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M&A Advisory

Clients engage our M&A representation services with several goals in mind: To maximize net proceeds, ensure transaction closure and achieve the best possible terms with confidentiality, speed and minimal burden on ownership and management

What We Do

M&A Services

Clients engage our M&A representation services with several goals in mind: To maximize net proceeds, ensure transaction closure and achieve the best possible terms with confidentiality, speed and minimal burden on ownership and management.

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Our rigorous analysis, professional marketing materials, and superior negotiation abilities help to ensure the best possible deal for our clients. Each step of the marketing process is tailored to our client’s particular situation and designed to exploit competition amongst potential buyers.

When buyers stretch from a pricing perspective, problems related to financial performance and projections, accounting, customer concentration, employment agreements, non-compete agreements, industry downturns, etc. are all magnified. Our track record of dealing with such issues to keep them from becoming deal-killers is attributable to our team of experienced professionals.

During the negotiation process, our clients are shielded from the sometimes emotionally tense discussions with the buyer. Our experience negotiating transactions enables us to extract better pricing and terms than a business owner would otherwise be able to accomplish, particularly one who has not previously been involved in a business sale. Our professionals are experienced and comfortable negotiating for the best possible outcome, but know when to compromise in order to ensure the deal happens. Meanwhile, the relationship between our client and the buyer is unaffected, which is especially important during the transition period.

Confidentiality is interwoven with every step of our marketing process to avoid disruption of management and employees and to maintain positive relationships with customers and suppliers. Everyone requesting confidential information is required to sign a Confidentiality Agreement. For competitors included in the process, we tailor our approach and marketing materials in order to ensure that sensitive information is not placed in the wrong hands.

In deal making, time is the enemy. Hazards, including economic changes or developments within our clients’ businesses or markets, can befall a deal with the passage of time. Therefore, the quicker the transaction and the greater the momentum we can foster, the lower the risk of failure to close.

During the marketing process, is it essential that our clients’ businesses continue to achieve the aggressive strategic and financial goals set by management and communicated to potential buyers. Accordingly, our collaborative role is one that emphasizes minimal burden on the owner (as well as the corporate staff should the owner choose to make them aware of the sale) in order that he or she may continue to run the business.

Results That Matter

RELEVANT TRANSACTIONS

These transactions illustrate our long-standing role as an independent advisor for boards, shareholders, and trustees. 

Specialty Construction
Specialty Construction
Worldwide/NA Electric
Worldwide/NA Electric
Neverleak/NPG
Neverleak/NPG
Levo/Heritage
Levo/Heritage
Hose Texas/Tipco
Hose Texas/Tipco
Innovations/NW Florida
Innovations/NW Florida
Aspirant/PointC
Aspirant/PointC
Advia/Northside
Advia/Northside
Progressive/B1
Progressive/B1
Y12/FSB
Y12/FSB
Palmetto/Southern Bank
Palmetto/Southern Bank
One America/Hopetown
One America/Hopetown

Frequently Asked Questions from Sellers

Determining the right time to sell your business depends on both market conditions and company-specific factors. Strong financial performance, growth trends, and buyer demand all point to favorable timing. Many owners also consider personal goals, succession plans, and market cycles. Ideally, sellers enter the market when their business is performing well and industry valuations are strong. Conducting a professional business valuation and market assessment can help clarify your options. Partnering with an experienced M&A advisor can help a seller maximize proceeds no matter the underlying market conditions.

The process of selling a business typically follows several key stages: preparation, marketing, negotiation, and closing. Preparation begins with a benchmark valuation, financial review, and creation of marketing materials. During the marketing phase, your M&A advisor confidentially approaches qualified buyers. Negotiations focus on price, terms, and deal structure, leading to a letter of intent. Finally, due diligence and legal documentation culminate in the closing of the transaction. Each step requires careful coordination and expert guidance. A seasoned M&A advisory team can help ensure a smooth and profitable transaction.

