M&A Advisor in Tampa | 2026 Guide to LMM Sell-Side Deals

Updated Q3 2026.

Hiring an M&A advisor in Tampa is one of the highest-value decisions a Hillsborough or Pinellas founder makes before selling a business. Tampa Bay has become one of Florida’s most active lower middle market corridors, with roughly 180 to 220 disclosed and undisclosed LMM transactions closing in 2025 across healthcare, home services, technology, and industrials. This page is a working shortlist for owners who want a Tampa-headquartered sell-side team, plus the fee ranges, EBITDA multiples, PE buyer pool, and legal and accounting bench you should benchmark against before signing an engagement letter. For statewide context and firms outside the metro, cross-reference our Florida M&A advisor overview.

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

A Tampa M&A advisor runs the sell-side process end to end for a lower middle market owner: valuation prep, buyer list construction, confidential marketing through a CIM, management meetings, LOI negotiation, and diligence coordination through closing. The Tampa specialty is fluency with Florida-based PE buyers, no-state-income-tax structuring, and the region’s dominant verticals of healthcare, home services, and industrials.

Owners often confuse business brokers with M&A advisors. A broker typically handles main street deals under $2M in enterprise value, works from a database of retail buyers, and takes a flat commission at closing. An M&A advisor operates one tier up. The engagement includes a written valuation opinion, a targeted buyer outreach list of 50 to 200 strategic acquirers and PE funds, a data room build, and quarterback-level involvement through the LOI, purchase agreement, and closing checklist. Tampa firms like Hyde Park Capital, Stratus Corporate Finance, and Mary Street Capital operate in this middle band, while Raymond James’s Middle-Market M&A Group sits above the LMM floor at roughly $20M to $100M enterprise value.

What separates a good Tampa advisor from a competent one is buyer network depth in Florida-specific PE. Tampa Bay attracts capital from South Florida family offices, Naples-based holding companies, and Northeast funds building Sunbelt platforms. A senior banker who has closed 20-plus deals in the metro over the past decade will already have direct partner-level relationships at Sun Capital, KLH, Ballast Point, and HGGC. That access shortens the auction timeline and lifts final bids relative to a generalist national firm running the same process cold.

Which M&A advisors serve Tampa LMM sellers?

Six Tampa-area M&A advisors cover the LMM range from main street through $300M enterprise value. Hyde Park Capital Advisors is the flagship boutique with the deepest recent sell-side track record. Stratus Corporate Finance, Parkland Capital Partners, Mary Street Capital, Raymond James, and TAMBAY round out the shortlist across generalist, sector-focused, and founder-owned mandates.

Below is the working Tampa Bay sell-side shortlist. Every firm listed has a physical Tampa or Tampa Bay office and an active LMM practice. For firms in Orlando, Miami, or Jacksonville, use the Florida statewide advisor page.

Verified Tampa Bay M&A advisors, 2026

Firm	Office	Deal size (EV)	Focus
Hyde Park Capital Advisors	Downtown Tampa, W Kennedy Blvd	$10M to $300M	Diversified: healthcare, industrials, tech
Stratus Corporate Finance	Tampa	$1M to $20M	Sell-side generalist, LMM focus
Parkland Capital Partners	Tampa Bay	$1M to $100M revenue	Real estate services, property management, energy, infrastructure
Mary Street Capital	Tampa (Kaufman Rossin affiliate)	Middle market	Family and founder-owned mandates
Raymond James Middle-Market M&A Group	HQ St. Petersburg	$20M to $100M	Generalist coverage above LMM floor
TAMBAY Mergers & Acquisitions	Tampa	Main street to lower LMM	Founder-owned businesses

Hyde Park Capital carries the strongest recent Tampa sell-side sheet, with three closed transactions in 2024 and 2025 including EMI Industries to LSI Industries (~$50M, April 2024), VitalTech to CoachCare (March 2025), and Infiniti Medical to CIMA Animal Health (March 2025). Mary Street Capital is the newest addition, launched in October 2025 as the investment banking affiliate of Kaufman Rossin, which pairs a top-five Florida CPA firm’s transaction advisory practice with a dedicated investment banking front end.

