Britehorn Partners Research
Advisory Approach
Britehorn Partners is a leading independent middle-market investment bank founded in 2013 and headquartered in Denver, Colorado with additional offices in Delray Beach, Florida. The firm operates on a thesis of white-glove, tailored M&A advisory that prioritizes finding the right buyer and achieving meaningful outcomes for sellers that reflect the true value of what they've built, both financially and personally. Unlike traditional transactional advisors, Britehorn takes a consultative approach to complex sell-side processes, combining institutional rigor with personalized attention. The firm's sweet spot is founder-owned and lower-middle-market businesses across multiple verticals where owners seek experienced guidance in maximizing value while maintaining control over the process and buyer selection.
Sector Focus
Britehorn Partners maintains active practices across eight major industry verticals: Software & Technology (particularly enterprise software, cloud solutions, and fintech platforms), Healthcare (including health tech, medical services, and specialty healthcare providers), Telecommunications & Utilities, Sports/Media/Entertainment, Business Services, Financial Services & Insurance, Manufacturing & Industrials, and Consumer Products & Services. The firm's portfolio demonstrates particular strength in technology-enabled services businesses and title/real estate services verticals, evidenced by their transaction history in VOIP platforms, enterprise content management systems, and title agency acquisitions. Within each vertical, Britehorn builds deep industry relationships and contextual understanding of buyer motivations, competitive dynamics, and valuation drivers.
Deal Track Record
Britehorn Partners has closed a diverse portfolio of successful transactions across multiple industries and buyer types. Recent notable deals include:
- Requordit (enterprise content management and workflow automation platform) sold to Willcrest Partners in August 2025 — a strategic acquisition of a leading B2B software company
- Nana Technologies acquired by Domestic and General Group in December 2023 — representing Britehorn's expertise in technology sector M&A
- Action Title Research (title technology provider) acquired by Strattam Capital in December 2021 — demonstrating the firm's deep title industry relationships and the strong demand for title tech platforms from PE firms
- U.S. Title (full-service title agency with 14 branches across Utah) acquired by Shaddock National Holdings in September 2020 — showing Britehorn's ability to manage buy-side transactions for consolidation-driven acquirers
- World Wide Land Transfer was invested in by Corridor Capital in March 2021 — demonstrating capital formation advisory expertise alongside transactional work
- CloudNet Group (VOIP/hosted communications provider, Inc. 5000 fastest-growing company) acquired by Momentum Telecom in November 2018 — representing exclusive investment banker role on technology acquisition
These transactions span deal sizes from mid-market ($50M-$150M+) and include both strategic acquisitions and private equity recapitalizations. The firm's deal activity demonstrates consistent closing ability, strong buyer relationships across PE and strategic segments, and expertise in process-driven sell-side engagement.
Process & Fee Structure
Britehorn Partners employs an institutional sell-side process combining comprehensive buyer development with rigorous management of client objectives. The firm's process typically includes: (1) thorough due diligence and strategic positioning of the seller's business, (2) development of compelling management presentations and investor materials, (3) comprehensive buyer identification and outreach across both strategic and financial buyer categories, (4) management of competitive process dynamics to maximize valuation and terms, and (5) active involvement through diligence, negotiation, and closing stages. The firm emphasizes that they don't just close deals — they shepherd clients through complex processes to achieve the outcomes that matter most to them.
While specific fee terms are not publicly disclosed, Britehorn Partners operates as a traditional M&A advisory firm and likely utilizes modified Lehman structures (most common in the lower-middle market) with potential retainers and success fees tied to enterprise value. The firm requires exclusivity for sell-side engagements and takes an active, hands-on role rather than passive transaction facilitation.
Buyer Network
Britehorn Partners has established relationships with a diverse buyer ecosystem spanning private equity firms, strategic acquirers, and family offices. Transaction evidence demonstrates strong connectivity to: Willcrest Partners (B2B software focus), Strattam Capital (PE investor in title/insurance verticals), Shaddock National Holdings (title industry consolidator), Momentum Telecom (strategic telecom buyer), and Corridor Capital (growth capital provider). The firm's deal activity shows roughly balanced exposure between strategic buyers and financial sponsors, suggesting flexible positioning to maximize optionality for sellers.
Competitive Positioning
Britehorn differentiates through three primary lenses: (1) true independence and founder-friendly philosophy — the firm operates as a private, founder-led partnership rather than a large institutional platform, giving them flexibility and alignment with seller objectives; (2) vertical expertise and industry deep-dives rather than generalist approach — evidenced by concentrated practices in specific sectors where they've built buyer relationships and domain knowledge; (3) combined platform integrating both M&A advisory and broker-dealer services (through Britehorn Securities, FINRA-registered) — this integration provides operational and regulatory advantages in managing complex transactions while supporting affiliated investment bankers and placement agents.
Team
Britehorn Partners is led by four founding and managing partners: Bobbi Armstrong (Founder/Partner), Brett Story (Founder/Partner), Steve Gaynor (Partner), and Andrew Hurry (Partner). The team collectively brings 75+ years of M&A, investment banking, and corporate development experience across finance, law, operations, and entrepreneurship backgrounds. Natalia Story serves as Director of Compliance & Marketing. The firm also partners with numerous independent investment bankers operating through Britehorn Securities as their broker-dealer platform, expanding advisory capacity across geographies.
Geographic Coverage
Primarily US-based with core offices in Denver (Colorado) and Delray Beach (Florida). The firm serves clients and affiliated investment bankers across the United States and Canada, with demonstrated transaction activity spanning multiple states and regions (Utah, Colorado, Arizona, Florida, nationwide VOIP reach).