Minds Capital Podcast Axial’s Lessons From 10,000 Lower-Middle Market Deals
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Jan 7, 2026 
Peter Lehrman, Founder and CEO of Axial, shares his insights from overseeing 10,000 attempted deals in the lower-middle-market M&A arena. He emphasizes the success of independent sponsors, highlighting their need for disciplined entry valuations to generate profitable returns. Peter reveals that most deals close below 7x EBITDA and discusses the importance of strategic partnerships with private equity. He also advises on differentiation through responsiveness and sector specialization, while stressing the value of quality content in building authority.
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Axial's Annual Deal Volume
- Axial records about 10,000 attempted lower-middle-market transactions annually and roughly 25% close.
- That implies roughly 2,500 deals a year are completed from Axial-originated or -facilitated processes.
Axial's Shift From Buy-Side To Sell-Side Value
- Axial started buy-side oriented but learned to serve sell-side brokers and owners as it matured.
- Peter credits expanding focus to intermediaries and owners for unlocking more value in the marketplace.
Control Visibility With Private Sale Processes
- Avoid public-style listings for business sales; control confidentiality and invite buyers selectively.
- Use private sale processes to protect sensitive business information and seller leverage.