ERGO Comps Research
Advisory Approach
ERGO Comps is a solo corporate development advisory practice led by Charles Bedard, serving founder-led B2B and Work Tech companies. The firm operates with a distinctive thesis: rather than brokering transactions, Charles focuses on transformational work that helps businesses build "sale-ready" value long before any banker enters the room. His approach emphasizes strategic clarity, valuation readiness, operational precision, and buyer-grade metrics—transforming good businesses into premium ones.
Unlike traditional investment banks that lead with pitch decks and exhaustive buyer outreach, ERGO Comps positions itself as a fractional corporate development partner. The practice is built on the belief that too many advisors focus on transactions rather than the hard, invisible work of turning a sound business into a premium asset. Charles explicitly states he doesn't chase deals, doesn't build slide decks, and doesn't lead with fluff—his value is in real strategic lift.
Sector Focus
ERGO Comps specializes exclusively in B2B and Work Tech industries. Charles has 20+ years of corporate finance and M&A experience specifically in Workplace technology and services, with deep domain expertise in Human Capital Management (HCM), HR Technology, and SaaS businesses. His background includes leadership roles at Navant Partners (a specialized HRTech M&A firm) and Venero Capital Advisors, giving him direct transactional experience across compensation management, intelligent automation/RPA, HR services, and B2B SaaS.
The firm's sweet spot is founder-led B2B services and Work Tech software companies doing $2M-$29M in revenue. This focus is narrower than most lower middle market banks—Charles deliberately concentrates on tech-enabled services and SaaS where operational metrics, revenue quality, and strategic narrative drive valuation outcomes.
Deal Track Record
While ERGO Comps operates as a solo advisory practice focused on corporate development and transaction readiness, Charles Bedard's deal experience includes M&A transactions completed during his tenure as Principal at Navant Partners, a specialized M&A firm for technology companies. Notable transactions include:
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Compaas: Sold to a publicly traded payroll provider (2024). Compaas was a comprehensive compensation management SaaS platform scaling from mid-market to enterprise. The transaction integrated Compaas into the acquirer's HCM platform, addressing compensation workflow, analytics, and total rewards management.
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Element Blue: Acquired by Tquila Automation (2024). Element Blue was a UiPath Platinum Partner and intelligent automation leader in the US healthcare market. The $20M acquisition was funded by Delta-v Capital. Element Blue's solutions streamlined patient access, referrals, and revenue cycle management for healthcare providers and payers.
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UA Services Corp: Acquired by LegalZoom. A strategic transaction in the HR services space.
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PBS Endo: Acquired by Henry Schein One. A healthcare services transaction.
In addition to these sell-side transactions, Charles has advised on buy-side sourcing, roll-up strategy for PE platforms, and exit readiness engagements. The firm's case studies highlight an 18-month exit readiness engagement where a founder doing $3.8M ARR achieved an 8.1x trailing EBITDA multiple with 100% closing after operational improvements and KPI restructuring.
Process & Fee Structure
ERGO Comps offers three engagement models:
- Project-Based: Valuation clarity, benchmarking, exit readiness, and liquidity optionality projects
- Fractional: 1-2 days per week as an embedded corporate development lead
- Advisory + Diligence Support: For investor teams and buy-side rollups
The firm takes on a limited number of clients to ensure deep, strategic engagement. Charles explicitly states there are no retainers for the sake of it, no vague advisory relationships—engagements are scoped, agreed upon, and executed.
Charles does not publicly disclose specific fee structures. The website does not mention Lehman formulas, retainer ranges, or success fee percentages. As a fractional corporate development advisor rather than a registered broker-dealer, his compensation model likely differs from traditional investment banks. Prospective clients would need to engage directly to discuss fee structure.
