14 Best Boutique M&A Advisors in NYC for $5M-$100M Deals (2026 Guide)

Last updated: May 2026

We run Peony, a data room platform for M&A and private equity. NYC is one of the four cities (Dallas, Chicago, Atlanta, and Houston being the others) where we see the most boutique M&A advisor deal flow on the platform. The reason is structural: the New York metro is the largest US M&A market by deal value and dollar volume, the NYC tech ecosystem is the largest US tech market outside the Bay Area, and the Manhattan financial-services and media concentration anchors a buyer pool spanning bulge-bracket strategics, NYC-headquartered PE platforms (KKR, Apollo, Blackstone, General Atlantic, Insight Partners, Vista Equity Partners, TA Associates, Francisco Partners), and the global media and information-industry acquirers (Penguin Random House, HarperCollins, Hachette, Vistria Group, EagleTree Capital).

I co-founded Peony after eight years on the investor side -- first as a venture capitalist at Backed VC, then as a growth equity investor at Target Global covering late-stage and secondary deals -- and a brief earlier stint in M&A at Nomura. Across those roles I evaluated hundreds of deals from the buyer's chair, sat through dozens of management presentations from sell-side advisors, and watched the same handful of mistakes ruin good deals: bad CIMs, disorganized data rooms, advisors who could not answer customer concentration questions in real time, and seller-side processes that lost momentum because nobody could tell which buyer was actually engaged. Now at Peony I work directly with dozens of M&A advisors, independent sponsors, and PE deal teams running diligence across our platform. Building this NYC guide as part of our city series -- see also our Dallas guide, Chicago guide, Atlanta guide, and Houston guide.

This guide maps 14 verified NYC-headquartered or NYC-led boutique M&A advisory firms active in the $5M-$100M EV deal range as of May 2026. Every firm has been verified for NYC presence, deal size band, and recent transaction activity. Bulge-bracket banks (Goldman Sachs, Morgan Stanley, JPMorgan, Citi, BofA Securities, Lazard) are excluded by design -- their structural sweet spot is $300M+ deals, and a $25M-$100M sell-side at any of those firms is a B-team engagement. Generalist boutiques whose primary book is below $5M EV (true business-broker shops) are also excluded, except where the firm's sub-LMM bench (MidCap Advisors, Synergy Business Brokers, Murphy Business of New York) makes the cut on transaction volume and senior-advisor depth.

TL;DR: NYC sits at the intersection of tech and SaaS M&A (Drake Star's Ready Player Me sale to Netflix, GP Bullhound's $200M+ Flo Health Series C from General Atlantic announced July 30 2024), media and information-industry M&A (JEGI CLARITY (now JEGI LEONIS post-merger) Ai4 sale to CloserStill announced March 28 2025, Berkery Noyes' Tambellini Group sale to MGT-Vistria announced March 4 2025), and digital infrastructure (DH Capital's Hivelocity sale to Colohouse announced April 15 2024). Nationally, Axial recorded 12,856 lower-middle-market deals in 2025 (+17.1% YoY) -- a record high -- and NYC boutiques anchor the upper end of that league table. For NYC founders selling between $5M and $100M, the right answer is almost always a NYC boutique: Solomon Partners, Berkery Noyes, JEGI LEONIS, Oaklins DeSilva+Phillips, and Drake Star Partners in the $25M-$100M Mid-LMM band; Progress Partners, GP Bullhound, DH Capital, Triangle Capital, and Three Ocean Partners in the $10M-$25M Low-LMM band; and MidCap Advisors, FE International, Synergy Business Brokers, and Murphy Business of New York in the $5M-$15M Sub-LMM band. Below: the firms, the deal-size bands, the fees, and three recent verified NYC-tied closes that show how the metro's market actually works.

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How I Verified This List

Every firm on this list passes four filters:

1. NYC metro headquarters or principal NYC office -- Manhattan, Brooklyn, Westchester, Long Island, or northern New Jersey within the NYC commuter shed; not a satellite branch staffed by a single analyst
2. Verifiable transaction record -- closed at least 5 transactions in the $5M-$100M EV range in the last 36 months, sourced from press releases, Axial deal feeds, BusinessWire and PR Newswire announcements, or firm transaction walls
3. Active 2024-2026 deal activity -- not a legacy firm coasting on pre-2020 relationships
4. Lower-middle-market core -- modal deal size in the $5M-$100M EV band; firms whose primary book is below $5M EV (true Main-Street brokers) or above $300M EV (where geography stops mattering and bulge-bracket banks dominate) are excluded

I cross-referenced firm websites against Axial's 2024-2025 Top 100 LMM Investment Bank rankings, Crain's New York Business 100 Most Active Dealmakers, the ACG New York chapter, and individual firm press releases for verified 2024-2026 transaction history. Where a firm claimed NYC leadership but the senior team was actually based elsewhere, I dropped it. Bulge-bracket NYC banks (Goldman, Morgan Stanley, JPMorgan, Citi, BofA, Lazard) and elite-boutique upper-LMM specialists (Houlihan Lokey, Lincoln International, Harris Williams, Raymond James) are excluded by design -- their structural sweet spot is $200M+ deals and the $25-100M EV NYC seller is a B-team client at those firms.

Deqian Jia, my co-founder, adds the technical readiness lens here:

"Across the NYC data rooms we host, the gap between advisors who consistently close in 6 months and those who run 12-month processes is preparation. The fast advisors arrive at engagement with the QofE already drafted, the data room indexed by AI, and the management team rehearsed for buyer presentations. The slow ones spend the first six weeks on cleanup work that should have happened pre-engagement. When you're picking a NYC advisor, ask to see a sample data room from a recent close -- not a pitch deck. The folder structure tells you everything." -- Deqian Jia, Peony co-founder

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Quick Comparison Table

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Why Is NYC the M&A Advisor Capital for Tech, Media, and Financial Services?

NYC in 2026 is the largest US M&A market by deal value and dollar volume, and the dominant city for tech, media, and financial-services deals. The math:

• Largest US M&A market by deal value -- the NYC metro consistently anchors the top of the US deal-value league tables, driven by NYC-headquartered strategic acquirers and PE platforms (KKR, Apollo, Blackstone, General Atlantic, Insight Partners, Vista Equity Partners, TA Associates, Francisco Partners, EagleTree Capital, The Vistria Group)
• Largest US tech market outside the Bay Area -- Drake Star, GP Bullhound, and DH Capital all base their US tech franchises in NYC because the buyer side (Insight Partners, General Atlantic, TA Associates, Francisco Partners) is concentrated within a 30-block radius of midtown
• Highest density of US financial-institution M&A -- Solomon Partners' FIG practice, anchored by Tannon Krumpelman who joined the firm as a FIG Partner in April 2025, runs in a market where the buyers (regional banks, insurance carriers, asset managers, fintech consolidators) are NYC-resident or have NYC coverage teams
• Crain's New York 100 Most Active Dealmakers -- editorially curated list that recognizes individual NYC bankers; Reed Phillips III at Oaklins DeSilva+Phillips appears as a Notable M&A Dealmaker, signaling tier-leading dealmaker density in the metro's media/communications boutique bench
• National Axial 2025 LMM deal count: 12,856 deals, +17.1% YoY -- a record high, with NYC firms anchoring the top of the Top 100 LMM Investment Bank league table

Why this matters for sellers: NYC has the deepest specialty boutique bench of any US metro by sub-vertical. The information-industry track record of Berkery Noyes (since 1983), the media/info dominance of JEGI LEONIS (35 deals across the combined 2024 production of JEGI CLARITY and Leonis Partners which became JEGI LEONIS post-merger, across media-info-tech), and the digital-infrastructure depth of DH Capital ($44B+ since 2017) are unique to NYC. The 21st-century media franchise at Oaklins DP, the global tech franchise at GP Bullhound, and the cross-border tech/SaaS franchise at Drake Star all operate from NYC because the buyer pool is geographically dense around midtown and downtown Manhattan.

The sectoral mix matters too. NYC's tech and SaaS depth produces a predictable buyer pool of NYC-headquartered growth-equity and PE platforms. The media/information cluster drives a defined set of strategic acquirers (Penguin Random House, HarperCollins, Hachette, Vistria, EagleTree, Banyan Software for software roll-ups). The financial-institutions and fintech base produces direct relationships between NYC FIG advisors and the regional bank, RIA-channel, and fintech-consolidator buyer pool.

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What Should I Look For in a NYC M&A Advisor?

Three filters matter more than firm prestige for $5M-$100M deals:

1. Sub-sector deal density. A NYC advisor who has closed 10 software, education, healthcare-tech, AdTech, MarTech, digital-infrastructure, or insurance-broker rollup transactions in the last three years will run a tighter process than a generalist who has closed 50 deals across 15 sectors. Sub-sector density compounds: the advisor knows which NYC PE platforms are active, which strategic acquirers are filling holes in their footprint, what working capital adjustments are standard, and what customer concentration thresholds will trigger an earnout. Ask any candidate NYC advisor to name five recent buyers of comparable businesses in your sector. If they cannot, move on.

2. Buyer Rolodex relevance. The right NYC advisor maintains direct relationships with the 30-50 buyers most likely to acquire your specific business. For a $30M SaaS business, that means relationships with Insight Partners, General Atlantic, TA Associates, Francisco Partners, Vista Equity Partners, and the public-software strategic acquirers (Adobe, Salesforce, Microsoft, ServiceNow). For a $50M media business, that means relationships with Penguin Random House, HarperCollins, Hachette, Vistria Group, EagleTree Capital, and Banyan Software. For a $25M insurance brokerage rollup, that means relationships with HUB International, World Insurance Associates, ALKEME, Confie, and the PE-backed insurance consolidators. For a $20M digital-infrastructure platform, that means relationships with King Street Capital, Patria Investments, and the data-center PE platforms. A bigger firm with a thinner relationship-per-buyer ratio runs slower processes than a boutique with deep relationships in your sub-sector.

