A list of 14 M&A advisors active in the US in 2026. Covers bulge brackets, elite boutiques, and middle market specialists with recent deal data, sector focus, and deal size ranges for each firm.
What to expect from US M&A advisors
Goldman Sachs led North American M&A by value in Q1 2026, advising on 18 billion-dollar deals. Houlihan Lokey led by volume with 66 closed transactions in the same quarter.
Those two firms represent opposite ends of the market. Most mid-market companies don't belong at a bulge bracket bank.
For deals under $500M, boutiques win on senior attention and buyer targeting. You'll get a dedicated team instead of a junior banker managing your file.
Before your first advisor meeting, set up an Ellty data room. Upload your financials, cap table, and any LOIs you've already received.
| Deal Type | Deal Size | Sector Focus | Website | |
|---|---|---|---|---|
| Goldman Sachs | Both | $500M+ | Diversified | gs.com |
| Morgan Stanley | Both | $500M+ | Diversified, tech, energy | morganstanley.com |
| JPMorgan | Both | $250M+ | Diversified | jpmorgan.com |
| Lazard | Both | $500M+ | Consumer, energy, healthcare | lazard.com |
| Evercore | Sell-side | $250M+ | Energy, tech, healthcare | evercore.com |
| Houlihan Lokey | Both | $50M - $1B | Diversified, PE-backed | hl.com |
| Centerview Partners | Both | $500M+ | Consumer, healthcare, tech | centerviewpartners.com |
| Moelis & Co. | Both | $50M - $5B | Diversified | moelis.com |
| Jefferies | Both | $100M - $2B | Energy, TMT, industrials | jefferies.com |
| William Blair | Sell-side | $50M - $500M | Tech, business services | williamblair.com |
| Lincoln International | Sell-side | $25M - $500M | Industrials, business services | lincolninternational.com |
| Harris Williams | Sell-side | $25M - $500M | Consumer, services, healthcare | harriswilliams.com |
| Piper Sandler | Both | $50M - $1B | Healthcare, tech, consumer | pipersandler.com |
| Robert W. Baird | Both | $25M - $500M | Industrials, PE-backed | rwbaird.com |
Verifying an advisor's track record
Any decent firm can fill a slide with deal logos and names. The real question is whether those deals closed at the advertised valuation.
Ask for a list of closed deals in your sector from the last 24 months. If they can't produce one within 48 hours, move on.
Dead deals in their portfolio are a red flag worth noting. Check whether any deal re-traded or fell apart during sell-side due diligence.
Set up an Ellty data room before you start calling advisors. Have your materials ready - it signals you're serious and speeds up the process.
Running a sell-side M&A process?
Set up your data room before your first advisor meeting.
Start free 14-day trialThe US M&A deal timeline
Most US deals run six to nine months from first advisor call to close. Preparation shortens every stage.
| What happens | What you need ready | |
|---|---|---|
| Stage 1 - Preparation | You organize all financial and legal documents. | Three years of P&L, tax returns, and a cap table. |
| Stage 2 - Advisor engagement | You hire an advisor and sign an engagement letter. | A business teaser and your key financial metrics. |
| Stage 3 - Marketing | Your advisor contacts buyers and sends out the CIM. | An Ellty data room with your CIM and financials ready. |
| Stage 4 - LOI | Buyers submit non-binding offers and one is selected. | A clean cap table and a list of any existing debt. |
| Stage 5 - Due diligence | The buyer reviews all documents in your data room. | A fully loaded Ellty room with access controls set. |
| Stage 6 - Close | Definitive agreements are signed and funds transfer. | All legal docs signed and closing checklist complete. |
14 top US M&A advisors in 2026
1. Goldman Sachs
Leads North American M&A by value; best reserved for deals over $1B.
Recent Deals: Advised on 18 billion-dollar deals in Q1 2026, including five transactions exceeding $10B each.
