Keeping things moving is the key to everything in my world. That’s why they call me the Deal Flow Guy. In the buy-sell arena, deal flow is not always linear, and it’s not without its visceral moments. In many ways, it reminds me of the game of hockey. If you’ve watched or played hockey, there is nothing like the meaty sound of a player crashing into the boards. It has a specific timbre you don’t hear in any other sport. Not even in boxing, when the fighter hits the mat. The sound of the boards in hockey reverberates high in your chest. Every fan in the arena feels it. Players grunting and thudding, skates squealing and swooshing, sticks clattering – it’s all a part of the sensory experience.

In my world, constant movement and flow help me see opportunities where others don’t. I evaluate situations swiftly and move purposefully to put people and businesses together. From the outside, my work can look chaotic, just as hockey can if you’re not familiar with the game. But from the inside, my work is a choreographed flow of positioning, power and persistence. It’s about creating clear paths, avoiding obstacles and focusing on follow-through.

Like hockey, there’s a cadence to deal flow. You get used to a lot of things. Being busy. People asking for advice at all hours. The complexity and logistics of the deal. Schedules and emotions. Handling the unexpected. And you get used to being knocked into the boards at some point, or else it’s not a game worth playing.

Many of you know that I grew up on the ice. When you’re a kid in Minnesota, you play hockey. You start out wearing your older brother’s or sister’s skates – with an extra sock stuffed in the toe and cardboard crammed down the sides to support your spindly ankles. You pull the laces as tight as you can.

You learn to hit the ice at full skate, whether you’re entering the game for the first time or returning from the penalty box. Hockey waits for no one.

Similarly, deal flow waits for no one. Opportunities come and go. Buyers have access to money and then they don’t. Sellers change their minds or get cold feet. Players flow in and flow out. Every gain is hard-won.

I’ve watched hockey, played hockey and coached hockey. I’ve thought a lot about how it affects the way I work and compete. There are no high, arching passes downfield like there are in football. No slugging it over the outfielder’s head like in baseball. Success comes from passing, moving and keeping your eye on the target.

As with hockey, I make my progress for my team and my clients through daily hard work. I take nothing for granted. I’m tracking the rise and fall of players, the close-in skirmishes, the power plays and the long strategies.
When it comes to buy-sell movement, this is where I see the most activity: 

• Profitable packaging and label businesses continue to be in favor as buying targets.
• Modest businesses with loyal customers, sales and marketing talent, and a geographic advantage are also held in high regard.
• Investors and consolidators are leveraging timing and uncertainty to solidify their positions, buy their way into new and niche markets, and add capabilities – especially those that can integrate with flexible digital services such as prototyping and variable short runs.
• Strategic buyers are pursuing deals with a fair asking price and creative terms to maximize synergy.
• Platform builders are systematically augmenting their empires – buying deeper into supply chains, expanding capabilities, optimizing workflows, and gaining expertise in e-commerce and infrastructure.
• Loyal employees are flowing between internal positions – while others are calling timeout, leaving businesses in a precarious position.
• Recruitment, retention and attractive compensation packages are top priorities.
• Earn-outs are back in fashion as exit strategies.

In all, it’s a heckuva time to buy or sell a growing business. This year, buyers will continue to fight hard for the winners. We expect right-sized niche players and reliable free agents to be courted vigorously. We’ve created a list we’re happy to share with you of recent transactions that highlight the buying frenzy. Sellers with strong financial, strategic or operational advantages have sold at high levels, with record multiples, and fresh sellers are keeping enthusiasm high.

On our side, we’re connecting buyers and sellers like never before. We’re facilitating executive placements and referring industry experts to meet overwhelming demand. We’re making introductions between entities whose sole purpose is to grow and consistently make money.

The game is flowing in unexpected ways. Energy is at a fever pitch. The crowd is roaring. The boards are humming. The buy-sell arena is vibrating, and we’re hitting the ice running.

“This year, buyers will continue to fight hard for the winners. We expect right-sized niche players and reliable free agents to be courted vigorously.”



Rock LaManna is The Deal Flow Guy. He helps qualified buyers and investors find businesses that are ready for acquisition or transition. On the sell side, he helps owners improve their businesses, increase value, and position strategically in anticipation of sale, exit or succession. Sign up for his newsletter at TheDealFlowGuy.com and start the process.