M&A advisor in Louisiana in 2026: how to hire, fees, and sell-side strategy

Updated Q3 2026 by the CT Acquisitions M&A advisory team.

If you are searching for an M&A advisor in Louisiana, you are probably 6 to 18 months from selling a business you have run for 15, 25, maybe 40 years. This page walks through the working economics of that decision. Who the credible LMM advisors are, what they charge, what your business is likely worth, which private equity platforms are actively buying in Louisiana in 2026, how the state tax regime hits your net proceeds, and where the local process differs from a national playbook. No fluff, named entities only, every number cited.

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

An M&A advisor in Louisiana runs a competitive sell-side process for lower middle market businesses, typically those with $1M to $15M in EBITDA. The advisor prepares a confidential information memorandum, targets 40 to 150 strategic and private equity buyers, manages diligence, negotiates the letter of intent and definitive agreement, and coordinates with Louisiana counsel through funded close, usually within 7 to 11 months.

The mechanical work of a sell-side engagement in Louisiana is not different from Houston or Atlanta. Your advisor builds a normalized EBITDA bridge from your tax returns and QuickBooks file, writes a confidential information memorandum that positions the business honestly, screens a buyer universe from proprietary databases such as PitchBook and Sourcescrub, runs a management presentation cycle, and negotiates the letter of intent. The Louisiana-specific pieces show up in the buyer targeting and the regulatory diligence. An advisor who has never closed a deal in the Gulf South will not know which PE platforms in Houston already own the roll-up thesis for your sector, and they will not budget the extra 30 to 60 days that coastal use permits or Louisiana Department of Transportation and Development approvals add to marine transactions.

Good advisors also protect you from yourself in the last 90 days. Diligence lists get long. Buyers push for working capital pegs, indemnity baskets, and rep and warranty carve-outs that would materially change your net proceeds. If you want a walkthrough of what a sell-side engagement looks like end to end, our M&A advisory pillar covers the full sequence, and the lower middle market advisor guide details how the LMM segment differs from Wall Street style processes.

How is an M&A advisor different from a business broker in Louisiana?

A Louisiana M&A advisor is typically FINRA-registered and runs competitive auctions for businesses with $1M or more in EBITDA, charging 3% to 6% success fees. A business broker sells Main Street businesses under $1M in cash flow, often on a single-buyer basis at a 10% commission, and cannot legally place securities. The line at roughly $10M in enterprise value is where advisor economics start winning.

Louisiana has hundreds of business brokers listed with the International Business Brokers Association, and most of them do honest work at the sub-$2M enterprise value tier. The break point is when your business could attract institutional capital. A broker cannot run a securities placement, cannot legally solicit private equity capital under Rule 506, and would not typically have the relationships to get a first meeting with a $500M fund based in Dallas or Chicago. An advisor with a FINRA member firm can. If you are selling a $700K seafood restaurant, hire a broker. If you are selling a $4M EBITDA oilfield services business or a 3-clinic dermatology group, hire an advisor.

Which M&A advisors serve Louisiana LMM sellers?

Five credible Louisiana LMM M&A advisors serve sellers in-state: Chaffe & Associates in New Orleans (founded 1982), Duran Advisors in Metairie, Keelson Advisors in Baton Rouge, Evangeline Securities in Lafayette and New Orleans, and Acadian Capital Advisors in Baton Rouge and Lafayette. Fit varies by sector, with Chaffe carrying the broadest generalist coverage and Duran focused on the $1M to $25M revenue tier.

Chaffe & Associates is the longest-tenured middle market investment bank in the state. Founded in New Orleans in 1982, the firm has closed sell-side and buy-side mandates across manufacturing, distribution, healthcare, business services, and specialty consumer, and it carries the reputation as the default first call for New Orleans owners. The firm operates as a FINRA member and would typically compete for engagements in the $10M to $150M enterprise value band.

Duran Advisors in Metairie serves the smaller LMM tier, targeting sellers with $1M to $25M in revenue. Sectors include hospitality, marine and shipyard support, government contracting, manufacturing, and healthcare. Duran fills the seat between a broker and a full IB and would typically fit owners who are running founder-led businesses and want a Louisiana-based principal on their transaction.

