Is Small & Mid Companies Driving Corporate Development?

Cooling down from the frenzy arised from 2010 when we reached zero IR, we've seen that a lot of the Corporate Markets have been driven by small and mid companies,

Their less exposure on the market has made that more oportunities are there for less players.

It makes a lot of sense to use M&A in a situation where a company has no following owners and it makes a lot of sense in terms of Build Up strategies.

What are your thoughts? Will Small & Mid companies outshine the larger ones?