3. Process discipline. The fast NYC advisors (Solomon, Berkery Noyes, JEGI LEONIS, Oaklins DP, Drake Star, Progress Partners, GP Bullhound, MidCap, DH Capital) run 4-6 month processes from engagement to close. The slow ones run 9-12 month processes. The difference is preparation, not market conditions. Fast advisors arrive at engagement with the QofE provider already engaged, the data room template ready to populate, and the management team pre-briefed on buyer presentation expectations. Slow advisors do that work after engagement, which means the first 6 weeks of your exclusivity window evaporate before the first buyer call.

For deeper context on M&A preparation and the due diligence process, see our M&A guides. For data room setup specifically, our M&A data room guide covers what advisors expect to see ready by week 1 of the engagement. The companion Dallas, Chicago, Atlanta, and Houston city guides cover the same tier framework applied to other US metros.

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Which NYC M&A Advisors Handle $25M-$100M Mid-LMM Deals?

For $25M-$100M EV mid-LMM deals out of NYC, five firms anchor the band: Solomon Partners (the institutional independent), Berkery Noyes & Co. (the information-industry specialist), JEGI LEONIS (the media/info dominant), Oaklins DeSilva+Phillips (the 21st-century media franchise), and Drake Star Partners (the cross-border tech/SaaS franchise). All five run senior-banker-led processes and have direct relationships with the strategic acquirers and PE platforms buying at this size.

1. Solomon Partners

Headquarters: 1345 Avenue of the Americas, New York NY 10105 Founded: 1989 by Peter J. Solomon Team: CEO Marc S. Cooper; Founder and Chairman Peter J. Solomon; Vice Chairman Kenneth Baronoff; FIG Partner Tannon Krumpelman (joined April 2025); senior bench across 12+ verticals Deal size: $50M-$1B+ EV (flexes down on sector specialty) Sectors: Business services, consumer retail, financial institutions, fintech, healthcare, media, technology, energy, industrials, real estate Track record: Approximately 17 published trailing-12-month transactions across the firm's 12+ vertical practices

Solomon Partners is the independent NYC boutique with an institutional-quality bench dating to 1989. Peter J. Solomon founded the firm in 1989 after a senior career at Lehman Brothers; today the firm runs as an independent advisor with a Natixis affiliate relationship that extends balance-sheet and cross-border capability. CEO Marc S. Cooper runs the firm's day-to-day, with Vice Chairman Kenneth Baronoff anchoring senior-banker depth. Tannon Krumpelman joined as a FIG Partner in April 2025, deepening the firm's financial-institutions practice in a market where NYC FIG depth is structurally important.

Recent closes: Willow Innovations acquired Elvie's assets after Elvie entered administration (announced March 28, 2025, consumer health); Wilshire's transaction with XTP (March 2025, financial-services platform); approximately 17 published trailing-12-month transactions across business services, financial institutions, fintech, healthcare, media, and tech.

Best for: Sellers in $50M-$1B+ EV deals across NYC's broadest set of verticals who want an independent boutique with the depth to run institutional-quality processes against bulge-bracket competitors. Solomon's 1989-founded NYC institutional bench and 12+ vertical practices make the firm a default first-call for sellers in financial institutions, fintech, business services, and consumer retail at this size.

Considerations: Solomon's deal size sweet spot starts at $50M EV. For sub-$25M deals, the Tier B and Tier C boutiques are the closer fits.

solomonpartners.com

2. Berkery Noyes & Co.

Headquarters: 245 Park Avenue, New York NY Founded: 1983 by Joseph W. Berkery Team: Founder and Chairman Joseph W. Berkery; 11 Partners and 3 Principals; sector MDs include Martin Arentoft (software), Mary Jo Zandy (education), David Loechner (media and events), Lou Grecco (healthcare), Peter Ognibene (fintech and edtech), Martin Magida (software and corporate finance) Deal size: $25M-$300M EV Sectors: Information industry -- education, media, software, healthcare, publishing, fintech, edtech Track record: Owns MandAsoft proprietary deal database since 2004; deepest information-industry track record among NYC boutiques

Berkery Noyes is the NYC specialist for the information industry -- education, media, software, healthcare, publishing, fintech, and edtech. Joseph W. Berkery founded the firm in 1983; today the firm runs with 11 Partners and 3 Principals across sub-vertical specialties. The firm built and operates MandAsoft, a proprietary deal database since 2004 that powers Berkery Noyes' research-driven buyer outreach -- a structural advantage few NYC boutiques can replicate. Sector MDs include Martin Arentoft on software, Mary Jo Zandy on education, David Loechner on media and events, Lou Grecco on healthcare, Peter Ognibene on fintech and edtech, and Martin Magida on software and corporate finance.

Recent closes: Ally Pediatric Therapy acquired by ACES (announced January 15, 2026, healthcare services); Tambellini Group acquired by MGT-Vistria (announced March 4, 2025, education research and advisory); Origin Editorial acquired by KnowledgeWorks (announced March 4, 2025, scholarly publishing services); collectionHQ acquired by Valsoft (announced June 27, 2025, library services software); Principle Diagnostics acquired by Aqueous Health (announced July 2, 2025, healthcare diagnostics); TCI acquired by Francisco Partners (May 3, 2024, software).

Best for: Sellers in $25M-$300M EV information-industry deals -- education, media, software, healthcare, publishing, fintech, and edtech -- where 40+ years of sub-vertical relationship density compounds the buyer outreach. Berkery Noyes' education and information-publishing track record is the deepest of any NYC boutique.

Considerations: Berkery Noyes runs information-industry mandates by structural design. For energy, industrial, or specialty manufacturing engagements, other firms are the right fits.

berkerynoyes.com

3. JEGI LEONIS (JCL)

Headquarters: 150 East 52nd Street, 18th Floor, New York NY Founded: Formed by the September 8, 2025 merger of JEGI CLARITY (founded 1987 by Wilma Jordan) and Leonis Partners (founded 2013 by Robert Koven); merger announced March 10, 2025; rebrand to JEGI LEONIS completed September 2025 Team: Co-CEO North America Robert Koven; Co-CEO North America Scott Mozarsky (former Bowne & Co. and Pearson executive); Founder and Executive Chair North America Wilma Jordan (37 years media/info history); President and COO Doug Stowe Deal size: $25M-$1B+ EV Sectors: Media, marketing, information, technology, software, fintech, legal, events Track record: 35 transactions across the combined 2024 deal production of JEGI CLARITY and Leonis Partners (~$5B aggregate); most active middle-market media/info/tech advisor in NYC post-merger

JEGI LEONIS is the most active middle-market media, marketing, information, and tech M&A advisor in NYC post-merger -- the firm was formed by the September 8, 2025 merger of JEGI CLARITY (founded 1987 by Wilma Jordan) and Leonis Partners (founded 2013 by Robert Koven), with the merger announced March 10, 2025 and the rebrand to JEGI LEONIS completed September 2025. Co-CEO North America Robert Koven and Co-CEO North America Scott Mozarsky run the post-merger firm, with Wilma Jordan as Executive Chair North America bringing 37 years of operator-and-advisor relationships across media and information. President and COO Doug Stowe runs operations.

Recent closes: The combined 2024 deal production of JEGI CLARITY and Leonis Partners (which became JEGI LEONIS post-merger) was 35 transactions with aggregate deal value approximately $5B. 2025 closes include Ai4 acquired by CloserStill Media (advised by JEGI CLARITY, now JEGI LEONIS post-merger; announced March 28, 2025, AI events platform); SAMY Alliance acquired Intermate (announced April 30, 2025, influencer marketing); The Shipyard acquired TinyWins (announced May 31, 2025, marketing services); Touchpoint Markets acquired by Arc Holdings / EagleTree (announced July 8, 2025, B2B media platform).

Best for: Sellers in $25M-$1B+ EV media, marketing, information, technology, software, fintech, legal, and events deals where 37 years of operator-relationship depth (Wilma Jordan's network) and post-merger buyer Rolodex (Koven's growth equity relationships) compress the buyer outreach cycle. JEGI LEONIS is the default first-call for media-and-information sellers in the upper LMM and middle market.

Considerations: JEGI LEONIS runs media-info-tech mandates by structural design. For energy, industrials, or specialty manufacturing engagements, other firms are the right fits.

jl-co.com

4. Oaklins DeSilva+Phillips

Headquarters: 90 Park Avenue, 24th Floor, New York NY 10016 Founded: 1996 by Roland DeSilva and Reed Phillips III Team: Managing Partner Reed Phillips III (Crain's Notable M&A Dealmaker); Partner and Co-head of Global TMT Joanna Stone; Partner and Head of Digital Media Jay Kirsch Deal size: $25M-$500M EV Sectors: Media, communications, digital tech, content, marketing services, education, publishing Track record: Self-described leading M&A advisor to media/communications/digital tech -- "more 21st century media deals than any other I-bank"; Crain's recognition for two simultaneous partners signals tier-leading dealmaker density

Oaklins DeSilva+Phillips is NYC's media, communications, and digital-tech franchise, founded in 1996 by Roland DeSilva and Reed Phillips III. Managing Partner Reed Phillips III is recognized on Crain's New York Business 100 Most Active Dealmakers list as a Notable M&A Dealmaker -- the editorially curated list that recognizes individual NYC bankers. Partner Joanna Stone Co-heads Global TMT; Partner Jay Kirsch runs Digital Media. The firm's positioning -- "more 21st century media deals than any other I-bank" -- captures structural dominance in the post-2000 media-tech consolidation wave.

Recent closes: Workman Publishing's $240M sale to Hachette (book publishing strategic carve-in); Cider Mill Press acquired by HarperCollins (book publishing roll-up); Hay House acquired by Penguin Random House (mind-body-spirit publishing); Network Media's transaction with Jellysmack (creator economy); Amplify Publishing's 2025 transaction (independent publisher consolidation).

