M&A Advisor in Miami: Boutique Sell-Side Firms, Fees, and 2026 Multiples

Updated Q3 2026 by CT Acquisitions.

Hiring an M&A advisor in Miami is a different exercise than hiring one in Tampa, Jacksonville, or Orlando. The Miami metro concentrates cross-border capital, relocated private equity, financial services deal flow, and Latin American connectivity in a way no other Florida metro does. For a founder in Miami-Dade, Broward, or Palm Beach thinking about a sale in the next 12 to 36 months, the advisor shortlist is short, the buyer pool is unusually deep, and the pricing dynamics reward local execution. This page maps the boutique sell-side bench serving lower-middle-market ($5M-$150M EV) owners, the fee ranges you should expect, the 2026 EBITDA multiples we are seeing on closed South Florida processes, and the local legal and accounting bench you will want beside you.

For statewide context beyond Miami, our parent M&A advisor in Florida page covers cross-metro comps, statewide buyer flow, and Florida-specific tax positioning (including the residency-driven capital gains dynamic that pulls sellers into Miami-Dade in the year of exit).

What does an M&A advisor in Miami actually do?

A Miami M&A advisor runs a sell-side process for a business owner, typically covering positioning, buyer-list construction, confidential outreach, information memorandum drafting, indication-of-interest gathering, management meetings, letter-of-intent negotiation, and diligence quarterback duties through closing. In the Miami metro, that job usually includes cross-border buyer outreach and coordination with in-state PE relocations.

The job of an M&A advisor in Miami is structurally the same as anywhere else: represent the seller, run a competitive process, hold pricing tension, and get to a signed purchase agreement. The metro-specific overlay is what changes. A Miami sell-side engagement typically leans heavier on cross-border buyer outreach (Latin American strategics and family offices, plus European buyers running dollar-denominated theses), coordination with the relocated hedge fund and PE community concentrated in Brickell and Coconut Grove, and diligence choreography around Florida’s homestead and residency rules for owners who are timing their exit around a state-tax residency window.

Practically, the deliverables on a Miami sell-side engagement are:

• Positioning memo and confidential information memorandum (CIM)
• Buyer list segmented by strategic, financial (US PE), Latin American, and family-office buckets
• Teaser and NDA workflow
• Management meeting choreography (often in-person in Brickell or Coconut Grove for finance-services deals, or on-site for logistics and healthcare assets)
• IOI and LOI negotiation, working capital peg, escrow, and rep-and-warranty structuring
• Diligence coordination through closing, including QoE, legal, tax, and (for cross-border deals) CFIUS screening where applicable

For a broader view of the sell-side process, see our sell-side M&A process guide and the walkthrough on quality of earnings reports.

Which M&A advisors serve Miami LMM sellers?

The core verified boutique bench serving Miami lower-middle-market sellers ($5M-$150M enterprise value) includes Cassel Salpeter & Co, Cross Keys Capital (with C&Co), and Global Deal Advisors. Raymond James also has a major Miami presence and reaches down into upper-LMM engagements. Each firm’s fit varies by sector and deal size.

Below are the verified boutique advisors most active in the Miami LMM segment. This is not an exhaustive league table; it is the short list a Miami owner should typically consider first when building a beauty-contest shortlist.

Firm	HQ / Miami base	Deal size (EV)	Sector focus
Cassel Salpeter & Co	Coconut Grove (relocated Feb 1, 2026 from downtown Miami)	$20M-$300M	Generalist LMM; healthcare, industrials, business services, consumer; 50+ assignments completed 2025
Cross Keys Capital / C&Co	Fort Lauderdale-anchored, South Florida	$10M-$200M	20+ professionals, $3B+ closed; industrials, healthcare, business services
Raymond James	Major Miami presence (HQ in St. Petersburg)	LMM through mid-cap	Full-service; strong in financial services, healthcare, technology
Global Deal Advisors	Miami	LMM cross-border	Latin American connectivity, cross-border strategics, family offices

A few notes on how to read this list. Cassel Salpeter & Co has been the workhorse Miami-headquartered boutique since 2010 and completed more than 50 assignments in 2025, per its own disclosures. Its February 2026 relocation to Coconut Grove is worth flagging because founders now meet the team in a different physical office than they may have visited in prior processes. Cross Keys Capital, anchored in Fort Lauderdale but active across the tri-county area, is more industrials-and-services heavy. Raymond James is a fundamentally different animal (public firm, deep balance sheet) and tends to compete for the upper end of the Miami LMM band or graduate into mid-cap territory. Global Deal Advisors is the firm most Miami owners consider when their buyer pool is heavily Latin American strategics or family offices.

