12 M&A advisors active in Milwaukee in 2026. Covers manufacturing, industrials, healthcare, and business services deals with firm profiles and recent transactions.
Milwaukee's M&A market is driven by manufacturing, industrials, and healthcare.
The city has a mix of local boutiques and national banks with deep Wisconsin roots.
Robert W. Baird is headquartered here and ranked #1 for industrial PE M&A exits in Q1 2026.
Set up a virtual data room before your first advisor call. Milwaukee buyers check financials and contracts from day one.
| Firm | Deal Type | Deal Size | Sector Focus | Website | |
|---|---|---|---|---|---|
| Robert W. Baird | Robert W. Baird | Both | $50M - $2B | Industrials, Manufacturing, Healthcare, Technology | rwbaird.com |
| Taureau Group | Taureau Group | Both | $5M - $150M | Manufacturing, Business Services, Industrials | taureaugroup.com |
| TKO Miller | TKO Miller | Both | $5M - $100M | Manufacturing, Consumer, Business Services | tkomiller.com |
| Bridgewood Advisors | Bridgewood Advisors | Both | $10M - $200M | Manufacturing, Distribution, Business Services | bridgewoodadvisors.com |
| Eisen Fox | Eisen Fox | Both | $10M - $100M | Technology, Consumer, Business Services, Manufacturing | eisenfox.com |
| Houlihan Lokey | Houlihan Lokey | Both | $100M - $5B | Industrials, Healthcare, Technology, Multi-sector | hl.com |
| Lincoln International | Lincoln International | Both | $50M - $2B | Industrials, Technology, PE-backed, Business Services | lincolninternational.com |
| Capstone Partners | Capstone Partners | Both | $10M - $500M | Industrials, Manufacturing, Business Services, HVAC | capstonepartners.com |
| Harris Williams | Harris Williams | Both | $50M - $2B | Industrials, Healthcare, Technology, PE-backed | harriswilliams.com |
| William Blair | William Blair | Both | $50M - $1B | Industrials, Healthcare, Technology, Consumer | williamblair.com |
| Transact Capital | Transact Capital | Sell-side | $5M - $75M | Manufacturing, Business Services, Distribution | transactcapital.com |
| Giersch Group | Giersch Group | Both | $2M - $50M | Manufacturing, Business Services, Distribution | gierschgroup.com |
How to verify an advisor's track record
Ask for a closed deal list with buyer names and dates. Milwaukee M&A boutiques and national banks reach different buyer pools.
Advisors who know Wisconsin manufacturing can name recent closed transactions. Vague claims about sector coverage are a red flag.
Check whether they've run both PE-backed and founder exits. Milwaukee deals attract both buyer types across most sectors.
Use Ellty to share financials with shortlisted advisors under NDA. You'll see who opens your files before the first call. Browse the full advisors directory to compare firms. Review the M&A process guide before preparing your documents.
Running a Milwaukee M&A deal?
Share your financials with buyers under NDA. Track who opens them.
Start free 14-day trialHow a Milwaukee deal runs
Milwaukee M&A typically runs five to eight months. Manufacturing and industrials deals add complexity around customer contracts and equipment schedules.
| Stage | What happens | What you need ready | |
|---|---|---|---|
| Stage 1: Preparation | Stage 1: Preparation | Run QoE, build CIM, shortlist advisors by sector | Three years P&L, customer contracts, equipment records |
| Stage 2: Advisor engagement | Stage 2: Advisor engagement | Sign engagement letter, align on buyer list | Cap table, supplier contracts, key leases |
| Stage 3: Marketing | Stage 3: Marketing | CIM sent to buyers, NDAs signed, meetings set | Ellty data room live with CIM and financial records |
| Stage 4: LOI | Stage 4: LOI | Buyers submit bids, LOIs negotiated, exclusivity signed | Clean revenue data, no open contract or IP disputes |
| Stage 5: Due diligence | Stage 5: Due diligence | Buyer reviews legal, financial, and operational records | Full Ellty data room: contracts, financials, permits |
| Stage 6: Close | Stage 6: Close | Purchase agreement signed, funds transfer | Reps and warranties signed, transition plans ready |
12 Milwaukee M&A advisors
These 12 firms advise on M&A in Milwaukee. Coverage spans manufacturing, industrials, healthcare, and business services.
1. Robert W. Baird
Milwaukee's largest investment bank, employee-owned, ranked #1 for industrial PE M&A exits in Q1 2026.
Recent Deals: Ranked #1 for industrial PE M&A exits by Mergermarket in Q1 2026. Completed nearly 760 advisory transactions since 2020, totaling $353B in value. Active in manufacturing, engineered products, and automation M&A through 2025-2026.
LinkedIn: Robert W. Baird LinkedIn
Sector Focus: Industrials, manufacturing, healthcare, technology, consumer
Deal Type: Both
Deal Size: $50M - $2B
Location: Milwaukee, WI
Website: rwbaird.com
2. Taureau Group
A Milwaukee mid-market bank with 75 closed transactions across manufacturing and business services.
