Top Ontario M&A Advisory Firms with Recent Private M&A Activity

Active Firms

TTM Deal Flow

$4M-$29M

Core Revenue Range

$700K-$4M

Core EBITDA Range

Top Sectors by Activity

Industrials 50%

Consumer Goods 15%

Transportation 12%

Food & Hospitality 8%

Technology 8%

Key Attributes

Best For: Owner-Led Companies | Typical Fee: Retainer & Success fee | Coverage: Sector Expertise With Hands-On Execution

Mor-Liquidity M&A

4 Closed Deals via Axial

9 Total Closed Deals

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Mor-Liquidity was founded in 2009 and brings a vast array of experience representing privately owned lower middle-market (5-50M Million $/Revenue) enterprises in both Canada and United States. Our business model was built with the processes, resources and expertise to maximize the financial opportunity for the clients we represent. Our goal is to provide Ownership with peace of mind!By minimizing the risks and maximizing the financial opportunity for the clients we represent, we professionally and confidentially assist small to mid-size private enterprises with Exit Planning, Value…

Recent Transactions

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Jul 2025 Advised Confidential Company in its sale to Confidential Company
Mar 2025 Advised Carey Nieuwhof Communications in its sale to Gloo
May 2024 Advised Confidential Company in its sale to Confidential Company
Aug 2023 Advised Myticas Consulting in its sale to Qualified Staffing

Northern Mergers and Acquisitions Corporation

1 Closed Deal via Axial

2 Total Closed Deals

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Northern Mergers and Acquisitions Corporation is a provider of M&A advisory services to small to mid-sized North American businesses. Northern assists shareholders and management in successfully selling their existing business or acquiring other attractive businesses – always with the ultimate goal of maximizing shareholder wealth. Northern provides a full range of professional advisory services tailored to meet the specific needs of each client. We are dedicated to professional excellence, unsurpassed personal service, and uncompromising ethical standards. Our services encompass all…

Recent Transactions

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Jun 2024 Advised Confidential Company in its sale to Confidential Company
Dec 2023 Advised Confidential Company on an investment from Confidential Company

Shaughnessy Group

1 Closed Deal via Axial

3 Total Closed Deals

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We founded the Shaughnessy Group in 2017 with the purpose to help business owners successfully transition out of their most valued asset, their privately held, lower middle-market company. These sophisticated transactions or “liquidity events” require immense planning, carefully execution and professional selling that only an experienced M&A advisor can provide.We exist to create successful outcomes for our business owner clients, but a big part of our job involves educating the various stakeholders, advisors, intermediaries, and entrepreneurs themselves on what the M&A process…

Recent Transactions

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Nov 2024 Advised Minisis Inc. in its sale to Soutron Global
Jul 2024 Advised Southwest Doors & Hardware Ltd. in its sale to Cascadia Equity Partners
Dec 2020 Advised Interpump in its sale to Summit Ridge Capital

Beacon Advisors

87 Total Closed Deals

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Beacon is North America’s leading Mergers & Acquisitions Advisory, Business Brokerage, and Business Valuation Firm with offices in Toronto, Miami, Los Angeles, and Washington, D.C. We are a member of Pandion Partners, a global association of investment banks with a network of offices across Europe, Asia, the Middle East, and the Americas. Our clients include the Owners and Management of Small to Mid-sized Private Companies, Financial Investors, Private Investment Funds, and Private Equity. Beacon has a diversified focus with experience across multiple industries, including construction…

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Jan 2026 Advised Fast-Growing Education Business with Proprietary LMS in its sale to Confidential Company
Jan 2026 Advised Aerospace Manufacturing and MRO Business in its sale to Confidential Company
Aug 2025 Advised Confidential Company in its sale to Confidential Company
Apr 2025 Advised Confidential Company in its sale to Confidential Company

FirePower Capital

61 Total Closed Deals

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Our M&A professionals have directly executed on more than 100 deals since 2013. We advise private, owner-operated Canadian companies on their major transactional activity: mergers & acquisitions (sell- and buy-side) and growth. Our work spans most industries except for resource extraction, pharmaceuticals and life sciences.Thoughtful advice, keen market insight, bespoke but technology-driven transaction processes and a quickly-expanding network have led to our deals getting over the finish line with significantly more certainty and creativity than our competitors can point to.In…

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Feb 2026 Advised IAM Concepts in its sale to Accenture
Aug 2024 Advised Confidential Company in its sale to Confidential Company
Aug 2024 Advised Addmore Group in its sale to Danilee Capital
Jul 2024 Advised HM Pipe in its sale to Core and Main

HDL Capital

51 Total Closed Deals

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Based in Toronto, Canada, HDL Capital Inc. (“HDL”) is a boutique M&A and Transaction Services advisory firm, specializing in arranging transformational transactions for small & mid-market companies in the $5M to $150M+ value range. HDL Managements’ 25-year track record includes over 200 successful transactions, totalling over $2 billion.HDL is dedicated to driving and unlocking shareholder value by arranging Sell-Side M&A transactions with Strategic and Financial buyers in Canada, the U.S. and beyond. HDL also works with select clients to enhance organic growth by planning…