“When we shortlist Miami advisors for a client, the first cut is almost never about brand. It is about buyer-pool overlap. A logistics owner near PortMiami and a fintech founder in Brickell need two very different Rolodexes, and the boutique that runs a great process for one will not run a great process for the other.” CT Acquisitions, sell-side advisory desk

How do Miami M&A advisor fees compare to national LMM benchmarks?

Miami boutique fees for a sell-side engagement typically run 1%-2% of enterprise value on transactions above $50M and 3%-5% on transactions in the $10M-$30M range, with monthly retainers of $10K-$25K credited against the success fee. Modified Lehman and Double Lehman variants are common. Miami is not meaningfully more expensive than the national LMM median.

Miami advisor fees track national LMM benchmarks closely. The dispersion within Miami is driven by deal size and complexity, not by geography. A financial-services carve-out with cross-border buyers and CFIUS exposure will be priced differently than a straightforward Kendall-based HVAC roll-up sale, even if both close for similar EVs.

Deal size (EV)	Typical success fee	Retainer	Structure
$5M-$15M	4%-5%	$10K-$15K/mo	Modified Lehman common; some flat percentages
$15M-$50M	2.5%-4%	$15K-$25K/mo	Modified or Double Lehman
$50M-$150M	1.5%-2.5%	$20K-$30K/mo	Blended, with tail on unclosed introductions
$150M+	1%-1.75%	Negotiated	Custom; success-heavy

A few Miami-specific fee-negotiation notes. First, monthly retainers are almost always creditable against the success fee at closing, and any Miami boutique that will not credit them is an outlier. Second, tail provisions (the period post-engagement during which a fee is still owed on an introduced buyer) are usually 18-24 months in Miami engagements, and 24 is common for cross-border processes because the buyer timeline is longer. Third, minimum fees exist and are especially relevant for sub-$15M EV deals: expect a $200K-$400K floor from most Miami boutiques.

For a national benchmark on these numbers, GF Data publishes quarterly LMM completed-deal statistics that align with the ranges above, and Firmex’s LMM survey work is a useful cross-check. Our M&A advisor fee guide breaks down retainer, success fee, and tail mechanics in more detail.

What EBITDA multiples are Miami businesses selling for in 2026?

Miami LMM businesses are trading at a blended 6.5x-9.5x EBITDA in 2026, with financial services and fintech assets at 10x-14x, healthcare services at 7x-11x, logistics at 6x-8x, and industrials at 5.5x-7.5x. Cross-border processes with Latin American buyer exposure sometimes carry a discount that Miami premium partially offsets.

Multiples in the Miami metro are being driven by three overlapping dynamics: the relocated PE community bidding up local platforms, the cross-border buyer pool adding an extra bidder to most competitive processes, and the financial-services in-migration lifting revenue-multiple math for anything adjacent to wealth management, fintech, or capital markets services.

Vertical	Typical 2026 multiple (LMM)	Notes
Financial services / fintech	10x-14x EBITDA	Wealth mgmt, RIAs, fintech infra; PE-hub competition
Healthcare services	7x-11x EBITDA	Dermatology, dental, primary care, physical therapy
Logistics / trade services	6x-8x EBITDA	PortMiami and MIA-driven; freight forwarding, 3PL
Industrials / distribution	5.5x-7.5x EBITDA	National norms; scale premium above $10M EBITDA
Real estate services	6x-9x EBITDA	Property management, brokerage back-office
Business services	6x-8x EBITDA	Marketing, staffing, professional services

Two Miami-specific pricing notes worth surfacing. First, cross-border deals with a heavy Latin American strategic bid can carry an execution discount (currency, sovereign, and diligence-timeline risk) that gets partially offset by the Miami premium (buyer density, tax positioning, cross-border familiarity). Net-net, cross-border and domestic bids often converge within 0.5x-1x on the same asset. Second, financial-services multiples in Miami have expanded meaningfully since 2022 as Thoma Bravo, Citadel, and the broader PE relocation wave brought bidding depth that simply did not exist in the metro five years ago.