Recent Deals: Completed sale of Marquette Energy Analytics to PowerGEM/TA Associates (June 2025). Advised on acquisition of Red Cedar Steel assets from Forest City Erectors (January 2026). Completed sale of Performance Stamping to Colfax Creek (January 2026).
LinkedIn: Taureau Group LinkedIn
Sector Focus: Manufacturing, business services, industrials, distribution
Deal Type: Both
Deal Size: $5M - $150M
Location: Milwaukee, WI
Website: taureaugroup.com
3. TKO Miller
A Milwaukee boutique celebrating 10 years of advising family-owned, PE-backed businesses.
Recent Deals: Advised on acquisition of Glo Skin Beauty by KYT Group (March 2026). Advised Craft Beverage Warehouse on its sale to TricorBraun Holdings (November 2025). Advised Trachte Building Systems on financial due diligence for a 2025 deal.
LinkedIn: TKO Miller LinkedIn
Sector Focus: Manufacturing, consumer, business services, distribution
Deal Type: Both
Deal Size: $5M - $100M
Location: Milwaukee, WI
Website: tkomiller.com
4. Bridgewood Advisors
A Milwaukee investment bank with 150+ transactions across manufacturing, distribution, and services.
Recent Deals: Active in M&A advisory for manufacturing and distribution businesses through 2025-2026. Updated successful acquisitions list through January 2026 on their transactions page. Focus on sell-side mandates for owners of businesses from $10M to $200M.
LinkedIn: Bridgewood Advisors LinkedIn
Sector Focus: Manufacturing, distribution, business services, industrials
Deal Type: Both
Deal Size: $10M - $200M
Location: Milwaukee, WI
Website: bridgewoodadvisors.com
5. Eisen Fox
A Milwaukee investment bank founded in 2010, devoted exclusively to M&A advisory services.
Recent Deals: Active in technology, consumer, and business services M&A through 2025-2026. Facilitated 34 deals across industrial goods, manufacturing, and business services. Arrow Cabinets acquisition by TekBrands was one of their recent completed transactions.
LinkedIn: Eisen Fox LinkedIn
Sector Focus: Technology, consumer products, business services, manufacturing, media
Deal Type: Both
Deal Size: $10M - $100M
Location: Milwaukee, WI
Website: eisenfox.com
Selling a Milwaukee business?
Set up your data room before your first advisor call. Track who opens it.
Start free 14-day trial6. Houlihan Lokey
The #1 ranked global M&A advisor by deal count in 2025 with a dedicated industrials group.
Recent Deals: Ranked #1 globally for all M&A transactions by LSEG in 2025 with 318 deals. Industrials Group ranked #1 for global industrials deals under $5B in 2025. Acquired Mellum Capital, a real estate advisory firm with Munich and London operations (January 2026).
LinkedIn: Houlihan Lokey LinkedIn
Sector Focus: Industrials, healthcare, technology, consumer, multi-sector
Deal Type: Both
Deal Size: $100M - $5B
Location: National (serves Milwaukee market)
Website: hl.com
7. Lincoln International
A global mid-market bank with 430+ transactions in 2025 and a US IPO filing in April 2026.
Recent Deals: Filed for US IPO in April 2026 with $214.1M net income in 2025, up 31%. Closed 430+ transactions in 2025 across industrials and business services. Active in PE-backed exits across the Midwest through 2025-2026.
LinkedIn: Lincoln International LinkedIn
Sector Focus: Industrials, technology, PE-backed, business services
Deal Type: Both
Deal Size: $50M - $2B
Location: National (serves Milwaukee market)
Website: lincolninternational.com
8. Capstone Partners
A national mid-market bank with a dedicated industrials practice and annual sector M&A reporting.
Recent Deals: Published 2026 Industrials M&A report covering metals manufacturing and precision manufacturing. Reported middle market M&A valuations proved resilient entering 2026. Active in Wisconsin and Midwest industrials M&A through 2025-2026.
LinkedIn: Capstone Partners LinkedIn
Sector Focus: Industrials, manufacturing, business services, HVAC, precision manufacturing
Deal Type: Both
Deal Size: $10M - $500M
Location: National (serves Milwaukee market)
Website: capstonepartners.com
9. Harris Williams
A national mid-market bank with deep industrials and healthcare practices active in the Midwest.
Recent Deals: Active in industrials, healthcare, and technology M&A nationally through 2025-2026. Consistently ranked among the top mid-market advisors for industrial PE-backed transactions. Covers sponsor-backed and founder-owned businesses across multiple sectors.
LinkedIn: Harris Williams LinkedIn
Sector Focus: Industrials, healthcare, technology, PE-backed, business services
Deal Type: Both
Deal Size: $50M - $2B
Location: National (serves Milwaukee market)
Website: harriswilliams.com
10. William Blair
A Chicago-based mid-market bank with a global industrials and healthcare M&A practice.