“When a Tampa Bay owner asks us who should run their process, the honest answer depends on ticket size. Under $20M enterprise value, Stratus and TAMBAY are efficient. Between $20M and $100M, Raymond James, Mary Street, and Hyde Park all compete on merit. Above $100M, Hyde Park is the local flag-carrier, but you should also invite a bulge or upper-middle-market firm to bid the mandate.” CT Acquisitions research desk

How do Tampa fees compare to national LMM benchmarks?

Tampa M&A advisor fees track national lower middle market norms. Expect a monthly retainer of $10K to $50K credited against success, a Lehman-formula or modified Double Lehman success fee scaling from 3 to 8 percent of transaction value, a work fee at engagement of $25K to $100K, and expense reimbursement. Total advisor cost typically lands between 3 and 6 percent of enterprise value on deals over $25M.

The Lehman formula and its modern variants remain the reference points. Standard Lehman pays 5 percent on the first $1M, 4 percent on the second, 3 percent on the third, 2 percent on the fourth, and 1 percent on everything above. The problem for LMM sellers is that standard Lehman on a $50M deal collapses to under 1 percent, which no reputable advisor will accept. Double Lehman doubles each tier, and modified Lehman variants tier at 8 percent, 6 percent, 4 percent, and 2 percent. Most Tampa firms working the $20M to $100M range quote a blended 3 to 5 percent all-in success fee with a floor.

Typical Tampa LMM advisor fee structure by deal size

Enterprise value	Monthly retainer	Success fee range	Effective all-in
$1M to $5M	$5K to $15K	8 to 12 percent	8 to 12 percent
$5M to $20M	$10K to $25K	5 to 8 percent	5 to 8 percent
$20M to $50M	$15K to $35K	3 to 5 percent	3 to 5 percent
$50M to $150M	$25K to $50K	1.5 to 3 percent	2 to 3.5 percent
$150M+	$40K+	1 to 2 percent	1.5 to 2.5 percent

Tail provisions matter more than headline percentages. A standard tail runs 12 to 24 months after engagement termination, meaning the advisor still earns their fee if you close with any introduced buyer during that window. Tampa engagement letters increasingly include exclusivity carve-outs for pre-existing buyer relationships that the owner names in a schedule at signing. If you have a known strategic buyer already in play, negotiate the carve-out on day one rather than after the fact.

What EBITDA multiples are Tampa businesses selling for in 2026?

Tampa 2026 EBITDA multiples run 4x to 6x for main street sub-$2M EBITDA businesses, 6x to 9x for LMM $2M to $10M EBITDA companies, and 9x to 12x for scaled platforms above $10M EBITDA in favored verticals like healthcare, cybersecurity, and specialty industrials. Multiples in Tampa run slightly above the national LMM median because of PE inbound migration and no-state-income-tax structuring.

Multiples are not free money. They compress fast for concentration risk (one customer over 20 percent of revenue), for owner dependence (the seller runs sales personally), and for undocumented add-backs. A Tampa HVAC business with $3M in EBITDA that presents clean books, a working general manager, and no customer over 10 percent will command 6.5x to 7.5x today. The same business with owner-run sales and one 30 percent customer trades at 4.5x to 5.5x. That gap is real money: on $3M of EBITDA, it’s $6M to $9M of enterprise value.

Tampa 2026 EBITDA multiple ranges by vertical and size

Vertical	Sub-$2M EBITDA	$2M to $10M EBITDA	$10M+ EBITDA
Healthcare and physician practices	5x to 6.5x	7x to 9x	9x to 12x
Home services (HVAC, plumbing, electrical)	4x to 5.5x	5.5x to 7.5x	7.5x to 10x
Technology (cloud, cybersecurity)	5x to 7x	7x to 10x	10x to 14x
Professional services (accounting, engineering)	4x to 5.5x	6x to 8x	8x to 10x
Senior services and specialty care	4x to 6x	6x to 8.5x	8.5x to 11x

Recent closed comps anchor the ranges. EMI Industries sold to LSI Industries in April 2024 for approximately $50M with Hyde Park Capital as sell-side advisor. VitalTech and Infiniti Medical both closed in March 2025 with Hyde Park sell-side. Sko-Die sold to Associated Spring in June 2025 with CLA as sell-side advisor. Precedent deals in the metal fabrication and specialty industrial band closed at 7x to 9x trailing EBITDA for buyers with clear synergy stories.