For statewide comparison, see our Florida M&A advisor page for cross-metro multiple ranges (Tampa Bay, Jacksonville, Orlando, and Southwest Florida each trade differently). Our EBITDA multiples by industry reference tracks national LMM comps that anchor these Miami ranges.

Which PE firms have offices in Miami?

The Miami metro hosts an unusually dense concentration of private equity firms including Thoma Bravo (relocated 2020), Citadel (2022), H.I.G. Capital (Miami HQ), Comvest Partners (West Palm Beach), Sun Capital Partners (Boca Raton), Palm Beach Capital, and Fireman Capital Partners. This depth is a key part of why Miami LMM auctions are competitive.

The private equity map in South Florida changed structurally between 2020 and 2024. Thoma Bravo relocated its headquarters from Chicago to Miami in 2020. Citadel, both the hedge fund and its investment platform, followed from Chicago in 2022. Dozens of smaller firms and family offices made the same move over the same window. For a Miami LMM seller, that PE density translates into more bidders per competitive process and shorter travel logistics for management meetings.

PE firm	Base	Focus
Thoma Bravo	Miami (relocated 2020)	Global software PE
Citadel	Miami (relocated 2022)	Hedge fund and PE platform
H.I.G. Capital	Miami HQ	LMM through mid-cap, global platform
Comvest Partners	West Palm Beach	LMM buyouts and credit
Sun Capital Partners	Boca Raton	LMM and mid-cap buyouts
Palm Beach Capital	West Palm Beach	LMM growth and buyouts
Fireman Capital Partners	Miami	Consumer and growth

A note on how a Miami advisor uses this list. On any given sell-side process in the metro, the boutique will typically outreach 30-80 financial buyers. A meaningful portion of that list will be South Florida firms not because of geographic bias but because the local firms have direct sourcing pipelines into their own metro. Owners often meet more South Florida PE buyers in the first two weeks of a process than they had cumulatively met in the prior five years. For context on how PE buyers price and structure LMM deals, see our private equity buyer types guide.

What are the dominant Miami M&A verticals in 2026?

The dominant Miami LMM M&A verticals in 2026 are financial services and fintech (driven by hedge fund and PE in-migration from New York and Chicago), real estate services, healthcare services, logistics tied to PortMiami and Miami International Airport, Latin American cross-border deals, and technology (Miami tech in-migration since 2020).

Vertical concentration matters when choosing an advisor because Rolodex overlap drives outcomes. The verticals below are the ones we see repeatedly in Miami process runs during 2025 and the first three quarters of 2026.

• Financial services and fintech. RIAs, wealth-management platforms, capital-markets service providers, and fintech infrastructure. Bidding is deep, multiples are high, and diligence timelines are compressed relative to other verticals.
• Real estate services. Property management, brokerage back-office, title, and adjacent services. Driven by South Florida’s decade of real estate expansion and PE roll-up capital.
• Healthcare services. Dermatology, dental, primary care, physical therapy, and behavioral health. Miami is a mature MSO market with meaningful PE-backed platform depth.
• Logistics. PortMiami is the largest passenger port in the world and one of the largest cargo ports in the Southeast; Miami International Airport is a top-tier freight hub. Freight forwarding, 3PL, and customs-brokerage assets trade actively.
• Latin American cross-border. Assets with revenue exposure to Latin America (either sourcing or distribution) attract a distinct buyer pool. Miami advisors with cross-border desks are the standard route.
• Technology. Miami tech in-migration (venture-backed and bootstrapped) has produced a growing LMM technology asset base. Buyer competition is broader than in prior years.

Which local law firms and accounting practices handle Miami sell-side deals?

The dominant Miami legal bench for LMM sell-side transactions includes Greenberg Traurig, Akerman, and Holland & Knight (all Miami-headquartered). On the accounting side, Kaufman Rossin (the largest independent Florida accounting firm) and Andersen (formerly MBAF) handle the majority of local sell-side QoE work, alongside all Big 4 firms which maintain major Miami offices.

