Top 25 Lower Middle Market Investment Banks | Q3 2025
Axial is excited to release our Q3 2025 Lower Middle Market Investment Banking League Tables. To compile this list, we…
Welcome to the Q3 2025 issue of The Advisor Finder Report, a quarterly publication that surfaces the activity occurring on Axial in conjunction with our Advisor Finder offering.
Axial’s Advisor Finder program helps owners identify the most relevant and credible M&A advisors so they can transact successfully.
Advisor Finder utilizes 15 years of platform data to confidentially match business owners with advisors who have proven experience representing similar businesses. New advisors from Axial’s network become eligible for the program based on their platform activity data and relevant experience for a given owner.

Last quarter, 34 new business owners joined Axial to explore a sale or capital raise. There were 97 introductions facilitated between business owners and advisors, the highest quarterly total on record. This marks a 38.6% increase over Q3 2024 and represents the sixth consecutive quarter with at least 70 introductions.
Twelve unique industries were represented, with Technology and Industrials ranking in the top two, accounting for 39.17% of the total. The EBITDA for the majority of businesses introduced (64.95%) ranged between $1M and $5M. Owners cited a range of transaction motivations, including personal liquidity, retirement, and a shift in career interests.
Below, we have created a set of tear sheets that outline a complete breakdown of Advisor Finder activity in Q3 2025. All data is fully anonymized to protect the confidentiality of the owners and advisors. Feel free to share and incorporate the data into your materials as you see fit.


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