Carleton Advisors

Name

Carleton Advisors

Legal name

Carleton McKenna & Co., LLC

Website

https://carletonmckenna.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Middle Market Investment Banking

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (52394)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Services-Management Consulting Services (8742)

akta.pro primary industry

Corporate Finance Advisory (Strategic Finance, Capital Structure & Recaps) (FSAEAGAE)

akta.pro secondary industries

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Corporate Finance & Capital Advisory (BPAHADAB), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Middle market investment banking
• Sell-side M&A advisory
• Capital advisory services
• ESOP transaction advisory
• Strategic advisory consulting

Headquarters

HQ city

Cleveland

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, Technology or R&D, Infrastructure

Revenue model

1. M&A Advisory Fees: Success-based advisory fees for sell-side M&A representation. Engagement fees typically include a monthly or one-time retainer (often $25,000 to $100,000 total, credited against the success fee at close) plus a success fee at closing, typically expressed as a percentage of transaction value (1% to 5% depending on deal size). Securities placed through Carleton McKenna Advisors, LLC, a FINRA registered broker-dealer and SIPC member firm.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Carleton McKenna & Co is a Cleveland-based middle market investment bank retained exclusively by founders, owners, and operators to sell their businesses. The firm provides exclusive sell-side M&A representation, capital advisory (sourcing and structuring senior debt, subordinated financing, mezzanine, and equity), strategic advisory (benchmarking and value gap identification), and ESOP advisory for construction and engineering owners. Every engagement is custom-built and led by senior bankers from first call through closing table.

Product overview

Carleton McKenna & Co is a Cleveland-based middle market investment bank offering a unified advisory platform with three core service lines: M&A Advisory (exclusive sell-side representation), Capital Advisory (debt and equity structuring), and Strategic Advisory (pre-sale planning and benchmarking). The firm operates specialized sector practices for B2B Services, Construction and Infrastructure, Manufacturing and Industrials, and Consumer sectors, with sub-sector practices for Engineering Firms and Infrastructure. ESOP Advisory is offered as a distinct service particularly suited to construction and engineering owners.

Differentiator

Problem solved

Functional benefit

Products and services

• M&A Advisory

Quantifiable outcome

• 20%+ average price increase from indication of interest to letter of intent since 2020
• +2 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• FINRAcoreOthersSecurities products and services are offered through Carleton McKenna Advisors, LLC, a FINRA registered broker-dealer. FINRA (Financial Industry Regulatory Authority) is the primary regulator for securities firms and brokerage accounts doing business in the United States.
• SIPCcoreOthersSecurities products and services are offered through Carleton McKenna Advisors, LLC, a SIPC member firm. SIPC (Securities Investor Protection Corporation) provides protection for securities customers of member firms in case of firm failure.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Fifth Third Securities: Midwest-anchored investment banking arm of Fifth Third Bank with M&A and capital advisory practices. Comparable as a regional competitor serving similar middle-market clients.
• KeyBanc Capital Markets: Cleveland-headquartered investment bank with strong Midwest M&A and capital markets franchise. Comparable as a regional competitor with overlapping buyer relationships and industry coverage.

Direct peers

• Brown Gibbons Lang & Company: Middle-market investment bank serving M&A and capital advisory needs across industrials, consumer, and business services. Closely comparable in size, sector mix, and deal type to Carleton McKenna.
• Generational Equity: Middle-market M&A advisor specializing in sell-side representation for owner-led businesses. Comparable in target customer profile and engagement economics.
• Lincoln International: Middle-market M&A advisory firm with deep sector coverage and global reach. Comparable due to its focus on sell-side representation for founder/owner-led businesses in the same size band.
• Stout (Stout Roto): Middle-market M&A advisory firm with sector-focused practices. Comparable because it pursues similar sell-side mandates for founder-owned businesses in industrials and business services.
• Mirus Capital: Boutique M&A advisor focused on middle-market sell-side engagements. Comparable due to similar boutique scale, senior banker-led model, and middle-market deal focus.
• Houlihan Lokey: Global middle-market investment bank with strong M&A advisory, capital markets, and valuation practices. Comparable because it competes for the same middle-market sell-side mandates Carleton pursues.

Broad incumbents

• Robert W. Baird & Co. Diversified investment bank with a well-established middle-market M&A practice. Comparable due to overlapping middle-market client base and sector coverage, despite broader service mix.
• Raymond James Investment Banking: Diversified financial services platform with a sizable middle-market M&A advisory practice. Comparable because it competes for similar sell-side mandates, though it operates at significantly larger scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Carleton Advisors