MidCap Advisors
MidCap Advisors is a privately held, New York–based boutique investment bank advising U.S. lower middle-market business owners on sell-side M&A, with deep vertical specialization in insurance, healthcare, retirement/wealth, industrials, and education sectors.
- Company typePrivate
- Founded1989
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What MidCap Advisors does
MidCap Advisors is a privately held, New York–based boutique investment banking firm founded in 1989, focused exclusively on M&A advisory and direct investing in the U.S. lower middle market (typically transactions between $10 million and $100 million in enterprise value). The firm operates three interconnected service lines: Sell-Side Advisory (exclusive financial advisor to business owners during sales and ownership transitions), Diligence & Consulting (financial due diligence and buy-side advisory through the affiliated MidCap Consulting entity), and Direct Investing (balance-sheet co-investment through MidCap Equity Partners alongside advisory clients). Services are delivered by a senior team composed largely of former operators and industry specialists, with no proprietary technology platform — the firm's value proposition is rooted in industry expertise, judgment, and the ability to integrate quantitative and qualitative factors across an engagement.
The firm's industry coverage is concentrated in five verticals: Insurance (its longest-tenured specialty, with 20+ years of focused practice), Healthcare (with a current emphasis on fertility and women's health), Retirement Plan & Wealth Advisors, Industrials & Services, and Education. Over its history, MidCap has executed 400+ transactions representing more than $10 billion in cumulative closed transaction value, including sale-side mandates for Hub International, CAPTRUST, OneDigital, SterlingRisk, ALKEME, and IVI RMA North America on the buy side. Distribution is wholly relationship-based: direct outreach by senior partners, content publishing through Dealade.com, active LinkedIn presence, press releases, and conference participation. Pricing is not publicly disclosed; engagements are structured around success fees based on transaction value, with initial consultations provided at no cost. The firm employs 11–50 professionals across its New York headquarters (675 Third Avenue) and a secondary Westport, Connecticut office. Ownership is concentrated with co-founding partners Douglas T. Hendrickson and John D. Poppe Jr. plus partner Frank J. Robertson; no institutional capital, parent company, or external funding was identified.
MidCap Advisors firmographics
Firmographics- Name
- MidCap Advisors
- Legal name
- MidCap Advisors, LLC
- Website
- https://midcapadvisors.com
- Company type
- Private
- Founded year
- 1989
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MidCap Advisors is a privately held, New York–based boutique investment bank advising U.S. lower middle-market business owners on sell-side M&A, with deep vertical specialization in insurance, healthcare, retirement/wealth, industrials, and education sectors.
- Ownership category
- akta.pro rank
MidCap Advisors industry classification
Industry- Product category
- Investment Banking & M&A Advisory
- NAICS
- Management Consulting Services (54161), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Services-Management Consulting Services (8742), Investment Advice (6282)
- akta.pro primary industry
- M&A Advisory (Buy-Side & Sell-Side) (BPAHAOAA)
- akta.pro secondary industries
- Buy-Side M&A Advisory (FSAEAGAB), Corporate Finance & Capital Advisory (BPAHADAB)
Keywords
Where MidCap Advisors is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
MidCap Advisors business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Sell-Side Advisory: MidCap Advisors serves as exclusive financial advisor to business owners selling their companies. The firm earns success fees based on transaction value, typically a percentage of the total deal value closed. This represents the primary revenue stream for the firm.
- Diligence & Consulting: The firm provides due diligence and consulting services to buyers and sellers, generating fees for financial analysis, quality-of-earnings reviews, and transaction support services.
- Direct Investing: MidCap Advisors and its affiliates invest their own capital in portfolio companies, generating returns through equity ownership in acquired businesses.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
MidCap Advisors product offering
Product offeringCore offering
MidCap Advisors is a boutique investment banking firm providing M&A advisory services to lower middle-market businesses and their owners. The firm operates three interconnected service lines: Sell-Side Advisory (guiding owners through the sale of their companies), Diligence & Consulting (providing financial due diligence and buy-side advisory), and Direct Investing (deploying the firm's own capital alongside clients). The firm focuses on industries including insurance, healthcare, retirement and wealth advisory, industrials and services, and education.
Product overview
MidCap Advisors is a boutique investment banking firm offering a unified suite of M&A advisory services to lower middle-market businesses and their owners. The firm operates three interconnected service lines: Sell-Side Advisory (guiding business owners through the sale process), Diligence & Consulting (supporting buyers through transaction evaluation), and Direct Investing (deploying the firm's own capital). These services are complemented by deep industry expertise across Insurance, Healthcare, Retirement & Wealth, Industrials & Services, and Education sectors. The firm does not offer a software platform but provides professional advisory services focused on strategic transactions, with a particular emphasis on healthcare consolidation (including fertility and women's health practices) and insurance sector M&A.
Differentiator
Problem solved
Functional benefit
Brands
- MidCap Consulting: Provides financial due diligence and buy-side advisory services exclusively to the insurance industry.
- MidCap Equity Partners
Products and services
- Sell-Side Advisory Advisory services for business owners navigating the sale of their company, including transaction structuring, buyer identification, valuation, negotiation, and deal execution through closing. Provided to lower middle-market business owners in insurance, healthcare, retirement and wealth advisory, industrials, and education sectors.
- Diligence & Consulting Due diligence and consulting support for buyers evaluating acquisition targets, including financial analysis, operational assessment, quality-of-earnings reviews, and risk evaluation. Provided to buyers, PE-backed serial acquirers, and strategic consolidators, with deep specialization in the insurance sector.
