Middle Market Growth Conversations What New Research Says About PE’s Impact on Midmarket Businesses
Oct 31, 2025
Doug Farren, Executive Director of the National Center for the Middle Market, dives into new research on private equity’s impact on midmarket businesses. He debunks myths around PE with compelling data showing that PE-backed firms exhibit stronger revenue and employment growth. Farren discusses how PE partnerships bring valuable resources and expertise, fostering job creation. However, he also addresses concerns about costs and control for business owners. Ultimately, PE-backed companies harbor an optimistic outlook, thanks to enhanced support and strategies.
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Career Path To Launch NCMM
- Doug Farren describes his career from Penn State to launching the National Center for the Middle Market in 2011.
- He explains the center's mission: research, outreach, engagement, and education for U.S. middle market firms.
Lessons From Little League Umpiring
- Doug recounts his first job umpiring little league at age 14 and dealing with coaches and parents.
- He says the role taught decisiveness, conviction, and developing a thick skin early in his career.
Historical Data Strengthens Findings
- NCMM combined a new survey with 12 years of historical data to study PE impact on middle market firms.
- This approach let them compare long-term performance through many macro shocks, not just anecdotes.