Keelson Advisors, based in Baton Rouge, focuses on Gulf Coast and Midsouth LMM sell-side work with a network reaching into Texas, Mississippi, and Alabama. Evangeline Securities operates from Lafayette and New Orleans and covers LMM corporate finance, M&A, and securities placement, with strong energy corridor exposure. Acadian Capital Advisors in Baton Rouge and Lafayette rounds out the in-state advisor bench with LMM M&A advisory across services and industrial verticals.

What do M&A advisors charge in Louisiana?

Louisiana M&A advisors charge a monthly retainer of $10K to $25K for typically 4 to 8 months and a success fee of 3% to 6% of transaction value at close. Retainers are usually credited against the success fee. Deals below $10M often carry higher percentage success fees, and deals above $50M typically use a Lehman or modified Lehman formula that steps the percentage down as size increases.

The Louisiana pricing curve tracks national LMM norms. Independent LMM investment banks would typically quote a 5% Lehman on the first $1M of value, 4% on the next $1M, 3% on the next $1M, 2% on the next $1M, and 1% on everything above, though most modern engagements use a modified structure that ends up between 3% and 6% blended for a $10M to $30M deal. For context, our 2026 investment bank fees guide shows the full range with worked examples. Non-fee items to negotiate include tail period length (typically 12 to 24 months), minimum success fee floors (typically $250K to $500K), and expense caps.

Advisor tier	Typical deal size (TEV)	Retainer	Success fee	Timeline	Sector fit
Local Louisiana boutique	$3M to $30M	$10K to $25K per month, 4 to 8 months	3% to 6%	7 to 10 months	Founder-led services, marine, oilfield support
Regional investment bank (Gulf South)	$25M to $150M	$25K to $50K per month	2% to 4% plus minimum fee	8 to 12 months	Manufacturing, healthcare rollups, specialty distribution
National middle market IB	$100M to $500M	$50K to $100K per month	1% to 2% plus minimum fee	9 to 14 months	Cross-border, sponsor-to-sponsor, sector platforms
Business broker	Under $2M TEV	None to $5K	8% to 12%	4 to 9 months	Restaurants, single-shop retail, small services

What EBITDA multiples do Louisiana businesses sell for in 2026?

Louisiana LMM businesses in the $10M to $25M TEV band traded at 5.9x to 7.5x TTM EBITDA in 2025 per GF Data Q3 2025. Oilfield services compressed to 3.5x to 5.5x per Axial energy data. Healthcare services platforms in dental, behavioral health, and specialty practice rollups reached 8x to 11x. The state does not carry a location premium or discount versus the national LMM band.

Multiples matter but they are not the whole picture. A Louisiana marine services business at 5.5x with $200K of add-backs the buyer accepts nets more than a 6.5x sale where diligence knocks out $400K of add-backs. The QoE guide covers how buyer-side QoE work would typically reset the negotiated EBITDA. If you are still calibrating expectations, the business appraisal cost guide lays out what a defensible valuation costs and when to buy one.

Louisiana vertical	TTM EBITDA range	Multiple band (2026)	Named source	Buyer pool
Oilfield and energy services	$2M to $15M	3.5x to 5.5x	Axial energy vertical	Cardinal Services (Kotts Capital), strategic acquirers
Marine and shipyard support	$1M to $10M	4.5x to 6.5x	GF Data Q3 2025	Sponsor-backed marine platforms
Behavioral health and psychiatric	$1M to $5M	7x to 10x	Beacon Behavioral Health 2024 acquisition activity	Beacon Behavioral Health, national platforms
Food and beverage distribution	$2M to $10M	6x to 8x	GF Data Q3 2025	Sysco, PFG add-ons, regional platforms
Petrochemical services	$3M to $20M	5x to 7x	Axial industrial services	Sponsor-backed industrial platforms
Hospitality and food service	$1M to $6M	4x to 6x	GF Data Q3 2025	Family offices, regional consolidators
Government contracting	$2M to $10M	5x to 8x	GF Data Q3 2025	GovCon platforms, ESOPs

Which PE platforms are buying Louisiana businesses in 2026?