LinkedIn: Goldman Sachs on LinkedIn
Sector Focus: Diversified, technology, energy, financial services
Deal Type: Both
Deal Size: $500M+
Location: New York, NY
Website: gs.com
2. Morgan Stanley
Top global M&A bank by deal value in 2025; strong in tech and energy sectors.
Recent Deals: Advised on $210.3B in deal value in Q1 2026, ranked second by value in North America.
LinkedIn: Morgan Stanley on LinkedIn
Sector Focus: Technology, energy, financial services
Deal Type: Both
Deal Size: $500M+
Location: New York, NY
Website: morganstanley.com
3. JPMorgan
Most active bank by deal count in North America in 2025; broad sector coverage.
Recent Deals: Led North American M&A by deal value and count in full-year 2025, advising on 234 transactions.
LinkedIn: JPMorgan on LinkedIn
Sector Focus: Diversified
Deal Type: Both
Deal Size: $250M+
Location: New York, NY
Website: jpmorgan.com
4. Lazard
Elite boutique focused on sell-side advisory for the largest and most complex deals.
Recent Deals: Advised Mars on the $35.9B acquisition of Kellanova in Q3 2025.
LinkedIn: Lazard on LinkedIn
Sector Focus: Consumer, energy, financial institutions
Deal Type: Both
Deal Size: $500M+
Location: New York, NY
Website: lazard.com
5. Evercore
Sell-side specialist that consistently produces better outcomes than bulge brackets for pure advisory mandates.
Recent Deals: Advised Calpine in the $26.6B acquisition by Constellation Energy in 2025.
LinkedIn: Evercore on LinkedIn
Sector Focus: Energy, technology, healthcare
Deal Type: Sell-side
Deal Size: $250M+
Location: New York, NY
Website: evercore.com
6. Houlihan Lokey
Consistently #1 by deal volume; the most active M&A advisor in the mid-market.
Recent Deals: Led North American M&A by deal volume in Q1 2026 with 66 closed transactions.
LinkedIn: Houlihan Lokey on LinkedIn
Sector Focus: Diversified, PE-backed businesses
Deal Type: Both
Deal Size: $50M - $1B
Location: Los Angeles, CA
Website: hl.com
Setting up a US M&A data room?
Ellty tracks which buyers read your CIM and for how long.
Start free 14-day trial7. Centerview Partners
Elite boutique for large-cap and complex deals; senior partners are on every mandate.
Recent Deals: Advised on $84.8B in deal value across 28 transactions in Q1 2026.
LinkedIn: Centerview Partners on LinkedIn
Sector Focus: Consumer, healthcare, technology
Deal Type: Both
Deal Size: $500M+
Location: New York, NY
Website: centerviewpartners.com
8. Moelis & Co.
Independent advisory bank that takes complex situations; senior bankers on every file.
Recent Deals: Advised on $17.1B in deal value across 32 transactions in Q1 2026.
LinkedIn: Moelis & Co. on LinkedIn
Sector Focus: Diversified
Deal Type: Both
Deal Size: $50M - $5B
Location: New York, NY
Website: moelis.com
9. Jefferies
Strong in energy, TMT, and industrials; active in both middle and upper-middle market deals.
Recent Deals: Ranked top 5 in oil and gas M&A advisory by deal count in Q1 2026.
LinkedIn: Jefferies on LinkedIn
Sector Focus: Energy, TMT, industrials
Deal Type: Both
Deal Size: $100M - $2B
Location: New York, NY
Website: jefferies.com
10. William Blair
Middle market specialist with deep expertise in tech and business services.
Recent Deals: Advised Equine Network on its sale to Global Sport Group (CVC Capital Partners) in 2025.
LinkedIn: William Blair on LinkedIn
Sector Focus: Technology, business services, consumer
Deal Type: Sell-side
Deal Size: $50M - $500M
Location: Chicago, IL
Website: williamblair.com
11. Lincoln International
Ranked #1 for PE-backed industrial sell-side exits by Mergermarket in 2025.
Recent Deals: Completed 80 PE-backed industrial sell-side transactions globally in 2025.