On average, selling a business takes six to twelve months from preparation to closing. The timeline depends on the company’s size, financial health, and industry. The initial stages—valuation, preparation, and marketing—often span a few months, while buyer negotiations and due diligence extend the process. Businesses that enter the market with organized financials, strong performance, and a clear narrative tend to close faster. Working with a professional M&A advisory firm streamlines the process by managing timelines, coordinating communication, and maintaining deal momentum—helping sellers close efficiently and maximize transaction value.

Selling a business is a complex process that involves valuation, negotiation, due diligence, and transaction management. M&A advisors play a critical role in guiding owners through these challenges. They prepare your business for sale, identify qualified buyers, negotiate terms, and coordinate with attorneys and accountants. Advisors also manage confidentiality and ensure the process stays on track. Their experience helps avoid costly mistakes and increases the likelihood of achieving optimal value. By working with an experienced sell-side advisor, business owners can confidently navigate the complexities of M&A and complete a successful transaction.

Engaging an M&A advisor early provides significant strategic advantages. Early involvement allows advisors to conduct a business valuation, identify value drivers, and address weaknesses before going to market. They can help improve financial reporting, refine messaging, and position your company effectively with buyers. Early planning also enables better tax and deal-structure strategies, ultimately improving after-tax proceeds. When advisors are involved from the outset, sellers benefit from proactive preparation, stronger buyer engagement, and more competitive offers. Simply put, starting early with the right advisor can add measurable value to your business sale.

Frequently Asked Questions from Buyers

As a buy-side M&A advisor, we use a strategic, data-driven process to identify and pursue acquisition targets aligned with your growth objectives, beginning with a clear definition of investment criteria and leveraging market research, proprietary data, and industry relationships to develop a qualified pipeline that often includes off-market opportunities. We then conduct confidential outreach, manage all communications, and evaluate initial interest and fit, enabling our clients to protect anonymity, negotiate from a position of insight, and complete transactions that create long-term strategic value.

Assessing strategic fit and potential synergies is central to our buy-side M&A advisory process. We begin by clarifying your strategic objectives and evaluating how each potential target aligns with your business model, customer base, culture, and long-term vision. Our analysis examines operational, financial, and cultural alignment, identifies revenue and cost synergies, and uses detailed modeling to quantify value and stress-test assumptions. This disciplined approach helps ensure each acquisition delivers sustainable growth and strengthens your competitive position over the long term.

We provide independent valuation analyses to help clients make informed acquisition decisions based on objective data rather than seller narratives. While reviewing seller-provided materials, we conduct our own comprehensive valuation using multiple methodologies, including comparable company analysis, precedent transactions, and discounted cash flow modeling, to validate assumptions and determine a fair market-based purchase price. By combining industry insight, financial rigor, and transaction experience, we support confident negotiations aligned with both strategic and financial objectives.

A thorough financial quality assessment is a core component of our buy-side advisory process. We perform detailed quality of earnings analyses to distinguish sustainable performance from non-recurring items, evaluating revenue recognition, customer concentration, margin trends, working capital, normalized EBITDA, and potential risks that could affect future cash flows. Working closely with accounting and industry specialists, we identify hidden exposures and validate financial integrity, enabling buyers to structure informed offers, anticipate integration challenges, and negotiate from a position of strength.

Yes. We help clients structure acquisition offers that balance competitive positioning with disciplined valuation by modeling alternative transaction structures and key deal terms to determine the best risk-adjusted outcome. Our analysis incorporates critical metrics such as EBITDA multiples, IRR, and payback periods, along with scenario stress-testing and financing considerations, to ensure alignment with strategic and financial objectives. The result is an offer that is compelling to sellers while protecting your investment goals and long-term growth strategy.

As a buy-side M&A advisor, we act as your strategic advocate throughout negotiations, aligning strategy with your valuation parameters, deal structure preferences, and long-term objectives. We lead or support discussions on price, key terms, and risk allocation while maintaining constructive, professional dialogue with sellers and their advisors to keep transactions on track. Drawing on experience across industries and deal sizes, we anticipate common challenges and develop solutions that protect your interests and preserve deal value.

