Chesapeake Corporate Advisors — M&A Advisory Profile

01Advisory Approach

Our proprietary Shareholder Value Maturity Model evaluates nine categories that impact valuation, enabling tailored strategies based on company maturity.

Sweet Spot

Investor-owned and closely held emerging growth and middle market companies with revenues between $10 million and $200 million in government contracting, engineering & construction, healthcare services, business services, distribution, and manufacturing. Companies located in the Mid-Atlantic region seeking holistic partnership from value creation through exit.

Not A Fit If

Businesses below $10 million in enterprise value, pure asset sales, companies requiring limited buyer outreach or fast-track processes, industries outside our focus areas, distressed situations without clear path to stabilization, clients seeking national/international market exposure beyond Mid-Atlantic expertise.

Holistic lifecycle partnership (working with clients 3-5 years before exit vs. transactional boutiques), proprietary Shareholder Value Maturity Model for valuation optimization, exhaustive buyer outreach (200-400 contacts vs. 50-100 industry average), deep Mid-Atlantic regional specialization with 20 years of relationships, operational experience including former PE investors and operators on team, long-tenured team with average 20 years staff tenure and founding team still active.

Chesapeake Corporate Advisors Research

Advisory Approach

Chesapeake Corporate Advisors (CCA) is a boutique investment banking and corporate advisory firm founded in 2005, serving emerging growth and middle market companies with revenues typically between $10 million and $200 million. The firm operates with a distinctive holistic approach: they partner with clients at every stage of the business lifecycle, from value creation and strategic positioning through eventual sale or recapitalization. Their proprietary Shareholder Value Maturity Model evaluates nine complementary categories that impact business valuation, enabling tailored strategies based on company maturity.

CCA's thesis is that most businesses are not optimally positioned for sale when owners are ready to exit. They address this through years of pre-sale preparation, helping clients enhance business value, strengthen management teams, improve financial reporting, and prepare for the rigorous due diligence process. This long-term partnership approach—often working with clients for 3-5 years before a transaction—differentiates them from transactional boutiques that engage only when a sale is imminent.

Sector Focus

CCA has developed deep expertise in six targeted industry sectors, with 20 years of transaction experience across each:

Government Contracting & IT: Federal defense, cybersecurity, intelligence community support, IT services, and software development. The firm understands the unique complexities of selling businesses in highly regulated environments with specific contractual, compliance, and legal issues. Recent deals include Tharros (cyber research and operations for federal government) and Vetegrity (DoD and intelligence community services).

Engineering & Construction: Architecture firms, civil engineering, specialty contractors, electrical construction, and construction services. CCA understands the talent constraints, scale requirements for large contracts, and infrastructure tailwinds driving consolidation. Representative transactions include Burns Engineering (transportation and infrastructure engineering) and Freestate Electric ($300M revenue electrical contractor).

Healthcare Services: Physician practice management, hospitalist groups, post-acute care facilities, and healthcare services. The firm has advised on transactions including Adfinitas Health's acquisition of Advanced Inpatient Medicine, expanding geographic footprint across Maryland, Virginia, and Michigan.

Business Services: Environmental consulting, testing laboratories, fire protection, distribution, and professional services. CCA has completed multiple transactions including AMA Analytical Services (environmental testing lab sold to SGS), Fireline Corporation (fire protection services), and Belair Road Supply (waterworks distribution).

Logistics, Transportation & Distribution: Value-added distributors, transportation services, and supply chain management. CCA's transaction experience includes Valley Lighting, a lighting and shading distributor supporting electrical contractors across multi-stage commercial and industrial projects.

Manufacturing & Distribution: Industrial manufacturing, product distribution, and industrial services. The firm's manufacturing practice has worked with companies across discrete and process manufacturing, with deals spanning building products, specialty materials, and industrial equipment.

Deal Track Record

CCA has completed 150+ transactions since 2005, representing over $4.7 billion in collective transaction value. The firm maintains a disciplined, exhaustive buyer outreach process, typically contacting 200-400 qualified buyers per engagement to ensure optimal outcomes. Recent transactions span multiple industries:

2026: Tharros (ANALYGENCE) recapitalized by Blue Delta Capital Partners—cyber vulnerability research and operations for federal government

2025: Burns Engineering sold to OceanSound Partners—transportation and critical infrastructure engineering with 13 offices nationwide, ENR Top 500 Design Firm; AMA (Aerosol Monitoring & Analysis) sold to The EI Group—environmental health and safety consulting; Valley Lighting sold to Caymus Equity Partners—Mid-Atlantic lighting and shading distributor; Belair Road Supply sold to Fortiline Waterworks—fourth-generation family waterworks distributor; McHale & McHale Landscape Design invested by Hidden Harbor Capital Partners—premium residential landscaping across DMV; Fireline Corporation recapitalized by Encore Fire Protection—third-generation fire protection services provider

2024: Freestate Electric 90% sold to Sojitz Energy Services—$300M revenue electrical contractor with 1,000+ union craftsmen; AMA Analytical Services sold to SGS—environmental testing lab; Vetegrity recapitalized by private investor group—Service-Disabled Veteran-Owned business serving DoD and intelligence community

2020: eThink Education sold to Learning Technologies Group plc—Moodle learning management system provider with customers in 22 countries and 2M+ users

2018-2019: Marks Thomas Architects merged with Moseley Architects—Baltimore-based architecture firm focused on senior living and multi-family housing; Adfinitas Health acquired Advanced Inpatient Medicine—physician-owned hospitalist group; Little & Associates sold to Century Engineering—Baltimore civil engineering and surveying firm

Process & Fee Structure

CCA runs institutional-quality, comprehensive sell-side processes with typical engagement timelines of 6-12 months from preparation to close. Their approach includes:

Pre-transaction preparation: Value enhancement initiatives, financial reporting improvements, management presentation coaching, data room preparation
Buyer outreach: 200-400 targeted buyers per engagement (PE firms, strategic acquirers, international buyers)
Due diligence support: Quality of earnings coordination, information management, deal negotiation
Transaction structure: Sale, recapitalization, management buyout, merger, or strategic partnership

The firm requires exclusivity and typically charges monthly retainers credited against success fees. While specific fee structures are not publicly disclosed, CCA operates on standard investment banking models with retainers during engagement and success fees payable upon transaction closing. Minimum engagement size is approximately $10 million in total enterprise value.

