ICG Capital Partners

What ICG Capital Partners does

ICG Capital Securities, LLC (operating as ICG Capital Partners / ICG Capital) is a privately-held boutique investment bank and M&A advisory firm headquartered at 909 East Blvd, Charlotte, North Carolina. Founded in 2001 by Managing Director Scott C. Upton, the firm provides senior-led M&A and corporate finance advisory services to privately-held middle market companies, growth-oriented public companies, private equity groups, and management teams, primarily across the Southeast United States, with transaction sizes ranging from $4 million to $150 million and stated completion of 156 transactions since inception at a 95% closing ratio.

The firm's product set is unified around four service lines: Seller Representation (divestiture advisory including valuation, offering memoranda, buyer identification, and negotiation), Buyer Representation (acquisition advisory including target identification, due diligence, and acquisition financing), Private Financing Capabilities (capital raises of $3 million to $50 million), and Strategic Advisory Services (valuations, alternatives evaluation, buy-vs-sell analysis). Underlying these services is a curated network of more than 300 financing sources spanning senior debt providers, mezzanine funds, private equity (both control and non-control), and strategic investors, which provides buyer coverage and capital-stack flexibility. The execution model is explicitly senior-banker led at every step, with no proprietary technology platform; the firm's core assets are the MD's personal track record (over $2 billion and 127 transactions executed on the ICG platform), referral relationships with accounting firms, attorneys, and prior clients, and industry specialization in Healthcare, Industrials, Business Services, Consumer, Manufacturing, and Technology.

The business model is transaction-fee based: revenue is generated through M&A advisory success fees (typically structured as retainers plus a percentage of transaction value, scaled per the Lehman-style fee grid common to middle-market advisory), supplemented by placement/financing fees on private capital raises. Pricing is not publicly disclosed and is tailored per mandate. Distribution is purely direct — no external channel, no digital self-serve — with business sourced via senior-professional outreach, accountant and attorney referrals, prior-client introductions, and the firm website (icgcap.com). The firm operates as a single-office LLC with 1-10 employees, no parent company, no external funding, and no disclosed ownership beyond the Managing Director, making it a classic lifestyle-oriented boutique investment bank.

Name

ICG Capital Partners

Legal name

ICG Capital Securities, LLC

Website

https://icgcap.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

1–10 employees

Short description

ICG Capital Partners is a Charlotte, NC-based boutique investment bank founded in 2001 that advises privately-held middle market companies on mergers and acquisitions, acquisitions, private financing ($3M-$50M), and strategic alternatives, with transaction sizes ranging from $4M to $150M.

Ownership category

akta.pro rank

Product category

Investment Banking & M&A Advisory

NAICS

Investment Banking and Securities Intermediation (523150)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)

akta.pro secondary industries

Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL), Corporate Finance & Capital Advisory (BPAHADAB)

Keywords

• Investment banking
• M&A advisory
• Middle market transactions
• Corporate finance advisory
• Private placement financing

Headquarters

HQ city

Charlotte

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. M&A Advisory Fees: ICG Capital generates revenue through advisory fees for merger and acquisition services including seller representation, buyer representation, strategic advisory, and private financing capabilities. Fees are likely structured as success fees (percentage of transaction value) combined with retainer fees, which is standard for middle-market investment banking.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

ICG Capital Securities is a boutique investment bank providing M&A and corporate finance advisory services to privately held and middle market companies primarily in the Southeast United States. Its core offerings include seller representation, buyer representation, private financing capabilities (capital raising from $3M to $50M), and strategic advisory services, with transactions typically ranging from $4 million to $150 million in value. The firm leverages relationships with more than 300 financing sources to support buy-side, sell-side, and recapitalization mandates.

Product overview

ICG Capital Securities operates as a financial advisory firm offering a unified suite of M&A and corporate finance services. The core service portfolio includes four interconnected offerings: Seller Representation (divestiture advisory), Buyer Representation (acquisition advisory), Private Financing Capabilities (capital raising from $3M to $50M), and Strategic Advisory Services (strategic decision support). Full Service Financial Advisory represents the integrated umbrella service combining these capabilities. The firm specializes in middle market transactions ranging from $4 million to $150 million, with established relationships spanning over 300 financing sources.