Which PE firms have offices in Tampa?

Tampa Bay hosts at least 11 dedicated private equity offices as of 2025 per Cobble Hill Group’s Florida PE census, plus satellite coverage from Miami and Fort Lauderdale funds. Notable Tampa-area PE firms include KLH Capital Partners, Ballast Point Ventures, Florida Funders, Bayshore Capital, HGGC’s Florida coverage, and Sun Capital Partners’ South Florida presence.

The Tampa PE story is one of sustained inbound migration from higher-tax states. Dakota’s Top 10 Private Equity Firms in Tampa 2025 confirms the trend, and Cobble Hill Group’s census counts 11 firms with a dedicated Tampa office presence. Local names skew LMM and growth equity. KLH Capital Partners is a Tampa-based LMM specialist writing $10M to $50M equity checks. Ballast Point Ventures focuses on growth equity in the Southeast. Florida Funders runs a venture and growth strategy. Bayshore Capital is a boutique operating out of Tampa. On the larger end, Sun Capital Partners covers Tampa Bay from its South Florida platform, and HGGC is active across Florida middle market situations.

For sellers, the practical takeaway is that a well-run Tampa auction will draw at least 15 to 25 credible PE bidders when the sector is right. Advisors work from proprietary buyer lists tuned to the vertical: home services processes attract a different pool than healthcare rollups or cybersecurity platform builds. Ask any advisor you interview for their last five closed LMM deals in your sector and the buyer names on each. The answer separates the firms with real Florida PE relationships from those running mass outreach.

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

Tampa’s dominant 2026 M&A verticals are healthcare and physician practices, construction and home services (HVAC, plumbing, electrical), technology (cloud, cybersecurity, data analytics), professional services (accounting, engineering, consulting), and senior services. All five sectors show sustained PE roll-up activity and strategic acquirer interest, with healthcare and home services taking the largest share of 2025 deal count.

Healthcare and physician practices dominate LMM deal count. Tampa’s demographic profile favors specialty practices in dermatology, orthopedics, gastroenterology, and behavioral health. National PE-backed platforms like Advanced Dermatology, US Dermatology Partners, and Gastro Health regularly acquire Tampa Bay practices as tuck-ins. Multiples for scaled specialty groups clear 10x adjusted EBITDA when payer mix is favorable.

Home services is the second engine. HVAC, plumbing, and electrical roll-ups continue to consolidate the Bay Area. The buyer pool includes PE-backed platforms (Wrench Group, Apex Service Partners, Peak Living), strategic public acquirers, and Southeast regional consolidators. Tampa’s population growth and hot-weather climate mean HVAC replacement cycles are shorter than the national average, which supports revenue quality.

Technology, particularly cybersecurity and cloud services, sees strong deal flow. Tampa is home to a growing cyber cluster anchored by USF’s Cyber Florida initiative and the presence of large managed services players. Professional services (accounting practices, engineering firms) and senior services (home health, assisted living, hospice) round out the top five.

Beneath the top five sit two rising sub-verticals worth calling out. First, the marina and marine services trade along the Bay corridor has drawn PE roll-up interest in 2025 as boat repair, dockage, and marine electronics operators consolidate. Multiples for scaled marina platforms clear 7x to 9x adjusted EBITDA. Second, specialty construction subtrades (roofing, waterproofing, coatings, glass) have benefited from post-hurricane rebuild demand and insurance-driven revenue tailwinds. Buyer interest here comes from Southeast regional consolidators and insurance-linked PE platforms.

The vertical mix also drives which advisor you should pick. If you own a physician practice, a firm that has closed three healthcare rollups in the past 24 months will run a better process than a generalist. If you own an HVAC company doing $8M in EBITDA, a firm with direct partner-level ties to Apex Service Partners, Peak Living, and Wrench Group will save you two months of buyer education. Vertical fluency compounds in the LOI and diligence phases, where sector-specific issues (payer mix, licensing, install-base handoffs, insurance receivables) can add or subtract millions from the final purchase price.

