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What’s really happening in recruitment M&A right now?

In this episode, Paul Masters from Sovereign Private joins us to unpack the shifting landscape of agency mergers and acquisitions across Australia in 2026.

We explore why deal activity has slowed from the 2022–2023 highs, and why today’s transactions are increasingly favouring high-performing niche agencies over generalist firms. From valuation multiples to what “strong” actually looks like in the current market, this is a grounded look at how economic conditions are reshaping pricing and expectations.

We also get into what really happens behind the scenes. How buyers stress test growth forecasts, why generic projections don’t hold up, and what a credible EBITDA bridge needs to demonstrate to make it through due diligence.

Paul also explains the practicalities of deal structure, founder dependence, earnouts, and the critical role of a strong second-tier leadership team.

Paul also shares a surprising insight from offshore buyers across Japan, Europe, and the US. If you’re thinking about growth, exit, or just want a clearer view of the market, tune in.

Hosted by APSCo Australia's Lesley Horsburgh

To learn more about APSCo Australia, head to au.apsco.org

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Five generations are now working shoulder to shoulder, and the old rules aren’t keeping up. We sit down with Florence Potter (No Umbrellas) and Richard Spencer (Age Inc.) to unpack what actually makes mixed-age teams thrive: clear norms, bias-aware hiring, and honest conversations about how people want to work.

Florence lifts the lid on workshops that turn vague “culture” into practical agreements: how feedback happens, what professionalism looks like, when in-person time matters, even the unspoken coffee rules. Richard maps the bigger picture, from an aging workforce to the quiet ways ageism shows up in job ads, interview shortlists, and ATS training data. We explore how to redesign “entry-level” teams with seasoned talent, why reverse mentoring should run both directions, and how to shift recruiting to long-term workforce design.

We share concrete moves to modernize hiring language, add intergenerational balance, and replace the golden rule with a smarter one: treat people how they want to be treated.

If you care about retention, performance, and real inclusion, this conversation gives you tools to act today.

To learn more about APSCo Australia, head to au.apsco.org

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In this special live edition, we’re joined by Ged Mason OBE, CEO of Morson Group, for a deep dive into what it really means to be a deal maker in today’s recruitment landscape.

From his early days to building a billion-dollar powerhouse, Ged shares how he approaches relationships, opportunities, and big decisions – with the kind of insight you only get from years at the top.

This is a rare and honest conversation with one of the most respected leaders in the business.

Recorded live at Emerge 2025 and hosted by Lesley Horsburgh of APSCo Australia and Paul Masters from Sovereign Private.

To learn more about APSCo Australia, head to au.apsco.org