Breaking Loose: Inside DealMAX with Doug Brookman and Mike Alberts

The shape that M&A takes in the first quarter of 2026 will color the mood at DealMAX and what dealmakers are looking to accomplish as they hit the deal floor in April. Doug Brookman, managing director at Mesirow Investment Banking and this year’s DealMAX chair, and Mike Alberts, principal and head of business development at Cohere Capital and vice president of ACG Boston, join the podcast for the second episode of the 2026 Inside DealMAX series to share how they expect deal flow to shape up in the early months of the year, their tips as DealMAX veterans, underrated DealMAX offerings, and more.

Register today at dealmax.org to take advantage of the early registration rate, available until January 14.

A transcript of the podcast is available below.

Middle Market Growth: Welcome to the Middle Market Growth Conversations podcast, an ACG production, I’m Carolyn Vallejo. We’re back with another episode of our Inside DealMAX series, where we’re going behind the scenes with guests involved in ACG’s flagship conference for the middle market, taking place April 27th through the 29th at the ARIA in Las Vegas. Throughout this series, we’ll be exploring M&A trends, what you can expect on the ground at DealMAX, and networking tips from dealmakers and industry experts who will be there right when the doors open. Today we’re joined by Doug Brookman, managing director at Mesirow Investment Banking and our DealMAX committee chair, and Mike Alberts, principal and head of business development at Cohere Capital and vice president of ACG Boston. Doug and Mike, welcome to the podcast.

Mike Alberts: Thanks for having us.

Doug Brookman: Thank you.

MMG: We always like to start by getting to know our guests a little bit better. So, Doug, can you kick us off by telling us a bit about your current role at Mesirow and your involvement with DealMAX?

DB: Yeah, I’ve been with Mesirow now for about five years. Again, I’m a managing director here in the group, and I lead our financial sponsor coverage effort. I have been involved with DealMAX for the last few years and was asked, I guess, at the end of last year to chair the committee and chair the event, which I accepted and I’m very excited about.

MMG: We’re super excited about it as well. Mike, what about you? Can you share more about your work at Cohere and your history with DealMAX and ACG?

MA: Sure, absolutely. I’m principal and head of business development at Cohere Capital. We’re a Boston-based private equity firm. Been around since 2019 and I’ve been with the firm since day one. Day to day, I lead all of our new investment development, which means I get to spend all day talking to investment bankers and entrepreneurs and other intermediaries, which is a super fun job. And as you mentioned, I’m currently on the board of ACG Boston, and I serve as vice president of the chapter. In addition to being pretty involved in Boston, I attend a good chunk of the ACG events across the country and have been on a number of private equity slash investment banking deal source committees at a handful of other chapters. So excited to not only go to a bunch of ACG events next year, but certainly the flagship, DealMAX.

MMG: Yeah, absolutely. And you both are seasoned travelers, seasoned DealMAX attendees. So just for a bit of fun, I want each of you to share your favorite travel hack or conference hack. Mike, let’s start with you.

MA: Sure. Well, my favorite travel or conference hack is finding a way to set up a fitness meeting each day, whether that means going on a run with somebody, doing a fitness class, something, it really forces you to schedule a workout ahead of time. And when you get other people involved, not only is there accountability, but you get a little bit of a different relationship when you’re sweating with someone early in the morning.

MMG: That’s a great hack. A little bit of multitasking. I like it. Doug, what about you?

DB: One of the things that I like to try to do, and it’s not always possible, is not to overload myself when it comes to specifically to DealMAX. You easily can get bogged down in doing too many meetings, and then I feel like the quality of those meetings ends up deteriorating pretty rapidly. So, I really try to pick good quality meetings, but not overload myself during the event.

MMG: Pace yourself. That’s definitely a huge, huge thing to remember, especially at DealMAX. Well, I want to talk about the broader sentiment in dealmaking today and the kind of sentiment that we’re likely to see throughout the year. It’s a feeling that you can really sense in the air at DealMAX every time you walk through those doors, and it can change the mood, quite frankly, of the conference, whether people are feeling optimistic or not. So, I want to hear about some of the trends that you’re watching in the dealmaking space in these first few months of 2026. Doug, let’s start with you on this one.

DB: Well, I don’t think the sentiment can get any worse than what it was during 2025 DealMAX. I want to say that was either the day of Liberation Day or the days that followed Liberation Day and there were just a lot of people scratching their heads trying to figure out what was going to happen, if anything at all, and it kind of froze the environment at least during DealMAX, and then for the months directly thereafter. I personally believe and think that, you know, we’re in for a pretty big pickup in just overall deal volume, and I think sentiment is definitely picked up assuming that all things kind of remain status quo, whether it’s geopolitical or economic. There are just too many assets, especially in the private equity universe that need to come to market to trade. And if you talk to other sponsors and other bankers that are out there, everyone’s pipeline is as big as it’s ever been, and they’re waiting to launch deals right after the first of the year. And, you know, I know we’ve been hearing that for a few years now, but it really feels like things are going to break loose a bit and get a bit easier hopefully to get some deals done.