Recent Deals: Active in industrials, healthcare, and technology M&A nationally through 2025-2026. Advises PE-backed platforms and founder-owned businesses on sell-side mandates. Covers the Midwest with strong relationships across Wisconsin's industrial base.
LinkedIn: William Blair LinkedIn
Sector Focus: Industrials, healthcare, technology, consumer, multi-sector
Deal Type: Both
Deal Size: $50M - $1B
Location: National (serves Milwaukee market)
Website: williamblair.com
11. Transact Capital
A Milwaukee M&A advisory firm focused on lower-middle-market business sales and acquisitions.
Recent Deals: Active in manufacturing and business services M&A in the Milwaukee and Wisconsin market through 2025-2026. Advises owners of privately held businesses on sell-side transactions. Focuses on businesses with revenues under $75M across manufacturing and distribution.
LinkedIn: Transact Capital LinkedIn
Sector Focus: Manufacturing, business services, distribution
Deal Type: Sell-side
Deal Size: $5M - $75M
Location: Milwaukee, WI
Website: transactcapital.com
12. Giersch Group
A Milwaukee M&A consulting firm serving smaller businesses through valuation and advisory work.
Recent Deals: Active in M&A consulting and business valuation in the Milwaukee market through 2025-2026. Advises owners of businesses with revenues under $50M on transaction readiness and deal execution. Covers manufacturing, distribution, and business services across Wisconsin.
LinkedIn: Giersch Group LinkedIn
Sector Focus: Manufacturing, distribution, business services
Deal Type: Both
Deal Size: $2M - $50M
Location: Milwaukee, WI
Website: gierschgroup.com
Manufacturing M&A in Wisconsin in 2025-2026
Wisconsin's manufacturing sector is one of the most active in the Midwest for M&A. Twin Disc, Modine, and Wolter all closed significant deals in 2025.
Twin Disc acquired Kobelt Manufacturing for $16.5M in February 2025. Modine announced a $1B spinoff of its performance technologies unit to combine with Gentherm.
Wolter Inc. made four acquisitions in 2025 including Cincinnati Crane and Midway Industrial Equipment. PE sponsors are active acquirers across Wisconsin's industrial base.
Use Ellty to share operational and financial records with multiple buyers at once. Set granular permissions so each buyer only sees what their NDA covers. Review the mergers and acquisitions guide before your advisor search. Track buyer engagement in Ellty's analytics before the first management meeting.
Healthcare M&A in Wisconsin in 2025-2026
Wisconsin healthcare saw its largest deal when Abbott acquired Exact Sciences for $21B in late 2025. That transaction reshaped the state's diagnostics and life sciences landscape.
Sanford Health and Marshfield Clinic completed their merger in January 2025. The combined system operates as Sanford Health across Wisconsin and the broader region.
Eli Lilly had already paid $924.7M for Nexus Pharmaceutical's Pleasant Prairie facility. Medtech and specialty pharma remain active sub-sectors for 2026 deals.
Use Ellty to organize compliance records and financial data for buyer review. Share materials through a virtual data room before diligence starts. Check the due diligence guide to know what healthcare buyers look at first. Read the advisors directory to find firms with Wisconsin healthcare experience.
Getting your Milwaukee deal documents ready
Milwaukee founders often start the advisor search before their files are organized. Buyers expect financials, contracts, and permits ready from week one.
You'll need three years of P&L, clean customer contracts, and no open litigation. Manufacturing businesses also need equipment schedules and environmental permits.
Industrial buyers focus on customer concentration and contract transferability. Key-man risk and single-customer dependency surface in week one of diligence.
Use Ellty to build your data room before outreach begins. Track which buyers open your documents and how long they spend on each file. Share materials through secure file sharing under NDA before your first advisor meeting. Review the M&A process guide well in advance of advisor conversations.
How Ellty helps you close an M&A deal in Milwaukee
You've picked your Milwaukee advisor. Set up your data room next. Get buyers reviewing files fast.
- 1.Upload contracts, permits, and financialsOrganize files by type. Milwaukee buyers check contracts and permits first.
- 2.Set access by buyer type and NDA statusPE buyers and strategic acquirers need different document sets.
- 3.Track who reviews your key filesSee which buyers open your financials and how long they spend.
Common questions about Milwaukee M&A advisors
- Manufacturing, industrials, and healthcare are the most active. Business services and distribution also see steady deal flow.
- Local advisors know the Wisconsin buyer pool and recent closed deals. National mid-market banks reach more PE sponsors.
- Most deals run five to eight months. Manufacturing and industrials deals can take longer due to equipment reviews and permits.
- Customer contracts, three years of financials, and equipment records. Key-man risk and customer concentration also surface early.
- Before your first advisor call. Buyers expect financials and contracts ready from day one of diligence.
- Robert W. Baird and Taureau Group are most active locally. Bridgewood Advisors and TKO Miller also cover manufacturing deals.