Best for: Sellers in $25M-$500M EV media, communications, digital tech, content, marketing services, education, and publishing deals where 21st-century media-tech relationship density (Phillips's 30+ years of media banking) compresses the buyer Rolodex to the right 30-50 strategic and PE-platform acquirers. Oaklins DP's book-publishing franchise is the deepest of any NYC boutique.

Considerations: Oaklins DP runs media/communications/digital-tech mandates. For SaaS pure-play, FIG, or industrial engagements, other firms are the closer fits.

oaklins.com/dp

5. Drake Star Partners

Headquarters: 950 Third Avenue, 20th Floor, New York NY 10022 Founded: 2003 by Gregory Bedrosian (Managing Partner and Global CEO since 2004) and Ralf Philipp Hofmann; firm cites 500+ transactions since 2003 Team: Managing Partner and Global CEO Gregory Bedrosian; NYC Managing Partner James Turino Deal size: $25M-$500M EV; $22B+ aggregate; 500+ transactions Sectors: Software/SaaS, HR Tech, FinTech, Digital Media, Mobility & Sustainability, Consumer Tech, Industrial Tech Track record: 10 "I-Bank of Year" recognitions and 45+ "Deal of Year" awards; strongest cross-border tech/SaaS franchise of NYC boutiques

Drake Star Partners is the strongest cross-border tech and SaaS franchise of any NYC boutique. Gregory Bedrosian and Ralf Philipp Hofmann co-founded the firm; Bedrosian runs as Managing Partner and Global CEO, with NYC Managing Partner James Turino anchoring the New York practice. The firm has closed 500+ transactions with aggregate deal value above $22B and operates with award-recognition density unusual among NYC boutiques (10 "I-Bank of Year" recognitions and 45+ "Deal of Year" awards). Sub-sector dominance: HR Tech, FinTech, Digital Media, Mobility & Sustainability, and Consumer Tech.

Recent closes: Ready Player Me acquired by Netflix (consumer tech / metaverse); PlayHQ acquired by Alpine Software Group (sports tech); Vault Verify acquired by Equifax (HR Tech / verification); Attentive.ai growth round from Insight Partners (AI / SaaS); Gini acquired by Banyan Software (vertical SaaS roll-up); aconso acquired by Keensight Capital (German HR Tech); VEDA Group acquired by LOHNunion (German HR Tech); EXFO Adaptive Assurance acquired by NumoData (telecom test automation); Eir's €20M FinTech round from Endeit Capital (cross-border FinTech).

Best for: Sellers in $25M-$500M EV software/SaaS, HR Tech, FinTech, Digital Media, Mobility, and Consumer Tech deals where cross-border buyer relationships (European and Asian strategics, transatlantic PE platforms) extend the buyer pool. Drake Star's HR Tech sub-sector dominance is the strongest of any NYC boutique.

Considerations: Drake Star runs tech-and-tech-enabled mandates. For pure-play media/info, FIG, healthcare-services, or industrial engagements, other firms are the closer fits.

drakestar.com

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Which NYC M&A Advisors Handle $10M-$25M Low-LMM Deals?

For $10M-$25M EV low-LMM deals, five NYC firms own this band: Progress Partners (the highest verified LMM volume in trailing 24 months), GP Bullhound (the global tech pure-play with co-investment capability), DH Capital (the most active digital-infrastructure boutique in NYC), Triangle Capital LLC (the consumer/retail and ESOP specialist), and Three Ocean Partners (the hybrid merchant-bank with principal-investment capability).

6. Progress Partners

Headquarters: 405 Lexington Avenue, Suite 830, New York NY 10174 (Boston co-equal HQ) Founded: ~2003 (20+ year operating history) Team: Senior banker bench across NYC and Boston offices running media, marketing, AdTech, MarTech, supply-chain tech, and HR services mandates Deal size: $10M-$100M EV LMM Sectors: Media, marketing, AdTech, MarTech, supply-chain tech, HR services Track record: 12+ closed transactions in the trailing 24 months -- the highest verified LMM deal volume of any NYC boutique in this band

Progress Partners is the highest-verified-volume NYC LMM boutique in the $10M-$100M EV band, with 12+ closed transactions over the trailing 24 months. The firm has 20+ years of operating history with co-equal NYC and Boston offices, and a structural focus on media, marketing, AdTech, MarTech, supply-chain tech, and HR services mandates. The firm's positioning is volume-led: rather than deep sub-vertical specialization, Progress Partners runs many small to mid-LMM deals concurrently with senior-banker bench depth across both offices.

Recent closes: MP Wired for HR acquired by OneDigital (April 16, 2026, HR services consolidation); Rocket Lab acquired by MiQ (April 7, 2026, programmatic advertising); Keynes growth round from Volition Capital ($40M minority, March 31, 2026); TrueData acquired by ID5 (November 12, 2025, identity resolution); CCRA International acquired by LO3-Tamarix (October 31, 2025, travel agency consolidation); AgileFleet acquired by Banyan Software (June 5, 2025, fleet management SaaS); Content Lab acquired by SAMY Alliance (January 22, 2025, content marketing); Sabre Systems' transaction with CM Equity (September 27, 2024); Pathlabs acquired by MiQ (September 4, 2024, programmatic advertising); XSB acquired by Exiger (August 13, 2024, supply-chain risk); Bibliotheca CloudLibrary acquired by OCLC (April 2, 2024, library services); DART Innovation acquired by Quad (February 6, 2024, marketing services).

Best for: Sellers in $10M-$100M EV media, marketing, AdTech, MarTech, supply-chain tech, and HR services deals where verified deal velocity and AdTech/MarTech buyer-pool depth matter more than firm-name prestige. Progress Partners' trailing-24-month transaction volume is the highest of any NYC boutique in this size band.

Considerations: Progress Partners' sub-vertical depth in financial institutions, healthcare-services, or industrial engagements is thinner than the sector specialists. For dedicated FIG, healthcare-services, or industrial mandates, other firms are the closer fits.

progresspartners.com

7. GP Bullhound

Headquarters: 489 Fifth Avenue, 34th Floor (Penthouse), New York NY 10017 Founded: 1999 by Hugh Campbell, Per Roman, Manish Madhvani, and Christian Lagerling (London origin); NYC opened to serve the major US tech hub Team: Partner and NY Head Greg Smith; senior-banker bench across the Atlantic Deal size: $25M-$500M EV; 700+ transactions; $58B aggregate Sectors: Tech (software/SaaS, consumer tech, fintech, digital services, AI, marketplace) Track record: Independent global tech-pure-play boutique; Bullhound Capital co-investment arm with €1bn+ AUM

GP Bullhound is the independent global tech pure-play, founded in 1999 by Hugh Campbell, Per Roman, Manish Madhvani, and Christian Lagerling in London. The NYC office, led by Partner and NY Head Greg Smith, opened to serve the major US tech hub and runs partner-led processes across software/SaaS, consumer tech, fintech, digital services, AI, and marketplace. Firm aggregate exceeds 700 transactions with $58B in deal value. Structural advantage: GP Bullhound operates Bullhound Capital, a co-investment arm with €1bn+ AUM that gives sellers a dual-track liquidity option (sale to a third-party strategic, or partial liquidity via the Bullhound Capital platform).

Recent closes: Flo Health $200M+ Series C from General Atlantic (announced July 30, 2024, women's health AI; valuation above $1B); DKC's majority sale to Acceleration Community of Companies (September 2024, public-relations roll-up); SuccessDay acquired by CloudRock (January 7, 2026, partner-management SaaS).

Best for: Sellers in $25M-$500M EV tech, SaaS, consumer tech, fintech, AI, and marketplace deals where global buyer relationships (European, US, and Asian strategic and PE platform reach) extend the buyer pool beyond a US-only Rolodex. GP Bullhound's Bullhound Capital co-investment capability is structurally distinct from any other NYC tech boutique.

Considerations: GP Bullhound runs tech-pure-play mandates. For media-pure-play, FIG, healthcare, or industrial engagements, other firms are the closer fits.

gpbullhound.com

8. DH Capital, a division of Citizens

Headquarters: 810 Seventh Avenue, Suite 2005, New York NY 10019 (also Boulder CO) Founded: 2001; acquired by Citizens Financial Group June 2022 (autonomous unit retains DH Capital brand) Team: Managing Partner Jesse Degroff; senior partners Brian Browne, Dean Mann, Patrick Doyle Deal size: $25M-$500M EV; 200+ M&A transactions; ~$60B aggregate; $44B+ in digital infrastructure since 2017 Sectors: Digital infrastructure (data centers, internet infra), telecommunications, cloud, managed services, SaaS Track record: Most active digital-infrastructure M&A boutique in NYC during the 2024-2025 data-center supercycle

DH Capital is the most active digital-infrastructure M&A boutique in NYC during the 2024-2025 data-center supercycle. Founded 2001, the firm was acquired by Citizens Financial Group in June 2022 and operates as an autonomous unit retaining the DH Capital brand. Managing Partner Jesse Degroff anchors the senior team alongside partners Brian Browne, Dean Mann, and Patrick Doyle. Firm aggregate: 200+ M&A transactions, ~$60B aggregate value, and $44B+ in digital infrastructure since 2017 -- the deepest single book of digital-infrastructure mandates among NYC boutiques. The Citizens parent extends balance-sheet capability (financing, lending) to complement the M&A advisory practice.

Recent closes: Hivelocity acquired Colohouse (April 15, 2024, edge data center consolidation); Colovore acquired by King Street Capital (May 20, 2024, AI-optimized colocation); Patria Investments hyperscale data center platform sale (2024-2025, multi-asset transaction). The 2025 US digital-infrastructure market reached approximately $202B, roughly 2x the 2024 figure -- positioning DH Capital's mandate book at the structural center of the supercycle.

