True North M&A Ranks in Axial’s Top 25 Investment Banks of 2023

True North Mergers & Acquisitions Ranks in Axial's Top 25 Lower Middle Market Investment Banks of 2023

MINNEAPOLIS, MN February 5, 2024 – True North Mergers & Acquisitions (TNMA) is pleased to announce its inclusion in Axial’s Top 25 List of Lower Middle Market Investment Banks of 2023.

To assemble the list, Axial reviewed the 2023 deal-making activities of 807 investment banks and advisory firms and nearly 10,000 deals. True North Mergers & Acquisitions stands out among the top 15 organizations that ranked in 2023.

“Securing a top 15 ranking on Axial’s annual list is incredibly validating,” said True North Chief Operating Officer, Managing Director Erica Gilson. “It’s also a testament to our team’s ability to remain agile in highly competitive environments and uncertain economies. We look forward to building on this achievement in 2024.”

Unlike traditional league table structures, Axial’s evaluation process considers a broader range of criteria beyond deal activity and deal dollar volume. This approach offers a more nuanced and holistic view, taking into account:

• Client quality (based on pursuits per deal and total recommended buyers)
• Buyside targeting (pursuit rate per deal)
• M&A process effectiveness (ability to progress buyers from initial pursuit to NDA to CIM)
• Deal outcome (IOI, LOI, and closure rates)

True North Mergers & Acquisitions' top 15 ranking confirms the organization’s ability to not only negotiate the sell-side process and close deals but also outperform its peers in a highly competitive landscape. For a more detailed breakdown of the lower middle market deal activity in 2023, visit Axial.net.

ABOUT TRUE NORTH MERGERS & ACQUISITIONS

True North Mergers & Acquisitions, formerly the lower middle market M&A practice within Sunbelt Business Advisors, is a practice focused on providing mergers and acquisitions advisory services for companies with annual revenues ranging from $10 million to $150 million-plus. True North Mergers & Acquisitions was formed to capitalize on the M&A expertise that Sunbelt Business Advisors has developed and on the success the company has had in middle-market transactions. More information is available at www.tnma.com.