375 Park Associates Research
Advisory Approach
375 Park Associates is a strategic growth advisory firm founded in 2015 that serves the lower middle market, focusing on companies with enterprise values between $10 million and $150 million. The firm operates with a distinctive thesis that combines traditional M&A advisory with proprietary technology-enabled growth assessment tools. Their core belief is that successful outcomes require both exhaustive buyer outreach and data-driven decision support throughout the transaction lifecycle.
Unlike traditional investment banks that focus primarily on transaction execution, 375 Park Associates positions itself as a "growth partner" that helps clients not only complete transactions but also accelerate post-acquisition value creation. This approach reflects their background working with private equity firms and family offices who need help unlocking value in portfolio companies.
The firm has developed proprietary tools including the Growth Opportunity Index™ and Risk Index, which use AI-enabled analysis to assess growth potential and identify value creation opportunities. This technology-forward approach earned them the 2019 AI in Finance Award from Wealth & Finance International for Best Growth Potential Assessment Tool.
Sector Focus
375 Park Associates specializes in advising "disruptive growth companies" that are transforming traditional industries. Their primary sectors include:
Healthcare Services: The firm has deep expertise in healthcare services, driven by Senior Associate Natalie Clarke's background as a Healthcare & Life Sciences Analyst at Huron Consulting and her earlier career as a Senior Medical Technologist at New England Baptist Hospital. This operational healthcare experience gives the team unique credibility when advising physician practice groups, behavioral health platforms, and healthcare technology companies.
Manufacturing and Industrial: The firm actively advises manufacturing and industrial companies, with particular attention to supply chain resilience, nearshoring/reshoring strategies, and operational optimization. Their published research frequently addresses tariff impacts, supply chain diversification, and manufacturing efficiency—reflecting their work with industrial clients navigating global trade disruptions.
Technology and Disruptive Tech: Through their Growth Opportunity Index™, the firm focuses on identifying disruptive technology opportunities, particularly in the Asia-Pacific region. Senior Associate Li Worawiwat's background in investment banking across Hong Kong and Singapore, advising private companies on M&A transactions, provides the team with strong cross-border technology transaction expertise.
Business Services: The firm advises various business services companies, with particular focus on those benefiting from operational improvements and technology adoption.
Consumer and Luxury: Their stated sectors include luxury and lifestyle businesses, where they help companies navigate consumer trends and operational scaling challenges.
Deal Track Record
375 Park Associates reports that their team has closed transactions in the U.S. and abroad ranging from $10 million to $150 million in value. The firm's marketing materials indicate they have worked with over 100 clients across 25 countries, with aggregate asset value exceeding $1 billion.
The firm operates as both a buy-side and sell-side advisor, with capabilities spanning:
- Sell-Side Advisory: Helping business owners prepare for and execute sales processes
- Buy-Side Advisory: Assisting private equity firms, family offices, and strategic buyers with acquisitions
- Recapitalizations: Helping companies restructure capital while providing liquidity to owners
- Growth Capital Raises: Late-stage venture and growth capital raises, private minority stake sales, and secondary transactions
- Special Situations: Unique or complex transaction structures
While 375 Park Associates does not typically publish individual deal press releases (a common practice among boutique lower middle market firms that prioritize client confidentiality), their LinkedIn presence and published insights demonstrate active engagement in current market conditions. Managing Director Gregory Thomas regularly posts about M&A market trends, private equity exit challenges, tariff impacts on deal structures, and operational value creation strategies—indicating active deal involvement.
Notably, Gregory Thomas has been recognized by The M&A Advisor, appearing in their Leadership in Dealmaking Summit journal (2025) and Distressed Investing Summit materials (2025), suggesting peer recognition for transactional work.
Process & Fee Structure
375 Park Associates operates on a fee-for-service model. The firm requires a non-refundable retainer fee upon engagement, which is credited against any success fees ultimately payable. This structure aligns with lower middle market practice, protecting the firm's investment in client work while ensuring clients have skin in the process.
The firm's process emphasizes:
Pre-Transaction Decision Support: Before any deal process begins, 375 Park offers decision support services to help owners and investors evaluate whether to pursue a transaction. This reflects their view that not every situation calls for a sale—sometimes growth, operational improvement, or recapitalization may be superior paths.
Comprehensive Buyer Network: The firm maintains relationships with over 5,000 accredited investors, with nearly 80% in North America. This network includes family offices, private equity and sovereign wealth funds, commercial banks, and hedge funds. This broad reach allows them to run effective processes for lower middle market companies that might struggle to access sophisticated buyers independently.
Quality of Earnings and Due Diligence: The firm provides QoE analysis and due diligence support, reflecting their operational approach to transaction advisory. They don't just market businesses—they help validate financial performance and identify value creation opportunities.
Post-Acquisition Integration: Unusually for a lower middle market advisor, 375 Park explicitly offers post-acquisition integration support, helping buyers realize the synergies and operational improvements that justified the acquisition. Their website highlights a case study of "Post-Merger Integration Drives ROI of > 400%"—demonstrating their focus on value realization after the close.
Buyer Network
375 Park Associates has assembled a database of more than 5,000 accredited investors across multiple categories:
- Family Offices: A significant portion of their network, reflecting their specialized family office advisory practice
- Private Equity Firms: Both institutional and independent sponsors, across sectors including healthcare, industrial, business services, and consumer
- Sovereign Wealth Funds: Particularly in the Asia-Pacific region, leveraging Li Worawiwat's connections and the firm's Growth Opportunity Index™ work
- Commercial Banks: For debt financing and structured solutions
- Hedge Funds: For special situations and more complex transaction structures
The firm's geographic reach extends beyond North America, with affiliates in Asia and Europe and stated coverage of 25 countries. This international perspective is unusual for a firm of their size and provides clients with access to cross-border buyers and strategic acquirers.