Differentiator

Problem solved

Functional benefit

Products and services

• Seller Representation Advisory and representation services for companies and owners seeking to divest their interests, including due diligence, strategic planning, valuation, offering memorandum preparation, buyer identification, and negotiation assistance through closing.
• Buyer Representation Advisory services for companies seeking to expand through acquisitions, including target identification, due diligence, acquisition financing arrangement, and transaction structuring through closing.
• Private Financing Capabilities Capital raising services for growth, acquisitions, or recapitalization, typically ranging from $3 million to $50 million, leveraging relationships with over 300 financing sources including senior debt, subordinated debt, and equity providers.
• Strategic Advisory Services Management and shareholder advisory services focused on strategic decision-making, including company valuations, strategic alternatives evaluation, buy vs. sell analysis, and transaction timing recommendations.
• Full Service Financial Advisory Comprehensive advisory covering seller representation, buyer representation, acquisition financing, leveraged buyouts, management buyouts, financial restructuring defense consulting, and strategic alternatives evaluation, serving as the integrated umbrella service across ICG Capital's middle market practice.

Quantifiable outcome

• 156 transactions closed since 2001 with 95% closing success ratio
• +3 more outcomes

Named customers18 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Generational Group: Generational Group is a US-focused middle-market M&A advisory firm serving privately-held businesses in the $1M-$100M value range. It is directly comparable to ICG because both target privately-held middle-market owners on sell-side mandates with a regional office model and a senior-banker-led execution approach.
• Cornerstone Capital Partners / Cornerstone Business Advisors: Cornerstone is a regional boutique M&A advisory firm serving privately-held mid-market companies. It is comparable to ICG because both compete for the same privately-held owner-led mandates in the lower- and lower-middle market with a relationship-led, senior-banker model.
• Hyde Park Capital Advisors: Hyde Park Capital Advisors is a boutique middle-market investment bank based in the Southeast US. It directly competes with ICG for healthcare, industrial, and consumer mid-market mandates in Charlotte, Atlanta, and the broader Southeast corridor.
• Capital Alliance Corporation: Capital Alliance is a middle-market M&A advisory firm focused on privately-held companies, frequently in the $25M-$250M range. It is a peer to ICG because both deliver sell-side advisory through senior relationship bankers, source capital from similar PE and sub-debt networks, and serve founder-owned businesses.
• Park Lane (Park Lane Partners): Park Lane is a middle-market M&A advisory firm focused on privately-held companies, typically in the $5M-$100M range. It overlaps closely with ICG on founder-led sell-side mandates, healthcare and industrial verticals, and the senior-banker-led service model.
• Sunbelt Business Brokers / M&A Advisors: Sunbelt is one of the largest networks of business brokers and lower-middle-market M&A advisors in the US. It competes with ICG for sell-side mandates at the lower end of the market (sub-$25M), particularly with owner-operators exploring exits.

Broad incumbents

• Houlihan Lokey: Houlihan Lokey is a large global investment bank with deep middle-market M&A advisory. It competes with ICG for mandates in the upper end of ICG's stated $4M-$150M range, particularly on sponsor-led and corporate divestitures. While much broader, the M&A product overlap makes it the most relevant incumbent reference point.
• Lincoln International: Lincoln International is a global mid-market investment bank focused on M&A advisory and capital raising. It overlaps with ICG in mid-market sell-side, buy-side, and private placement mandates, especially in the industrials and healthcare sectors where ICG has notable track record.
• William Blair: William Blair is a global investment bank with a robust middle-market M&A practice. It overlaps with ICG in healthcare and industrial M&A advisory, particularly when sponsor-backed or growth-stage companies require a banker's balance-sheet reach ICG cannot match.
• Robert W. Baird: Robert W. Baird is a large diversified financial services firm with a substantial middle-market M&A practice. It competes with ICG on healthcare, industrial, and consumer mid-market sell-side mandates and represents a typical institutional alternative for clients considering boutique advisors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ICG Capital Partners