Healthcare Market Outlook: Insights From Axial’s Top Dealmakers
We recently released the 2024 Top 50 Lower Middle Market Healthcare Investors & M&A Advisors. This list showcases Axial’s 50…
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Welcome to the September edition of Small Business Exits, the monthly publication featuring fully anonymized deal data from a selection of recently closed lower middle market deals that were brought to market via Axial.
Each issue includes the following information on each closed transaction:
- Deal Headline
- Close Date
- Region
- Industry
- Revenue
- EBITDA
- Buyer Matches
In addition, each month, we select one closed deal to feature, sharing additional data and insights on both the acquired business and transaction.
All data is fully anonymized to protect the confidentiality of Axial members and transactions.Â
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Featured Deal
The owners of this medical evaluation company brought the deal to market as they were seeking a strategic equity partner to help scale the business and expand their services.
The company provides independent evaluations for insurance companies, employers, and legal professionals. The business has expanded rapidly since its inception during the height of COVID-19, handling an average of 200 evaluations monthly. Daily operations are supported by a team of licensed psychiatrists and healthcare contractors under a flexible model that conducts assessments both virtually and in person.
The business experienced a YoY growth rate of 21% in revenue and 65% in earnings when the deal confidentially went to market in Q1 of this year. Axial’s algorithm matched 326 potential buyers, 58 of whom pursued the opportunity, resulting in a pursuit rate of 17.79%, more than 2x the average for healthcare deals in the $1M-$3M EBITDA range.
Medical Evaluation Company
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Looking to exit your business? Explore Axial’s Advisor Finder.
98Â Small Business Exits From September
| Deal Headline | Closed | Region | Industry | Revenue | EBITDA | Buyer Matches |
|---|---|---|---|---|---|---|
| Technology Consulting Service Company | 9/3/2024 | Southeast | Business Services | $2,600,000 | $1,700,000 | 350 |
| Property Management Firm | 9/3/2024 | Midwest | Industrials | $2,212,459 | $781,321 | 308 |
| Roofing Contractor | 9/3/2024 | Midwest | Industrials | $3,496,205 | $720,592 | 106 |
| Residential HVAC & Plumbing Company | 9/3/2024 | Mountain | Industrials | $2,673,273 | $849,560 | 180 |
| Residential HVAC Company | 9/3/2024 | Midwest | Industrials | $1,614,342 | $601,817 | 113 |
| Metal Fabricator & Erector | 9/3/2024 | Southeast | Industrials | $18,100,000 | $2,800,000 | 765 |
| Prefab Metal Shop Manufacturer | 9/3/2024 | Midwest | Industrials | $4,050,971 | $528,127 | 392 |
| Wholesale Lumber Company | 9/3/2024 | South | Industrials | $23,050,000 | $1,630,000 | 177 |
| Pool Remodel & Construction | 9/4/2024 | Mountain | Industrials | $7,858,105 | $972,786 | 140 |
| Commercial Printing Business | 9/4/2024 | Midwest | Industrials | $6,200,000 | $1,228,000 | 128 |
| Fireplace Installation & Repair | 9/4/2024 | Midwest | Industrials | $7,688,155 | $738,597 | 134 |
| Dry & Liquid Goods Manufacturer | 9/4/2024 | Canada | Food & Hospitality | $5,453,038 | $817,021 | 73 |
| Durable Label Manufacturer | 9/4/2024 | Northeast | Business Services | $7,900,000 | $1,350,000 | 508 |
| Chain Link & Iron Fence Contractor | 9/4/2024 | Pacific | Industrials | $5,004,000 | $1,357,404 | 97 |
| National General Contractor | 9/4/2024 | South | Real Estate | $34,000,000 | $500,000 | 33 |
| Truck Dealership | 9/4/2024 | Southeast | Industrials | $12,000,000 | $1,700,000 | 523 |
| Aircraft Equipment Manufacturer | 9/5/2024 | Mid-Atlantic | Transportation | $9,600,000 | $4,200,000 | 8 |
| Machine Shop | 9/5/2024 | Midwest | Industrials | $4,466,505 | $1,450,878 | 156 |