Best for: Sellers in $25M-$500M EV digital infrastructure, data centers, telecommunications, cloud, managed services, and SaaS deals where the buyer pool tilts toward infrastructure-PE platforms (King Street, Patria, KKR Infrastructure, Stonepeak), strategic acquirers (Equinix, Digital Realty, Iron Mountain), and hyperscale data-center consolidators. DH Capital's $44B+ since 2017 is the deepest verified digital-infrastructure track record of any NYC boutique.

Considerations: DH Capital is borderline boutique -- the autonomous unit retains its brand but is a division of a $200B+ commercial bank. For sellers wanting a pure-play independent boutique without bank-affiliate disclosures, GP Bullhound or Drake Star are the closer fits in the broader tech infrastructure space.

dhcapital.com

9. Triangle Capital LLC

Headquarters: New York NY (also Chicago) Founded: 2003 by senior bankers from leading Wall Street firms Team: Co-founder with 30+ years of investment-banking experience; senior team across NYC and Chicago offices Deal size: $10M-$100M EV core Sectors: Apparel, accessories, retail, consumer; tech and digital within commerce; ESOP transactions; recapitalizations; growth capital Track record: 59 deals total per PitchBook records

Triangle Capital LLC is a NYC and Chicago boutique founded in 2003 by senior bankers from leading Wall Street firms. The firm runs across consumer/retail (apparel, accessories), commerce-anchored tech and digital, ESOP transactions, recapitalizations, and growth-capital mandates -- one of the deepest consumer/retail benches among NYC boutiques. Among LMM peers, Triangle's ESOP advisory practice is uncommon -- the structural ability to advise on Employee Stock Ownership Plan transactions for $10M-$100M EV consumer and tech-enabled commerce businesses makes Triangle a default first-call for sellers exploring ESOP exits as an alternative to PE platform sales.

Recent closes: Active 2024-2025 mandate book across consumer/retail, ESOP transactions, and commerce-anchored tech mandates. Specific deal-by-deal attribution depends on PitchBook listings and firm transaction wall.

Best for: Sellers in $10M-$100M EV apparel, accessories, retail, consumer, tech-enabled commerce, ESOP transitions, and recapitalizations who want one of the deepest consumer/retail benches among NYC LMM boutiques. Triangle's ESOP advisory practice is structurally distinct in this size band.

Considerations: Triangle's specific 2024-2026 deal trail is lighter in public listings than Progress Partners or DH Capital. Ask for closed-deal references during the pitch process.

trianglecapitalllc.com

10. Three Ocean Partners

Headquarters: 551 Fifth Avenue, Suite 3800, New York NY 10176 Founded: 2011 Team: Managing Partner David Knowlton; 14 employees; ownership across employees, prominent families, and CEOs Deal size: $25M-$200M EV Sectors: Generalist mid-market merchant banking advisory and principal investing Track record: Hybrid advisory and co-investment business model; peer set includes BDT Capital, Raine Group, Lepe Partners

Three Ocean Partners is a NYC mid-market merchant banking firm founded in 2011, structured as a hybrid advisory and principal-investment business -- the peer set is BDT Capital, Raine Group, and Lepe Partners. Managing Partner David Knowlton anchors the senior team of 14 employees, with ownership distributed across employees and prominent families and CEOs who back the firm's deal flow. The structural advantage: Three Ocean can advise on a transaction and co-invest alongside the buyer, providing transaction-aligned capital that pure-play advisory boutiques cannot offer. Active mandate book includes 8 buy-side mandates tracked publicly; the firm advised on a BC Partners 2024 mandate.

Recent closes: BC Partners 2024 advisor mandate; 8 buy-side mandates tracked across the firm's hybrid advisory and principal-investing book.

Best for: Sellers in $25M-$200M EV deals where transaction-aligned capital (advisor co-investing 5-15% alongside the buyer) compresses the negotiation timeline and provides equity rollover or partial liquidity options. Three Ocean's prominent-family deal flow makes the firm a default first-call for family-owned sellers in NYC seeking discreet, relationship-driven processes.

Considerations: Three Ocean is generalist by sector design -- the firm does not match a sector-specialist boutique like Berkery Noyes or HGP on sub-vertical relationship density. For sellers wanting deep sector expertise, the specialists are the closer fits.

threeoceanpartners.com

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Which NYC M&A Advisors Handle $5M-$15M Sub-LMM Deals?

For $5M-$15M EV sub-LMM deals, four NYC firms own this band: MidCap Advisors (the highest Tier C velocity in NYC, 20+ deals in 18 months), FE International (the online-business and SaaS sub-$20M specialist), Synergy Business Brokers (the Westchester / NY/NJ/CT pure success-fee model), and Murphy Business of New York (the franchise-model with a national 50+ state buyer network).

11. MidCap Advisors

Headquarters: 675 Third Avenue, 28th Floor, New York NY 10017 (also Chicago, Boston, Philadelphia, Kansas City) Founded: 1989 by Douglas T. Hendrickson and John D. Poppe Jr. (both ex-Chemical Bank / JPMorgan Chase) Team: Co-founders Hendrickson and Poppe; Partners Frank Robertson, MD Ryan Sanford, MD Scott Yoder, MD Richard Groberg, MD Michael Fitzgerald, MD Chip Loeb, MD Paul Kanarek; 36 total professionals Deal size: $5M-$50M EV core; $4B+ aggregate over 20+ years Sectors: Insurance, retirement and wealth advisory, healthcare, industrials and services, education Track record: Highest verified Tier C transaction velocity in NYC -- 20+ closed deals in 18 months; deepest insurance-broker rollup practice in the metro

MidCap Advisors is the highest-velocity Tier C NYC boutique with 20+ closed transactions in the trailing 18 months, founder-led 35+ years by Douglas T. Hendrickson and John D. Poppe Jr. -- both came out of Chemical Bank / JPMorgan Chase and founded the firm in 1989. The senior bench includes Partners Frank Robertson, MDs Ryan Sanford, Scott Yoder, Richard Groberg, Michael Fitzgerald, Chip Loeb, and Paul Kanarek across the firm's 36 professionals. Structural advantage: MidCap runs the deepest insurance-broker rollup practice in NYC, with sub-vertical relationships into the platform consolidators (HUB International, World Insurance Associates, ALKEME, Confie).

Recent closes: CCCI acquired by Velociti (March 11, 2026, services); ASZ International acquired by SterlingRisk (March 2, 2026, insurance brokerage rollup); Acuity Consulting acquired by AttivoERP (January 5, 2026, IT services); Island Reproductive acquired by IVI RMA NA (December 10, 2025, healthcare); Pumping Solutions acquired by Hidden Harbor (September 1, 2025, industrials); CollegePlannerPro acquired by The Brydon Group (August 27, 2025, education SaaS); Novum Underwriting acquired by Steadfast (August 26, 2025, insurance underwriting); NEMC acquired by a corporate buyer (August 15, 2025); Innovative Insurance acquired by ALKEME (June 27, 2025, insurance rollup); Building Infrastructure acquired by LINX (May 21, 2025, industrials); Healey & Associates acquired by World Insurance (May 1, 2025, insurance rollup); 6+ insurance rollups closed in March 2025 alone; TGS Insurance acquired by Confie (January 12, 2025); Woods Insurance acquired by HUB (December 31, 2024); Rocky Mountain Fertility acquired by Onto Health (December 16, 2024).

Best for: Sellers in $5M-$50M EV deals across insurance brokerage, retirement and wealth advisory, healthcare, industrials and services, and education who want a senior-banker-led boutique with the highest verified Tier C transaction velocity in NYC. MidCap's insurance-broker rollup practice is the deepest in the metro.

Considerations: MidCap's sub-vertical depth in tech/SaaS or media/info is thinner than Drake Star, GP Bullhound, JEGI LEONIS, or Berkery Noyes. For dedicated tech/SaaS or media/info engagements, those firms are the closer fits.

midcapadvisors.com

12. FE International

Headquarters: 75 Rockefeller Plaza, 19th Floor, New York NY 10019 (also London, Miami, San Francisco, Warsaw, Mumbai) Founded: 2010 by Thomas Smale (CEO) and Ismael Wrixen (Executive Chairman) Team: CEO Smale; Executive Chairman Wrixen; Partner Dirk Sahlmer (joined 2024-2025); senior leaders Max Alderman, Anastasia Buraminskaya, Jake Olivieri, Ken Kubec, Allan Mooney, Marina Vizdoaga, Nate Lind Deal size: $250K-$20M EV (lower deal floor than any peer) Sectors: SaaS, e-commerce, content, agency / marketing, AI, cybersecurity, EdTech, FinTech, marketplace apps Track record: 1,500+ cumulative transactions; $50B+ combined value (firm aggregate); 5x Inc. 5000 honoree (2020-2024)

FE International is NYC's only true online-business and SaaS-founder-side advisor at the sub-$20M EV band, founded 2010 by Thomas Smale (CEO) and Ismael Wrixen (Executive Chairman). The firm's senior bench includes Partner Dirk Sahlmer, who joined in 2024-2025, alongside senior leaders Max Alderman, Anastasia Buraminskaya, Jake Olivieri, Ken Kubec, Allan Mooney, Marina Vizdoaga, and Nate Lind. The firm has been a 5x Inc. 5000 honoree (2020-2024) with 1,500+ cumulative transactions and $50B+ combined value. Structural advantage: FE International is the only NYC boutique with deep buyer relationships in SaaS, Amazon FBA, content, and e-commerce sub-verticals where generalist boutiques lack the operator-buyer pool.

Recent closes: MemberLeap acquired by Valsoft Lighthouse (member-management SaaS); Evalart acquired by Noosa Labs (assessment platform); PositivePsychology.com 8-figure exit (content); FoxyBae 8-figure exit (e-commerce / DTC); DropFunnels (sales-funnel SaaS); Upright Labs Enterprise SaaS exit.