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May 2026 Advised Glatz Concerts in its sale to Loft Entertainment
Feb 2026 Advised Vantix Systems Inc. in its sale to Aplin
Feb 2025 Advised The Woods Cannabis in its sale to Fika Company
Jun 2024 Advised Canadian Music Week in its sale to Loft Entertainment

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Stillwater Capital

22 Total Closed Deals

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Stillwater is a leading North American Mergers & Acquisitions advisor. We help business owners develop and execute winning M&A strategies.For sellers - we maximize shareholder value while minimizing uncertainty.For buyers - we source proprietary deals and negotiate transactions that achieve strategic objectives.We have closed over 100 transactions throughout North America, in a variety of industries. Typical transactions are $2-10m EBITDA. As trusted advisors, we believe in a client-focused approach that is built on trust and discretion.

Recent Transactions

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Apr 2025 Advised Maxcraft Avionics in its sale to Maverick Aviation Group
May 2024 Advised Primeline Windows & Doors in its sale to Triumph Holdings
Jun 2023 Advised TOTALogisticx in its sale to Aptean
Feb 2023 Advised Axsun Group in its sale to TFI International

Left Lane Associates

14 Total Closed Deals

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Left Lane Associates combines more than 90 years of entrepreneurial and executive experience in the supply chain industry with personal relationships and a unique suite of products to help you meet your personal and business goals.

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Nov 2025 Advised Confidential Company in its sale to Confidential Company
Apr 2024 Advised Swift Delivery Systems in its sale to Opalcap Partners
Aug 2023 Advised Confidential Company on an investment from Confidential Company
Jul 2023 Advised KaideX Transportation Services Inc. in its sale to Power Link Expedite

Apex Capital Advisors

11 Total Closed Deals

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Apex Capital Advisors is a lower mid market M & A advisory firm based in the greater Toronto, Canada region. Our industry focus includes business services, manufacturing and industrials, technology, media, marketing, energy, utility and the broader infrastrucure sector. We do predominantly buy side and sell side M & A work as well as strategic advisory work for younger companies seeking to better position themselves for an exit.

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Aug 2025 Advised Fleetlane in its sale to Confidential Company
Aug 2023 Invested in NODE
Aug 2023 Invested in McFlusion
Aug 2023 Invested in Car Media 2.0

Quest Partners Ltd.

7 Total Closed Deals

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Quest Partners Ltd. provides financial and business advisory services to small and medium sized companies in North America. Quest is affiliated with Quest Partners S.A. located in Geneva, Switzerland. Quest Partners Ltd. managing partners are Bachir Rabbat and Bryan Murphy. Combined, they have more than 35 years of entrepreneurial, private equity and corporate experience owning and operating businesses. The partners have a deep network of local and international relationships that can be leveraged to assist Quest's clients. In addition, Quest's external advisors David Sutin and Craig Graham,…

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Sep 2015 Advised Software Value Added Reseller in its sale to Private Buyer
Jun 2015 Advised Foreman Manufacturing in its sale to Private Buyer
Dec 2013 Advised Confidential in its sale to ADS Securities
Jun 2013 Advised Confidential in its sale to Broadstreet Data

AIM Group Canada Ltd.

6 Total Closed Deals

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AIM Group Canada Ltd. is a leading Canadian mergers and acquisitions advisory firm specializing in the sale or purchase of privately owned companies. Established in 1990 and based in Toronto, AIM arranges mergers, acquisitions and divestitures across the country. Our clients include a wide range of business service and manufacturing companies. AIM is also a founding member of Pandea Global M&A, an international alliance of mid-market M&A firms in 21 countries.

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Jan 2016 Advised ASK Products Inc. in its sale to Sicame S.A.
May 2015 Advised Modern Forwarding in its sale to Dicom Transportation Group
Dec 2014 Advised Black Electric in its sale to OZZ Electric
Jun 2014 Advised morEnergy Services in its sale to National Home Services

Bench Capital Advisory Inc.

5 Total Closed Deals

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Bench Capital+ Advisory is an M&A and corporate finance advisory firm dedicated to helping small and mid-sized businesses maximize their valuation at exit. For high-growth companies, we help founders and CEOs secure the capital they need to fund their business's growth and expansion.M&A Advisory ServicesOur expertise covers M&A processes, deal structuring, valuation, negotiation, due diligence, and closing, ensuring our clients avoid common pitfalls and achieve objectives. With an established global network that includes strategic buyers, private equity firms, family offices,…

Recent Transactions

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Feb 2025 Advised Confidential Company in its sale to Confidential Company
Dec 2022 Advised Confidential Company on an investment from Confidential Company
Dec 2022 Advised Confidential Company on an investment from Confidential Company
Jan 2021 Advised Confidential Company on an investment from Confidential Company

Ocean Bridge Capital

4 Total Closed Deals

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Ocean Bridge Capital focuses on midmarket mergers, acquisitions, disposals, and capital raising, designing and executing transactions largely between $5 to over $100 million in enterprise value.As an independent boutique advisory firm, OBC provides completely objective and pragmatic advice on strategic options for our clients.

