Who are the top lower middle market investment banks?

Axial’s league tables hub highlights the top lower middle market investment banks featured in our quarterly ranking publication.

Discover The League Table Recipients

Explore the firms that lead the way in delivering exceptional client value and unmatched performance.

Period:

Period	Rank	Firm Name	HQ State	Axial Verfied Close Deals	Number of Tombstones	Total Number of Features	Axial Member Since	Most Common Industry Vertical	Most Used Industry Activity (deals sent)	Average Revenue of Deals Sent	Average Ebitda of Deals Sent	Axial Marketed Deals	Closed Deals	Passport Sellside Responsiveness (%)
Q2 2024	1	Woodbridge International	CT	0	158	17	2009	Industrials	Services	0.00	0.00	648	176	0
Q2 2024	2	Peakstone Group	IL	2	43	17	2010	Consumer Goods	Services	0.00	0.00	170	47	80
Q2 2024	3	Bentley Associates	NY	0	2	2	2010	Technology	Services	0.00	0.00	59	4	95
Q2 2024	4	New Direction Partners	PA	3	13	12	2011	Consumer Goods	Manufacturing	0.00	0.00	95	17	90
Q2 2024	5	Cross Keys Capital	FL	0	29	2	2014	Consumer Goods	Services	0.00	0.00	53	29	90
Q2 2024	6	FOCUS Investment Banking	VA	3	168	15	2009	Technology	Services	0.00	0.00	191	171	90
Q2 2024	7	Axiom Acquisition	TX	0	0	1	2023	Industrials	Services	0.00	0.00	8	1	100
Q2 2024	8	SDR Ventures	CO	3	79	12	2010	Industrials	Services	0.00	0.00	97	83	30
Q2 2024	9	MidCap Advisors	NY	2	89	2	2009	Business Services	Services	0.00	0.00	40	88	30
Q2 2024	10	Exit The Family Business, LLC	MA	0	2	1	2022	Food & Hospitality	Distribution & Wholesale	0.00	0.00	3	2	95
Q2 2024	11	Plethora Businesses	CA	0	27	10	2009	Industrials	Manufacturing	0.00	0.00	193	30	100
Q2 2024	12	Transact Capital Partners	VA	1	39	5	2011	Industrials	Services	0.00	0.00	53	39	100
Q2 2024	13	Protegrity Advisors	NY	0	9	2	2014	Industrials	Construction	0.00	0.00	21	14	45
Q2 2024	14	Ad Astra Equity Advisors	MO	0	1	3	2022	Industrials	Construction	0.00	0.00	23	1	100
Q2 2024	15	Vesticor Advisors	MI	0	3	6	2013	Industrials	Manufacturing	0.00	0.00	55	3	100
Q2 2024	16	Northbound Group	WI	0	2	1	2020	Technology	Retail	0.00	0.00	20	2	100
Q2 2024	17	Brentwood Growth	NJ	1	13	4	2021	Industrials	Construction	0.00	0.00	46	15	100
Q2 2024	18	Solganick & Co.	CA	0	16	4	2012	Technology	Services	0.00	0.00	43	15	100
Q2 2024	19	Groce, Rose & Moore, LLC	SC	0	5	1	2016	Industrials	Manufacturing	0.00	0.00	20	5	100
Q2 2024	20	True North M&A	AK	0	12	6	2022	Industrials	Manufacturing	0.00	0.00	28	18
Q2 2024	21	Venture North Group	AK	0	8	2	2020	Industrials	Services	0.00	0.00	20	8	100
Q2 2024	22	Capital Canada Limited	ON	0	32	1	2010	Food & Hospitality	Services	0.00	0.00	43	32	95
Q2 2024	23	Cornhusker Capital	NE	0	10	1	2011	Healthcare	Services	0.00	0.00	83	9	100
Q2 2024	24	TREP Advisors	FL	0	7	2	2021	Industrials	Services	0.00	0.00	36	20	100
Q2 2024	25	BlackRose Group	LA	2	22	3	2012	Industrials	Services	0.00	0.00	149	15	90
Q1 2024	1	Vertess Healthcare Advisors, LLC	TX	1	52	13	2015	Healthcare	Services	0.00	0.00	121	63	100
Q1 2024	2	Sun Mergers & Acquisitions	NJ	0	10	8	2009	Industrials	Services	0.00	0.00	85	12	60
Q1 2024	3	Woodbridge International	CT	0	158	17	2009	Industrials	Services	0.00	0.00	648	176	0
Q1 2024	4	Cornerstone Business Services, Inc.	WI	1	21	9	2009	Industrials	Manufacturing	0.00	0.00	128	25
Q1 2024	5	Founder M&A	TX	0	0	1	2024	Industrials	Construction	0.00	0.00	14	6	100