Buyer Network
Through his roles at Navant Partners and Venero Capital Advisors, Charles has relationships with strategic buyers and private equity firms in the HRTech, Work Tech, and B2B SaaS spaces. Notable buyer relationships from transactions include publicly traded payroll providers (strategic acquirers in the HCM space), Tquila Automation (PE-backed intelligent automation platform), LegalZoom (strategic acquirer in HR services), and Henry Schein One (healthcare strategic).
Charles's buyer network is strongest in strategics within HRTech/Work Tech and PE firms focused on lower middle market software and services. His positioning as a corporate development advisor means he often helps founders understand their strategic fit before a formal process begins—identifying whether a PE exit, strategic sale, or recapitalization makes the most sense given the business characteristics.
Competitive Positioning
ERGO Comps differentiates from traditional lower middle market investment banks in several key ways:
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Transformation-over-transaction philosophy: Charles focuses on building premium businesses before any sale process, not just running marketing processes.
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Fractional corporate development model: Rather than transaction-only engagement, he offers embedded corporate development support for founders who need strategic lift beyond M&A.
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Deep HRTech/Work Tech domain expertise: Two decades of specialization in workplace technology gives him operational and market insight that generalist banks lack.
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Independence from institutional banking: As a solo practice, Charles has no quota, no proprietary deal flow to push, and no conflicts of interest—he works exclusively for founder clients.
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No-bloat approach: The practice explicitly avoids bloated teams, wasted time, and unnecessary complexity. Clients get "the right level of support when you need it."
Not a Fit If
Based on the firm's positioning and sweet spot, ERGO Comps is not a fit if:
- Business revenue is below $2M or above $29M (the firm's stated range)
- You're looking for a traditional sell-side marketing process with exhaustive buyer outreach
- You want a banker who leads with pitch decks and presentation materials
- You need a broker-dealer with FINRA-registered representatives
- You're looking for quick transaction execution without operational improvement
- You're outside B2B services or Work Tech SaaS (the firm's exclusive focus)
Charles explicitly states he works with founders who are "building something real—and want to be ready for what comes next." If you want a traditional M&A banker to run a 6-month sell-side process, ERGO Comps is not the right fit.
Team
ERGO Comps is a solo practice led by Charles Bedard. There are no additional team members listed on the website. The practice is intentionally lean—no bloated teams, just Charles working directly with founders.
Charles Bedard – Managing Director & Principal
- 20+ years corporate finance and M&A experience
- Specialization: Human Capital Management, HR Technology, SaaS, and Workplace technology
- MBA: Texas Christian University - M.J. Neeley School of Business
- BA: Southwestern University
- Certified M&A Advisor (CM&AA) – Alliance of M&A Advisors
- Certified Exit Planning Advisor (CEPA) – Exit Planning Institute
- Previous roles: Principal at Navant Partners, Director at Venero Capital Advisors, Principal Partner at Ephor Group (led Growth Practice)
- Member: Association for Corporate Growth (ACG)
Charles's background spans both operator and advisor sides. He started on the operator side running and scaling businesses, which informs his approach to helping founders build operational excellence before transactions. His LinkedIn profile describes him as an "M&A Corporate Development Comps Analyst Advisor for B2B Services and Work Tech Software entrepreneurs, operators, investors, and strategics."
Geographic Coverage
ERGO Comps is based in Houston, Texas, with additional presence in Edmond, Oklahoma (per Exit Planning Institute listing). The firm serves clients nationally, with no geographic restriction specified. Given B2B SaaS and Work Tech are inherently national/global categories, location is less relevant than industry fit.
Additional Context
Charles maintains an active content presence through the "Solve the Value" blog and podcast appearances (including The Accounting Podcast discussing modern pricing models and firm valuation). He shares practical insights on building valuable founder-led businesses. The firm also operates ErgoComps, described as a private market intelligence platform helping founders price and position their businesses.
For founders seeking traditional sell-side representation with exhaustive buyer outreach, Charles's background at Navant Partners and Venero Capital Advisors provides relevant transactional experience. However, his current practice emphasizes the corporate development work that happens before a sale—making the business premium rather than just marketing it.