Built Different. On Purpose.
We did not start Harborstone to be another investment bank. We started it because the industry was failing the business owners who needed it most.
The Problem with
Most M&A Firms
At many lower middle market firms, the process tends to follow a similar pattern.
You pay $50,000 to $150,000 upfront.
You sign a 1–2 year exclusive agreement.
You’re often handed off to a junior team supporting multiple deals at once.
What follows often looks like this:
• Minimal buyer engagement
• Disappointing valuations
• Slow or inconsistent communication
• A process that drags on or dies altogether
If the deal falls through, the upfront fee is already paid.
If you decide to move on, there may be additional costs to exit the agreement.
Across the market, it’s not uncommon for firms to take on a high volume of engagements relative to the number of transactions that ultimately close, creating a model where outcomes can vary widely.
We regularly speak with owners who invested upfront, received initial feedback or a valuation range, and then felt the process slowed or lacked follow-through sometimes just died.
The Harborstone
Model
No Upfront Fees:
We bill monthly. If we stop delivering, you stop paying.
We do all of our prep work and prove ourselves before asking for an exclusive agreement.
Our team has built, bought, and sold real companies. We understand messy financials, imperfect data, and the challenges of running a real business.
We do not settle for 5 to 10 offers. We push for 20+, by reaching more buyers, better storytelling and extreme follow up.
Two Paths Forward
Whether You Want to Sell, Scale, or Both!
Path 1: Sell
Ready to transition out of day to day operations?
We represent you through a structured sale process. It means selling a majority stake (typically 70 to 100%) and after a transition period, moving on or moving to an advisory role.
Not ready for a full transaction?
Bring on an equity partner to fuel growth, fund acquisitions, or take some chips off the table while you keep building. Many of our clients sell a majority stake (typically 60% to 80%) and then stay on for five years, using the capital and expertise of a financial partner to grow their business to a level they could not reach alone. They then transition out of the business on the second sale, selling their remaining equity. (the second bite of the apple)
What Else We Cover...
If you have built a real company with real revenue, we have the expertise and the buyers to maximize your outcome.
Software / SaaS
Vertical SaaS (industry-specific platforms)
Fintech software
HR / payroll platforms
AI-enabled tools
Workflow / automation software
Tech-Enabled Services
Digital marketing platforms
Data analytics / BI firms
Outsourced back-office (finance, HR, IT)
Managed services with proprietary tools
Industrial Services (Outside Construction)
Equipment maintenance & repair
Field services (testing, calibration, repair)
Facility services (janitorial, landscaping at scale)
Industrial cleaning / environmental services
Distribution (Value-Add, Not Commodity)
Specialty distributors (HVAC parts, electrical, safety equipment)
Medical supply distribution
Industrial supply companies
Foodservice distribution (niche segments)
Education & Training (B2B Focus)
Workforce training / certification
Corporate training platforms
Compliance training (safety, HR, etc.)
Trade schools (selectively)
Consumer (But Only Certain Segments)
Health & wellness brands
Subscription businesses
Pet products/services
Premium / differentiated brands
Logistics & Transportation
Last-mile delivery
3PL / freight brokerage
Cold storage logistics
Specialized transport (hazmat, oversized)
Energy & Environmental
Environmental services
Waste management / recycling
Water infrastructure services
Renewable energy services
ESG / compliance consulting
Ag Inputs (Top Category)
Seeds (especially specialty / proprietary genetics)
Fertilizers (niche / specialty blends)
Crop protection products
Animal health products
Ag Services (Very Attractive)
Precision agriculture services
Crop consulting
Soil testing / analytics
Irrigation services
Ag Tech (Hot but Valuation Sensitive)
Farm management software
Yield optimization platforms
Automation / robotics
Drone / data analytics
Food Production (Selective)
Branded food companies
Value-added processing (not raw commodity)
Specialty / organic / premium segments
Ag Infrastructure & Supply Chain
Grain storage / handling
Cold storage
Food logistics
Processing facilities
Common Mistakes
Owners Make
These are the pitfalls we see every day, and exactly what we help you avoid.
01
They stop working on their business during the process, which leads to lower buyer interest and lower valuations.
02
They target the wrong buyers or not enough buyers, which leads to poor outcomes and missed opportunities.
03
They do not understand deal terms and end up with costly surprises after closing, sometimes owing millions they did not expect.
04
They skip diligence preparation, which extends timelines and gives buyers leverage to change their offers.
05
They accept unsolicited offers without running a competitive process. Unsolicited offers typically come in at 4.5x to 6.0x EBITDA. A structured process can generate 8.0x to 12.0x EBITDA.
Ready to do this the right way?
A conversation costs nothing. Let us show you what is possible.