Buyer Network

CCA maintains extensive relationships with 2,000+ active buyers across private equity firms, strategic acquirers, and family offices. The firm's buyer network is particularly strong in:

Private Equity: OceanSound Partners, Blue Delta Capital Partners, Caymus Equity Partners, Hidden Harbor Capital Partners, Encore Fire Protection, Sojitz Energy Services, SGS corporate development, Fortiline Waterworks/Reece Group, The EI Group, and numerous regional and national PE firms. CCA's team includes former PE professionals (Stuart Knott previously at a regional PE firm) who understand buyer criteria and process requirements.

Strategic Buyers: The firm has closed transactions with strategic buyers including Learning Technologies Group plc (UK), SGS (Switzerland-based testing leader), Sojitz Corporation (Japanese trading company), and numerous domestic strategic acquirers across engineering, environmental services, construction, and government contracting sectors.

Geographic Reach: While concentrated in the Mid-Atlantic region, CCA's buyer network extends nationally and internationally, with recent transactions involving buyers from New York, Atlanta, North Carolina, Tokyo, and London.

Competitive Positioning

CCA differentiates through several key factors:

Holistic Lifecycle Partnership: Unlike boutiques that engage only for transactions, CCA partners with clients for years before a sale, providing strategic advisory, value creation services, and preparation for eventual exit.
Proprietary Valuation Framework: The Shareholder Value Maturity Model evaluates nine categories impacting valuation, enabling targeted value enhancement strategies tailored to company stage.
Exhaustive Buyer Outreach: 200-400 buyer contacts per engagement versus industry average of 50-100, ensuring comprehensive market coverage and optimal pricing.
Regional Specialization: Deep Mid-Atlantic expertise with 20 years of relationships across Maryland, Virginia, Washington DC, Delaware, and Pennsylvania markets.
Operational Experience: Team members include former operators, PE investors, and industry practitioners who understand operational due diligence and integration considerations.
Long-tenured Team: Average 20 years of staff tenure with founding team still active, providing continuity and deep institutional knowledge.

Not a Fit If

CCA typically declines engagements that:

Are below $10 million in enterprise value
Require pure asset sales (focus on going-concern enterprises)
Need limited buyer outreach or fast-track processes
Are outside the firm's industry focus areas
Require national or international market exposure beyond Mid-Atlantic expertise
Involve distressed or turnaround situations without clear path to stabilization

Team

CCA's leadership team averages 30+ years of experience per managing director:

Charlie Maskell, Managing Partner & Founder: Certified Business Appraiser and Certified M&A Advisor with decades of experience. Former Advisory Practice Leader for McGladrey's Mid-Atlantic Region. B.A. in Accounting from Loyola University Maryland, Certificate in Business Strategy from University of Chicago. Serves on boards of Mercy Medical Center and Cristo Rey Jesuit High School.

Martin O'Neill, Managing Director (Corporate Advisory): Leads corporate advisory practice. Former senior-level roles at regional PE firm and Vice President at KPMG Corporate Finance. MBA with finance concentration from University of Maryland, bachelor's from Boston College.

Michael Zuidema, Managing Director (Corporate Advisory): Leads engineering and construction sector practice.

Stuart Knott, Managing Director (Investment Banking): Head of Business Services Team. 20 years of middle-market experience as both investment banker and private equity investor. Previous principal investor at regional PE firm, Vice President at KPMG Corporate Finance. MBA from University of Maryland, bachelor's from Boston College.

Tim Brasel, Managing Director (Investment Banking): Leads engineering, construction, and government contracting transactions. Key deal team member on Burns Engineering, Freestate Electric, Valley Lighting, and McHale & McHale transactions.

Christopher Oven, Managing Director (Corporate Advisory): Three decades of experience in investments, commercial banking, and advisory. Leads value creation and strategic advisory engagements.

Steve Collins, Managing Director (Investment Banking): Focuses on investment banking transactions.

Andy Spears, Director (Corporate Advisory): Specializes in deal architecture, readiness assessments, and preparation roadmaps. Former PwC Transaction Services, HighBank Advisors, and Janney Montgomery Scott. B.A. in Economics and History from Vanderbilt University.

Katie Kieran, Director (Investment Banking): Strong analytical, strategic, and financial modeling skills. Day-to-day execution lead on AMA, Valley Lighting, Belair Road Supply, and AMA Analytical Services transactions.

The firm maintains approximately 20 professionals across managing directors, directors, vice presidents, associates, analysts, and support staff, with deep functional expertise and industry specialization.

Geographic Coverage

CCA is headquartered in Harbor East, Baltimore, Maryland (1001 Fleet Street, Suite 420) and serves clients primarily in the Mid-Atlantic region including Maryland, Virginia, Washington DC, Delaware, Pennsylvania, and surrounding states. While the firm's geographic focus is regional, its buyer network and transaction capabilities extend nationally and internationally, with recent transactions involving buyers from New York, Atlanta, North Carolina, Tokyo, London, and other markets.