Competitive Positioning
375 Park Associates differentiates itself through several unique attributes:
Proprietary Technology: The Growth Opportunity Index™ and Risk Index provide data-driven insights that other lower middle market firms cannot match. This technology allows them to quantify growth opportunities and assess risk with greater precision than traditional advisory methods.
Operational Expertise: Team members have operational backgrounds—Natalie Clarke in healthcare laboratory science, Li Worawiwat in investment banking operations, Melissa Tan in accounting and audit. This allows the firm to go beyond financial modeling to assess operational realities and value creation opportunities.
Family Office Specialization: The firm explicitly offers family office advisory services, understanding that family-owned businesses have different priorities, timelines, and emotional considerations than private equity-backed companies or founder-led startups.
Lower Middle Market Focus: By focusing exclusively on $10M-$150M transactions, 375 Park has developed specialized expertise in the unique challenges of this segment—where deals are too small for elite boutiques but too complex for business brokers.
Award Recognition: The firm won Acquisition International's 2019 Award for Excellence in Corporate Valuations as Best Mid-Market PE Investment Advisory Firm in New York, validating their approach among peers.
Public Thought Leadership: Unlike many competitors, 375 Park actively publishes market insights and commentary. Their LinkedIn presence and website "Insight" section feature regular analysis of tariffs, supply chain disruption, private equity exit challenges, and operational value creation—demonstrating market engagement and intellectual leadership.
Not a Fit If
Based on their stated focus and positioning, 375 Park Associates is likely not a fit for:
- Transactions below $10 million: The firm's stated minimum deal size is $10 million
- Purely asset sales: As an M&A broker operating under the SEC exemption, they focus on going-concern businesses with ongoing operations, not liquidations or asset sales
- Founders wanting limited processes: The firm's value proposition includes exhaustive buyer outreach and data-driven analysis. Owners who want a quick, targeted sale to a single buyer may not be a match
- Public companies or reverse mergers: Their focus is private company transactions in the lower middle market
- Venture-backed startups requiring Silicon Valley networks: While they handle growth capital raises, their network and positioning skew toward traditional industries rather than high-growth tech startups
Team
Gregory M. Thomas, Managing Director: Founder and Managing Director of 375 Park Associates since 2015. Thomas is the public face of the firm, regularly publishing market commentary on M&A trends, private equity dynamics, and operational value creation. He has been recognized by The M&A Advisor in their Leadership in Dealmaking Summit (2025) and Distressed Investing Summit (2025). His LinkedIn activity demonstrates expertise in lower middle market transaction dynamics, supply chain disruption impacts, and private equity exit challenges.
Ho Ah Lan (May), Operations Director: Responsible for the firm's operational infrastructure and day-to-day management. Her title suggests she ensures smooth execution of client engagements and internal processes.
Natalie Clarke, Senior Associate: Joined the firm in 2015 and leads the research team with a focus on disruptive technologies via the proprietary Growth Opportunity Index™ and Risk Index. Before joining 375 Park, she was a Healthcare & Life Sciences Analyst at Huron Consulting. She began her career as a Senior Medical Technologist at New England Baptist Hospital, giving her operational healthcare expertise that informs her advisory work. Clarke holds a BSc in Medical Laboratory Science and an MBA in Finance, both from Northeastern University. She resides in Darien, Connecticut.
Li Worawiwat, Senior Associate: Joined 375 Park Associates in 2015 and is responsible for generating and evaluating investment opportunities, running the firm's back-office operations, and managing due diligence processes. Before joining the firm, she worked in investment banking in Hong Kong and Singapore, primarily advising private companies on M&A transactions. Most recently, she worked with family offices in the Asia-Pacific region providing M&A advisory services to closely-held companies. Li holds a BBA in Finance from Mahidol University International College in Thailand and an MBA from the National University of Singapore. She lives in Bangkok, Thailand.
Melissa Tan, Associate: Joined the firm in 2017 and oversees accounting and administrative duties revolving around day-to-day operations. She began her career working in the audit & assurance practice at BDO in Stamford, CT. A native of Johor Bahru, Malaysia, Melissa attended high school in Singapore and graduated from Fairfield University with a BS in Accounting. She lives in New York City.
Jonathan Young, Associate: Associate at the firm, contributing to transaction execution and client service.
Shawn Richards, Associate: Associate at the firm, contributing to transaction execution and client service.
The firm's team includes "former associates and managers from top-tier investment banks and Global Top 100 companies" per their marketing materials, suggesting pedigrees from larger financial institutions. LinkedIn indicates the firm has 11-50 employees.
Geographic Coverage
375 Park Associates is headquartered in New York, NY, with offices in the Seagram Building (26th Floor, 375 Park Avenue, New York, NY 10152). The firm has stated affiliates in Asia, Europe, and the United States, and claims to have worked with clients in 25 countries.
Their international capabilities are particularly strong in the Asia-Pacific region, where Li Worawiwat is based and where the firm's Growth Opportunity Index™ focuses. The firm's website and LinkedIn content demonstrate awareness of global issues including tariffs, supply chain disruption, and cross-border transaction dynamics—suggesting genuine international capability rather than merely claimed reach.
Core domestic markets appear to be the Northeast United States (New York, Connecticut, etc.), though their virtual engagement model and client base suggest national coverage rather than regional limitation.