M&A executionfrom thebuyer’s seat.

Lockstep Partners provides outsourced M&A execution for private equity-backed platforms, sponsors, investment banks and brokers, with the deepest experience in healthcare and legal services MSOs. The team handles sourcing, pre-LOI analysis, valuation, LOI negotiation, diligence management, closing funds flow and integration planning, either as an outsourced corporate development team or as co-advisor alongside a bank.

Lower-middle-market transactions, typically practices and firms with less than $5 million of EBITDA. In the founder's record, 42 of 47 buy-side acquisitions carried less than $3 million of EBITDA, and the median target EBITDA was about $1.0M.

The bank keeps the client relationship, the engagement letter and the mandate. Lockstep staffs execution work such as the model, buyer or target lists, diligence management and closing. Lockstep is paid through a share of the success fee, a retainer credited against the success fee, or a fixed fee for a defined workstream.

No. Lockstep Partners is not a registered broker-dealer. It advises on control transactions involving privately held companies in reliance on the federal M&A broker exemption and applicable state exemptions, and it does not raise capital or hold client funds.