M&A trends 2026: A tale of two markets

Barry Winer leads the research function for Deloitte’s US M&A and Restructuring practice. Barry has more than 20 years of experience as an innovative research leader, proven leader/general manager and consultant advising large enterprises on organic and inorganic growth strategy and execution.

Adam is Managing Partner of Deloitte’s US Mergers, Acquisitions, and Restructuring Services practice. In this role, he is responsible for the strategy and delivery of Deloitte’s services to Corporate and Private Equity clients across each stage of the M&A and Performance Improvement/Restructuring lifecycle, collaborating with our clients to help them transform their businesses. Adam is a partner with Deloitte & Touche LLP and has more than 25 years of experience with Deloitte, including more than 20 years dedicated to M&A. He has advised on transactions with over $250 billion in value, including multi-billion dollar leveraged buyouts, growth acquisitions, strategic mergers, and complex carve-out transactions. His experience spans working with clients to help them maximize deal value through due diligence, deal structuring, operational and financial reporting, global integration, and divestiture activities. Previously, he served as Deloitte’s US Private Equity Leader, where he focused on delivering Deloitte’s full suite of services to Private Equity firms and their portfolio companies. Adam is based in our San Francisco office and previously worked in Los Angeles and Bermuda. Adam is a Certified Public Accountant (CPA) and holds a B.A. in Business Economics with an emphasis in Accounting from the University of California, Santa Barbara.

Nikki is a principal in Deloitte’s Mergers, Acquisitions and Restructuring (MARS) practice and focuses her efforts on serving clients in the Life Sciences and Health Care sector. Nikki has supported clients in a variety of roles including pre and post deal M&A integration planning, cross-functional business readiness assessment, synergy identification and tracking, program / project management oversight, Day 1 and Command Center set up, legal entity review and transition, and organizational design and change management. She has directly supported leaders across a range of functions including Legal, Finance, Accounting, HR, Sourcing, Risk, Sustainability, and Research and Development. She has also led full PMI programs both in North America and Europe. She is also the MARS National Purpose Leader. As an alumnus of Teach For America, she has always been passionate about connecting her impact to broader societal challenges and now works with her Deloitte colleagues to bring that to her clients as well. She also is the Champion of the MARS Parent Network and is the proud mom to three young boys. Prior to joining Deloitte, Nikki graduated with her MBA / MPA from the University of Texas where she concentrated her studies in finance and entrepreneurship. She also has a BSE in Chemical Engineering from the University of Michigan.