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

The core Tampa M&A legal bench is Holland & Knight, Carlton Fields, and Trenam Law. On the accounting side, Kaufman Rossin (now paired with Mary Street Capital), CBIZ MHM Tampa Bay, and CLA (CliftonLarsonAllen) lead sell-side quality of earnings, tax structuring, and post-close integration work. All six firms have physical Tampa or St. Petersburg offices with dedicated M&A partners.

Holland & Knight is headquartered in Tampa and was named 2025 M&A Law Firm of the Year at the 24th Annual M&A Advisor Awards, and USA Private Equity Law Firm of the Year 2025. The firm is Legal 500 ranked in M&A middle-market sub-$500M. Carlton Fields was founded in Tampa in 1901 and runs a full-service M&A practice covering asset sales, stock deals, joint ventures, and PE fund representation. Trenam Law represents both sellers and purchasers in stock and asset transactions, with precedent including a $90M enterprise-value sale to a middle-market PE firm.

Tampa M&A legal and accounting bench, 2026

Firm	Type	Tampa office	Recognition or role
Holland & Knight	Law	HQ Tampa	2025 M&A Law Firm of the Year, Legal 500 ranked
Carlton Fields	Law	Founded 1901 in Tampa	Full-service M&A, PE fund representation
Trenam Law	Law	Tampa	$90M sell-side precedent
Kaufman Rossin	Accounting	Tampa presence	Largest independent Florida CPA, MD Fernando Miranda leads TAS
CBIZ MHM Tampa Bay	Accounting	St. Petersburg	4th largest Tampa Bay tax, accounting, consulting provider
CLA (CliftonLarsonAllen)	Accounting	201 N. Franklin Street, Tampa	CLA Meridian Capital IB arm, sell-side on Sko-Die (June 2025)

On accounting, Kaufman Rossin’s transaction advisory practice under MD Fernando Miranda is now paired with the newly launched Mary Street Capital investment banking affiliate, which gives Kaufman Rossin clients an in-house sell-side option. CBIZ MHM Tampa Bay ranks as the 4th largest tax, accounting, and consulting provider in the metro and covers sell-side quality of earnings, tax structuring, and post-deal integration. CLA operates from 201 N. Franklin Street and pairs transaction advisory with the CLA Meridian Capital investment banking arm, which advised on the Sko-Die sale to Associated Spring in June 2025.

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

Selling in Tampa versus elsewhere in Florida comes down to buyer pool depth and vertical mix. Tampa Bay has denser LMM PE and boutique advisor coverage per capita than Jacksonville or Orlando, though Miami still leads on absolute deal count. Tampa favors home services, healthcare, tech, and industrials; Miami skews Latin America, hospitality, and real estate; Orlando skews tourism-adjacent and construction; Jacksonville skews logistics and financial services.

Florida’s no-state-income-tax structuring is the constant. All four major metros benefit from the same tax posture, which lifts after-tax proceeds for a Florida-resident owner by 4 to 13 percentage points relative to a New York or California seller of the same business. The delta shows up most on installment sales, seller notes, and rollover equity where the seller carries proceeds forward across multiple tax years.

Where Tampa outperforms is boutique advisor concentration. Hyde Park Capital, Stratus, Mary Street, Raymond James, TAMBAY, and Parkland collectively cover the full LMM range without needing to import a South Florida firm. For deals over $150M, most Tampa owners still invite a Miami or Atlanta upper-middle-market firm to compete for the mandate. See our Florida M&A advisor page for a state-level comparison and firms outside the Tampa Bay metro.

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

Ask ten questions before signing an engagement letter: closed LMM deals in the last 24 months, deals in your specific vertical, buyer list depth for your sector, senior banker time commitment, tail length, work fee treatment, exclusivity carve-outs for pre-existing buyer relationships, quality of earnings coordination, retention of seller counsel, and post-LOI diligence quarterback protocol.

