Carter Morse Mathias and Company

What Carter Morse Mathias and Company does

Carter Morse & Goodrich (CMG) is a privately held boutique M&A advisory firm founded in 1987 that specializes in representing founder-led and family-held businesses valued between $25 million and $250 million. The firm is headquartered in Southport, Connecticut, and operates additional offices in Providence, Rhode Island and Garden City, New York (opened in June 2026). CMG delivers a unified suite of investment banking services centered on four core offerings: sell-side M&A advisory, pre-transaction strategic options and valuation work, capital raises (equity, mezzanine, and senior debt), and acquisition advisory for buyers. Securities execution is conducted through an affiliated entity, Carter Capital Corporation (member FINRA and SIPC).

The firm's competitive positioning rests on a senior-banker-led engagement model in which named partners and managing directors, supported by eleven sector-specialized Senior Advisors, lead transactions end-to-end. CMG organizes its practice around five formal industry groups: Manufacturing & Industrial, Consumer Products, Food & Beverage, HVAC, and Specialized Services. Cross-border reach is delivered through the firm's founding membership in the Alliance of International Corporate Advisors (AICA), a 38-firm, 31-country network. Notably, the firm has no proprietary technology platform and no disclosed AI capabilities; the business model is human-capital-intensive.

Revenue is generated entirely through professional services fees tied to individual M&A and capital-raising engagements, with pricing structured as custom, quote-based mandates rather than published tiers. The customer base spans middle-market private business owners across the United States, with a long-tail concentration in the Northeast and selective international mandates via AICA partners. CMG is led by Managing Partners Michael Carter and Ramsey Goodrich, operates with approximately two-dozen named professionals across three offices, and runs the CMG Foundation (established 2021) as a philanthropic complement to its advisory practice.

Name

Carter Morse Mathias and Company

Legal name

Carter Morse & Goodrich, Inc.

Website

https://cartermorse.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

1–10 employees

Short description

Carter Morse & Goodrich is a boutique M&A advisory firm founded in 1987 that represents founder-led and family-held businesses valued between $25 million and $250 million, delivering sell-side, buy-side, and capital-raising advisory across Manufacturing, Consumer, Food & Beverage, HVAC, and Specialized Services sectors from offices in Southport, Providence, and Garden City.

Ownership category

akta.pro rank

Product category

Investment Banking & M&A Advisory

NAICS

Investment Banking and Securities Intermediation (523150)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

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

akta.pro secondary industries

Buy-Side M&A Advisory (FSAEAGAB), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Middle market M&A advisory
• Sell-side advisory services
• Investment banking advisory
• Capital raises advisory
• Family business succession

Headquarters

HQ city

Southport

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Infrastructure, Others

Revenue model

1. Sell-Side M&A Advisory: Advisory fees for representing founders and families in selling their businesses, typically in the $25 million to $250 million valuation range. Services include independent client-focused advice throughout a disciplined sale process.
2. Buy-Side and Capital Raise Services: Fees for assisting owners considering acquisitions or capital raises. Includes identifying cost-effective capital sources and financial instruments.
3. Securities Services: Securities are offered through Carter Capital Corporation, member FINRA and SIPC.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels6 records

Core offering

Carter Morse & Goodrich (CMG) provides boutique investment banking advisory services, with its core offering being sell-side M&A representation for founder-led and family-held businesses valued between $25 million and $250 million. The firm delivers a disciplined, senior banker-led sale process as an extension of each client's advisory team, alongside complementary services including pre-transaction advisory, capital raises (equity, mezzanine, and senior debt), and buy-side acquisition services. Securities offerings are facilitated through affiliated Carter Capital Corporation (member FINRA/SIPC).

