Award-winning M&A advisor takes the helm of the nation’s leading lower middle market transaction association, marking two consecutive years of female leadership
Cleveland, OH – REAG, a certified lower middle market investment bank, is proud to announce that Director Jaclyn Ring, M&AMI, CM&AP, has officially assumed her role as the 2026 Chair of the Board of Directors for the M&A Source, the nation’s preeminent association for professionals engaged in lower middle market business transactions.
Ring’s appointment marks a historic milestone for the organization: two consecutive years of female leadership, following Kathlene Thiel’s tenure as 2025 Chair. For an industry historically dominated by male leadership, this succession represents meaningful progress in diversifying the voices shaping the future of lower middle market M&A.
“I’m honored to lead an organization that has been instrumental in my professional development and has given so much to our industry,” said Ring. “The M&A Source community is filled with talented professionals who are committed to excellence and ethical practice. My focus this year will be on continuing to elevate the resources and connections we provide to help our members better serve business owners navigating one of the most important decisions of their lives.”
Ring brings more than 12 years of M&A experience to the role, having joined REAG in 2013. She has built a distinguished career guiding lower middle market companies through complex transactions across manufacturing, distribution, healthcare, specialty chemicals, and other sectors. Her leadership at REAG includes developing the firm’s proprietary buy-side process and training the next generation of investment banking professionals.
Her path to the chairmanship reflects years of dedicated service to the M&A Source. Ring was elected to the Board of Governors in 2023 and served as 2025 Conference Committee Chair, where she led the planning and execution of the organization’s flagship Spring Conference & Deal Market in Orlando. She previously served as Sponsorship Committee Chair, earning the 2024 M&A Source Service Award for her contributions.
“Jaclyn exemplifies what REAG stands for—deep expertise, genuine client care, and a commitment to advancing our profession,” said Todd Torquato, Founding Partner of REAG. “Her leadership at the M&A Source will benefit not just our firm, but the entire community of advisors and business owners we collectively serve.”
Ring’s accolades extend beyond the M&A Source. She is a recipient of the 2024 Women in Transaction Award from ACG Pittsburgh, recognizing her outstanding achievements in dealmaking. She holds both the Certified M&A Professional (CM&AP) and Mergers & Acquisitions Master Intermediary (M&AMI) designations and serves as faculty for the Exit Planning Institute.
Ring follows in the footsteps of REAG CEO & Founding Partner Scott Mashuda, who served as M&A Source Chair in 2023 — making REAG the only firm to have two professionals serve as Chair within a four-year span, underscoring the firm’s leadership position in the lower middle market M&A community.
About REAG
REAG is a certified, award-winning lower middle market investment bank specializing in mergers and acquisitions, business valuations, strategic ownership planning, and private capital markets advisory. For over two decades, REAG has helped leadership teams, private equity groups, and family offices optimize cash flow, overcome challenges to grow, maximize business value, and successfully transfer ownership. Learn more at reag.com.
About the M&A Source
The M&A Source is the leading not-for-profit association for individuals and firms engaged in lower middle market business transactions. Founded in 1992, the association provides education, benefits, conferences, support programs, and networking opportunities, and awards the Mergers & Acquisitions Master Intermediary (M&AMI) designation to qualified advisors. Learn more at masource.org.