LinkedIn: Lincoln International on LinkedIn
Sector Focus: Industrials, business services, technology
Deal Type: Sell-side
Deal Size: $25M - $500M
Location: Chicago, IL
Website: lincolninternational.com
12. Harris Williams
PE-focused sell-side specialist in consumer, services, and healthcare deals.
Recent Deals: Consistently among the top mid-market advisors by PE-backed deal count in 2025.
LinkedIn: Harris Williams on LinkedIn
Sector Focus: Consumer, services, healthcare, human capital
Deal Type: Sell-side
Deal Size: $25M - $500M
Location: Richmond, VA
Website: harriswilliams.com
13. Piper Sandler
Strong in healthcare and technology M&A; active across middle market deals in the US.
Recent Deals: Advised Simple Mills in its acquisition by Flowers Foods in 2025; closed $13.6B across 35 deals in Q1 2026.
LinkedIn: Piper Sandler on LinkedIn
Sector Focus: Healthcare, technology, consumer
Deal Type: Both
Deal Size: $50M - $1B
Location: Minneapolis, MN
Website: pipersandler.com
14. Robert W. Baird
Broad middle market coverage with strong PE-backed deal flow in industrials and services.
Recent Deals: Co-advised on the EOS fitness sale in 2025; closed $8.6B across 36 deals in Q1 2026.
LinkedIn: Robert W. Baird on LinkedIn
Sector Focus: Industrials, services, PE-backed businesses
Deal Type: Both
Deal Size: $25M - $500M
Location: Milwaukee, WI
Website: rwbaird.com
How to find a US M&A advisor
Most good M&A advisors in the US come from referrals. Your attorney, CFO network, or existing PE sponsor will know who to call.
Run a bake-off with 3-5 firms before committing to one. Ask each firm to show their comparable closed deal list, not just their pitch slides.
Avoid advisors who push you to sign before they understand your business. A good advisor asks more questions than they answer in your first meeting.
Read up on M&A deal types before your first advisor call. Understanding deal structure helps you evaluate what each firm is actually proposing.
Sell-side vs buy-side advisors
A sell-side advisor represents the company being sold. They build the buyer list, run the full process, and negotiate on your behalf.
A buy-side advisor helps acquirers identify targets and value them accurately. Most founders selling a business only need the sell-side type.
Buy-side mandates typically come from PE firms and corporate development teams. If you're a seller, make sure your shortlist firms specialize in sell-side work.
Read the full M&A process breakdown before you hire anyone. Knowing every stage helps you evaluate how prepared each advisor actually is.
Preparing for your first advisor call
Advisors expect to see your financial model before the first call. If you can't share it clean and organized, you're not ready to run a process.
Have 3 years of historical financials and a 2-year forward model ready. Include your cap table, existing debt schedule, and customer concentration data.
Most advisors will ask for your top customer list and revenue breakdown by segment. Don't hide concentration risk - they'll find it in due diligence anyway.
Use Ellty to organize all of this before the meeting. Share a trackable link so your advisor can review on their own timeline.
How Ellty helps you close an M&A deal in the US
Your US advisor shortlist is now ready to action. Open a data room before your first advisor call arrives.
- 1.Upload your M&A documents to a secure roomAdd your financials, legal docs, and cap table now.
- 2.Set view and download rights for each partyControl who sees what across buyers and advisors.
- 3.See who reads what and follow up fasterTrack opens and page time to find serious buyers.
Common questions about US M&A advisors
- Ask for closed deals in your sector and deal size range. A firm that can't show a relevant track record won't close yours.
- Most US advisors charge 1-3% on deals above $50M. Monthly retainers of $10K-$50K per month also apply.
- Before your first advisor meeting, not after the LOI. An Ellty data room takes 10 minutes to set up and share.
- For deals under $500M, a boutique almost always wins. You'll get senior bankers, not associates, on your file.
- Most mid-market deals close in 6-9 months from advisor engagement. Complex cross-border deals can run 12-18 months total.
- Three years of financials, a cap table, and a forward model. Disclose any existing LOIs or other offers upfront.