Product overview

Carter Morse & Goodrich (CMG) is a boutique M&A advisory firm offering a unified suite of investment banking services centered on sell-side M&A advisory, pre-transaction advisory, capital raises, and acquisition services. The firm specializes in representing founder-led and family-held businesses valued between $25 million and $250 million. CMG's service portfolio also includes a charitable initiative through the CMG Foundation. The firm leverages nearly four decades of investment banking experience across hundreds of successful transactions, with deep industry expertise in manufacturing, consumer products, food & beverage, HVAC, and specialized services sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Sell-Side M&A Advisory Boutique M&A advisory representation for owners of privately held middle-market businesses pursuing a sale, providing independent, client-focused advice throughout a highly disciplined sale process to maximize value and create owner legacies.
• Pre-Transaction Advisory Strategic options review, market valuation analysis, and transaction preparation services to maximize shareholder value before a transaction occurs.
• Capital Raises Equity, mezzanine, and senior debt capital raising services including recapitalizations, growth capital, and connections to institutional investors.
• Acquisition Services (Buy-side) Negotiation strategy, valuation, structure, and acquisition financing advisory for buyers seeking to acquire businesses.
• Securities Services (via Carter Capital Corporation) Securities offerings facilitated through affiliated Carter Capital Corporation, member FINRA and SIPC, complementary to the firm's M&A advisory offerings.

Quantifiable outcome

• Hundreds of successful client outcomes
• +2 more outcomes

Named customers10 records

Segments8 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and key.

• Alliance of International Corporate Advisors (AICA)coreStrategic or Co-development PartnerCarter Morse & Goodrich is a founding member of AICA, an integrated global network of middle-market advisory and finance firms. The alliance comprises 38 member firms in 31 countries with 58 offices and over 568 professionals. AICA provides the crucial resources to successfully complete transactions including identifying target companies, assisting with due diligence, and sourcing local legal and accounting advisors.
• ACG (Association for Corporate Growth)keyGTM or Marketing PartnerActive participant in ACG Connecticut chapter events including annual Golf & Tennis Outing. Professional organization for M&A professionals and dealmakers.
• Exit Planning Exchange (XPX)keyGTM or Marketing PartnerActive participation in XPX Tri-State Summit. Organization focused on exit planning for business owners.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Generational Group: Generational Group is a boutique M&A advisory firm focused exclusively on selling owner/founder-led middle-market businesses. Competes head-to-head with CMG in the same deal-size band and similar client demographics, though with a much larger advisor network.
• Cascadia Capital: Cascadia Capital is a boutique investment bank advising founder-led and family-held middle-market companies on sell-side M&A, recapitalizations, and capital raises across consumer, industrial, and food & beverage — an almost identical vertical and deal-size profile to CMG. Direct head-to-head competitor for founder/family mandates.
• Woodbridge International: Woodbridge International is a boutique M&A advisory firm focused on selling mid-sized, privately held businesses — closely matching CMG's founder/family target segment, fee model, and deal-size band. Often competes for the same mandates.
• Lincoln International: Lincoln International is a global middle-market M&A advisory firm specializing in representing founder-led and family-controlled businesses across consumer, industrial, and business-services sectors. Highly comparable in client profile (founder/family sellers) and engagement style, but with significantly larger analyst bench and global footprint than CMG.
• Harris Williams: Harris Williams is a middle-market M&A advisor (owned by PNC) that focuses on sell-side advisory for founder-led, family-held, and sponsor-backed companies. Overlaps directly with CMG's $25M-$250M founder/family segment across consumer, industrial, and services verticals, making it the closest mid-market direct competitor.
• Hyde Park Capital Advisors: Hyde Park Capital Advisors is a middle-market investment bank providing M&A and capital-raising services to founder-led and family-owned businesses. Directly comparable in deal size, client type, and boutique positioning to CMG.
• Capstone Partners: Capstone Partners is a middle-market investment banking firm providing M&A advisory, capital raising, and financial advisory services to founder-led and family-held businesses across manufacturing, consumer, and business services. Directly comparable target-client profile and service line to CMG.
• Stout: Stout is a middle-market advisory firm offering M&A advisory, valuation, and transaction-related consulting across consumer, industrial, and services sectors. Overlaps with CMG on sell-side advisory mandates in the same deal-size range.

Broad incumbents

• Robert W. Baird: Robert W. Baird's Global Investment Banking group is a much larger, full-service middle-market advisor that competes for many of the same founder/family sell-side mandates CMG pursues, while also offering equity research, asset management, and wealth advisory far beyond CMG's M&A-only scope.
• Houlihan Lokey: Houlihan Lokey is a global, full-service investment bank with a strong middle-market M&A franchise that targets founder-led and sponsor-backed companies in similar deal-size and sector profiles to CMG. Much broader product set (M&A, capital markets, restructuring, valuation) gives it incumbency advantages on larger mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/518067
• Facebookfacebook.com/209767372381572

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 records

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 Carter Morse Mathias and Company