1. How many LMM sell-side deals have you closed in the last 24 months and in what size range?
2. How many of those were in my specific vertical, and what were the enterprise values and multiples?
3. Who runs my process day to day, and how many hours per week does the senior banker personally spend on my mandate?
4. How long is your tail, and what does the exclusivity carve-out look like for buyers I’ve already spoken with?
5. Is the work fee credited fully against the success fee at closing?
6. Which quality of earnings firm do you typically pair with, and can I use Kaufman Rossin, CBIZ MHM, or CLA if I prefer?
7. Which Tampa or Florida law firms do you recommend for sell-side counsel, and why?
8. What does your buyer list look like for my sector, and can I see a redacted example from a recent similar deal?
9. What is your quarterback protocol post-LOI through diligence and closing?
10. What are the two or three biggest value gaps in my business right now, and what would you do in the 90 days before we go to market?

The answer to question ten separates advisors who see your business clearly from those who are pitching. A good Tampa banker who has scanned your P&L, your customer concentration, and your management depth will name specific value-lifters (fix the customer concentration, hire a GM, clean up owner add-backs, formalize the recurring revenue book) rather than generic platitudes.

Related CT Acquisitions guides

These companion guides cover the sell-side process end to end. Read alongside this page for the full picture on fees, timelines, and buyer archetypes.

• M&A Advisory Pillar Guide (2026)
• Buy-Side M&A Advisory
• Lower Middle Market M&A Advisor
• Business Appraisal Cost 2026
• Investment Bank Fees LMM 2026
• Quality of Earnings (QoE) Guide
• M&A Advisor for HVAC Business
• M&A Advisor for Plumbing Business
• M&A Advisor for Orthopedic Practice

FAQ

How long does a Tampa M&A sell-side process take?

A well-run Tampa LMM sell-side process runs 6 to 9 months from engagement to closing. Preparation and CIM build takes 6 to 10 weeks. Buyer outreach and management meetings run 8 to 12 weeks. LOI negotiation takes 2 to 4 weeks. Diligence and closing takes 8 to 14 weeks. Rushed processes under 4 months typically leave money on the table.

What is a fair success fee on a $30M Tampa LMM deal?

On a $30M enterprise value Tampa LMM deal, expect a blended success fee of 3 to 5 percent, or $900K to $1.5M. Most Tampa boutiques will structure this as a modified Lehman scale with a floor of $750K to $1M. Watch for tail language, exclusivity carve-outs, and expense caps in the engagement letter.

Do I need a Florida-based law firm for a Tampa sell-side deal?

Not required, but strongly recommended. Holland & Knight, Carlton Fields, and Trenam Law have deep Tampa M&A benches and know the local judiciary if a dispute goes to court. Out-of-state buyer counsel will negotiate faster with a known local counterparty than with an unfamiliar firm.

Should I run a Q of E before or after signing the engagement letter?

After. The advisor and Q of E firm often coordinate closely on add-back positioning and normalized EBITDA presentation. Kaufman Rossin, CBIZ MHM, and CLA all handle Tampa sell-side Q of E work, typically in a 4 to 6 week window before formal buyer outreach begins.

What is a typical retainer for a Tampa M&A advisor?

Monthly retainers range from $10K to $50K depending on deal size. Most Tampa firms credit 100 percent of the retainer against the success fee at closing. Non-refundable work fees at engagement are more common at boutique firms, typically $25K to $100K.

How many PE firms will bid on a well-run Tampa LMM auction?

A well-marketed Tampa LMM auction in a favored sector like home services or healthcare draws 15 to 25 credible PE bids at the initial indication of interest stage, narrowing to 4 to 8 at LOI. Sectors with less PE interest (specialty industrial, niche B2B services) may draw 8 to 15 initial bids.

Can I sell without a Tampa M&A advisor?

Legally yes, financially rarely. Data from Pepperdine’s Private Capital Markets Report and IBBA transaction surveys consistently show advisor-run sell-side processes clear 15 to 25 percent higher final prices than owner-negotiated deals, net of fees. On deals over $5M, the math for using an advisor is nearly always positive.

How does the Florida no-state-income-tax posture affect my proceeds?

A Florida resident owner selling a Florida business saves 4 to 13 percentage points on state income tax versus a New York or California resident. On a $20M net taxable gain, that’s $800K to $2.6M in retained after-tax proceeds. Structuring around the state tax code should be coordinated with your CPA before the LOI is signed.