The New Playbook for Data-led Dealmaking

How are today’s dealmakers using data and AI to source deals, conduct diligence, evaluate targets, manage risk, and create value? In this M&A Ideas session, veteran practitioners from private equity, investment banking, and corporate development discuss how technology is changing the dealmaking process—and where human judgment and relationships remain essential. The conversation covers the current M&A environment, valuation trends, private equity activity, AI-driven deal sourcing, buy-and-build strategies, investigative due diligence, financing challenges, and the growing importance of AI strategy when evaluating potential acquisitions. **Presented in partnership with S&P Global Market Intelligence** This episode features insights from Jeffrey Johnson of Blackford Capital, Euan Rellie of BDA Partners, and Nigel Raghani of Vertex, Inc. with Joe Toomey of S&P Global Market Intelligence moderating. A practical look at how data-led dealmaking is reshaping the way M&A professionals find opportunities, assess risk, and execute transactions. **Listen to the M&A Advisor Podcast:** Spotify |  Apple Podcasts |  YouTube **Moderator:** Joe Toomey, S&P Global Market Intelligence **Panelists:** Jeffrey Johnson — Blackford Capital; Euan Rellie — BDA Partners; Nigel Raghani — Vertex, Inc. **01:00 — Welcome to M&A Ideas:** An introduction to the data-led dealmaking discussion and the changing M&A environment. **10:58 — What will drive M&A activity higher?:** The panel considers macroeconomic stability, financing conditions, CEO confidence, policy, and valuation. **12:24 — The 2026 M&A landscape:** Global deal values, transaction volumes, and the divergence between deal value and deal count. **16:18 — AI enters the dealmaking process:** How investment banks and private equity firms are using AI for deal sourcing, research, and analysis. **18:30 — Why deal volume remains challenged:** Discussion of valuation stability, lower transaction volume, financing constraints, and buy-and-build strategies. **21:09 — AI and software M&A:** The impact of AI on enterprise software valuations, acquisitions, and corporate development strategies. **25:20 — Finding data in the lower middle market:** How AI and alternative data sources are helping smaller private equity firms compete where traditional public data can be limited. **29:08 — Relationships + data-driven sourcing:** Why conviction-driven sourcing strategies and relationships with founders, operators, bankers, and business brokers remain critical. **32:25 — AI is a tool, not a replacement for relationships:** Balancing technology with the human side of M&A. **36:38 — The hidden risks uncovered during diligence:** Customer concentration, founder motivations, retention metrics, pricing dynamics, and other non-obvious deal considerations. **39:40 — The value of vendor due diligence:** How financial, commercial, environmental, HR, and IT diligence can improve deal speed and certainty. **45:16 — Financing in an uncertain environment:** How conservative credit committees and changing capital structures are affecting transactions. **Key Takeaways:** - Data is becoming increasingly important throughout the M&A lifecycle. - AI is helping dealmakers source opportunities and accelerate research and diligence. - Relationships remain a critical component of successful dealmaking. - Buy-and-build strategies are playing an important role in the current market. - Thorough diligence can uncover risks that headline financial metrics may not reveal. - Buyers are increasingly evaluating both the AI potential and AI vulnerability of target companies. - Technology can accelerate the process, but it does not replace fundamental analysis or human judgment. **Faculty Speakers:** - Jeffrey Johnson, Managing Director, Blackford Capital - Euan Rellie, Co-Founder and Managing Partner, BDA Partners - Nigel Rughani, Vice President of Corporate Development, Vertex Inc. - Joe Toomey (**MODERATOR**), Director, Professional Service Business Development, Data and Research Solutions, S&P Global Market Intelligence