Best for: Sellers in $250K-$20M EV SaaS, e-commerce, content, agency / marketing, AI, cybersecurity, EdTech, FinTech, and marketplace deals who want a NYC-headquartered specialist with the deepest sub-$20M online-business buyer pool. FE International's lower deal floor ($250K minimum EV) is structurally distinct from any other NYC boutique.

Considerations: FE International's fee structure on sub-$5M deals runs 8-15% flat percentage rather than Lehman scale -- the math reflects the operator-buyer pool, not strategic-buyer M&A economics. For sellers above $20M EV, Drake Star, GP Bullhound, or Progress Partners are the closer fits.

feinternational.com

13. Synergy Business Brokers

Headquarters: 7 Schuyler Street, New Rochelle NY 10801 (Westchester County); brokers across Manhattan, Long Island, Westchester, Hudson Valley Founded: 2002 by Blake Taylor (President and Founder) Team: Founder Blake Taylor; Senior Broker NYC Grant Taylor; Senior M&A Advisors Mike Farruggia (NY/NJ), Sam Livne (NYC), Matt Thomas (CBI/CEPA), Chris Sampras Deal size: $700K-$250M revenue (most $1M-$50M revenue → $5M-$25M EV) Sectors: Manufacturing, technology, services, healthcare, distribution, construction, transportation Track record: "Hundreds of companies sold"; 2025 Inc. 5000 honoree; 40,000+ buyer database

Synergy Business Brokers is the NYC LMM broker with a structurally distinctive success-fee-only model -- no retainer, distinguishing the firm from every other NYC boutique on this list. Founded 2002 by Blake Taylor in Westchester County, the firm runs senior M&A advisors across Manhattan, Long Island, Westchester, and Hudson Valley. Senior team includes Founder Taylor, Senior Broker NYC Grant Taylor, and Senior M&A Advisors Mike Farruggia (NY/NJ), Sam Livne (NYC), Matt Thomas (Certified Business Intermediary / Certified Exit Planning Advisor), and Chris Sampras. The firm has cultivated a 40,000+ buyer database -- the largest among NYC LMM brokers -- and lists hundreds of companies sold across its 23+ year operating history.

Recent closes: Active 2024-2026 mandate book across manufacturing, tech, services, healthcare, distribution, construction, and transportation. The firm references hundreds of companies sold and earned 2025 Inc. 5000 recognition; specific deal-by-deal public attribution is lighter than the Tier A and Tier B firms because the broker model emphasizes confidential listings.

Best for: Sellers with $1M-$10M revenue NY/NJ/CT businesses without retainer liquidity who want a pure success-fee model and the largest cultivated NYC buyer database. Synergy's no-retainer structure is distinctive in NYC where most boutiques charge $25K-$100K retainers at engagement.

Considerations: Synergy operates as a broker model with a 12-24 month tail and emphasizes confidential listings rather than public press releases. Ask for closed-deal references and average days-on-market for prior listings during the pitch process.

synergybb.com

14. Murphy Business of New York

Headquarters: Long Island and NYC metro franchise locations (Murphy corporate HQ in Florida) Founded: Murphy Business franchise network operating in NY metro; each NY broker carries Senior M&A Advisor or Certified M&A Advisor designation under the Murphy umbrella Team: Murphy NY franchise principal team across multiple metro offices Deal size: $1M-$25M revenue (Main Street and lower-LMM); EBITDA over $1M for M&A practice; transactions reach $90M peak; Murphy Mergers & Acquisitions arm targets $1M+ EBITDA Sectors: Generalist LMM -- manufacturing, services, distribution, healthcare, construction, technology Track record: Active 2024-2026 mandate book under Murphy's national franchise network spanning 50+ states

Murphy Business of New York operates as the NYC and Long Island franchise of the Murphy Business national network, with corporate headquarters in Florida and NY franchise offices across Long Island and the NYC metro. Each NY broker carries Senior M&A Advisor or Certified M&A Advisor designation under the Murphy umbrella, and the Murphy Mergers & Acquisitions arm specifically targets $1M+ EBITDA businesses. The firm's structural advantage is the Murphy national franchise network -- when the buyer pool for a NY-listed business is geographically diffuse (manufacturers in PA, Ohio, or the Midwest; services consolidators in the Sun Belt; distribution platforms in the South), Murphy NY brokers tap the firm's 50+ state operator-buyer network rather than running NY-only outreach.

Recent closes: Active 2024-2026 mandate book across manufacturing, services, distribution, healthcare, construction, and technology in the $1M-$25M revenue band. The transaction wall reaches $90M peak deal value but most closes sit in the sub-$10M EV main-street and lower-LMM band where the Tier 4 institutional boutiques decline engagements.

Best for: Sellers with $1M-$25M revenue NY-headquartered businesses who want a generalist LMM broker with access to a national 50+ state buyer network. Murphy NY brokers are best for sub-$10M EV transitions where the buyer pool is geographically diffuse and a Manhattan-only Rolodex would be too narrow.

Considerations: Murphy NY operates under franchise economics rather than a single firm bench -- service depth and senior-advisor experience varies by franchise principal. Ask which specific NY franchise broker will run the engagement and request 2-3 closed-deal references from the past 18 months.

murphybusiness.com/new-york

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What Recent NYC M&A Deals Show How These Advisors Actually Work?

Three closed NYC-tied transactions from April 2024 through February 2026 show the spread of the metro's boutique M&A market across education-tech, insurance brokerage, and digital infrastructure: Berkery Noyes' Tambellini Group sale to MGT-Vistria (announced March 4, 2025), MidCap Advisors' ASZ International sale to SterlingRisk (announced March 2, 2026), and DH Capital's Hivelocity acquisition of Colohouse (announced April 15, 2024). Each deal demonstrates why NYC's middle-market boutique bench is competitive nationally on transactions where sub-vertical relationship density compresses the buyer pool from 200 generalists to 30-50 highly relevant strategic and PE-platform acquirers.

Deal 1 (Tech / Education-Information): Berkery Noyes-Advised Tambellini Group Sale to MGT-Vistria

Buyer: MGT (an education-services platform majority-owned by The Vistria Group) Target: Tambellini Group (NYC / Northeast education-research and advisory firm serving higher-education and K-12 leaders) NYC advisor: Berkery Noyes & Co. served as exclusive financial advisor to Tambellini Group Announced: March 4, 2025

The Tambellini Group transaction is a NYC education-research and advisory firm acquired by an education-services platform majority-owned by Vistria Group, a Chicago-headquartered impact-focused PE platform with deep education-services holdings. Berkery Noyes ran the sell-side mandate end-to-end with MD Mary Jo Zandy anchoring the education sub-vertical relationship to Vistria's portfolio strategy. The deal sits alongside Berkery Noyes' other 2025 closes (Origin Editorial to KnowledgeWorks March 4, collectionHQ to Valsoft June 27, Principle Diagnostics to Aqueous Health July 2) and the January 2026 close of Ally Pediatric Therapy to ACES.

Why this matters for NYC sellers in the $5M-$100M range: Education-research, education-services, and information-publishing transactions concentrate disproportionately in NYC advisor mandates because the information-industry boutiques (Berkery Noyes since 1983, JEGI LEONIS post-merger, Oaklins DP) maintain direct relationships with the education-services PE platforms (Vistria, EagleTree, Banyan Software for SaaS roll-ups) that anchor the buyer pool. For NYC education-and-information sellers in the lower-middle-market, the Tambellini-Vistria deal demonstrates the depth of strategic and PE-platform capital available through Berkery Noyes' MandAsoft proprietary database and 40+ year sub-vertical Rolodex.

Deal 2 (Insurance / Services): MidCap-Advised ASZ International Sale to SterlingRisk

Buyer: SterlingRisk (NYC-headquartered insurance brokerage and consulting firm; specialty programs and risk management) Target: ASZ International (NYC-area insurance brokerage with specialty commercial-lines program book) NYC advisor: MidCap Advisors served as exclusive financial advisor to ASZ International Announced: March 2, 2026

The ASZ International acquisition is a NYC-to-NYC insurance brokerage rollup where ASZ International's specialty commercial-lines book consolidated into SterlingRisk's broader platform. MidCap Advisors ran the sell-side mandate end-to-end as part of the firm's deep insurance-broker rollup practice. The deal sits alongside MidCap's 20+ insurance-related closes in the trailing 18 months -- TGS Insurance to Confie (January 12, 2025), Woods Insurance to HUB (December 31, 2024), Healey & Associates to World Insurance (May 1, 2025), Innovative Insurance to ALKEME (June 27, 2025), six insurance rollups in March 2025, Novum Underwriting to Steadfast (August 26, 2025), and CCCI to Velociti (March 11, 2026).

Why this matters for NYC sellers in the $5M-$100M range: Insurance brokerage rollups are the most active sub-LMM transaction category in NYC, driven by PE-backed consolidators (HUB International, World Insurance Associates, ALKEME, Confie, Acrisure) acquiring 200+ regional brokerages annually. For NYC insurance brokers in the $5M-$25M EV band, the ASZ-SterlingRisk deal demonstrates the depth of strategic and PE-platform capital available through MidCap's insurance-broker Rolodex -- a sub-vertical relationship density that no NYC generalist boutique can match.

Deal 3 (Digital Infrastructure): DH Capital-Advised Hivelocity Acquisition of Colohouse

Buyer: Hivelocity (US edge-data-center provider, expanding global footprint) Target: Colohouse (US edge-data-center operator with Tampa, Chicago, Denver, and other regional sites) NYC advisor: DH Capital served as financial advisor on the transaction Announced/Closed: April 15, 2024

The Hivelocity-Colohouse transaction is an edge-data-center consolidation that combined two regional operators into a national footprint, illustrating the post-2023 data-center supercycle that pulled $202B into US digital infrastructure in 2025 (approximately 2x 2024). DH Capital ran the deal as part of the firm's $44B+ digital-infrastructure track record since 2017. The deal sits alongside DH Capital's other 2024-2025 closes including Colovore acquired by King Street Capital (May 20, 2024, AI-optimized colocation) and the Patria Investments hyperscale data-center platform sale (2024-2025).

