Meet the Expert: Scott Mashuda

Years in Industry: 25+ 

Contact me: smashuda@reag.com,  info@reag.com,  833/333-7324  

My top areas of expertise 

• Lower middle market M&A advisory and deal execution 

• Private market M&A intelligence for founder-led companies 

• Human-centered legacy transitions 

Most surprising thing I’ve learned 

Early on, I assumed M&A was purely a financial exercise—find the highest bidder and close the deal. I quickly learned that lower-middle market business owners care deeply about what happens to their employees and customers after they exit. The best transactions start with deep conversations to understand what truly matters to the owner—and many struggle to articulate it right away. That deep discovery process is what allows us to identify the right buyers who understand the culture, relationships, and community ties that make the company special. 

My definition of success 

True success is measured by what happens after the signatures dry. It’s a founder who, two years later, still feels confident and at peace with their decision—not just relieved on closing day. It’s about employees who remain in stable jobs, customers who continue receiving great service, and a legacy that not only survives the transition but grows because of it. 

How I stay ahead of the curve 

By staying entrenched in the market—constantly talking to buyers, tracking active and closed deal flow, and understanding what drives valuations and deal structures. I've served on the M&A Source board since 2017, which gives me visibility into trends across the lower middle market. But honestly, the best intelligence comes from conversations with owners and operators in the industry. They see shifts in demand, supply chain pressures, and competitive dynamics before they show up in any report. 

What I’d change about how our industry operates 

I'd like to see more transparency around what businesses are actually worth and what drives value. Too many owners operate on outdated assumptions—that their business is worth some arbitrary multiple they heard years ago, or that revenue is what matters most. In reality, buyers in this space are looking at adjusted EBITDA, customer diversification, product and end market diversification, equipment condition, and management capability.  

What you might not know our company does 

REAG has closed over 100 transactions across 25-plus industries, with deep experience in manufacturing, fabrication, and building products. We recently completed the sale of New Angle Beveling—a multi-generational glass manufacturer—to Aldora Aluminum & Glass.  

Anything else to add? 

I'm looking forward to GFAB and the opportunity to share insights with glass industry owners and operators. If anyone wants to connect before or during the conference to discuss their specific situation, I'm always happy to make time for a conversation.