Cleary Gull Inc.

What Cleary Gull Inc. does

Cleary Gull Inc., founded in 1987 in Milwaukee and now operating as CIBC US Middle Market Investment Banking, is a middle-market investment banking firm that advises private companies, private equity funds, and corporations on mergers and acquisitions, private debt capital raises, private equity capital raises, and related strategic transactions. The firm is a division of CIBC Capital Markets under Canadian Imperial Bank of Commerce (TSX/NYSE: CM), which provides it with cross-border reach into key financial centers while it maintains a middle-market focus. Its practice is organized around five industry verticals — Industrials, Business Services, Consumer, Software & Technology, and Health Care — and is staffed by 51-100 employees, primarily seasoned senior bankers with deep vertical relationships. Over the past five years the firm has completed more than 200 middle-market transactions representing in excess of $20 billion in aggregate transaction value.

The firm's revenue model is transaction-fee-based, with advisory fees earned upon successful completion of M&A mandates or capital raises and negotiated on a per-deal basis. Pricing is not publicly disclosed and varies with deal complexity, size, and scope. Distribution is entirely relationship-driven: engagements are sourced through direct senior banker outreach, referrals from existing clients and counterparties, and industry network participation, with the firm's website (cibcusmmib.com) serving primarily as a credibility and case-study asset rather than a transactional channel. Recent disclosed transactions span diverse end-markets including ice cream manufacturing, specialty trailers, landscape supply, tile manufacturing, industrial coatings, and HVAC heating equipment, indicating a deliberately diversified deal pipeline rather than concentration in any single sub-sector.

The firm's underlying technology stack is not disclosed, and there are no indications of proprietary platforms, data products, or AI/ML capabilities. Its competitive advantage is grounded in banker talent, vertical specialization, and the structural distribution benefits of CIBC affiliation rather than in technology or scale. As a non-reporting segment within a publicly traded parent bank, Cleary Gull's standalone financials are not publicly disclosed, and the firm has no independent funding events, M&A history, or leadership changes recorded in the input data beyond its founder Michael J. Cleary.

Name

Cleary Gull Inc.

Legal name

CIBC US Middle Market Investment Banking

Website

https://clearygull.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

51–100 employees

Short description

Cleary Gull Inc., operating as CIBC US Middle Market Investment Banking, is a middle-market investment banking firm advising private companies, PE funds, and corporations on M&A, private debt, and equity capital raises across five industry verticals.

Ownership category

akta.pro rank

Product category

Middle Market Investment Banking

NAICS

Investment Banking and Securities Intermediation (52315)

SIC

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

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industries

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

Keywords

• Mergers and acquisitions advisory
• Middle market investment banking
• Private debt capital raises
• Private equity capital raises
• Corporate transaction advisory

Headquarters

HQ city

Milwaukee

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

Revenue model

1. Advisory Fees: Earned through advising on M&A transactions, private debt and equity capital raises. Revenue is transaction-based, earned upon successful completion of deals.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Middle-market investment banking firm that advises private companies, private equity funds, and corporations on mergers & acquisitions, private debt and equity capital raises, and other transactions. The firm focuses on five industry verticals — Industrials, Business Services, Consumer, Software & Technology, and Health Care — and has completed more than 200 middle-market transactions in the last five years representing more than $20 billion in transaction value.

Product overview

CIBC US Middle Market Investment Banking is a middle-market investment banking firm that operates as part of CIBC Capital Markets. The firm provides advisory services across three core product lines: Mergers & Acquisitions Advisory, Private Debt Capital Raises, and Private Equity Capital Raises. These services are organized around five industry verticals: Industrials, Business Services, Consumer, Software & Technology, and Health Care. The firm has completed more than 200 middle-market transactions in the last five years representing more than $20 billion in transaction value.

Differentiator

Problem solved

Functional benefit

Products and services

• Mergers & Acquisitions Advisory Advisory services for private companies, private equity funds, and corporations on M&A transactions, including sell-side, buy-side, and strategic alternatives.
• Private Debt Capital Raises Debt capital raising services for middle-market companies, leveraging CIBC Capital Markets' capital markets expertise and relationships.
• Private Equity Capital Raises Equity capital raising services for middle-market companies, providing access to financial sponsors, strategic investors, and institutional capital.
• Industrials Advisory M&A advisory focused on industrial products and services businesses, delivered by bankers with decades of experience in the industrial sector.
• Business Services Advisory Advisory services for niche service providers in diverse segments of the economy, articulating the value of being a trusted outsourced partner.
• Consumer Advisory Advisory services for consumer markets, including articulation of brand value to strategic and financial buyers focused on the consumer space.
• Software & Technology Advisory Advisory services for software and broader technology sector companies across various business models, representing a growing part of the firm's practice.
• Health Care Advisory Advisory services for healthcare services, products, and information technology companies, leveraging deep understanding of the complexities healthcare companies face and how they drive buyer interest and valuation.

Quantifiable outcome

• More than 200 Middle Market transactions in the last five years
• +1 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• CIBC Capital MarketsparentOthersCIBC US Middle Market Investment Banking is a division of CIBC Capital Markets. The firm operates as part of Canadian Imperial Bank of Commerce's US operations, leveraging CIBC's global presence and capital markets capabilities while maintaining middle-market focus.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• BMO Capital Markets: Canadian bank's capital markets division offering M&A advisory and capital raising for middle-market and large-cap clients — a comparable bank-owned advisory platform with a Canadian parent (analogous to CIBC's backing of Cleary Gull).
• RBC Capital Markets: Capital markets arm of Royal Bank of Canada with a US middle-market M&A advisory practice — a comparable bank-owned advisory platform operating in the US, similar to CIBC's backing of Cleary Gull.

Direct peers

• Piper Sandler: Middle-market investment bank with strong M&A advisory and capital markets practices serving private companies, PE funds, and corporates across multiple sectors — a directly comparable platform.
• KeyBanc Capital Markets: Middle-market investment banking arm of KeyCorp with a strong M&A advisory practice focused on US private companies and PE funds, particularly in the Midwest — a comparable middle-market platform.
• Stifel Financial Corp. Diversified middle-market investment bank with a substantial M&A advisory and capital markets practice serving private companies and PE funds — a comparable middle-market M&A franchise.
• Lincoln International: Global mid-market investment bank focused on M&A advisory and capital raising, with strong sector specialization across industrials, consumer, healthcare, and technology — directly comparable business model and vertical focus.
• Houlihan Lokey: Leading independent middle-market investment bank with deep M&A, capital markets, and financial restructuring practices serving private companies, PE funds, and corporates — a comparable scale and product set.
• Robert W. Baird & Co. Milwaukee-based, employee-owned middle-market investment bank and wealth manager with a strong M&A and capital markets practice serving private companies, PE funds, and corporates — a direct competitor to Cleary Gull in the US Midwest middle market.
• Harris Williams: Middle-market M&A advisor with deep sector specialization across consumer, healthcare, industrials, and technology — directly comparable middle-market M&A model and vertical structure.
• William Blair: Chicago-based middle-market investment bank with a strong M&A advisory and capital markets franchise serving private companies and PE sponsors — a comparable middle-market platform with multi-vertical coverage.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/856165

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 Cleary Gull Inc.