| Greeting Card Company | 9/6/2024 | Mid-Atlantic | Consumer Goods | $2,338,437 | $536,000 | 215 |
| IT Staffing Company | 9/6/2024 | Midwest | Business Services | $6,167,984 | $831,380 | 344 |
| Commercial Glazing Contractor | 9/6/2024 | Midwest | Industrials | $6,731,000 | $2,538,000 | 120 |
| Multi-family Housing Contractor | 9/6/2024 | Midwest | Industrials | $73,000,000 | $6,300,000 | 23 |
| Power Sport Dealership | 9/9/2024 | Mountain | Transportation | $15,141,251 | $1,275,360 | 141 |
| Concrete Forming Business | 9/9/2024 | Canada | Industrials | $3,350,000 | $1,000,000 | 93 |
| Aircraft Repair & Parts Manufacturer | 9/9/2024 | Midwest | Transportation | $5,130,000 | $2,630,000 | 290 |
| Machine Shop | 9/10/2024 | Southeast | Industrials | $5,900,000 | $800,000 | 367 |
| Sheet Metal Manufacturing | 9/10/2024 | Midwest | Industrials | $6,470,000 | $1,865,000 | 161 |
| Pile Driving Construction Company | 9/10/2024 | Mid-Atlantic | Industrials | $8,000,000 | $1,400,000 | 72 |
| eCommerce Beauty Brand | 9/10/2024 | Southeast | Technology | $5,122,562 | $707,773 | 127 |
| New Construction Plumbing Contractor | 9/10/2024 | Mountain | Industrials | $19,300,000 | $5,100,000 | 516 |
| Federal & Defense Contractor | 9/11/2024 | Southeast | Industrials | $3,352,000 | $767,000 | 124 |
| Vacation Rental Management Co. | 9/11/2024 | Mid-Atlantic | Real Estate | $3,002,880 | $936,521 | 274 |
| Specialty Real Estate Brokerage | 9/11/2024 | Southeast | Real Estate | $7,460,757 | $1,969,086 | 346 |
| Aerospace & Industrial Distributor | 9/11/2024 | Southeast | Transportation | $6,300,000 | $1,400,000 | 188 |
| Construction Company | 9/11/2024 | Southeast | Industrials | $7,977,144 | $2,417,539 | 232 |
| HVAC Company | 9/11/2024 | Southeast | Industrials | $14,453,557 | $2,031,227 | 624 |
| Electrical & Wiring Contractor | 9/11/2024 | Southeast | Industrials | $5,747,000 | $1,400,000 | 61 |
| IT Managed Service Provider | 9/11/2024 | Mid-Atlantic | Technology | $16,400,000 | $2,100,000 | 59 |
| Electrical Contractor | 9/11/2024 | Mountain | Industrials | $9,579,000 | $1,923,000 | 204 |
| Aerospace & Government Manufacturer | 9/13/2024 | Southeast | Industrials | $9,000,000 | $3,300,000 | 426 |
| Medical Evaluation Company | 9/13/2024 | Northeast | Healthcare | $7,590,000 | $3,570,000 | 326 |
| Marketing Consulting Services | 9/13/2024 | South | Business Services | $2,298,660 | $1,086,739 | 443 |
| Restoration Services Business | 9/15/2024 | Mid-Atlantic | Industrials | $39,300,000 | $6,100,000 | 295 |
| Construction Company | 9/16/2024 | Mid-Atlantic | Industrials | $17,000,000 | $3,540,000 | 324 |
| Window & Door Distributor | 9/16/2024 | Mountain | Industrials | $12,800,000 | $2,200,000 | 250 |
| Heating & Plumbing Company | 9/16/2024 | South | Industrials | $35,000,000 | $2,290,000 | 558 |
| Commercial Flooring Company | 9/16/2024 | Midwest | Industrials | $10,200,000 | $820,000 | 60 |
| Utility Services Business | 9/16/2024 | South | Industrials | $18,556,787 | $8,289,766 | 732 |
| Residential HVAC Contractor | 9/16/2024 | South | Industrials | $12,100,000 | $1,200,000 | 13 |
| Adhesive Manufacturer | 9/17/2024 | Mid-Atlantic | Industrials | $20,000,000 | $2,700,000 | 358 |
| Charter Bus Company | 9/17/2024 | South | Transportation | $2,320,000 | $1,070,000 | 164 |
| Trucking Company | 9/17/2024 | Midwest | Transportation | $14,500,000 | $4,900,000 | 479 |
| Metal Work Manufacturer | 9/17/2024 | Midwest | Industrials | $25,900,000 | $2,900,000 | 265 |
| Residential HVAC Contractor | 9/17/2024 | Southeast | Industrials | $6,720,000 | $1,053,000 | 682 |
| HVAC Installation Company | 9/18/2024 | Northeast | Industrials | $7,000,000 | $1,299,800 | 221 |
| Automotive Repair Shop | 9/18/2024 | Northeast | Transportation | $1,700,000 | $554,000 | 29 |
| Fabrication & Machine Shop | 9/18/2024 | Mid-Atlantic | Industrials | $10,200,000 | $1,800,000 | 359 |
| Pavement Contractor | 9/18/2024 | Mountain | Industrials | $32,900,000 | $5,900,000 | 876 |