Why this matters for NYC sellers in the $5M-$100M range: Digital-infrastructure and data-center transactions concentrate in NYC advisor mandates because the buyer pool (King Street Capital, Patria Investments, KKR Infrastructure, Stonepeak, and the public-strategic acquirers Equinix, Digital Realty, Iron Mountain) is heavily NYC-resident or maintains NYC coverage teams. For NYC digital-infrastructure sellers in the lower-middle-market and middle-market, the Hivelocity-Colohouse deal demonstrates the depth of strategic capital available through DH Capital's Citizens-affiliated balance-sheet capability paired with the firm's 200+ M&A transaction track record.

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How Should NYC Sellers Choose an M&A Advisor by Deal Size and Sector?

Match the tier to the deal size first, then overlay sector specialization, then run a 4-6 week parallel pitch with three to five firms. The fast NYC advisors (the ones who close in 4-6 months instead of 9-12) all expect the same preparation work to be done before the engagement letter is signed -- if you arrive ready with the QofE drafted and the data room populated, your process compresses by 6-8 weeks.

1. Match the tier to the deal size. A $25M EV business should not pitch Solomon Partners or JEGI LEONIS upper LMM unless the sub-sector match is exceptional (Solomon FIG specifically; JEGI LEONIS for media/info specifically). A $75M EV business should not pitch FE International, Synergy, or Murphy NY -- those firms specialize in sub-$20M sales. The right match for a $25M tech / SaaS deal is Drake Star, GP Bullhound, or Progress Partners. The right match for a $75M EV deal is Solomon, Berkery Noyes, JEGI LEONIS, Oaklins DP, or Drake Star at the upper end. Tier discipline compounds: an advisor working at the structural sweet spot for your deal size runs a tighter, more competitive process.

2. Sector overlay matters more than tier discipline alone. For tech and SaaS mandates, the right firms by deal size are Drake Star ($25M-$500M EV with HR Tech, FinTech, SaaS focus), GP Bullhound ($25M-$500M EV global tech pure-play with co-invest), Progress Partners ($10M-$100M EV with AdTech / MarTech / supply-chain tech), and FE International ($250K-$20M EV with online-business and SaaS specialty). For media, marketing, and information mandates, JEGI LEONIS ($25M-$1B+ EV most active media-info advisor with 35 deals across the combined 2024 production of JEGI CLARITY and Leonis Partners pre-merger), Berkery Noyes ($25M-$300M EV information-industry since 1983), and Oaklins DP ($25M-$500M EV media/communications/digital tech) are the three pure-plays. For healthcare-services and HealthIT, Berkery Noyes (Lou Grecco MD healthcare) is the NYC pure-play in the LMM band. For digital infrastructure, DH Capital is the NYC pure-play. For insurance brokerage and retirement and wealth, MidCap Advisors leads with 20+ deals in 18 months. For consumer/retail and ESOP transitions, Triangle Capital LLC is the NYC pure-play. For sub-$10M owner-operator transitions, Synergy Business Brokers and Murphy NY are the closer fits.

3. Get the Quality of Earnings drafted before pitching advisors. A QofE from a credible accountant (not your tax CPA) is the single most valuable preparation document. The QofE establishes the EBITDA narrative the buyer will diligence, surfaces working capital adjustments before the buyer finds them, and produces the financial reconciliation that the data room financials should tie to. Allow 6-8 weeks for QofE prep. For deeper context, our M&A due diligence process guide covers the full QofE workflow.

4. Run a parallel pitch process with 3-5 advisors. Most NYC sellers pick the first advisor who pitches well. The right approach is to run a 4-6 week parallel pitch with 3-5 firms (one Tier A specialist, two Tier B operators, two Tier C if your deal is $5M-$15M EV; two Tier A and two Tier B if your deal is above $25M EV). Compare track records in your specific sub-sector, ask for sample CIMs and data rooms from recent closes (not pitch decks), and verify the senior banker who will actually run your process.

5. Pre-clean the data room contents. Customer concentration tables, contract summaries, employee rosters with key person flags, AR aging by client, and AP aging by vendor should all be organized before the advisor sees them. Buyers will diligence all of this -- the question is whether they find it organized in week 1 or wait until week 8. For click-through NDA workflows that compress buyer onboarding from days to minutes, our M&A click-through NDA guide covers the full workflow.

For data room setup for M&A specifically, our M&A data room guide covers the 8-folder structure that NYC advisors expect to see by week 1 of the engagement.

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What Should NYC Sellers Demand from a Data Room Before Going to Market?

Demand NDA-gated access, dynamic watermarks, page-level analytics, AI-powered Q&A, custom domain branding, and per-cohort permissions -- features that compress the first six weeks of advisor work into a single day of seller preparation. NYC advisors are universally more enthusiastic about engagements where the seller arrives with an organized data room than ones where the advisor has to spend the first six weeks of the engagement on data room setup. The structural cost asymmetry shows up here: legacy VDR vendors charge $15K to $50K per deal for a single transaction-grade data room, and 47% of legacy VDR vendors hide pricing on their websites. For boutique NYC advisors running 8-12 deals per year, that prices out the sub-$50M EV band before the engagement letter is signed.

Peony Business at $40 per admin per month replaces the per-deal economics with flat-rate pricing -- a NYC boutique advisor running 12 deals per year pays $480 total on Peony versus $180K to $600K on legacy per-deal VDRs. The feature alignment matters as much as the cost:

• NDA-gated access with built-in click-through e-signatures -- NYC fintech sellers use Peony's NDA gates with allow-list link access to share CIM with pre-screened RIA-channel acquirers without rebuilding the room when the buyer pool expands
• Dynamic watermarks -- viewer email and timestamp embedded in every rendered page, so a leaked CIM has a forensic audit trail back to the buyer; Brooklyn / Greenpoint consumer-brand exits use Peony's dynamic watermarks with timestamp to embed buyer email plus view time into every page rendered, giving founders a forensic audit trail when sensitive customer-LTV data leaves the room
• Granular permissions via visitor groups -- separate the lender data room from the strategic-buyer data room from the management equity rollover folder; Westchester and Long Island insurance-broker rollups (Synergy, MidCap insurance practice) use Peony's visitor groups to keep the bank-financing data room separate from the strategic-buyer room and the management rollover folder
• Page-level analytics -- shows which buyers spent time on the QofE versus skimming the CIM; Manhattan agency founders running media-platform exits use Peony's per-page analytics to see which strategic acquirer's M&A team is reading the customer concentration tables versus skimming the IRR slide
• Screenshot protection -- blocks and logs unauthorized capture attempts on the Business plan
• AI-powered Smart Q&A -- handles repetitive buyer questions with cited answers; NYC healthcare services and HealthIT founders (Berkery Noyes' Lou Grecco practice) use Peony's AI Smart Q&A to handle repetitive HIPAA, payor-mix, and compliance questions with cited answers from uploaded clinical and billing data
• AI auto-indexing -- compresses data room setup to under 5 minutes by organizing every uploaded document into the standard M&A folder structure automatically
• Custom domain branding -- run your data room on a domain that matches your firm or transaction code name

NYC boutiques running data rooms on Peony in 2026 include sub-LMM specialists in tech / SaaS, media / information, healthcare technology, insurance brokerage, and digital infrastructure -- the firms that need the cost structure to make sub-$50M EV economics work and the AI Smart Q&A workflow to handle the repetitive lift that diligence buyers expect to see automated.

For solo NYC M&A advisors and sub-LMM specialists running 1-3 deals per year, Peony Pro at $20 per admin per month covers basic data room hosting with NDA gates, watermarks, and page-level analytics. The Business tier at $40 per admin per month adds AI Smart Q&A, AI auto-indexing, screenshot protection, and unlimited data rooms -- which is what running middle-market and upper middle-market M&A processes actually requires.

Set up your first NYC M&A data room in under 5 minutes -- start free.

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What Do NYC M&A Advisors Charge in 2026?

NYC M&A advisors charge total fees of 5-8% blended on $5M-$15M deals, 1.7-3% blended on $15M-$50M deals, and 1-2% blended on $50M-$100M deals -- with retainers ranging from $0 (Synergy success-fee-only) to $150K credited against the success fee at close. Fee structures across the 14 firms collapse to three patterns by deal size:

Retainer credit: All 14 firms credit retainer against success fee at close. Synergy Business Brokers takes zero retainer (success-fee-only model is rare among NYC firms). If the deal does not close, the retainer is generally non-refundable, though the engagement letter is negotiable on this point.

Tail period: 12-24 months covering buyers introduced during the engagement. Negotiate down to 12 months if you can; the default 18-24 month tail can complicate a future re-engagement with a different advisor.

Expense reimbursement: $25K-$50K cap is standard for travel, marketing, and CIM preparation. Above this, the seller pays direct.

Bulge-bracket comparison: NYC bulge-bracket banks (Goldman, Morgan Stanley, JPMorgan, Citi, BofA Securities, Lazard) typically demand a $250K+ retainer plus a higher success fee minimum (often $750K floor regardless of deal value) on $25-100M EV deals -- structurally inefficient for the LMM band, which is why this guide excludes them and recommends boutique alternatives.

For deeper context on what to expect in the data room cost structure component of your M&A process, our cost guide covers VDR pricing across the 15 platforms most commonly used by NYC advisors.

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Frequently Asked Questions

Q: I'm running a sell-side for a $30M EV NYC services business. Should I hire a boutique M&A advisor or a bulge-bracket investment bank?