The Miami legal and accounting bench is deep, which materially reduces execution risk for out-of-state and cross-border buyers. When a New York or Chicago-based PE firm evaluates a Miami LMM asset, one of the diligence checkboxes is whether local counsel and local accountants can carry the file. In Miami that checkbox is easy.

Firm	Type	M&A specialty
Greenberg Traurig	Law (Miami HQ, largest FL firm globally)	M&A powerhouse; corporate, tax, real estate
Akerman	Law (Miami HQ)	Corporate transactions, real estate, healthcare
Holland & Knight	Law (Miami HQ)	M&A, real estate, immigration, cross-border
Kaufman Rossin	Accounting (Miami HQ)	Largest independent FL firm; LMM sell-side QoE
Andersen (formerly MBAF)	Accounting (Miami HQ)	LMM sell-side QoE, tax structuring
Deloitte, EY, KPMG, PwC	Big 4 (all major Miami offices)	Upper-LMM and mid-cap QoE and tax

Practical guidance: for a $10M-$30M EV deal, Kaufman Rossin or Andersen for QoE plus Akerman or a Greenberg Traurig corporate partner for legal is the modal Miami LMM setup. Above $50M EV, Big 4 QoE becomes common because buyers request it. Below $10M EV, regional accounting firms often handle QoE, and legal fees compress meaningfully. Our exit preparation guide covers the 12-24 month runway that most Miami owners use to get their books, contracts, and management team ready for buyer diligence.

How does selling in Miami differ from selling elsewhere in Florida?

Selling in Miami differs from selling elsewhere in Florida primarily through buyer-pool depth (relocated PE, cross-border strategics), vertical mix (financial services, cross-border, logistics), and diligence choreography (in-person Brickell and Coconut Grove meetings are the norm). Multiples in financial services and fintech run above the state median. Tampa, Jacksonville, and Orlando each have distinct dynamics.

Miami is not a proxy for Florida. A founder selling a Tampa-based industrial distributor faces a different buyer pool, a different multiple range, and a different set of local advisors than a founder selling a Brickell-based fintech infrastructure company. The differences we most often flag to Miami owners considering their advisor choice:

• Buyer-pool depth. Miami’s relocated PE community and Latin American strategic overlay add bidders that Tampa, Jacksonville, and Orlando processes do not see.
• Vertical concentration. Financial services, cross-border, and PortMiami logistics are Miami-specific. Tampa leans defense and business services; Jacksonville leans logistics and financial services; Orlando leans tourism-adjacent services and technology.
• In-person meeting norms. Miami buyers expect in-person Brickell or Coconut Grove management meetings, especially for financial services deals. Elsewhere in Florida, Zoom-first workflows are more common.
• Legal and accounting depth. Miami’s bench is the deepest in the state. Sellers in the metro rarely need to import out-of-state advisors.
• Tax and residency choreography. Owners timing an exit around Florida residency windows often route through Miami-Dade because that is where their tax counsel and QoE providers are already engaged.

The parent Florida M&A advisor page includes cross-metro comps and the statewide buyer flow context that puts these Miami-specific differences in perspective.

What questions should you ask a Miami M&A advisor?

Ask a Miami M&A advisor how many South Florida LMM sell-side processes they closed in the last 24 months, whether they have direct relationships with the relocated PE firms and Latin American strategic buyers relevant to your vertical, what their fee structure and tail provisions look like, and who at the firm will actually run your process week-to-week.

The beauty-contest phase is where founders under-diligence advisors more than any other single step. Below is the question set we recommend Miami owners run through with each shortlisted boutique.

1. How many sell-side processes in my vertical, at my deal size, have you closed in South Florida in the last 24 months? Names, dates, outcomes.
2. Which of the relocated Miami PE firms (Thoma Bravo, Citadel, H.I.G., Comvest, Sun Capital) will you outreach on my process, and what is your direct relationship at each?
3. What is your cross-border buyer list for my vertical? Latin American strategics, European strategics, and family offices.
4. Who at the firm will run my process week-to-week? Is that the same senior person I am meeting today?
5. What is your fee structure, retainer credit policy, tail length, and minimum fee?
6. How do you handle QoE coordination? Which Miami QoE providers do you route to at my deal size?
7. What is your target buyer-list size for a process like mine, and how do you segment it (strategic vs financial vs cross-border vs family office)?
8. How do you handle confidentiality with employees, customers, and suppliers during a live Miami process?
9. What is your realistic timeline to LOI and to close for a business of my size and vertical?
10. What has gone wrong on your last three Miami processes, and what did you learn?