| ERP Software Provider | 9/18/2024 | Canada | Technology | $6,800,000 | $3,000,000 | 40 |
| Contract Manufacturer | 9/20/2024 | Mid-Atlantic | Industrials | $282,000,000 | $17,700,000 | |
| Online Reseller | 9/23/2024 | Mountain | Consumer Goods | $2,084,362 | $1,008,243 | 195 |
| Plastic Packaging Manufacturer | 9/23/2024 | Canada | Consumer Goods | $6,615,000 | $605,000 | 53 |
| Home Health Care Services | 9/23/2024 | Northeast | Healthcare | $1,748,334 | $674,148 | 136 |
| HVAC Contractor | 9/24/2024 | Pacific | Industrials | $10,753,831 | $1,815,624 | 123 |
| Lumber Company | 9/24/2024 | Midwest | Consumer Goods | $14,263,351 | $696,515 | 26 |
| Residential HVAC Company | 9/24/2024 | Southeast | Industrials | $1,463,000 | $578,000 | 120 |
| CBD Wholesaler | 9/25/2024 | Midwest | Healthcare | $4,330,000 | $700,000 | 65 |
| Utility Contracting Opportunity | 9/25/2024 | Mountain | Industrials | $1,448,019 | $534,716 | 20 |
| Metal Manufacturer | 9/25/2024 | South | Industrials | $6,491,883 | $1,606,768 | 210 |
| Hardware Store | 9/25/2024 | Mountain | Consumer Goods | $2,139,000 | $612,000 | 26 |
| Auto & Tire Repair Business | 9/25/2024 | Mountain | Transportation | $5,172,481 | $816,000 | 37 |
| Roofing Contractor | 9/25/2024 | Pacific | Industrials | $4,350,331 | $730,496 | 37 |
| Metal Recycling Center | 9/25/2024 | South | Industrials | $6,281,681 | $549,536 | 185 |
| Electrical Company | 9/25/2024 | Midwest | Industrials | $2,342,754 | $752,403 | 55 |
| Auto Glass Replacement Shop | 9/25/2024 | Pacific | Transportation | $2,219,968 | $690,699 | 25 |
| Plumbing Contractor | 9/25/2024 | Pacific | Industrials | $3,111,000 | $838,000 | 237 |
| Plant-Based Supplement Brand | 9/25/2024 | Pacific | Healthcare | $1,803,304 | $721,714 | 147 |
| Ready-Mix Concrete Manufacturer | 9/25/2024 | Pacific | Industrials | $9,000,000 | $2,612,262 | 236 |
| Door & Window Installation Co. | 9/25/2024 | Mid-Atlantic | Industrials | $3,227,000 | $1,153,000 | 69 |
| Full-Service Restaurant | 9/25/2024 | Mid-Atlantic | Food & Hospitality | $1,743,764 | $515,134 | 61 |
| Traffic Control Business | 9/25/2024 | South | Business Services | $3,642,109 | $817,968 | 97 |
| Real Estate Industry Software | 9/25/2024 | Southeast | Real Estate | $1,516,000 | $543,000 | 513 |
| Grocery Store | 9/25/2024 | Midwest | Food & Hospitality | $19,434,836 | $3,162,723 | 120 |
| Multi-Channel eCommerce Business | 9/25/2024 | South | Consumer Goods | $2,480,000 | $970,000 | 184 |
| Medical Spa | 9/25/2024 | South | Food & Hospitality | $1,900,000 | $500,000 | 105 |
| Coin Laundry & Dry Cleaner | 9/26/2024 | Southeast | Food & Hospitality | $1,084,000 | $531,000 | 154 |
| Home Center Store | 9/26/2024 | Southeast | Consumer Goods | $6,632,697 | $536,760 | 106 |
| Coil Tubing Wholesaler | 9/26/2024 | South | Industrials | $2,700,000 | $1,200,000 | 190 |
| Flooring Contractor | 9/26/2024 | Southeast | Consumer Goods | $5,694,458 | $1,245,753 | 258 |
| Graphic Designer | 9/26/2024 | Pacific | Business Services | $69,000,000 | $10,000,000 | 43 |
| Security Services Firm | 9/26/2024 | Southeast | Business Services | $16,500,000 | $3,800,000 | 32 |
| Water Treatment Equipment Manufacturer | 9/26/2024 | Midwest | Industrials | $7,350,000 | $1,540,000 | 37 |
| Landscaping Equipment Distributor | 9/26/2024 | Northeast | Agriculture | $6,611,405 | $925,351 | 171 |
| Asset Management Company | 9/27/2024 | Mid-Atlantic | Technology | $3,300,000 | $1,500,000 | 922 |
| Branded Building Materials Distributor | 9/27/2024 | Northeast | Industrials | $49,533,019 | $3,719,130 | 590 |
| Window Installation Business | 9/27/2024 | Northeast | Industrials | $49,533,019 | $3,719,130 | 712 |
| Dentist Office | 9/30/2024 | Mid-Atlantic | Healthcare | $1,590,000 | $920,000 | 43 |
| Industrial Component Wholesaler | 9/30/2024 | Pacific | Consumer Goods | $4,200,000 | $670,000 | 7 |
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