Q1 2024	6	New Direction Partners	PA	3	13	12	2011	Consumer Goods	Manufacturing	0.00	0.00	95	17	90
Q1 2024	7	Tower Partners	MD	0	6	1	2016	Industrials	Manufacturing	0.00	0.00	66	21	40
Q1 2024	8	FOCUS Investment Banking	VA	3	168	15	2009	Technology	Services	0.00	0.00	191	171	90
Q1 2024	9	Ad Astra Equity Advisors	MO	0	1	3	2022	Industrials	Construction	0.00	0.00	23	1	100
Q1 2024	10	Vercor	GA	1	9	6	2009	Industrials	Services	0.00	0.00	118	10	10
Q1 2024	11	Purpose Equity	SC	1	2	1	2021	Industrials	Construction	0.00	0.00	7	3	100
Q1 2024	12	Solganick & Co.	CA	0	16	4	2012	Technology	Services	0.00	0.00	43	15	100
Q1 2024	13	Young America Capital, LLC	NY	0	27	3	2009	Technology	Manufacturing	0.00	0.00	174	18	75
Q1 2024	14	Vesticor Advisors	MI	0	3	6	2013	Industrials	Manufacturing	0.00	0.00	55	3	100
Q1 2024	15	DelMorgan & Co	CA	0	10	3	2013	Technology	Services	0.00	0.00	58	85	5
Q1 2024	16	Liberty Ridge Advisors	WA	0	21	8	2017	Industrials	Manufacturing	0.00	0.00	37	23	70
Q1 2024	17	Premara Group	UT	0	1	1	2020	Technology	information & Software	0.00	0.00	22	3	100
Q1 2024	18	TREP Advisors	FL	0	7	2	2021	Industrials	Services	0.00	0.00	36	20	100
Q1 2024	19	eMerge M&A	NY	2	49	5	2015	Industrials	Construction	0.00	0.00	79	50	5
Q1 2024	20	Kratos Capital	TX	2	31	3	2013	Industrials	Manufacturing	0.00	0.00	42	33	100
Q1 2024	21	Protegrity Advisors	NY	0	9	2	2014	Industrials	Construction	0.00	0.00	21	14	45
Q1 2024	22	ACT Capital Advisors	WA	0	88	10	2009	Industrials	Manufacturing	0.00	0.00	155	91	70
Q1 2024	23	Bell Lap Advisors	OR	0	24	1	2023	Consumer Goods	Retail	0.00	0.00	10	24	95
Q1 2024	24	Oberon Securities	NY	1	145	2	2009	Technology	Services	0.00	0.00	97	145	60
Q1 2024	25	Peak Technology Partners	CA	4	14	3	2019	Technology	information & Software	0.00	0.00	29	15	100
CY 2023	1	FOCUS Investment Banking	VA	3	168	15	2009	Technology	Services	0.00	0.00	191	171	90
CY 2023	2	Peakstone Group	IL	2	43	17	2010	Consumer Goods	Services	0.00	0.00	170	47	80
CY 2023	3	Woodbridge International	CT	0	158	17	2009	Industrials	Services	0.00	0.00	648	176	0
CY 2023	4	New Direction Partners	PA	3	13	12	2011	Consumer Goods	Manufacturing	0.00	0.00	95	17	90
CY 2023	5	Cornerstone Business Services, Inc.	WI	1	21	9	2009	Industrials	Manufacturing	0.00	0.00	128	25
CY 2023	6	Vertess Healthcare Advisors, LLC	AZ	1	52	13	2015	Healthcare	Services	0.00	0.00	121	63	100
CY 2023	7	Embarc Advisors	CA	0	5	3	2020	Technology	Services	0.00	0.00	25	7	75
CY 2023	8	Kratos Capital	TX	2	31	3	2013	Industrials	Manufacturing	0.00	0.00	42	33	100
CY 2023	9	Bridgepoint Investment Banking	NE	0	143	5	2011	Industrials	Services	0.00	0.00	42	143	23
CY 2023	10	Vesticor Advisors	MI	0	3	6	2013	Industrials	Manufacturing	0.00	0.00	55	3	100
CY 2023	11	Madison Street Capital	TX	1	55	5	2011	Industrials	Manufacturing	0.00	0.00	361	58	100
CY 2023	12	True North M&A	MN	0	12	6	2022	Industrials	Manufacturing	0.00	0.00	28	18
CY 2023	13	Merit Investment Bank	WA	1	6	1	2014	Industrials	Services	0.00	0.00	53	6	15
CY 2023	14	Brentwood Growth	NJ	1	13	4	2021	Industrials	Construction	0.00	0.00	46	15	100
CY 2023	15	Vercor	GA	1	9	6	2009	Industrials	Services	0.00	0.00	118	10	10
CY 2023	16	Gleason Advisors	PA	1	15	6	2017	Industrials	Manufacturing	0.00	0.00	23	18	100
CY 2023	17	Plethora Businesses	CA	0	27	10	2009	Industrials	Manufacturing	0.00	0.00	193	30	100
