveraging Florida’s e-commerce infrastructure all create compelling growth stories.

For Florida sellers, aligning their company to these investor priorities is essential for attracting premium buyers.

4. From Brokers to Bankers: How William & Wall Reshaped Florida M&A 💼

Historically, many Florida founders pursued liquidity through local brokers or piecemeal processes led by attorneys and accountants. These approaches often lacked the buyer reach and valuation defense needed to maximize outcomes.

William & Wall has reshaped the landscape by introducing institutional-grade advisory discipline into Florida’s middle market:

• Vectorized Buyer Ecosystem: Mapping thousands of private equity funds, family offices, and strategics with appetite for Florida industries.

• Competitive Auction Engineering: Designing sale processes that create competitive tension, ensuring sellers aren’t dependent on a single bidder.

• Excruciating Valuation Analysis: Deploying Wall Street methodologies to benchmark, defend, and expand enterprise value.

• Florida M&A Insights: Publishing data-rich perspectives on deal activity, valuations, and buyer interest to support advisors, CPAs, and owners statewide.

The result is a step-change: Florida founders now access the same institutional processes their peers in New York or California have long relied on, while leveraging local market advantages.

5. Preparing for 2026: Founder To-Do List 📝

For Florida business owners contemplating a sale in the next 12–24 months, preparation is the differentiator. Steps include:

• Audit Financials: Commission a sell-side QoE to validate reporting and minimize diligence risks.

• Codify Revenue Composition: Present customer and service-line breakdowns transparently, with mitigation strategies for concentration.

• Clarify Ownership & Governance: Streamline capitalization tables, document agreements, and establish clear succession plans.

• Craft a Growth Thesis: Position the company as a platform — e.g., a healthcare group scaling across the Southeast, or a logistics operator expanding nationally.

• Select the Right Advisor: Avoid underselling through broker-led processes. Partner with an investment banker capable of competitive auctions and institutional buyer outreach.

The cost of incomplete preparation is measured not only in valuation, but in legacy preservation.

6. Conclusion: The 2026 Window 🚪

Private equity’s wishlist for 2026 remains clear: recurring revenue, margin defensibility, platform potential, leadership continuity, and credible growth narratives. Florida delivers on all five, with demographic inflows, tax advantages, and industry breadth making it one of the nation’s most attractive middle market environments.

At William & Wall, we ensure Florida founders don’t just participate in this cycle — they command it. Our role is to align Wall Street expertise with Florida’s local realities, delivering premium valuations, favorable terms, and safeguarded legacies.

💡 Thinking about selling? Let’s talk. Florida’s M&A ecosystem is evolving rapidly, and the advantage belongs to those who prepare. Contact William & Wall, Florida’s trusted M&A advisory experts, to explore your business sale. With $30B+ in Wall Street transaction experience and a nationwide network of private equity, family offices, and strategic buyers, we help middle-market owners maximize value, protect legacy, and achieve premium outcomes.

William & Wall is a Scottsdale-based boutique investment bank advising business owners across Florida and the broader Southeast. With institutional-grade sell-side M&A advisory, rigorous valuation expertise, and engineered auction processes, we elevate Florida companies to the national stage while safeguarding founder legacies.