Sell a Business

Cornerstone advises lower middle market business owners who want a serious, confidential process and a high-certainty outcome. Most of our clients are established, historically profitable companies with meaningful EBITDA and a leadership team that can support a transition. Our typical client has $5 million to $250 million in revenue and at least $1 million in EBITDA, and wants to maximize value, protect leverage, and choose the right successor.

A traditional broker often focuses on listing and finding a buyer. A lower middle market M&A advisor runs a structured, competitive process designed to create leverage, protect confidentiality, and negotiate more than just price. The difference shows up in buyer quality, deal structure, risk allocation, and certainty to close.

When you have real buyer competition, buyers behave differently. They move faster, sharpen pricing, and improve terms to win. Multiple offers also reduce your risk because you are not “hostage” to one buyer’s timeline, retrades, or financing issues. The goal is not just a higher number. It is better terms, better fit, and higher certainty to close.

Confidentiality is built into the process. We control how and when information is shared, use buyer screening and NDAs, and release details in stages. Owners stay in control of the narrative while the business stays focused on performance, which protects value.

Many lower middle market deals take 9 to 12 months end-to-end, depending on readiness, industry, and buyer complexity. With Cornerstone’s structured Assurance 360 process, the average process is typically around 6 to 9 months, assuming financials are organized and the business is performing. After LOI, due diligence and closing commonly take additional time based on the transaction’s complexity.

The best outcomes happen when you prepare before you launch. The goal is to reduce buyer doubt and speed up diligence. That typically includes:

• Clean financials and clear add-backs, so earnings are credible
• A clear growth story and why the business wins in the market
• Clarity on your deal priorities (price, terms, legacy, timeline)
• An organized data room plan and documentation you can produce quickly
• Reduced operational dependence on the owner where possible

If you are not ready today, that does not mean you are not sellable. It means we build a plan, so you go to market from a position of strength.

Most deals involve strategic acquirers, private equity groups, family offices, and other well-capitalized buyers. The right buyer type depends on your goals, your industry, management depth, and how you want your next chapter to look.

Headline price is only part of the outcome. We focus on the full value you keep by negotiating structure, working capital, earnouts, seller notes, rollover equity, reps and warranties, indemnities, transition expectations, and timelines. The right deal is the one that closes with the terms you can live with.

Yes. We advise business owners across a wide range of lower middle market industries, including:

• Manufacturing / Industrials
• Distribution
• Business Services
• Professional Services
• Construction and Specialty Contracting
• Logistics and Transportation
• Healthcare
• Food and Beverage
• Consumer and eCommerce
• Technology
• Agriculture
• Oil and Gas

Start with a confidential conversation focused on your goals, timing, and options. Most owners are not looking for pressure. They are looking for clarity. From there, a common next step is a Real Market Analysis (RMA), which gives you a realistic understanding of what today’s market would likely pay for your business and what drives that result. When you know the market reality, you can make smart decisions on timing, preparation, and whether to go to market now or build value first.