CY 2023	18	ASA Ventures Group	CO	2	4	4	2020	Business Services	Services	0.00	0.00	18	8	45
CY 2023	19	Murphy McCormack Capital Advisors	PA	1	12	5	2010	Industrials	Services	0.00	0.00	48	15	45
CY 2023	20	SDR Ventures	CO	3	79	12	2010	Industrials	Services	0.00	0.00	97	83	30
CY 2023	21	Auctus Capital Partners	IL	3	53	7	2015	Technology	Services	0.00	0.00	183	54	60
CY 2023	22	Osage Advisors	CT	0	16	4	2013	Industrials	Manufacturing	0.00	0.00	68	16
CY 2023	23	BMI Mergers & Acquisitions	PA	1	27	4	2011	Industrials	Services	0.00	0.00	113	28	10
CY 2023	24	ACT Capital Advisors	WA	0	88	10	2009	Industrials	Manufacturing	0.00	0.00	155	91	70
CY 2023	25	Young America Capital, LLC	NY	0	27	3	2009	Technology	Manufacturing	0.00	0.00	174	18	75
Q3 2023	1	Woodbridge International	CT	0	158	17	2009	Industrials	Services	0.00	0.00	648	176	0
Q3 2023	2	True North M&A	MN	0	12	6	2022	Industrials	Manufacturing	0.00	0.00	28	18
Q3 2023	3	Vista Business Group	KS	2	28	4	2012	Technology	Services	0.00	0.00	102	38	100
Q3 2023	4	Peakstone Group	IL	2	43	17	2010	Consumer Goods	Services	0.00	0.00	170	47	80
Q3 2023	5	Corporate Finance Associates â€“ Houston	TX	3	3	1	2011	Industrials	Manufacturing	0.00	0.00	43	14	90
Q3 2023	6	DelMorgan & Co	CA	0	10	3	2013	Technology	Services	0.00	0.00	58	85	5
Q3 2023	7	BMI Mergers & Acquisitions	PA	1	27	4	2011	Industrials	Services	0.00	0.00	113	28	10
Q3 2023	8	Young America Capital, LLC	NY	0	27	3	2009	Technology	Manufacturing	0.00	0.00	174	18	75
Q3 2023	9	Bravaldo Capital Advisors	GA	1	1	2	2011	Consumer Goods	Distribution & Wholesale	0.00	0.00	16	11	80
Q3 2023	10	Stillwater Capital	CAN	0	21	1	2020	Industrials	Services	0.00	0.00	23	21	73
Q3 2023	11	Kaulkin Ginsberg	MD	0	2	3	2017	Business Services	Services	0.00	0.00	9	2	100
Q3 2023	12	Evangeline Securities	LA	3	7	5	2016	Industrials	Services	0.00	0.00	31	7	100
Q3 2023	13	Brentwood Growth	NJ	1	13	4	2021	Industrials	Construction	0.00	0.00	46	15	100
Q3 2023	14	McDonald Dalton Capital Partners	TX	0	11	1	2019	Energy & Renewables	Services	0.00	0.00	12	21	90
Q3 2023	15	Fortunet	ISR	0	1	3	2023	Technology	Retail	0.00	0.00	34	4	100
Q3 2023	16	Frontier Investment Banking Corp.	KS	1	11	3	2009	Healthcare	Services	0.00	0.00	29	11	100
Q3 2023	17	Bridgepoint Investment Banking	NE	0	143	5	2011	Industrials	Services	0.00	0.00	42	143	23
Q3 2023	18	Kratos Capital	TX	2	31	3	2013	Industrials	Manufacturing	0.00	0.00	42	33	100
Q3 2023	19	Sun Mergers & Acquisitions	NJ	0	10	8	2009	Industrials	Services	0.00	0.00	85	12	60
Q3 2023	20	The Midessa Group	TX	0	1	1	2016	Energy & Renewables	Services	0.00	0.00	41	11	100
Q3 2023	21	Ad Astra Equity Advisors	MO	0	1	3	2022	Industrials	Construction	0.00	0.00	23	1	100
Q3 2023	22	Polaris Healthcare Partners	NC	0	4	1	2022	Healthcare	Services	0.00	0.00	8	5	100
Q3 2023	23	Cascade Partners LLC	MI	1	82	1	2014	Healthcare	Services	0.00	0.00	48	86	65
Q3 2023	24	Bentley Associates	NY	0	2	2	2010	Technology	Services	0.00	0.00	59	4	95
Q3 2023	25	FOCUS Investment Banking	VA	3	168	15	2009	Technology	Services	0.00	0.00	191	171	90
Q2 2023	1	FOCUS Investment Banking	VA	3	168	15	2009	Technology	Services	0.00	0.00	191	171	90
Q2 2023	2	ASA Ventures Group	CO	2	4	4	2020	Business Services	Services	0.00	0.00	18	8	45
Q2 2023	3	Vertess Healthcare Advisors, LLC	TX	1	52	13	2015	Healthcare	Services	0.00	0.00	121	63	100