We help clients design acquisition offers that align structure with strategy and risk tolerance by modeling alternative approaches, including all-cash offers, earnouts, seller financing, and rollover equity. Our advisors evaluate how each component affects valuation, cash flow, deal certainty, and seller incentives, while accounting for market norms and transaction dynamics. This disciplined yet creative approach results in compelling offers that resonate with sellers without compromising long-term value creation goals.

Key Contacts

Nicholas J. Heinz headshot
Nicholas J. Heinz

Managing Director

Timothy R. Lee headshot
Timothy R. Lee

Managing Director

Jeff K. Davis headshot
Jeff K. Davis

Managing Director

Matthew R. Crow headshot
Matthew R. Crow

CEO

Bryce Erickson headshot
Bryce Erickson

Managing Director

Owen T. Johnson headshot
Owen T. Johnson

Senior Advisor

Newsletter

Middle Market Transaction Update Newsletter

Mercer Capital's Middle Market Transaction Update newsletter delivers a quarterly, data-driven view of U.S. middle market M&A activity, including deal value and volume, EBITDA and debt multiples, buyer trends, and industry-level transaction activity. Each issue also features timely analysis of current market dynamics to help middle market companies understand how evolving conditions are shaping transactions.

See All Issues

Transaction Advisory Whitepaper Library

Buying or selling a business is one of the most consequential decisions an owner or management team will make. Mercer Capital’s whitepapers distill decades of transaction advisory and valuation experience into clear, actionable insights for decision-makers. Whether you are evaluating an acquisition opportunity or preparing for a sale, these publications explore the strategic, financial, and valuation issues that shape successful outcomes and help you approach the process with discipline and perspective.

Selling Your Business
WHITEPAPER | Selling Your Business
Practical Steps Business Owners Can Take to Ready Their Businesses for the Best Transaction OutcomeSelling your business is a daunting exercise that requires careful preparation and real-time vigilance.In this whitepaper, we define some practical steps business owners can take to ready their businesses for the best transaction outcome.These steps include identifying the right kind of buyer and transaction design, setting expectations for the timeline to consummate a transaction, hiring an advisor, understanding the various advisory fee structures that best suit each transaction scenario, as well as a few considerations every owner should contemplate before bringing their business to market.
Buy-Side Considerations for Middle-Market Companies Looking to Enter the Acquisition Market
WHITEPAPER | Buy-Side Considerations for Middle-Market Companies Looking to Enter the Acquisition Market
Many observers predict that the market is rife for an unprecedented period of M&A activity, as the aging of the current generation of senior leadership and ownership pushes many middle-market companies to seek an outright sale or some other form of liquidity. Obviously, not all companies are in this position. For those positioned for continued ownership, an acquisition strategy could be a key component of long-term growth.For most middle-market companies, especially those that have not been acquisitive in the past, executing on a single acquisition (much less a broader acquisition strategy) can be fraught with risk. There are many elements, from finding the right targets, to pricing the deal correctly, to successfully integrating the acquired business that could derail efforts to build shareholder value through acquisition.In this whitepaper, we cover buy-side topics from the perspective of middle-market companies looking to enter the acquisition market.
Quality of Earnings Analysis
WHITEPAPER | Quality of Earnings Analysis
What Buyers and Sellers Need to Know About Quality of Earnings ReportsFor buyers and sellers, the stakes in a transaction are high. You only get one chance to do it right.Commissioning a quality of earnings report is an essential step in getting the transaction right.In this whitepaper, we illustrate how buyers and sellers benefit from a quality of earnings report that extracts a company’s sustainable earning power from the thicket of historical GAAP earnings. We review the most common earnings adjustments applied in QofE analyses and review the role of working capital and capital expenditures as the links between EBITDA and cash flow available to buyers.Leverage the experience of our QofE team to generate Insights That Matter in support of your next transaction.