NEW YORK, April 14, 2022 (GLOBE NEWSWIRE) — Axial, the online M&A platform connecting buyers and sellers of U.S. small and midsize companies, today released its market investment banking rankings lower middle for the first quarter of 2022. Unlike traditional league tables, which typically rank companies based solely on deal volume and dollar volume, the Axial leaderboards incorporate historically hidden deal process data that reveals a insight into sell-side process selectivity, seller attractiveness, and overall deal management process efficiency.

Download Q1 2022 Lower Middle Market Investment Bank Rankings

M&A markets diverged in the first quarter of 2022, with overall M&A deal volume down 20% from last year’s record highs, while the lower middle market jumped more than 25%. %, as measured by GHI,” says Peter Lehrman, Founder and CEO of Axial. “This is just the latest data point to demonstrate that lower-middle market deal activity is not correlated with public markets or large-cap M&As. It has its own unique set of drivers. Congratulations to the Top 25 Lower Middle Market Investment Banks in Q1 for their strong results during this period.”

New deals marketed by Axial members increased 26% year over year and a total of 930 investment banks brought deals to market through the Axial platform in the first quarter. The rate at which buyers pursued these deals increased 7% quarter-over-quarter, as measured by Axial’s pursuit rate metric, which quantifies buyers’ interest in private companies and reveals insight into the buying and selling forces that shape individual transactions. Traders marketed over 2,000 deals through Axial in the first quarter of 2022 with an average revenue from deals marketed by investment banks of $20.9m and an average EBITDA of $3.1m. From an industry perspective, industrial transactions led the way (29%), followed by food and hospitality (15%), consumer goods (12%), technology (12 %), and business and health services (8% each).

“Interestingly, the technology sector had the highest pursuit rate in the first quarter with a pursuit rate of 10.6%,” says Dani Forman, director of research at Axial. “The intense selling and multiple squeeze of publicly traded tech companies in Q4 2021 is leading to a very engaged private M&A environment for lower middle market tech companies. Buyers who were on the sidelines for much of 2020 and 2021 due to valuation issues are again engaging in the lower middle market.”

About axis

Axial is the online M&A platform for buyers and sellers of small and midsize US businesses. Professional buyers, M&A advisors and business owners trust the company’s pioneering deal sourcing and marketing platform to source opportunities, assess buyer quality and reputation, and exchange critical information on agreements. A selective list of transactions originating from and executed through the Axial platform can be found here. For more information about Axial, visit


Dani Forman, Research Director
Axial | [email protected]

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