How we reviewed them
Every option below has a place, and many acquirers use several. We judged each on four things: whether it reaches owners who aren't actively selling, how well it filters for fit, how much of management's time it needs, and whether it keeps working after the first deal.
The reviews
Business brokers and marketplaces
Listings of companies for sale
- Best for
- Smaller acquisitions and opportunistic buyers
- Strengths
- Sellers are motivated and information packages exist. Fast to browse.
- Watch for
- You see what every other buyer sees, usually in a competitive process.
Buy-side investment banks
Advisor retained for a transaction
- Best for
- A single large or complex acquisition
- Strengths
- Deep transaction execution and negotiation experience.
- Watch for
- Usually scoped to one deal and often focused on companies already in play.
Deal networks
Platforms connecting buyers with sell-side advisors, such as Axial
- Best for
- Buyers who want steady deal flow from intermediaries
- Strengths
- Efficient access to many advisor-led processes.
- Watch for
- Deals come through intermediaries, so pricing tends to be competitive.
Company databases
Private company data platforms, such as PitchBook, Grata or SourceScrub
- Best for
- Teams with analysts who can work the data
- Strengths
- Fast market mapping and filtering across many private companies.
- Watch for
- Data is a starting point. Someone still has to qualify, contact and build relationships with owners.
Outbound sourcing services
Callers or email teams that book owner meetings
- Best for
- Buyers with a clear, narrow target profile
- Strengths
- Volume of first conversations.
- Watch for
- Meetings booked are not deals. Quality depends on how well they understand your thesis.
An in-house corp dev team
Your own hires
- Best for
- Serial acquirers with steady volume
- Strengths
- Institutional knowledge and integration ownership.
- Watch for
- Months to hire, and one person can only cover so much. See our in-house comparison.
Outsourced corporate development
Our pickAn acquisition team you engage, such as Windridge
- Best for
- Companies and platforms that want a full program without a department
- Strengths
- Thesis, full market map, confidential owner outreach, screening and pipeline reporting in one ongoing program, with senior deal leadership.
- Watch for
- Works best when leadership commits time to the targets that pass screening.
How to combine them
The strongest programs blend sources: databases for mapping, direct outreach for the companies that aren't for sale, and a watch on brokers and networks for anything that fits. The difference between a busy program and a productive one is the thesis that filters all of it.
Frequently asked questions
What is proprietary deal flow?
Acquisition opportunities found by contacting owners directly, before they hire an advisor or list the business. It usually means less competition and a better understanding of the company.
Do I still need a banker if I use outsourced corporate development?
Sometimes, for a large or complex deal. Many programs close without one, with the outside team supporting negotiation and diligence alongside legal and accounting advisors.