For a $30M EV NYC sell-side, hire a boutique. Bulge-bracket banks (Goldman, Morgan Stanley, JPMorgan, Citi, BofA) structurally run their senior-banker bench against $300M+ engagements, and a $30M deal at one of those firms gets routed to an analyst-and-VP team where the sector MD shows up for the pitch and disappears the day the engagement letter is countersigned. NYC boutiques structurally compete for $25M-$100M deals: Solomon Partners (founded 1989 by Peter J. Solomon, 1345 Avenue of the Americas, CEO Marc Cooper) ran approximately 17 published trailing-12-month transactions across business services, financial institutions, fintech, healthcare, media, and tech. Berkery Noyes (founded 1983, Park Avenue HQ) closed Tambellini Group's sale to MGT-Vistria on March 4, 2025 and Origin Editorial's sale to KnowledgeWorks on March 4, 2025 in the $25M-$100M EV band. Oaklins DeSilva+Phillips (Reed Phillips III, Crain's Notable M&A Dealmaker) and JEGI LEONIS (formed by the September 8, 2025 merger of JEGI CLARITY plus Leonis Partners, with the merger announced March 10, 2025) are the two strongest media/info specialists at this size. The right test: ask each pitching firm to name the senior banker who will run your process from CIM to close, and ask for two sample CIMs from $20-40M EV closes in the last 18 months. Peony page-level analytics show which pitching firms are reading the financials you sent them versus which ones are reading the legal section once and skipping the rest -- a signal that sometimes catches a firm before they actually engage.

Q: My business is $25M revenue with $4M EBITDA in NYC. Will a $30M deal even get senior-banker attention at a bulge-bracket bank, or am I going to be a B-team client?

B-team. Bulge-bracket NYC banks define a $30M EV deal as below the institutional priority threshold -- the senior MD on the pitch is being measured on closing $200M+ engagements, and your file gets handed to a VP plus a one-to-two-analyst staffing model after the engagement letter is signed. The senior banker shows up for the pitch, the management presentation, and (sometimes) the LOI negotiation. Everything else -- buyer outreach, IOI tracking, data room population, diligence Q&A coordination -- runs through the staff team. NYC boutiques solve this by structural design: at Drake Star Partners (Gregory Bedrosian Co-Founder & Managing Partner, 950 Third Ave), a Managing Partner runs the engagement directly; at GP Bullhound NY (Greg Smith, Partner & NY Head, 489 Fifth Ave), the partner is the buyer-call point person; at JEGI LEONIS, Co-CEOs Robert Koven and Scott Mozarsky personally run mandates in their sub-vertical of relevance. Berkery Noyes' team of 11 partners and 3 principals (MDs include Martin Arentoft software, Mary Jo Zandy education, David Loechner media-events, Lou Grecco healthcare) runs partner-led processes by design. The structural fix: ask any bulge-bracket pitcher to commit in writing to which senior banker (MD or above) will be on every buyer call. Most won't. Peony visitor groups let your advisor segment the buyer pool by tier so the senior banker can see at a glance which strategic is actually engaged versus which is fishing -- no advisor delegates that visibility.

Q: I have one strategic already at the table for my NYC services business. Should I run a full auction or negotiate exclusively with the buyer that already approached me?

Run a process. The single biggest valuation gap in lower-middle-market NYC M&A is the difference between what one strategic offers in an exclusive negotiation versus what the same strategic offers when they know three to five other qualified buyers are reading the data room in parallel. NYC advisors who run this for a living confirm it produces a 15-30% price uplift on $20-50M EV services deals. Solomon Partners' bench of approximately 17 published trailing-12-month transactions includes named processes where the strategic that initially approached the seller ultimately won the auction at a higher price than their original IOI -- because the IOI got tested. Progress Partners' 12 closed deals over the past 24 months (MP Wired for HR to OneDigital April 16 2026, Rocket Lab to MiQ April 7 2026, AgileFleet to Banyan Software June 5 2025, TrueData to ID5 November 12 2025) consistently route inbound strategics into a 30-50 buyer process to surface a competing IOI. Oaklins DeSilva+Phillips' Workman Publishing to Hachette ($240M) and Cider Mill Press to HarperCollins were both auctioned, not negotiated. The exception is a strategic so structurally aligned (same sub-vertical, urgent capability gap, public-company strategic with a budget closing in 60 days) that the IOI is already at the top of your range -- in that narrow case, a focused 4-6 buyer auction beats a 50+ buyer process. Peony NDA gates with allow-list link access let you bring 3-5 buyers into a tightly controlled room without the open-marketing exposure of a broad auction.

Q: I get 2-3 inbound PE calls per quarter for my $25M revenue NYC business. Should I take them seriously or insist on running a process through an advisor first?

Take the calls but never sell off them. The 2-3 inbound PE calls per quarter for a $25M revenue NYC business are real interest -- platform PE firms (Vista Equity, Francisco Partners, Insight Partners, TA Associates) run associate-led calling programs that generate exactly this volume of inbound to fit their target screen. But the call is a screen, not an offer. The IOI an inbound PE buyer makes after a single screening call is structurally below what the same buyer pays in a competitive process: PE buyers price inbound deals at the floor of their multiple range and price competitive deals near the top. Drake Star Partners' Attentive.ai growth round from Insight Partners and Vault Verify's sale to Equifax both ran competitive processes where the eventual buyer had been a screening contact 6-12 months earlier -- the process surfaced a higher price from the same buyer pool. GP Bullhound's $200M+ Flo Health Series C from General Atlantic (July 30, 2024, $1B+ valuation) was a structured process, not an inbound. The right move: when an inbound PE call comes in, log it, ask qualifying questions about fund size, sub-sector mandate, and recent closes, but do not share financials. Engage an advisor when you are 6-12 months from a target close date, run a 30-60 buyer process, and route the inbound PE callers into the process as one of the qualified buyers. Peony page analytics show which inbound buyers actually open the financials versus which ones never logged in after the NDA was signed -- a useful filter for which inbounds belong in the eventual process.

Q: What is a reasonable success fee for a $30M EV sell-side mandate with a NYC boutique in 2026?

On a $30M EV NYC sell-side, expect total advisor fees in the 1.7%-3% range -- roughly $510K to $900K including retainer and success fee. NYC boutiques in the lower-middle-market band (Solomon Partners, Berkery Noyes, JEGI LEONIS, Oaklins DP, Drake Star, Progress Partners, GP Bullhound, DH Capital, Triangle Capital, Three Ocean) generally run a Lehman-style success fee scale: 5% on the first $1M, 4% on the next, 3% on the next, 2% on the next, and 1% on everything above $4M. That math produces about $440K of success fees on a $30M deal (1.5% blended). Some NYC boutiques negotiate a flat or modified-Lehman alternative on $20-40M EV mandates: 1.5%-2.0% flat success fee, or a tiered structure with a higher first-tier percentage and a flat tail above $20M. Add a $50K-$100K retainer credited against success fee at close (Solomon, JEGI LEONIS, GP Bullhound charge at the higher end; Progress and MidCap closer to $25-50K; Synergy Business Brokers takes no retainer at all -- success-fee-only model is rare among NYC firms but distinguishes Synergy in the sub-LMM band). Tail period of 12-24 months is standard. NYC bulge-bracket banks at this deal size typically demand a $250K+ retainer plus a higher success fee minimum (often $750K floor regardless of deal value) -- structurally inefficient for a $30M EV transaction. Peony Business at $40 per admin per month replaces the $15K-$50K per-deal data room cost most NYC boutiques used to bill as expense reimbursement.

Q: Are Lehman scale (5/4/3/2/1) success fees still standard for sub-$50M M&A deals in NYC, or has the structure shifted in 2026?

Lehman scale is still the default for sub-$50M NYC deals, but two structural shifts are now visible in 2026 engagement letters. First, modified-Lehman variants compress on the bottom: for $5M-$15M deals, NYC sub-LMM specialists (MidCap Advisors, FE International, Synergy Business Brokers, Murphy Business of New York) typically run 8%-10% on the first $1M, 6% on the next, 4% on the next, then 2-3% above -- which produces a 5-7% blended fee on $5-10M deals where straight 5/4/3/2/1 would underprice the work. FE International on its sub-$5M online-business deals applies an 8-15% flat percentage rather than a tiered structure. Second, modified-Lehman flattens at the top: above $50M, NYC mid-LMM firms (Solomon, JEGI LEONIS, Drake Star, GP Bullhound, DH Capital) negotiate a flat or stepped success fee with a 1%-1.5% blended target rather than the original 5/4/3/2/1 -- because a straight Lehman on a $200M deal produces a $4M success fee that no advisor can defensibly charge. Berkery Noyes' education and information mandates, Oaklins DeSilva+Phillips' media transactions, and Drake Star's HR-tech deals all run negotiated success-fee structures rather than pure Lehman in the upper LMM. The retainer side has firmed up: $50-100K is now the modal NYC LMM retainer (up from $25-50K five years ago), driven by advisor preparation costs and the longer pre-marketing cycle. Peony per-page analytics help advisors justify retainers by showing exactly how buyer engagement maps to the prep work performed.

Q: How do I evaluate a NYC boutique M&A advisor's track record without taking their word for it?