Q2 2023	4	Woodbridge International	CT	0	158	17	2009	Industrials	Services	0.00	0.00	648	176	0
Q2 2023	5	Plethora Businesses	CA	0	27	10	2009	Industrials	Manufacturing	0.00	0.00	193	30	100
Q2 2023	6	Murphy McCormack Capital Advisors	PA	1	12	5	2010	Industrials	Services	0.00	0.00	48	15	45
Q2 2023	7	Merritt Healthcare Advisors	CT	0	2	4	2020	Healthcare	Services	0.00	0.00	69	2	55
Q2 2023	8	Vista Business Group	KS	2	28	4	2012	Technology	Services	0.00	0.00	102	38	100
Q2 2023	9	Peakstone Group	IL	2	43	17	2010	Consumer Goods	Services	0.00	0.00	170	47	80
Q2 2023	10	Meritage Partners, Inc.	CA	1	37	6	2010	Industrials	Construction	0.00	0.00	88	37	100
Q2 2023	11	Gleason Advisors	PA	1	15	6	2017	Industrials	Manufacturing	0.00	0.00	23	18	100
Q2 2023	12	ACT Capital Advisors	WA	0	88	10	2009	Industrials	Manufacturing	0.00	0.00	155	91	70
Q2 2023	13	Vercor	GA	1	9	6	2009	Industrials	Services	0.00	0.00	118	10	10
Q2 2023	14	EBB Group	TX	1	26	5	2010	Industrials	Manufacturing	0.00	0.00	250	26	95
Q2 2023	15	Sun Mergers & Acquisitions	NJ	0	10	8	2009	Industrials	Services	0.00	0.00	85	12	60
Q2 2023	16	New Direction Partners	PA	3	13	12	2011	Consumer Goods	Manufacturing	0.00	0.00	95	17	90
Q2 2023	17	MS Capital	CA	1	11	1	2014	Industrials	Construction	0.00	0.00	14	11	85
Q2 2023	18	Cornerstone Business Services, Inc.	WI	1	21	9	2009	Industrials	Manufacturing	0.00	0.00	128	25
Q2 2023	19	Madison Street Capital	TX	1	55	5	2011	Industrials	Manufacturing	0.00	0.00	361	58	100
Q2 2023	20	True North M&A	MN	0	12	6	2022	Industrials	Manufacturing	0.00	0.00	28	18
Q2 2023	21	Kreshmore Group	IL	1	20	2	2019	Industrials	Services	0.00	0.00	17	20
Q2 2023	22	Fortunet	ISR	0	1	3	2023	Technology	Retail	0.00	0.00	34	4	100
Q2 2023	23	CRI Capital Advisors	AL	1	20	2	2012	Industrials	Services	0.00	0.00	59	22	100
Q2 2023	24	STS Capital Partners	BRB	0	4	2	2011	Industrials	Services	0.00	0.00	48	4
Q2 2023	25	EC2 Finance	CAN	0	10	2	2023	Consumer Goods	Services	0.00	0.00	7	11
Q1 2023	1	Woodbridge International	CT	0	158	17	2009	Industrials	Services	0.00	0.00	648	176	0
Q1 2023	2	Peakstone Group	IL	2	43	17	2010	Consumer Goods	Services	0.00	0.00	170	47	80
Q1 2023	3	Vertess Healthcare Advisors, LLC	TX	1	52	13	2015	Healthcare	Services	0.00	0.00	121	63	100
Q1 2023	4	SDR Ventures	CO	3	79	12	2010	Industrials	Services	0.00	0.00	97	83	30
Q1 2023	5	eMerge M&A	NY	2	49	5	2015	Industrials	Construction	0.00	0.00	79	50	5
Q1 2023	6	New Direction Partners	PA	3	13	12	2011	Consumer Goods	Manufacturing	0.00	0.00	95	17	90
Q1 2023	7	Ardent Advisory Group	AZ	1	20	1	2014	Transportation	Maintenance & Repair	0.00	0.00	24	21	100
Q1 2023	8	Plethora Businesses	CA	0	27	10	2009	Industrials	Manufacturing	0.00	0.00	193	30	100
Q1 2023	9	ACT Capital Advisors	WA	0	88	10	2009	Industrials	Manufacturing	0.00	0.00	155	91	70
Q1 2023	10	Cross Keys Capital	FL	0	29	2	2014	Consumer Goods	Services	0.00	0.00	53	29	90
Q1 2023	11	Meritage Partners, Inc.	CA	1	37	6	2010	Industrials	Construction	0.00	0.00	88	37	100
Q1 2023	12	Vesticor Advisors	MI	0	3	6	2013	Industrials	Manufacturing	0.00	0.00	55	3	100
Q1 2023	13	Berkery Noyes Investment Bankers	NY	0	20	1	2011	Technology	information & Software	0.00	0.00	48	20	60
Q1 2023	14	Cornerstone Business Services, Inc.	WI	1	21	9	2009	Industrials	Manufacturing	0.00	0.00	128	25
Q1 2023	15	Murphy McCormack Capital Advisors	PA	1	12	5	2010	Industrials	Services	0.00	0.00	48	15	45