MMG: Okay. A bit of bullishness. We like to hear. Mike, what about you? Are you feeling the same optimism?

MA: Yeah, I’ll just echo everything that Doug just said. I think that this past year everything went on hold for a while, certainly at the beginning of the year, and then over the summer we saw some deal volume start to break loose, but I think people just got comfortable with the uncertainty and maybe got a little bit more comfortable with, you just can’t time the market right now. And so, everyone’s been sitting on the sidelines, like Doug said, there’s pretty healthy pipelines and also there’s a lot of private equity folks that have been waiting to exit assets. I’ll tell you this, there’s a lot of optimism going into 2026 and certainly into the first quarter. So, I’m really hoping that that’s going to come to fruition. I think if anything, people are going to will it to happen. So, I am expecting the vibe at DealMAX to be extremely positive and, and everyone will be really excited for hopefully a flood of deals.

MMG: A flood of deals. Excellent. Well, attendees for DealMAX this year will notice there are going to be a couple changes that we’re very excited about, and I’m curious to know if there are any maybe events or part of the programming or any of these new features that either of you is particularly excited about or looking forward to heading into DealMAX. Doug?

DB: Yeah, I mean, look, I obviously have been heavily involved with a few of the changes that one of which you’ll definitely see and feel and the other, you may or may not, but I’m very excited for the floor plan change that we have undertaken to bring everybody together across the deal source rooms. I think it’ll make it feel a bit warmer and I feel like you’ll maybe be able to interact with more people in easier fashion. I’m also excited to see how this new lender track that we’re implementing this year goes, there has been a concerted effort to try to bring additional folks and drive additional value for different groups within the ACG umbrella, and this year as a focus within that lender universe. So, bringing capital markets folks from both investment banks and private equity firms as well as lenders together to try to create their own deal source function, where historically it’s only been the investment bankers meeting with folks like Mike and Cohere Capital and then other private equity firms. We’re trying to expand that, and we’ve done that in the past with the strategic acquirers’ forum and bringing in some of the corporates. Now we’re trying to shift our focus a bit towards lenders and really bring people together kind of across the entire value chain of the deal universe.

MMG: Mike, what about you?

MA: Yeah, every year I leave DealMAX thinking, I’m not sure how it could get quite better than it is, but then you put people like Doug at the helm, and they do all those exciting changes like he just mentioned. I think this past year what I’ve heard the most from people is, what’s the deal with DealMAX? Is there an ACG event that I should go to? Is DealMAX the one? And I think that some of these changes every year just trying to make sure it’s inclusive for all the attendees and really valuable for all attendees. I know that’s not a specific feature, but I am excited about this upcoming year.

MMG: No, that makes a lot of sense, and part of the value that DealMAX really does bring to its attendees is, you know, there’s opportunity to network and to facilitate these really high value connections that are so central to the dealmaking world, of course. That really is at the heart of DealMAX. So, I’m curious about any tips or strategies you both can share for how attendees can approach those conversations, maybe some tips for ACG Access and one-on-one meetings. Mike, let’s start with you.

MA: Yeah, as Doug has mentioned already today, DealMAX is pretty big and can be a bit overwhelming. And I think that there’s a belief that you need to meet with as many people as possible when you’re out there. And the biggest tip I can offer is focusing on quality or overlap more than quantity, and really going into every conversation with a little bit of prep work. It takes less than a minute or two to look up someone’s LinkedIn profile or their website to come prepared to your meeting with some backdrop. And I think that goes for using ACG Access as well, doing your homework before sending out meeting invites, making sure that there’s good overlap between your firms, or at least that you’re communicating what it is you want to meet with somebody about. That way, it sort of keeps that ACG Access hygiene and makes sure that everyone is not inundated or overwhelmed.

MMG: Doug, anything to add there?

DB: Yeah, look, there, there are two things that I would highlight. I try to go into DealMAX with the view that the meetings that I’m having are either going to be more of a general catch up with someone that I already know, and it’s more of just a see and seen shake hands generally, you know, spend some time with them over the 20-minute meeting that you’re going to have. And then the other group, to Mike’s point about looking at quality over quantity and overlap, I always try to meet with a few folks that either I’ve never met with before and or I don’t come across in my frequent travels and really try to expand the ecosystem in in which we’re trying to cover or do cover. I also kind of look at some of these meetings as more of a jumping off point, and I’m not necessarily trying to get a huge amount of content out of them and hopefully we get one piece or one thing out of each meeting, but I look at it more as a way to follow up with folks and have that secondary discussion, whether it’s with someone else in the organization or around a specific asset or just around something that is more specific than the general catchup you’re likely having at DealMAX.