- Direct Investing Direct capital investment capability via MidCap Equity Partners, allowing the firm to participate directly in transactions alongside advisory clients and acquire portfolio companies in healthcare and related industries. Generates returns through equity ownership in acquired businesses.
Quantifiable outcome
- Practices represented by M&A advisors achieve approximately 25% higher transaction multiples from buyers compared to unrepresented sellers.
- +1 more outcomes
Companies that use MidCap Advisors
Customer profileNamed customers9 records
Segments6 records
Ideal customer profiles2 records
MidCap Advisors technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
MidCap Advisors partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor and core.
- Inside Reproductive HealthminorMidCap Advisors sponsored the 2024 U.S. Fertility Practice Ownership List compiled by Inside Reproductive Health, documenting ownership structures of 467 fertility practices and market consolidation trends. This research partnership provides market intelligence and positions MidCap as a thought leader in the fertility sector.
- MidCap ConsultingcoreMidCap Consulting is a leading diligence provider to the insurance industry sector, founded as a separate entity by Frank Robertson. The firm provides financial due diligence and buy-side advisory services exclusively to the insurance industry, having advised on more than $300 million of M&A for private equity-backed serial acquirers.
- Hendrickson & CompanyminorAn insurance agency owned by MidCap Equity Partners where Douglas Hendrickson serves as President, representing a complementary insurance business operation alongside M&A advisory services.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
MidCap Advisors competitors and assessment
Company assessmentDirect peers
- Cornerstone Capital Group: Direct peer: boutique middle market M&A and capital advisory firm serving closely held businesses across multiple verticals, comparable in size and positioning to MidCap Advisors.
- Caber Hill Advisors: Direct peer: lower middle market M&A advisor serving privately held businesses with a similar boutique, owner-operator focus and transaction-volume profile.
- Woodbridge International: Direct peer: middle market M&A advisory firm offering sell-side representation to closely held businesses in a similar deal-size band, with comparable boutique model and relationship-driven origination.
- Marsh Berry (Marsh McLennan Agency Advisory Solutions): Direct peer: leading insurance industry M&A and consulting firm providing sell-side advisory to insurance agencies — directly competing with MidCap in its strongest vertical.
- Generational Group: Direct peer: one of the largest US lower middle market M&A advisory firms with a similar transaction-fee model, multi-office footprint, and focus on businesses valued $10M–$250M. Highly comparable target market and service offering.
- Sica | Altus Capital: Direct peer: boutique lower middle market advisor with sector specialization (financial services, insurance, business services), closely overlapping with MidCap's vertical focus and engagement model.
- Transworld M&A Advisors: Direct peer: lower middle market M&A advisory network with comparable transaction value band, founder-led culture, and emphasis on owner-operated business transitions — competing for similar mandates.
- Benchmark International: Direct peer: boutique lower middle market M&A advisor with global reach, similar transaction-volume profile, and closely overlapping client base of owner-operators seeking strategic sales.
Broad incumbents
- Harris Williams: Broad incumbent: larger, multi-sector middle market M&A advisor with significantly more resources and sector coverage. Competes with MidCap for larger lower middle market mandates where scale matters.
- Houlihan Lokey: Broad incumbent: global investment bank with a substantial middle market M&A franchise. Represents the larger, well-capitalized competitors pushing down-market that MidCap must contend with on bigger mandates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
MidCap Advisors social profiles
Digital presenceMidCap Advisors financial estimates
Financial estimateRevenue estimate
Valuation estimate
MidCap Advisors leadership team
Management profileNumber of profiles
Profiles13 records
MidCap Advisors subsidiaries and ownership
Company hierarchySubsidiaries2 records
MidCap Advisors funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MidCap Advisors M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MidCap Advisors
What does MidCap Advisors do?
MidCap Advisors is a boutique investment banking firm providing M&A advisory services to lower middle-market businesses and their owners. The firm operates three interconnected service lines: Sell-Side Advisory (guiding owners through the sale of their companies), Diligence & Consulting (providing financial due diligence and buy-side advisory), and Direct Investing (deploying the firm's own capital alongside clients). The firm focuses on industries including insurance, healthcare, retirement and wealth advisory, industrials and services, and education.
Is MidCap Advisors a public or private company?
MidCap Advisors is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was MidCap Advisors founded?
MidCap Advisors was founded in 1989. It employs 11 to 50 people.
Where is MidCap Advisors based?
MidCap Advisors is headquartered in New York, United States, in the North America region.
How does MidCap Advisors make money?
Three revenue lines are on record. Sell-Side Advisory is the primary driver. The others are diligence & Consulting and direct Investing.
Who are MidCap Advisors's main competitors?
Direct peers on record are Cornerstone Capital Group, Caber Hill Advisors, Woodbridge International, Marsh Berry (Marsh McLennan Agency Advisory Solutions), Generational Group, Sica | Altus Capital, Transworld M&A Advisors and Benchmark International. Broad incumbents are Harris Williams and Houlihan Lokey.
Does MidCap Advisors have an API?
No public API is recorded for MidCap Advisors.
What industry is MidCap Advisors in?
MidCap Advisors's product category is Investment Banking & M&A Advisory. Its primary akta.pro industry code is BPAHAOAA, M&A Advisory (Buy-Side & Sell-Side), with a secondary code of FSAEAGAB, Buy-Side M&A Advisory. Its NAICS code is 54161 and its SIC code is 8742.