ACG Detroit | 2026 M&A Outlook

Rajesh “Raj” Kothari, CFA, is the Founder and Managing Director of Cascade Partners, a middle-market investment bank serving business owners from offices in Detroit, Chicago and Grand Rapids. Raj has nearly 30 years of experience as an investor, financial advisor and entrepreneur. He leads divestitures, recapitalizations, acquisitions and other strategic transactions in healthcare services, manufacturing and industrials, infrastructure and construction, and business services.

Before founding Cascade in 2012, Raj co-founded Seneca Partners, an investment banking and private investment firm, and helped form Seneca Health Partners, a healthcare private equity fund. He also co-managed InvestCare Partners, a $70 million healthcare fund at Beringea, and was an investment officer with ProVen Private Equity in London. Along the way he has co-managed several private equity funds and dozens of investments, from early-stage to buyouts.

Raj currently serves on the boards of Priority Health, Micro Machine LLC and Dynamic Computer Corporation, and he chairs the Civil Air Patrol Foundation. He is an adjunct professor at the University of Michigan Ross School of Business, where he also earned his B.A. and MBA.

Combining technical and legal knowledge with an appreciation of the human element involved in complex business decisions and deals, Jeanne Whalen is uniquely suited to shepherd technology-related and healthcare industry transactions from concept to consummation.

Her ability to bridge gaps, bring order to chaos, and distill complexity into clarity has facilitated the closing of countless transactions and helped companies achieve their business objectives. Jeanne represents clients in general corporate, contracting, and acquisition matters, with an emphasis on technology and healthcare-related transactions. She leverages her computer science engineering background and her legal acumen to craft approaches and prepare documentation tailored to the needs of each client and the nuances of each deal.

A former high school teacher, Jeanne knows how to manage and focus the efforts of diverse personalities with divergent interests such that all parties pull together toward a common goal. Recognizing the imperative of getting deals done efficiently and with minimal disruption, Jeanne focuses on the issues that matter while avoiding petty disputes or inconsequential distractions. She is practical and fiercely protective of her clients' interests, representing middle-market and other companies in mergers and acquisitions, joint ventures, and a host of other transactions.

Jeanne has substantial experience with information technology and business process outsourcing transactions, technology development and licensing agreements, and health care/technology reseller agreements. Businesses also rely on Jeanne's sound and candid counsel for a broad spectrum of general corporate matters, including entity formation and capitalization, shareholder agreements, and customer and supplier relationships.

Mike is Senior Vice President and Commercial Banker at Fifth Third Bank. He joined Comerica Bank in 1990, which became part of Fifth Third Bank in February 2026. He has spent his entire career as a commercial banker, providing financial and business solutions for Middle Market Banking customers.

Mike holds bachelor's degrees in Finance and Accounting from Central Michigan University (1989) and an MBA in Finance from Wayne State University (1995).

Among his business and community affiliations, Mike is a member of MICHAuto’s advisory board, volunteers as a student mentor for Winning Futures, is active as a member of the Association for Corporate Growth. Previously, he served on the Board of Advisors for the Finance Department in the School of Business at Central Michigan University, been a guest lecturer at Central Michigan University, has been a partner for Cornerstone Schools, been an under graduate Mentor for Central’s School of Business, has taught classes for Junior Achievement. He is also a retired travel softball and high school softball coach and is Treasurer of the Oakland Cobras Fastpitch Softball Association.

Jason Toffolo is a Managing Director, entrepreneur, and automotive industry executive with more than 30 years of global leadership experience spanning mergers & acquisitions, corporate business development, operational leadership, and strategic growth initiatives across the industrial, manufacturing, distribution, and automotive and heavy equipment verticals.

Jason currently serves as Managing Director at Chapman Associates, where he advises lower middle-market and middle-market companies on buy/sell-side transactions, valuation strategies, and exit planning. He works closely with private equity firms, family offices, investment banks, and privately held business owners to identify buyers and execute complex transactions.

In parallel, Jason is President and Founder of GTS Advisers, a fractional advisory firm focused on M&A strategy, revenue expansion, operational improvement, and sales and business development for a variety of clients in various industries.

Prior to his advisory work, Jason acquired and operated Performance Line Tool Center, the largest independent tool distributor in Michigan, where he led strategic transformation initiatives, ERP implementation, operational optimization, and multi-channel revenue growth. Under his leadership, the company expanded product offerings, strengthened wholesale distribution channels, and improved profitability through operational discipline and customer-centric growth strategies. He successfully exited the business in 2023.  

Jason previously held senior executive leadership positions with several global automotive and industrial organizations including Continental Automotive Systems (now Aumovio), Forvia, JD Norman Industries, Leadec, Honda R&D Americas, and Caterpillar. During his tenure at Continental Automotive Systems, he helped grow business revenues from $20 million to more than $1 billion through a combination of organic growth, strategic account development, and M&A integration initiatives.  

Throughout his career, Jason has built trusted relationships with Industry professionals, founders, and private investors while leading cross-functional global teams throughout North America, Europe, and Asia. His experience includes due diligence, post-merger integration, operational scaling, commercial strategy, and international business development.

Jason has lived in Europe and Asia through past positions and is comfortable working in international and culturally diverse situations. He holds an MBA from University of Michigan and a Bachelor of Science in Mechanical Engineering Technology from Purdue University.