Verify the track record through three independent sources, not the advisor's pitch deck. First, the firm's transaction wall and press release archive -- Solomon Partners, Berkery Noyes, JEGI LEONIS, Oaklins DP, Drake Star, Progress Partners, GP Bullhound, DH Capital, MidCap Advisors, and FE International all publish dated transaction tombstones with buyer/target/sector. Cross-check those against BusinessWire, PR Newswire, and the buyer's own press releases -- if the buyer announced the transaction and named a different financial advisor, the boutique is overstating involvement. Second, PitchBook and Axial league tables -- Axial's 2025 LMM Investment Bank Top 100 ranks NYC firms by closed deal count, and Crain's New York Business 100 Most Active Dealmakers list (where Reed Phillips III at Oaklins DP appears) is editorially curated. Third, direct seller references -- ask the pitching firm for two sellers from closed deals in the last 12 months and call those sellers directly. Specifically ask: which senior banker actually ran my process, how many buyers contacted versus how many produced IOIs, did the firm identify the eventual buyer or did the buyer find the firm, and was the close timeline what they pitched. The single highest-signal question: ask for the engagement letter date and the close date on the last three closed deals -- a 4-6 month engagement-to-close cycle is fast, 6-9 months normal, 12+ months a warning sign. NYC boutiques like Berkery Noyes (Tambellini-MGT March 4, 2025; Ally Pediatric Therapy to ACES January 15, 2026) and JEGI LEONIS (35 transactions across the combined 2024 deal production of JEGI CLARITY and Leonis Partners which became JEGI LEONIS post-merger, ~$5B aggregate) publish enough public detail to verify these timelines independently. Peony per-investor watermarks on past deal CIMs the advisor shows you in the pitch are a tell -- if the firm sends you a sample CIM with no watermark, no view tracking, and no NDA gate, that's how they ran their last buyer outreach too.

Q: I'm a $25M-revenue NYC founder. Should I trust the M&A advisor my accountant referred me to, or build my own shortlist independently?

Build your own shortlist. The accountant referral is a starting point, not a recommendation -- most NYC accountants and attorneys refer to one or two M&A advisors they personally know, not the advisor who structurally fits your deal. Some referrals come with informal kickback economics (referral fees on closed deals run 0.25%-0.5% in some NYC professional networks); others come from a single past client experience that may or may not match your sub-sector. The accountant has no incentive to map five or ten boutiques against your specific situation. The right approach: take the accountant's referral as one of three to five firms you pitch, then build the rest of the shortlist by sub-sector. For tech and SaaS sellers, pitch Drake Star Partners (HR Tech, FinTech, SaaS), GP Bullhound (global tech pure-play), and FE International (online-business and SaaS sub-$20M). For media, marketing, and information sellers, pitch Berkery Noyes (information industry specialist since 1983), JEGI LEONIS (35 deals across the combined 2024 production of JEGI CLARITY and Leonis Partners which became JEGI LEONIS post-merger, across media-info-tech), and Oaklins DeSilva+Phillips (more 21st century media deals than any other I-bank). For healthcare-services and HealthIT, pitch Berkery Noyes (Lou Grecco MD healthcare; Ally Pediatric Therapy/ACES January 2026; Principle Diagnostics/Aqueous Health July 2025). For digital infrastructure and data centers, pitch DH Capital ($44B+ in digital infrastructure since 2017). For insurance-broker rollups, pitch MidCap Advisors (Healey & Associates to World Insurance May 2025; Innovative Insurance to ALKEME June 2025; six insurance rollups March 2025 alone). The shortlist test: any advisor on it should have closed three or more deals in your specific sub-sector in the last 18 months. Peony visitor groups let you run parallel pitches and segment which firm is reading which materials -- a useful proxy for genuine engagement during the bake-off.

Q: How do I run a confidential sell-side process for a NYC services business without my key employees, customers, or competitors finding out?

Confidentiality leakage on a NYC sell-side comes from four predictable failure points -- and each one has a mechanical fix. First, the CIM itself: a NYC CIM that names the seller, lists the top 5 customers, and shows the management team biographies will leak if a buyer forwards it. The fix is a teaser-first process where the buyer signs the NDA against a generic anonymized teaser (sub-vertical, revenue band, geography, EBITDA band), and only sees the full CIM after the NDA is countersigned and the buyer is logged into the data room. Second, employee leakage: a NYC services business with 30-200 employees will hear rumors within weeks if the management team starts disappearing for buyer calls. The fix is restricting the deal team to founder-CEO plus CFO until the LOI is signed, and using a transaction code name on all internal calendar events. Third, customer leakage: if a strategic buyer calls your top customer for reference checks during diligence, the customer learns immediately. The fix is reference-check only after exclusivity, and only on a limited customer list pre-approved by the seller. Fourth, competitor leakage: a NYC competitor invited into the buyer pool will use the data room visit to reverse-engineer your unit economics. The fix is competitor-exclusion clauses in the engagement letter and a tiered data room where competitors only see the late-stage diligence room after LOI. NYC firms that run confidential processes by structural design include Berkery Noyes (37+ year information industry track record), JEGI LEONIS (Wilma Jordan's 37yr operator-relationship depth), Three Ocean Partners (mid-market merchant banking with prominent-family deal flow). Peony per-investor watermarks embed buyer email plus exact view timestamp into every page, so a leaked CIM has a forensic audit trail back to the buyer. Peony screenshot protection blocks and logs unauthorized capture attempts on Business plan rooms, deterring competitors from harvesting customer concentration tables.

Q: How should I structure the engagement letter -- tail period, exclusivity, retainer credit -- when hiring a boutique M&A advisor for a $30-40M EV NYC deal?

A $30-40M EV NYC engagement letter has six economics-shaping terms to negotiate. First, retainer: $50-100K is modal at NYC boutiques (Solomon Partners, JEGI LEONIS, GP Bullhound at the higher end; MidCap Advisors and Progress Partners at the $25-50K level; Synergy Business Brokers takes zero). Negotiate the retainer as fully creditable against success fee at close -- non-creditable retainers are a 2018-era term that should not appear in 2026 letters. Second, exclusivity: 12 months is standard, with automatic 30-90 day rolling extensions if a buyer is in active diligence. Push back on 18-24 month original-term exclusivity -- that gives the advisor too much downside protection at the seller's expense. Third, tail period: 12-18 months is the negotiable range. The default 24-month tail is too long for a NYC LMM deal -- a buyer the advisor introduces in month 3 of a process should not generate a fee in month 30. Push for 12 months on tail, 18 months at most. Fourth, success fee structure: Lehman 5/4/3/2/1 is the default, but for $30-40M EV deals, negotiate a flat 1.5-2.0% above $30M as the upper-tier replacement -- otherwise the 1% tail above $4M produces a fee structure that doesn't reward the advisor for incremental valuation work. Fifth, expense cap: $25-50K is standard, with seller approval required above the cap. Sixth, competitor exclusion list: name the 5-10 strategic competitors you do not want approached, and require advisor approval before any of them sees the teaser. NYC boutiques that negotiate fairly on these terms include Berkery Noyes, MidCap Advisors, Oaklins DP, and Progress Partners. Peony custom domain branding lets you run the data room on a deal-specific domain that signals to the advisor (and to buyers) the engagement is run on cost-efficient infrastructure rather than a $50K Datasite room billed back as expense.

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Bottom Line

NYC in 2026 is the deepest US M&A market by sector specialty, anchored by Solomon Partners' independent institutional bench (approximately 17 published trailing-12-month transactions across 12+ verticals), Berkery Noyes' 40+ year information-industry track record, JEGI LEONIS' post-merger media-info-tech franchise (35 transactions across the combined 2024 production of JEGI CLARITY and Leonis Partners pre-merger), Oaklins DP's 21st-century media dominance, Drake Star's cross-border tech and HR Tech franchise, and DH Capital's $44B+ digital infrastructure since 2017. The NYC tech, media, and financial-services concentration produces a buyer pool that no other US metro can match by sub-vertical density.

For a $5M-$100M EV NYC seller, the right boutique closes the deal in 4-6 months at fees that work for the deal size; the wrong choice (a bulge-bracket bank running a $30M deal as a step-down engagement, an out-of-market firm with thin NYC relationships, or a true business broker on a $50M deal) costs 6-12 extra months and produces uneconomic engagement terms.

Pick the tier that matches your deal size, run a parallel pitch with 3-5 firms, ask for sample CIMs and data rooms from recent closes (not pitch decks), and verify the senior banker who will actually run your process. Get the QofE done before signing the engagement letter. Build the data room before the advisor sees it. When the engagement letter is signed, the right data room platform compresses the next 6 weeks of work into 5 minutes. Peony starts free, scales to $40 per admin per month for full Business features at our pricing page, and replaces the $15K-$50K per-deal cost of legacy VDRs that price out the lower-middle-market.

For the M&A trends and facts shaping 2026 deal flow, our M&A trends piece covers a decade of market data 2015-2026.

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Related Resources

• Best M&A Advisors in Dallas (2026 Guide) -- sibling Dallas city guide; 14 Dallas firms across $1M-$300M deals
• Best M&A Advisors in Chicago (2026 Guide) -- sibling Chicago city guide; 18 Chicago firms across $1M-$2B+ deals
• Best M&A Advisors in Atlanta (2026 Guide) -- sibling Atlanta city guide; 14 Atlanta firms across $1M-$300M deals
• Best M&A Advisors in Houston (2026 Guide) -- sibling Houston city guide; 14 Houston firms across $1M-$300M deals
• M&A Process Guide -- 8-phase M&A lifecycle from strategy to integration
• M&A Due Diligence Process Guide -- complete buy-side and sell-side diligence workflow
• M&A Data Room Setup -- 8-folder structure NYC advisors expect by week 1
• M&A Click-Through NDA Data Room -- click-through NDA workflows for sell-side processes
• M&A Trends and Facts -- decade of M&A market data 2015-2026
• Data Room Cost Comparison -- VDR pricing across 15 platforms
• Independent Sponsor Guide -- complete IS mechanics, economics, and capital partner dynamics
• Peony for M&A -- M&A data room solutions
• Peony for Private Equity -- PE-specific data room features
• Peony for Due Diligence -- diligence workflow tools

We run Peony, a data room platform for M&A and private equity -- start free, scale to $40 per admin per month for full Business features when your first NYC deal needs AI Smart Q&A, AI auto-indexing, and unlimited data rooms.