Brookwood Associates Research
Advisory Approach and Positioning
Brookwood Associates is an independent, Atlanta-based investment banking firm founded in 1989 with a thesis-driven approach to middle-market M&A advisory. The firm's core philosophy centers on "Experience, Insight, and Integrity"—a commitment to providing hands-on, senior-level advisory to business owners, management teams, and private equity sponsors navigating complex transactions. Rather than taking a one-size-fits-all approach, Brookwood emphasizes tailored process design that prioritizes client outcomes: valuation, timing, terms, and execution certainty.
Market Position and Scale
Brookwood has established itself as a middle-market leader with over 150 years of collective senior-level experience across its Managing Director team and a track record encompassing 149 completed transactions exceeding $10 billion in aggregate transaction value. This substantial deal volume, combined with the firm's focus on sell-side M&A processes and buy-side acquisition advisory, has positioned Brookwood as a trusted advisor to both founder-owned companies and private equity platforms seeking to execute strategic transactions.
Sector Expertise
The firm's deal history reveals deep expertise across multiple sectors:
Consumer & Restaurant Industry: Brookwood has established itself as a category leader in restaurant and consumer business transactions, with significant experience advising franchisors, franchisees, and multi-unit restaurant operators. Notable transactions include the Au Bon Pain recapitalization with LNK Partners (2008), the Togo's acquisition by Nimes Capital (2015), and the Luby's sale of the Fuddruckers franchise business (2021). Managing Director Amy Forrestal, who spent 25+ years at Bank of America Securities and predecessor organizations, was named one of 25 top women in mid-market M&A by Mergers and Acquisitions magazine in 2015 and 2016, with specific expertise in restaurant concepts and franchise businesses.
Manufacturing & Industrials: The firm demonstrates extensive capability in manufacturing, specialty chemicals, and industrial services. Deal experience includes the ALI Group's acquisition of Scotsman Industries (commercial food equipment, 2012), Arsenal Capital's acquisition of Para-Chem Southern (specialty chemicals, 2010), and Tredegar Corporation transactions. Managing Director Anish Gandhi brings 20+ years of experience in consumer and industrial sectors, having previously served as Vice President at Bank of America Merrill Lynch in the Global Metals & Mining industry.
Healthcare Services: Brookwood has closed significant healthcare transactions including Press Ganey's acquisition of Morehead Associates (employee and physician engagement, 2013) and advisory work on Hospice Advantage acquisitions. This vertical demonstrates the firm's ability to serve specialized service verticals beyond consumer and manufacturing.
Business Services & Distribution: The firm maintains active practices in business services, distribution, and logistics, with experience on transactions spanning industrial staffing, facilities management, and outsourced operations.
Process Philosophy and Execution
Brookwood emphasizes institutional-quality sell-side processes featuring competitive buyer outreach, comprehensive due diligence support, and management presentation coaching. The firm's hands-on approach involves senior bankers (Managing Directors) working directly with clients throughout engagement, contrasting with firms that delegate transaction execution to junior teams. For buy-side clients, Brookwood provides acquisition strategy advisory and target identification support leveraging its substantial network of domestic and international buyers.
Team Composition
The firm operates with a lean, senior-level team structure. The three Managing Directors—founder Robert Winborne (Goldman Sachs investment banking background), Amy Forrestal (BancAmerica Securities veteran), and Anish Gandhi (Bank of America Merrill Lynch veteran)—collectively bring 50+ years of hands-on M&A experience. Director Hampton Graham has led execution on 30+ transactions totaling $1.2+ billion in enterprise value. The firm also employs directors, associates, and analysts with backgrounds from leading finance firms, maintaining a middle-market-focused, client-centric culture.
Geographic and Buyer Network Scope
Brookwood maintains a client base spanning U.S.-based founders, family offices, and multinational corporations seeking U.S. entry. The firm's international scope includes representation of Asian and European buyers making U.S. acquisitions, with particular strength in private equity relationships and strategic buyer networks developed over 35+ years of continuous operations.