Q1 2023	16	Liberty Ridge Advisors	WA	0	21	8	2017	Industrials	Manufacturing	0.00	0.00	37	23	70
Q1 2023	17	Gleason Advisors	PA	1	15	6	2017	Industrials	Manufacturing	0.00	0.00	23	18	100
Q1 2023	18	Impact Acquisition	KY	0	1	1	2019	Healthcare	Services	0.00	0.00	26	1	20
Q1 2023	19	BlackRose Group	LA	2	22	3	2012	Industrials	Services	0.00	0.00	149	15	90
Q1 2023	20	Hext Capital Partners	TX	1	15	1	2018	Industrials	Services	0.00	0.00	15	15	95
Q1 2023	21	Peakview Partners	CO	0	10	1	2018	Industrials	Distribution & Wholesale	0.00	0.00	10	20	95
Q1 2023	22	Vercor	GA	1	9	6	2009	Industrials	Services	0.00	0.00	118	10	10
Q1 2023	23	Merit Investment Bank	WA	1	6	1	2014	Industrials	Services	0.00	0.00	53	6	15
Q1 2023	24	Business Acquisition and Merger Associates	NC	0	3	4	2009	Industrials	Manufacturing	0.00	0.00	130	12
Q1 2023	25	Brentwood Growth	NJ	1	13	4	2021	Industrials	Construction	0.00	0.00	46	15	100
CY 2022	1	Peakstone Group	IL	2	43	17	2010	Consumer Goods	Services	0.00	0.00	170	47	80
CY 2022	2	FOCUS Investment Banking	VA	3	168	15	2009	Technology	Services	0.00	0.00	191	171	90
CY 2022	3	eMerge M&A	NY	2	49	5	2015	Industrials	Construction	0.00	0.00	79	50	5
CY 2022	4	Woodbridge International	CT	0	158	17	2009	Industrials	Services	0.00	0.00	648	176	0
CY 2022	5	Align Business Advisory Services	FL	0	20	4	2018	Industrials	Services	0.00	0.00	45	20	65
CY 2022	6	Auctus Capital Partners	IL	3	53	7	2015	Technology	Services	0.00	0.00	183	54	60
CY 2022	7	New Direction Partners	PA	3	13	12	2011	Consumer Goods	Manufacturing	0.00	0.00	95	17	90
CY 2022	8	Plethora Businesses	CA	0	27	10	2009	Industrials	Manufacturing	0.00	0.00	193	30	100
CY 2022	9	Cornerstone Business Services, Inc.	WI	1	21	9	2009	Industrials	Manufacturing	0.00	0.00	128	25
CY 2022	10	Embarc Advisors	CA	0	5	3	2020	Technology	Services	0.00	0.00	25	7	75
CY 2022	11	Bridgepoint Investment Banking	NE	0	143	5	2011	Industrials	Services	0.00	0.00	42	143	23
CY 2022	12	Salt Creek Partners	TX	0	1	6	2020	Industrials	Services	0.00	0.00	31	8
CY 2022	13	FirePower Capital	CAN	0	46	6	2018	Industrials	Manufacturing	0.00	0.00	51	45	15
CY 2022	14	SDR Ventures	CO	3	79	12	2010	Industrials	Services	0.00	0.00	97	83	30
CY 2022	15	Business Acquisition and Merger Associates	NC	0	3	4	2009	Industrials	Manufacturing	0.00	0.00	130	12
CY 2022	16	Vista Business Group	KS	2	28	4	2012	Technology	Services	0.00	0.00	102	38	100
CY 2022	17	Northern Edge Advisors	NY	0	16	2	2009	Industrials	Manufacturing	0.00	0.00	258	17	80
CY 2022	18	Janas Associates	CA	0	10	2	2018	Industrials	Distribution & Wholesale	0.00	0.00	22	10	60
CY 2022	19	Meritage Partners, Inc.	CA	1	37	6	2010	Industrials	Construction	0.00	0.00	88	37	100
CY 2022	20	WhiteHorse Partners	TN	4	14	3	2013	Industrials	Manufacturing	0.00	0.00	99	14	60
CY 2022	21	Gleason Advisors	PA	1	15	6	2017	Industrials	Manufacturing	0.00	0.00	23	18	100
CY 2022	22	Clayton Capital Partners	MO	1	15	7	2011	Industrials	Manufacturing	0.00	0.00	41	18
CY 2022	23	Sun Mergers & Acquisitions	NJ	0	10	8	2009	Industrials	Services	0.00	0.00	85	12	60
CY 2022	24	Vertess Healthcare Advisors, LLC	TX	1	52	13	2015	Healthcare	Services	0.00	0.00	121	63	100
CY 2022	25	Transact Capital Partners	VA	1	39	5	2011	Industrials	Services	0.00	0.00	53	39	100
Q3 2022	1	eMerge M&A	NY	2	49	5	2015	Industrials	Construction	0.00	0.00	79	50	5
