GREEN BAY, Wis. (Jan. 22, 2026) — Cornerstone Business Services, Inc., an investment bank focused exclusively on lower middle market M&A, announced today it has been ranked No. 13 on Axial’s Top 25 Lower Middle Market Investment Banks | 2025 league table.
Update: Cornerstone Business Services was subsequently ranked No. 3 on Axial’s Q2 2026 list of top lower middle market investment banks. Read the Q2 2026 announcement.
To compile the 2025 league tables, Axial reviewed the deal-making activities of 800+ investment banks and advisory firms that met the qualifications to be considered. Cornerstone’s ranking places the firm No. 13 out of 800+ firms reviewed, based on Axial’s measured activity and outcomes on its platform.
Axial’s league table ranking methodology evaluates qualified firms based on factors tied to sell-side effectiveness and results, including client quality, buyside targeting, process effectiveness, and deal outcomes such as indications of interest, letters of intent, and closed deals.
“For most owners, selling a business is the biggest financial transaction of their life, and they only get one chance to do it right,” said Scott Bushkie, Founder and Managing Partner of Cornerstone. “At Cornerstone we focus on quality over quantity, bringing investment-banking-level advice and a disciplined process to a limited clientele of family-owned businesses..”
The Cornerstone Difference: built to create options and improve certainty
Cornerstone’s approach is defined by The Cornerstone Difference, a model designed to help owners finish strong with clarity, confidence, and control:
- Assurance 360™: A structured deal process built to generate multiple offers through The Power of Multiple Offers™ (POMO™) and strong closing outcomes. The approach goes beyond price to account for tax mitigation, emotional readiness, and value points specific to the owner.
- Honest Conversations: Clear, direct guidance so owners can make well-informed decisions, including saying “not yet” when timing, expectations, or market reality do not align.
- Team Approach: Each transaction is led by a dedicated advisor and supported by a coordinated team to execute valuation, positioning, outreach, and deal execution.
- Legacy-Level Deals™: A successful exit is not just about the number. It is about walking away with clarity, confidence, and the freedom to move into what’s next, with a focus on protecting the legacy owners have built.
Cornerstone is intentionally selective about the companies it represents and emphasizes clear, informed guidance, complete confidentiality, and integrity and transparency throughout the process. This selectivity and structure are designed to create leverage and results when it matters most.
In Cornerstone’s 2025 performance snapshot, sell-side engagements averaged:
- 56 confidentiality agreements signed per opportunity
- 8 indications of interest (IOIs) received per opportunity
- 24% average premium above benchmark value
- 80% closing ratio for lower middle market opportunities
Research-backed insight into what business owners face
In addition to advisory work, Cornerstone publishes original research to help business owners understand what drives strong exits and what puts value at risk. Cornerstone conducted the 2025 National Study on Selling Your Business, a national survey of 750 U.S. business owners ages 45 to 75 with companies generating at least $5 million in annual revenue.
The research highlights a preparedness gap that can lead to avoidable risk and money left on the table, including:
- 48% of owners plan to sell in three years or less
- 32% do not know where to start or who to trust
- 61% have never received a certified valuation or fair market analysis
- 55% would accept an unsolicited offer if they assume it is reasonable
“The research reinforces why our process starts with clarity,” Bushkie said. “Owners need a real market view of value, a plan, and a disciplined process that creates options. That is how you finish strong.”
About Axial
Axial is a private deal platform serving the lower middle market ($2.5-$250M TEV) and publishes league tables based on activity and outcomes on its platform
Over 3,500 advisory firms and 3,000 corporate and financial buyers have joined Axial to efficiently connect with relevant capital partners, source actionable deals, and build new relationships.
About Cornerstone Business Services
Founded in 2001, Cornerstone Business Services is an investment bank serving the lower middle market and specializing in transactions for businesses with $5 million to $250 million in annual revenue. Headquartered in Green Bay, Wisconsin, the firm advises business owners throughout North America on sell-side transactions, acquisitions, and valuation services, including its Real Market Analysis (RMA).
Cornerstone’s Assurance 360™ process is designed to create multiple qualified offers and improve deal certainty. Over the past five years, the firm has maintained an average closing ratio of about 85%. Cornerstone also publishes original research on business owner readiness and exits, including the 2025 National Study on Selling Your Business. Cornerstone’s mission is to create a positive life-changing event for all the lives they touch.
Axial league table (Top 25 Lower Middle Market Investment Banks | 2025)
https://www.axial.net/forum/top-25-lower-middle-market-investment-banks-2025/
2025 National Study on Selling Your Business (methodology and findings)
https://www.cornerstone-business.com/white-paper/research-report/
Media Contact
Dan Hansher
Associate and Marketing Manager
Cornerstone Business Services
920-436-9890
press@cornerstone-business.com
Disclaimer: Past performance is not a guarantee of future results. Each transaction is unique and outcomes vary by company, timing, and market conditions.