Active PE-backed acquirers of Louisiana businesses in 2026 include Cardinal Services (Kotts Capital Holdings) in oilfield services, which acquired Quality Energy Services in Broussard covering offshore well intervention, and Beacon Behavioral Health, a PE-backed platform that closed 11 acquisitions in 2024 including 9 psychiatric practices expanding out of Louisiana into Mississippi and Texas. Sysco and PFG remain active on food service add-ons.

Cardinal Services is the visible Louisiana oilfield example. Owned by Kotts Capital Holdings, the platform grew through the Quality Energy Services acquisition in Broussard, absorbing offshore well intervention and production optimization capability. Beacon Behavioral Health has been the most acquisitive Louisiana-anchored healthcare platform. Their 2024 activity, per PrivSource deal tracking, would typically indicate a sponsor willing to underwrite 7x to 10x EBITDA on outpatient psychiatric practices with defensible payor mix.

Beyond in-state platforms, Louisiana LMM sellers would typically see interest from Houston-based energy services roll-ups (Ara Partners, EnCap Flatrock, Grey Rock Investment Partners portfolio companies), Southeast healthcare platforms out of Nashville and Atlanta, and food service consolidators including Sysco and Performance Food Group. Our buy-side M&A advisory page covers the buyer archetypes in more detail if you want to think about who your advisor should be targeting.

How does Louisiana’s tax regime affect your sale proceeds?

Louisiana taxes capital gains as ordinary income at a flat 4.25% individual rate following the state’s late-2024 tax reform. The corporate franchise tax was phased out in 2025. Federal long-term capital gains rates of 20% plus the 3.8% Net Investment Income Tax apply on top, producing an effective blended rate of roughly 24% to 28% for most LMM sellers depending on income level and structure.

The late-2024 Louisiana tax reform simplified the calculation. The individual income tax moved to a flat 4.25%, and the corporate franchise tax was phased out in 2025 per Louisiana Department of Revenue guidance. What still matters is the federal side. A stock sale with long-term capital gains treatment is the seller preference in almost every case because it puts the entire spread into 20% federal capital gains land. Asset sales, especially for LLCs and S-corps, often produce ordinary income recapture on personal goodwill and depreciation, which climbs to 37% federal plus 3.8% NIIT. The negotiated tax gross-up on an asset sale versus stock sale would typically move the closing check by 5% to 10% of enterprise value.

In our experience advising LMM sellers in Louisiana, we find that the highest-value pre-close move is a section 338(h)(10) analysis paired with a Louisiana-specific residency review. Sellers with vacation properties in Florida or Texas would sometimes explore residency changes 18 months before close to escape the 4.25% state layer entirely. It is not for everyone, but on a $30M enterprise value with 60% seller basis, the state tax delta is material enough to justify a conversation with a Louisiana-competent CPA before your engagement letter is signed.

What state-specific legal issues affect M&A in Louisiana?

Louisiana does not have a state-level HSR analog, but healthcare deals over federal thresholds face DOJ scrutiny and hospital transactions can trigger Louisiana Department of Health notice requirements. Coastal use permits under the Louisiana Coastal Resources Program and DOTD approvals often gate marine and dredging transactions, adding 30 to 60 days to closing. Louisiana is a civil law jurisdiction, so contract remedies differ from common law states in ways that matter for indemnities.

Louisiana’s civil law system is the state-specific wrinkle that surprises out-of-state buyers. Contract interpretation, warranty periods, and indemnity enforcement all read differently from Texas or Georgia common law. Sellers would typically be represented by Louisiana counsel with active M&A practice, and the buyer’s national counsel would often bring in Louisiana co-counsel for the final drafting cycle. Coastal use permits under the Louisiana Department of Natural Resources add process time to any transaction touching wetlands, dredging, or coastal waterways. DOTD approvals gate transfers of marine terminal operations, ferry services, and certain trucking contracts.

How long does a sale take with a Louisiana M&A advisor?

A standard Louisiana sell-side engagement would typically run 7 to 11 months from signed engagement letter to funded close. Phase 1 preparation and CIM drafting is 6 to 10 weeks. Buyer outreach and management meetings is 6 to 10 weeks. LOI negotiation is 2 to 4 weeks. Exclusive diligence is 8 to 12 weeks. Marine transactions requiring coastal permits or DOTD sign-off often add 30 to 60 days.