Q3 2022	2	Salt Creek Partners	TX	0	1	6	2020	Industrials	Services	0.00	0.00	31	8
Q3 2022	3	Align Business Advisory Services	FL	0	20	4	2018	Industrials	Services	0.00	0.00	45	20	65
Q3 2022	4	Peakstone Group	IL	2	43	17	2010	Consumer Goods	Services	0.00	0.00	170	47	80
Q3 2022	5	Focus Investment Banking	VA	3	168	15	2009	Technology	Services	0.00	0.00	191	171	90
Q3 2022	6	Janas Associates	CA	0	10	2	2018	Industrials	Distribution & Wholesale	0.00	0.00	22	10	60
Q3 2022	7	Everingham & Kerr, Inc	NJ	2	5	2	2009	Industrials	Services	0.00	0.00	858	13
Q3 2022	8	VERCOR	GA	1	9	6	2009	Industrials	Services	0.00	0.00	118	10	10
Q3 2022	9	Flatirons Capital Advisors	CO	0	41	2	2015	Industrials	Construction	0.00	0.00	30	56	100
Q3 2022	10	Auctus Capital Partners	IL	3	53	7	2015	Technology	Services	0.00	0.00	183	54	60
Q3 2022	11	Plethora Businesses	NC	0	27	10	2009	Industrials	Manufacturing	0.00	0.00	193	30	100
Q3 2022	12	The Hatteras Group	GA	3	19	2	2011	Industrials	Manufacturing	0.00	0.00	147	17	0
Q3 2022	13	RLS Associates	DE	1	11	5	2009	Industrials	Manufacturing	0.00	0.00	64	11	30
Q3 2022	14	Tower Partners	MD	0	6	1	2016	Industrials	Manufacturing	0.00	0.00	66	21	40
Q3 2022	15	New Direction Partners	PA	3	13	12	2011	Consumer Goods	Manufacturing	0.00	0.00	95	17	90
Q3 2022	16	Lakeside Partners	WA	1	1	1	2020	Industrials	Distribution & Wholesale	0.00	0.00	6	1	95
Q3 2022	17	ACT Capital Advisors	WA	0	88	10	2009	Industrials	Manufacturing	0.00	0.00	155	91	70
Q3 2022	18	WhiteHorse Partners	TN	4	14	3	2013	Industrials	Manufacturing	0.00	0.00	99	14	60
Q3 2022	19	Business Capital Exchange	MA	0	13	1	2011	Industrials	Manufacturing	0.00	0.00	57	13
Q3 2022	20	GT Securities	CA	0	10	1	2009	Technology	Services	0.00	0.00	78	10	100
Q3 2022	21	PCE Investment Bankers	FL	0	35	1	2018	Industrials	Services	0.00	0.00	18	35	25
Q3 2022	22	Meritage Partners, Inc.	CA	1	37	6	2010	Industrials	Construction	0.00	0.00	88	37	100
Q3 2022	23	SDR Ventures	CO	3	79	12	2010	Industrials	Services	0.00	0.00	97	83	30
Q3 2022	24	BMI Mergers & Acquisitions	PA	1	27	4	2011	Industrials	Services	0.00	0.00	113	28	10
Q3 2022	25	GW Partners	NC	1	1	3	2018	Consumer Goods	Retail	0.00	0.00	36	1	90
Q2 2022	1	Peakstone Group	IL	2	43	17	2010	Consumer Goods	Services	0.00	0.00	170	47	80
Q2 2022	2	FOCUS Investment Banking	VA	3	168	15	2009	Technology	Services	0.00	0.00	191	171	90
Q2 2022	3	Woodbridge International	CT	0	158	17	2009	Industrials	Services	0.00	0.00	648	176	0
Q2 2022	4	Clayton Capital Partners	MO	1	15	7	2011	Industrials	Manufacturing	0.00	0.00	41	18
Q2 2022	5	Vertess Healthcare Advisors, LLC	TX	1	52	13	2015	Healthcare	Services	0.00	0.00	121	63	100
Q2 2022	6	ACT Capital Advisors	WA	0	88	10	2009	Industrials	Manufacturing	0.00	0.00	155	91	70
Q2 2022	7	New Direction Partners	PA	3	13	12	2011	Consumer Goods	Manufacturing	0.00	0.00	95	17	90
Q2 2022	8	Northern Edge Advisors	NY	0	16	2	2009	Industrials	Manufacturing	0.00	0.00	258	17	80
Q2 2022	9	Embarc Advisors	CA	0	5	3	2020	Technology	Services	0.00	0.00	25	7	75
Q2 2022	10	Market Street Capital, Inc.	TX	1	1	2	2018	Technology	Services	0.00	0.00	61	1	95
Q2 2022	11	Two Roads Advisors	NY	0	10	2	2020	Consumer Goods	Retail	0.00	0.00	36	10	25
Q2 2022	12	STS Worldwide	GA	0	14	1	2016	Technology	Services	0.00	0.00	51	14	60
Q2 2022	13	SDR Ventures	CO	3	79	12	2010	Industrials	Services	0.00	0.00	97	83	30
