529 Photos and videos
Whoβs Buying in the Lower Middle Market in 2026?
Axialβs latest report breaks down the data behind todayβs buyer landscape β whoβs buying, what theyβre targeting, and how behavior is shifting over time.
Included in the report:
π₯ The number of active Axial buyers
π° Deal demand by EBITDA range & firm type
π Trends in new buyers joining the platform
π Average TEVs by firm type
π Featured 2025 closed deals
#MandA #PrivateCapital #DealFlow #BuyerTrends #BusinessAcquisitions
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Why did deals die in 2025?
Axial analyzed 75 executed LOIs that failed to close - here's what killed them:
π 25.3% - Non-QoE diligence issues
π 21.3% - QoE EBITDA gaps
π 14.7% - Post-diligence renegotiation
πͺ 13.3% - Seller withdrawal
πΈ 10.7% - Financing breakdowns
#MandA #LOI #DueDiligence #LMM #DealData
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π Read the annual Dead Deal Report: bit.ly/4bwuHZd
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π New Winning LOI
Weβre breaking down the LOI for a tech company offering outsourced IT & cybersecurity services with $10Mβ$12M revenue & $750Kβ$1M EBITDA. π
πΌ Deal Snapshot
β’ Change of Control | $6Mβ$8M transaction value
β’ 8.5xβ9x EBITDA multiple
β’ 79% cash, 10% rollover equity, 11% seller note
β’ 88 days to executed LOI, 120 days to close
β’ Private Equity buyer
#MandA #LOI #TechDeals #Valuation
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The latest Winning LOI features a GPS tracking services company that was acquired via the Axial platform by an individual accredited investor.
LOI Terms
$12M β $15M Purchase Price
4x β 4.5x TTM EBITDA
π° 90% Cash
π 10% Earnout
π« Seller Note
π« Earnout
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ποΈ New Episode: Masters in Small Business M&A
Ep. #40 β Furniture Industry M&A with Bo Stump of Stump & Company.
From domestic manufacturing β‘οΈ global sourcing β‘οΈ e-commerce, the furniture supply chain has transformed.
Hereβs how it impacts valuations, buyers & exits.
πΊ Watch on YouTube: youtu.be/u_rP9VmZd3s?si=_Vdrβ¦
#InvestmentBanking #MergersAndAcquisitions #Podcast #SMB #Dealmakers
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The latest Winning LOI features a mobile health services company that was acquired via the Axial platform by a Search Fund.
LOI terms:
$12M β $15M Purchase Price
8x β 8.4x TTM EBITDA
π° 75% Cash
π 25% Seller Note
π« Rollover Equity
π« Earnout
#MandA #DealFlow #SearchFunds #HealthcareMAndA #LowerMiddleMarket #BusinessOwners
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What makes an entrepreneur?
#MergersAndAcquisitions #BusinessTransition #OwnerFirstApproach #TREPAdvisors #RelationshipDriven #Axial #entrepreneurs
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π Just Dropped: Top 25 Investment Banks on Axial
Our Q2 League Table rankings are based on:
β
Client quality
β
Targeting effectiveness
β
Buyside progression (NDA β CIM)
β
Deal outcomes (IOIs, LOIs, closed deals)
π See which 25 firms rose to the top in a record 3,359-deal quarter.
#MergersAndAcquisitions #LMM #InvestmentBanking
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The latest Winning LOI features a landscaping business acquired as an add-on acquisition by a PE firm for its portco.
LOI terms:
π $12Mβ$15M Purchase Price
π 8.75xβ9x TTM EBITDA
π 30-Day Exclusivity
π° 89% Cash / 11% Rollover Equity
π« No Seller Note
π« No Earnout
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