The Louisiana timeline maps onto national LMM norms with two state-specific adjustments. First, oilfield and marine deals frequently require environmental phase 1 studies plus phase 2 if soil or groundwater flags appear, which can extend diligence by 30 to 45 days. Second, the civil law legal system means final documentation takes longer than a Delaware LLC sale, because Louisiana counsel would typically insist on specific language for suspensive conditions, warranty periods, and putative sellers. If your advisor promises 5 months, ask what parts of the process they plan to skip.

What financials will a Louisiana M&A advisor request?

A Louisiana M&A advisor typically requests 3 years of federal and state tax returns, 3 years of GAAP or accrual-basis financial statements, trailing 12-month P&L, current balance sheet, customer concentration analysis, top 10 vendor list, add-back schedule, employee census with compensation, and QuickBooks or ERP file access. Marine and oilfield sellers also submit vessel documentation, permits, and MSA copies with major operators.

Getting the financial house in order is the highest-value pre-engagement work. If you have run the business on tax basis and have never seen an accrual P&L, expect the advisor to spend 4 to 6 weeks with your controller building one. Add-backs that are not documented in real time (owner comp, personal vehicle expense, one-time legal costs, deferred maintenance catch-up) would typically get 30% to 50% haircuts during buyer QoE work. The safest pre-sale investment is 6 to 12 months of clean GAAP financials and a sell-side quality of earnings report from a firm buyers respect.

Which Louisiana law firms and accountants handle sell-side M&A?

The core Louisiana sell-side M&A legal and accounting bench includes Jones Walker LLP (largest in-state firm, offices in New Orleans and Baton Rouge, active M&A and private equity practice), Adams and Reese LLP (New Orleans, Gulf South corporate and M&A representation), and Postlethwaite & Netterville (Baton Rouge, LMM sell-side QoE, transaction tax, and valuation). Fit depends on sector and deal size.

Jones Walker LLP is the largest Louisiana-headquartered law firm and carries the deepest M&A and private equity bench in the state. Their team handles both LMM sell-side transactions and larger sponsor-backed deals, and they carry credibility with out-of-state buyers who want a Louisiana-fluent counsel on the deal. Adams and Reese LLP, based in New Orleans, covers corporate and M&A representation across the Gulf South with strong sector coverage in energy, healthcare, and hospitality. On the accounting side, Postlethwaite & Netterville in Baton Rouge runs a LMM sell-side quality of earnings, transaction tax, and valuation practice that would typically fit sellers who want a Louisiana firm rather than a national accounting shop.

How do you interview an M&A advisor in Louisiana?

Interview a Louisiana M&A advisor on five questions: closed transactions in your sector in the last 24 months, their proprietary buyer database and PE relationships, the specific senior banker who will run your deal, references from three closed sellers, and their fee structure including retainer, success fee, minimum fee, and tail period. Ask for a written engagement letter draft before verbal commitment.

The single most important interview question is which senior banker will be on your deal every week. Boutique firms often bait with the founder and switch to a junior. Ask explicitly. The second most important question is closed deal count in your specific vertical in the last 24 months. An advisor with 4 recent oilfield closes is a different asset than one with 20 healthcare closes and zero in your sector. Ask for the closed transactions list with buyer names redacted if needed. Third, ask what would happen if you walked away in month 4. Tail periods, kill fees, and expense reimbursement all matter here.

What red flags should you avoid when hiring in Louisiana?

Louisiana M&A advisor red flags include success fees below 2% on sub-$20M deals (economics do not work), promises of specific buyers or multiples pre-engagement, tail periods over 24 months, minimum fees below $150K on smaller deals (indicates a broker), no FINRA registration for a securities placement, unwillingness to name the deal team senior, and no closed transactions in the last 12 months in any Louisiana vertical.

Two Louisiana-specific red flags to watch for. First, avoid any advisor who says they can guarantee a specific buyer or a specific multiple before diligence. Nobody can. Second, avoid advisors who cannot explain how coastal use permits, DOTD approvals, or Louisiana civil law contract remedies affect timeline and price on your specific business. If your advisor has never handled a Louisiana marine or oilfield deal and cannot explain the regulatory path in the first meeting, they will learn on your deal.

Which industries are most active for Louisiana M&A in 2026?