Q2 2022	14	Bridgepoint Investment Banking	NE	0	143	5	2011	Industrials	Services	0.00	0.00	42	143	23
Q2 2022	15	Liberty Ridge Advisors	WA	0	21	8	2017	Industrials	Manufacturing	0.00	0.00	37	23	70
Q2 2022	16	Crystal Capital Consulting	OH	0	11	1	2020	Technology	Services	0.00	0.00	18	11	85
Q2 2022	17	Cornerstone Business Services, Inc.	WI	1	21	9	2009	Industrials	Manufacturing	0.00	0.00	128	25
Q2 2022	18	Casspium Associates, Inc.	NY	0	1	2	2015	Healthcare	Services	0.00	0.00	43	11	5
Q2 2022	19	Aberdeen Advisors, Inc.	FL	0	16	1	2009	Industrials	Services	0.00	0.00	125	19	95
Q2 2022	20	American HealthCare Capital	CA	0	1	2	2011	Healthcare	Services	0.00	0.00	386	2
Q2 2022	21	Merit Investment Bank	WA	1	6	1	2014	Industrials	Services	0.00	0.00	53	6	15
Q2 2022	22	Pacifica Advisors	CA	0	10	2	2021	Consumer Goods	Manufacturing	0.00	0.00	23	13	100
Q2 2022	23	XLCS Partners	TN	0	42	4	2009	Industrials	Manufacturing	0.00	0.00	67	42
Q2 2022	24	Transact Capital Partners	VA	1	39	5	2011	Industrials	Services	0.00	0.00	53	39	100
Q2 2022	25	Ascend Strategic Partners, LLC	CA	0	5	2	2011	Industrials	Services	0.00	0.00	78	15	5
Q1 2022	1	Auctus Capital Partners	IL	3	53	7	2015	Technology	Services	0.00	0.00	183	54	60
Q1 2022	2	FirePower Capital	ON	0	46	6	2018	Industrials	Manufacturing	0.00	0.00	51	45	15
Q1 2022	3	FOCUS Investment Banking	VA	3	168	15	2009	Technology	Services	0.00	0.00	191	171	90
Q1 2022	4	41 North LLC	CA	1	6	2	2013	Food & Hospitality	Manufacturing	0.00	0.00	35	7	60
Q1 2022	5	Woodbridge International	CT	0	158	17	2009	Industrials	Services	0.00	0.00	648	176	0
Q1 2022	6	Align Business Advisory Services	FL	0	20	4	2018	Industrials	Services	0.00	0.00	45	20	65
Q1 2022	7	Gleason Advisors	PA	1	15	6	2017	Industrials	Manufacturing	0.00	0.00	23	18	100
Q1 2022	8	Pacifica Advisors	CA	0	10	2	2021	Consumer Goods	Manufacturing	0.00	0.00	23	13	100
Q1 2022	9	ACT Capital Advisors	WA	0	88	10	2009	Industrials	Manufacturing	0.00	0.00	155	91	70
Q1 2022	10	Cornerstone Business Services, Inc.	WI	1	21	9	2009	Industrials	Manufacturing	0.00	0.00	128	25
Q1 2022	11	SDR Ventures	CO	3	79	12	2010	Industrials	Services	0.00	0.00	97	83	30
Q1 2022	12	Salt Creek Partners	CA	0	1	6	2020	Industrials	Services	0.00	0.00	31	8
Q1 2022	13	A. Buchholtz & Company, LLC	NY	1	15	1	2020	Business Services	Services	0.00	0.00	12	18	5
Q1 2022	14	Madison Street Capital	IL	1	55	5	2011	Industrials	Manufacturing	0.00	0.00	361	58	100
Q1 2022	15	Venture North Group	AK	0	8	2	2020	Industrials	Services	0.00	0.00	20	8	100
Q1 2022	16	Clarke Advisors	AZ	0	11	3	2013	Transportation	Services	0.00	0.00	66	12	95
Q1 2022	17	Telos Capital Advisors	TX	0	11	1	2014	Industrials	Services	0.00	0.00	9	11	100
Q1 2022	18	Bengur Bryan & Co., Inc.	MD	0	19	1	2009	Industrials	Manufacturing	0.00	0.00	18	19	85
Q1 2022	19	Business Acquisition and Merger Associates	NC	0	3	4	2009	Industrials	Manufacturing	0.00	0.00	130	12
Q1 2022	20	Plethora Businesses	CA	0	27	10	2009	Industrials	Manufacturing	0.00	0.00	193	30	100
Q1 2022	21	Evangeline Securities	LA	3	7	5	2016	Industrials	Services	0.00	0.00	31	7	100
Q1 2022	22	Crewe Capital	UT	0	1	1	2018	Industrials	Services	0.00	0.00	10	1	70
Q1 2022	23	XLCS Partners	TN	0	42	4	2009	Industrials	Manufacturing	0.00	0.00	67	42
Q1 2022	24	GW Partners	NC	1	1	3	2018	Consumer Goods	Retail	0.00	0.00	36	1	90
Q1 2022	25	True North M&A	MN	0	12	6	2022	Industrials	Manufacturing	0.00	0.00	28	18
Period