Frequently asked questions

What is the typical M&A advisor fee for a $20M EV Miami business?

For a $20M enterprise value Miami LMM engagement, expect a success fee of 3%-4% with a $15K-$20K monthly retainer credited against success, a 18-24 month tail, and a minimum fee floor of roughly $300K. Modified Lehman is common. Fee structures do not vary meaningfully by Miami sub-metro (Brickell, Coral Gables, Doral, Aventura, Coconut Grove).

How long does a Miami sell-side process take from engagement to close?

A well-run Miami sell-side LMM process typically runs 6-10 months from engagement to close. Financial services and fintech processes often run at the faster end (5-7 months) because buyer bench depth compresses timelines. Cross-border processes often run longer (9-12 months) because Latin American buyer diligence and regulatory workflows take more time.

Do I need a Miami-based M&A advisor or can I use a national firm?

Either can work. National firms bring brand and mid-cap bench depth; Miami boutiques bring local Rolodex, in-person buyer relationships, and metro-specific vertical knowledge. For LMM deals below roughly $50M EV, Miami boutiques typically outperform. Above $75M-$100M EV, national firms compete more effectively. In the overlap zone, run a beauty contest with both.

What is the impact of the Miami PE relocation on my sale price?

The PE relocation wave (Thoma Bravo 2020, Citadel 2022, plus dozens of smaller firms) added competitive bidders to Miami LMM processes. In financial services, fintech, and technology assets specifically, this has expanded multiples above national LMM medians. In verticals less connected to the relocated firms (industrials, distribution, home services) the effect is smaller but still visible through incremental buyer depth.

How do Latin American cross-border buyers affect a Miami sale?

Latin American strategic buyers and family offices add a distinct bidder pool to Miami processes. For assets with Latin American revenue exposure or brand relevance, they can be the top bidder. Cross-border diligence timelines are longer, currency and sovereign risk affect pricing, and CFIUS screening applies in specific sectors. A boutique with a real cross-border desk (Global Deal Advisors and Cassel Salpeter are two verified examples) is worth prioritizing when Latin American exposure is meaningful.

Should I hire a Miami QoE provider or a Big 4 firm?

For LMM deals under $50M EV, Kaufman Rossin and Andersen (formerly MBAF) are the modal Miami QoE choices and are respected by every relocated PE firm in the metro. For deals above $50M EV, buyers frequently request Big 4 QoE (all four maintain major Miami offices). Below $10M EV, regional firms often carry the file.

Are Miami M&A advisor fees negotiable?

Yes. Retainer amounts, tail length, minimum fees, and the exact success-fee percentage are all negotiable at any Miami boutique. What is less negotiable is the credit of retainer against success fee (universal) and the general Modified or Double Lehman shape. Push on tail length first (24 months can often become 18) and on the minimum fee floor if your deal is at the low end of the boutique’s typical range.

What happens if my Miami process does not close?

Retainer paid to date is retained by the advisor; no success fee is owed. However, most Miami engagement letters include a tail provision (18-24 months) under which a success fee is owed if the seller closes with a buyer the advisor introduced during the engagement. This is standard and enforceable. Clean tail language matters more than the exact tail length; read it carefully.

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This page is maintained by CT Acquisitions and updated quarterly. For the statewide view of Florida sell-side dynamics, see our Florida M&A advisor page. External references used on this page include GF Data quarterly LMM completed-deal statistics, Firmex LMM survey work, PitchBook South Florida deal flow reporting, Cassel Salpeter & Co firm disclosures, Cross Keys Capital firm disclosures, Thoma Bravo relocation filings, Citadel headquarters disclosures, H.I.G. Capital firm disclosures, Greenberg Traurig firm profile, Akerman firm profile, Holland & Knight firm profile, and Kaufman Rossin firm disclosures.