The most active Louisiana M&A verticals in 2026 are oilfield services, marine and shipyard support, petrochemical services, behavioral health and psychiatric, food and beverage distribution, hospitality, and government contracting. PrivSource deal tracking shows steady LMM PE-backed acquisition volume across oil and gas services, healthcare, food and beverage, and industrial services.

Oilfield services remains the largest deal volume category by count. Marine and shipyard support runs second, with Lafayette, Houma, and Morgan City as the geographic anchors. Behavioral health has emerged as the fastest-growing category because of Beacon Behavioral Health’s activity. Food and beverage distribution stays active on Sysco and PFG add-ons. Petrochemical services along the Mississippi River corridor produce steady sponsor interest, and government contracting linked to federal energy and defense budgets rounds out the top verticals.

How does the Louisiana buyer pool compare to national?

The Louisiana LMM buyer pool includes in-state PE-backed platforms such as Cardinal Services and Beacon Behavioral Health, Houston-based energy services sponsors, Southeast healthcare consolidators from Nashville and Atlanta, Gulf South family offices, and national strategic acquirers in food service (Sysco, PFG) and industrial distribution. The pool is deeper for oilfield, marine, and healthcare and thinner for consumer and technology.

For most Louisiana LMM sellers the buyer pool is deeper than they think but concentrated in three geographic corridors. Houston contributes the majority of energy services buyers, Dallas contributes food service and industrial, and Nashville plus Atlanta contribute healthcare. Family offices in New Orleans and Baton Rouge play a smaller role but would typically show up for the right family-owned business at the right multiple. If you are running a vertical that is not on the top-7 list above, the buyer targeting work becomes the single most important deliverable your advisor produces.

What deal structures dominate Louisiana LMM in 2026?

Louisiana LMM 2026 deal structures typically feature 70% to 90% cash at close, 5% to 15% seller rollover equity into the buyer platform, 5% to 10% earnout tied to next 12 to 24 months, and increasingly rep and warranty insurance which per Marsh has become standard on transactions over $20M enterprise value. Working capital pegs are the most negotiated single point.

The rollover equity conversation deserves special attention. On PE-backed deals, buyers would typically request 10% to 20% seller rollover into the newco or platform, giving sellers a second bite at the apple when the sponsor exits in 3 to 7 years. For Louisiana sellers who are still active in the business post-close, this rollover often produces more total consideration than the initial closing check. For sellers who plan to fully retire, the rollover conversation should push for higher cash at close and lower rollover percentage.

How should Louisiana sellers prepare in the 12 months before engaging?

In the 12 months before engaging a Louisiana M&A advisor, sellers should clean up GAAP or accrual-basis financials, document add-backs contemporaneously, reduce customer concentration below 25% if possible, resolve pending litigation and tax matters, refresh key management contracts, get real property appraisals for owned facilities, and complete a preliminary Louisiana residency and tax analysis with a competent CPA.

The highest ROI preparation moves are financial cleanup and customer concentration reduction. A single customer representing 40% of revenue would typically compress your multiple by 1x to 2x EBITDA because the buyer models the risk of losing that customer post-close. Twelve months of intentional diversification can move the needle. Second-highest ROI is a real sell-side QoE from a national accounting firm 4 to 6 months before going to market. It resets the negotiated EBITDA baseline before the buyer’s QoE tries to cut it. See our QoE 2026 guide for what to expect.

What vertical-specific advisors should Louisiana sellers consider?

Louisiana sellers in trades, healthcare, and specialty services would typically benefit from vertical-specialist M&A advisors alongside or instead of a generalist. HVAC, plumbing, and mechanical services owners often see 1x to 2x higher multiples from sector-specialist advisors. Healthcare practice sellers, especially dermatology, orthopedic, and behavioral health, would typically outperform with practice-focused advisors who know payor mix and MSO structures.

For LMM sellers whose vertical maps onto a national roll-up thesis, a specialist advisor can meaningfully outperform a Louisiana generalist. HVAC and plumbing owners can reference the HVAC M&A advisor guide and plumbing M&A advisor guide for how vertical specialists structure their buyer targeting. Healthcare practice owners, particularly in orthopedics, should look at the orthopedic practice advisor page. For sellers who want to keep the process fully in-state, a local boutique paired with vertical sector knowledge from a national specialist as co-advisor is a common structure.