Most Frequently Featured Banks

Rankings That Go Beyond Deal Volume

Leveraging 14+ years of unmatched insights, we focus on 3 additional categories aside from deal volume.

Buyer Targeting

Precision in selecting and approaching the right buyers.

Client Quality

Representing clients that buyers actively seek, measured by buyer interest in deals.

Process Effectiveness

Delivering successful outcomes at every stage from NDA signature to closure.

Common Questions Answered

Who is eligible for Axial's league tables?

Only active investment banks & M&A advisory firms on the Axial platform are eligible for league table rankings.

To qualify, a firm must be in good standing and must have marketed at least one deal that garnered interest from an Axial buyer in the previous period.

How often do you publish league tables?

League Tables are published quarterly, showcasing the top 25 lower middle market investment banks from the previous quarter. The exception is in Q4, when we release an annual edition that highlights the top 25 lower middle market investment banks for the entire calendar year.

What is the methodology for Axial's league table rankings?

Axial’s league table ranking methodology is driven by three factors:

Client Quality: Representing clients that buyers actively seek, measured by buyer interest in deals.
Buyer Targeting: Precision in selecting and approaching the right buyers.
Process Effectiveness: Delivering successful outcomes at every stage from NDA signature to closure.

Does the methodology change?

The league table methodology remains largely consistent. However, the Axial team conducts annual reviews to identify any opportunities for refinement and improvement.

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