Recent Transactions

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Jul 2023 Acquired trebor rx corp
Jul 2023 Acquired Webware.io
Jul 2023 Acquired Net Dynamic
Jul 2023 Acquired Battlbox

Mercantile Mergers & Acquisitions Corp.

2 Total Closed Deals

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Mercantile Mergers & Acquisitions Corporation is a mid-market mergers & acquisitions brokerage with an exclusive focus on company divestitures, acquisitions and buyouts. We have been a sell side intermediary firm since 1987. Mercantile has consummated over l72 transactions in a number of industries and market sectors. Transaction sizes have ranged in amounts of $1 million to $58,203,000.

Recent Transactions

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May 2024 Advised Confidential Company in its sale to Confidential Company
Jul 2012 Advised Close this opportunity in its sale to Not applicable

Saleh & Company

2 Total Closed Deals

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Recent Transactions

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Jan 2024 Advised Hiawatha Ford in its sale to Confidential Company
Sep 2023 Advised Confidential Company on an investment from Confidential Company

A Crossley & Associates

2 Total Closed Deals

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We lead owners of small & mid sized businesses (EV

Recent Transactions

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Jul 2015 Advised Streamline Mechanical on an investment from Mosaic
Jul 2013 Advised Arcline Construction in its sale to Tarten Canada Inc.

Portage M&A Advisory

2 Total Closed Deals

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Portage M&A Advisory specializes in mid-market and lower mid-market transactions in the Canadian marketplace. Our team has been involved in well over 100 M&A transactions to date. We are most proud of the clients we serve and the valued relationships we've established within the communities.

Recent Transactions

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Dec 2022 Advised Confidential Company on an investment from Confidential Company
Dec 2022 Advised Confidential Company on an investment from Confidential Company

The King Street Group

1 Total Closed Deal

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The King Street Group Ltd. (www.thekingstreetgroup.com) is a boutique consulting firm, operating outside of Toronto, Canada. Our mandate is divided in the following format: 45% Mergers and Acquisitions with expertise in Precision Machining (Aerospace, Oil and Gas) and Clean-Tech (Solar, with focus on the Ontario Market), 45% in traditional/nonconventional Supply Chain Management Consulting including Global Sourcing Strategies, and the facilitation of capital financing. The balance of our effort is spent working with Start-Up Companies, at various stages of…

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Oct 2014 Advised TBD in its sale to TBD

GoldBear Capital Corp

1 Total Closed Deal

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Goldbear Capital Intl. is a multi-faceted Mergers and Acquisition and “Business-value builder” firm with M&A, business-value build, coupled with management and productivity improvement consulting experiences spanning several decades and variety of industries.

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Sep 2012 Advised Azure dynamics on an investment from Mosaid

Sunbelt Business Brokers - Guelph, Kitchener, Waterloo, Brampton

1 Total Closed Deal

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Rob MitchellSenior Vice PresidentRob is one of the more well-known names in the Ontario M&A field. An entrepreneur himself (still the owner of several companies), Rob has been helping owners to sell their businesses for almost two decades.When Dave launched Chilton & Associates he was amazed by how many people suggested, “You should meet with Rob Mitchell—he’s the best.” So, Dave did meet with him and quickly came to agree with their assessment. He then convinced Rob to join Chilton & Associates and is thrilled to have him as a leader of the team.Rob is a past President of…

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Nov 2018 Advised Confidential Company on an investment from Confidential Company

Firms in the Ontario M&A Advisory Firms directory are ordered based on recent deal activity on Axial. The default order reflects observed market signals rather than a subjective ranking of firm quality.

Each profile provides information about the firm’s areas of focus, transaction criteria, and relevant activity on Axial’s M&A platform. Together, these details provide a clearer view of where a firm is active and the types of companies and opportunities most relevant for it.

Based on activity on Axial’s M&A platform, the core revenue range for Ontario M&A Advisory Firms is $4M-$29M, with a core EBITDA range of $700K-$4M. Company size can be an important indicator of fit, as firms often concentrate their experience, resources, and transaction activity within particular segments of the market.

Location can be an important consideration, but it does not necessarily define where a firm is active. Firms based in Ontario may bring regional knowledge, local relationships, and experience with businesses in the area, while many also pursue opportunities across a broader geographic footprint. Geography is best considered alongside sector focus, company size, and relevant transaction activity.

Not necessarily. A firm’s location does not always define its geographic reach. Many M&A Advisory Firms based in Ontario are active across multiple regions, while firms based elsewhere may also participate in the Ontario market. Location can provide useful context, but it should not be interpreted as a firm’s geographic boundary.

When comparing M&A Advisory Firms in Ontario, consider factors such as sector focus, size range, and recent transaction activity. These characteristics vary across the 63 firms included in the directory and can help identify firms that align with your needs.

Axial can help you identify and connect with firms based on your objectives and what you are looking to accomplish. The process varies depending on your role and transaction needs. If you are interested in connecting with firms in the Ontario M&A Advisory Firms directory, you can request information here.

Top Ontario M&A Advisory Firms

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