What role does rep and warranty insurance play in Louisiana LMM deals?

Rep and warranty insurance (RWI) has become standard on Louisiana LMM transactions over $20M enterprise value per Marsh deal data, with retention of 0.5% to 1% of TEV and premiums of 2.5% to 4% of policy limit. RWI typically shifts indemnity exposure from the seller to the insurer, allowing sellers to walk with a lower escrow, sometimes as low as 0.5% of TEV, compared with 10% to 15% escrows on uninsured deals.

For Louisiana sellers, RWI is worth understanding because it materially changes the net-net closing check. On a $30M enterprise value transaction with a 10% escrow, the seller receives $27M at close with $3M held back for 12 to 24 months. With RWI, the seller might receive $29.85M at close with only $150K held in a 0.5% escrow. That is $2.85M of additional immediate proceeds, offset by roughly $150K in premium. The math favors RWI on almost every deal above $20M TEV. Louisiana marine and oilfield deals often carry environmental exposure that can complicate RWI underwriting, so early engagement with an insurance broker familiar with Gulf South risk is worth the upfront hour.

What happens after you sign a Louisiana engagement letter?

In the first 30 days after signing a Louisiana M&A advisor engagement letter, the advisor typically requests financial packages, conducts management interviews, builds the normalized EBITDA bridge, drafts the confidential information memorandum, screens buyer candidates from PitchBook and Sourcescrub, and prepares the teaser. Weeks 5 through 10 cover CIM finalization, buyer list approval, and initial outreach with non-disclosure agreement (NDA) execution.

The first 30 days set the tempo for the entire process. Sellers who provide clean financial packages, respond to add-back questions within 48 hours, and make themselves available for 3 to 5 hours per week of management interviews typically shave 4 to 6 weeks off total timeline. Sellers who slow-walk information sharing during preparation would typically see their process extend past 12 months and often exhaust buyer patience. The engagement letter should specify what happens if the seller misses information deadlines, and honest advisors will tell you upfront that seller responsiveness is the single biggest driver of outcome.

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

Frequently asked questions

Do I need an M&A advisor in Louisiana or can I use a business broker?

If your business generates more than roughly $1.5M in EBITDA or has meaningful complexity such as multiple locations, oilfield contracts, or marine assets, an M&A advisor with FINRA-registered securities capability would typically outperform a broker. Brokers handle Main Street transactions under $1M in cash flow, while advisors run competitive processes designed for private equity and strategic buyers.

What multiple should I expect for a Louisiana oilfield services business?

Louisiana oilfield services businesses in the $3M to $15M EBITDA band would typically transact at 3.5x to 5.5x TTM EBITDA per Axial energy vertical data, with cyclical exposure and customer concentration compressing multiples. Diversified services with recurring maintenance revenue can reach 6x or higher.

How long does a Louisiana M&A process take from engagement to close?

A standard sell-side engagement in Louisiana would typically run 7 to 11 months from signed engagement letter to funded close. Marine transactions with coastal use permits or DOTD approvals often add 30 to 60 days for regulatory sign-off.

What does an M&A advisor cost in Louisiana?

Success fees on Louisiana LMM engagements typically run 3% to 6% of transaction value on deals between $10M and $50M, with retainers of $25K to $75K credited against the success fee. Larger transactions often use Lehman or double-Lehman formulas.

How is capital gains taxed on a Louisiana business sale?

Louisiana taxes capital gains as ordinary income at a flat 4.25% individual rate following the late-2024 tax reform. Federal long-term capital gains rates apply on top, so effective blended rates would typically land between 24% and 28% depending on income level.

Should I hire a New Orleans, Baton Rouge, or Lafayette M&A advisor?

The city matters less than sector fit. Chaffe & Associates in New Orleans has broad LMM coverage, Keelson Advisors in Baton Rouge focuses on Gulf Coast LMM, and Evangeline Securities in Lafayette and New Orleans covers energy corridor deals. Pick the advisor whose closed transactions match your vertical.

What financials will a Louisiana M&A advisor request in the first week?

Expect a request for 3 years of tax returns, 3 years of financial statements, trailing 12-month P&L, current balance sheet, customer concentration list, and an add-back schedule. Advisors would typically ask for QuickBooks or ERP access to build a normalized EBITDA bridge.