MMG: Yeah, absolutely. And these meetings are pretty much nonstop for so many attendees at DEALMAX every year, but as you both are well aware and seasoned and familiar with, these meetings can happen almost anywhere. And DealMAX does present a lot of opportunities to connect with people that maybe are unexpected a little bit. So, I’d love to hear about any stories from each of you about some connections or conversations that you’ve had at DealMAX that maybe came about in an unexpected way. Mike, let’s start with you.

MA: That’s a great question. I think that one of my favorite things about DealMAX is you have such a large group of people concentrated in a small location. So, when you’re walking up and down the halls in between meetings or you’re just walking down the escalators to get into the deal rooms, you’re going to run into people. And I think some of the value of going to DealMAX is seeing the people that maybe you didn’t schedule a meeting with, but that you really wanted to see, and you wanted to say hello to you wanted to touch base. And I found that when I leave DealMAX, a couple of those meetings or conversations, whether it’s a lender or a banker or another private equity guy or gal that says, hey, I saw you DealMAX, by the way we got this deal, it’s not a fit for us, sending it your way. And just kind of getting on people’s minds that way is probably one of my favorite parts about the event.

MMG: Doug, what about you?

DB: Yeah, look, I love the event, and this kind of goes back to some of the other things that I was saying. I mean, the critical mass of people in one location where you can tackle a lot in a very short period of time, I find to be extremely useful and valuable. To Mike’s point that he was just making, just passing somebody in the casino after the dinners or on your way to a cocktail function, these kind of casual impromptu catch ups are different than just sitting down and talking about what are you guys seeing in the market or focusing so specifically on the work product and you’re really building these long-term relationships with people that kind of go beyond just the deal environment or an individual or specific deal. And that’s one of the reasons why I really like going to DealMAX and what I really get a lot out of DealMAX is because you get some of these more casual encounters or casual interactions with people that can really foster a really deep relationship for a long time to come.

MMG: Mike, we were talking earlier about the opportunity to multitask and get a meeting in while getting a workout in, which is such a great idea, and we know that you are regular at the DealMAX Run Club. Tell us a bit about the Run Club and how that’s been valuable or helpful to you to meet individuals and continue making connections.

MA: absolutely. I look at the DealMAX Run Club as a fantastic way for one, catch up with people that you’ve run with in the past, but also it’s a great way when people reach out, hey, do you have a meeting slot? You know, if you don’t have any meeting slots left, you can say, well, hey, I’m going to be at Run Club tomorrow morning at 6 or 6:30am if you want to join me. And I’ve made some really interesting relationships through Run Club, not only at DealMAX, but other ACG events again, where you may not have anything specific to do from a work standpoint right away, but when you spend 30 minutes, 60 minutes with someone running, you get to know them as a person. And I think that that turns into to business or at least other introductions along the way. So, it’s a really great way to meet some people. I think it’s very inclusive. You can be a slow runner, a fast runner, not a runner at all, and there’s somebody for you to run with and talk to.

MMG: Doug, what would you say is an opportunity that DealMAX offers that’s maybe underrated or that attendees don’t necessarily take full advantage of?

DB: Yeah, I think that folks get bogged down by all the meetings that they book and should probably think about some of the content and the panels that are being held and there’s some really good content and really, really smart and thought-provoking panels that are ongoing throughout the duration of DealMAX. I would suggest to folks that they carve out a little bit of time and try to go sit in some of those discussions because again, I think some of them can be very thought-provoking for a pretty large group of the attendees.

MMG: Alright, well, as we wrap up this conversation today, I want to ask each of you what you would say to someone to convince them to attend DealMAX if maybe they’re unsure or they’re on the fence. Mike, what would you say?

MA: I sort of alluded to this earlier: I was telling someone last week, if you attend one deal source style event next year, DealMAX should be top of your list. There are people for big firms, small firms, lower middle market, upper middle market, bulge bracket, right? There’s going to be somebody there for you and someone that’s going to overlap. And I think in addition, you’re going to see your peers, you’re going to see people that you want to meet again, all concentrated in one place. And it’s a great way to kind of kick off the year.

MMG: And Doug, what would you say your strongest argument is for coming to DealMAX this year?

DB: I mean, this is the Super Bowl of M&A events across the world, and you should definitely be attending. To Mike’s point, there are people of all shapes and sizes that come to this. So you might know the people at certain banks, but you might not know others. And it’s a great way to connect with folks that, again, you might not see in your everyday travels or this might be the only event that that bank or that private equity firm attends. So, you should definitely get out and try to try to attend because you can meet a bunch of people that you might not know of.

MMG: All right. Well, Doug and Mike, thank you again so much for joining us on the podcast. We certainly look forward to seeing you in Vegas. It’s coming up so quickly.

DB: Great. Appreciate it.

MA: Thank you.

MMG: And if you’ve been convinced to join us at DealMAX this year, you can learn more at dealmax.org. Register today to take advantage of the early registration rate, available now until January 14th.

This transcript was prepared by a transcription service. This version may not be in its final form and may be updated.

The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on Apple Podcasts, Spotify and Soundcloud.