Top Takeaways From the 2025 Dallas M&A and Capital Raising Summit

Below are key takeaways on M&A trends and exit strategies, accessing private and public capital, and Texas’ growing role in global finance, from the 2025 Dallas M&A and Capital Raising Summit in Texas, during which more than 100 industry experts, policymakers, and thought leaders shared insights and discussed opportunities in the market.  

1. Multiple Factors Converge for Bright Public M&A Outlook

Strategic buyers’ activity continues to heat up in an increasingly favorable regulatory environment, paving the way for smoother deal execution. The infusion of technology into industrial sectors and the proliferation of alternative capital sources, including joint ventures, also shape today’s bullish M&A market.

2. Entering Public Markets Demands Strategic Planning

Companies must develop robust internal structures and facilitate cultural shifts to prepare for an IPO, with particular emphasis on effective communication, realistic financial modeling, balancing quarterly expectations with long-term goals, and ensuring operational readiness for dual-track processes. Companies often remain private longer due to the burdens of public reporting and the availability of substantial private capital, but a compelling equity story can attract public investors.

3. Going Public Presents Both Challenges and Opportunities

Public companies face increased scrutiny amid regulatory unpredictability, and they must effectively manage crisis situations and corporate governance in the public eye. Newly public companies benefit from experienced leaders around the table to advise on compliance with required standards while also ensuring they meet market expectations and execute on the strategic growth plan.

4. Texas Emerges as a Business-Friendly Jurisdiction

Recent amendments to Texas corporate law, the creation of Texas Business Courts, and the expected launch of the Texas Stock Exchange, aim to attract more businesses to the Lone Star State. These developments enhance the state’s role as a business-friendly jurisdiction with legal and financial infrastructure focused on providing greater governance flexibility and reduced litigation risk.

5. Private M&A Remains Active Despite Rising Interest Rates and Regulatory Changes

Creative financing solutions and strategic buyer engagement are critical in today’s evolving private M&A market, and the use of continuation vehicles and dual-track processes continue to be popular for maximizing exit opportunities.

6. Capital Markets Landscape Continues to Evolve With Mix of Public and Private Sources

The private capital market has grown significantly to fill gaps in the public market, providing liquidity that allows companies to stay private longer. However, the IPO market has begun to heat up, with a backlog of companies that are ready to go public. SPACs have also ticked upward, offering a controlled entry to public markets with strategic advantages over traditional IPOs in a narrow set of circumstances.

7. Disciplined Execution and Realistic Valuations Remain Critical

The resurgence of SPACs highlights the critical importance of disciplined execution and realistic valuations. Before going public, companies must focus on long-term growth and investor appetite to ensure market readiness. Experienced advisors and investors can instill discipline and prevent poor decision-making, improving the likelihood of successful outcomes in both SPAC and traditional IPO processes.