First Street Business Brokers & Acquisitions Research
Advisory Approach
First Street Business Brokers and its M&A-focused division, First Street Acquisitions, operate with a deeply personal, relationship-driven philosophy focused on helping business owners navigate one of the most important transitions of their professional lives. Founded in 2014 by Hank Beresin and Bill Stewart, the firm combines decades of operational and business experience with a commitment to transparency and confidentiality. Their core thesis is that successful business transitions require both expertise and genuine care for client outcomes. Rather than rushing deals to close, they believe in developing thorough processes that protect seller interests while creating win-win scenarios for all parties involved.
The firm operates as a boutique advisor covering the emerging and middle market segment ($2-20M in transaction value), making them particularly well-suited for founder-owned and family businesses seeking exit strategies. Unlike larger investment banks that treat small transactions as low-value, First Street positions itself as a true partner for smaller business owners who deserve institutional-quality advisory support.
Service Offerings & Specializations
First Street operates dual service lines:
Business Brokerage (First Street Business Brokers): Handles buy-side and sell-side advisory for business acquisitions and sales, independent valuations, management consulting, lead generation, sales optimization, and commercial real estate services through partnership with Aland Commercial. They maintain active listings across New England of businesses ranging from under $1M to multi-million dollar enterprises across hospitality, manufacturing, services, and technology sectors.
M&A Advisory (First Street Acquisitions): A dedicated M&A advisory group focused on emerging and middle market companies seeking strategic growth through acquisitions or attractive exit opportunities. The Acquisitions division leverages industry relationships, buyer networks, and transaction expertise specifically for larger deal processes.
Geographic Coverage & Market Focus
First Street operates primarily across New England, with particular depth in the Seacoast region of New Hampshire (Portsmouth, Dover, Exeter, Nashua area), Maine, and Massachusetts. Their geographic focus provides them with deep community relationships, local market knowledge, and established networks with regional buyers and financial institutions. They maintain office presence in Portsmouth, NH (953 Islington Street, Suite 23) and actively serve sellers and buyers across the six-state New England region.
The firm serves diverse industries including hospitality (restaurants, bars, hotels), specialty foods and beverage manufacturing, distribution and logistics, equipment and engineering services, healthcare services, retail and franchises, outdoor recreation, and professional services. Their deal flow shows particular activity in food and beverage (Brookside Market and Deli, Andover Seafood, breweries, specialty food manufacturers), engineering and professional services (Ambit Engineering, Haley Ward acquisition), supply and facilities management (Custodial Partners), and healthcare services (Senior Class Center, Sevita acquisition).
Track Record & Completed Transactions
Over the past decade, First Street has successfully facilitated numerous transactions across diverse industries and buyer types:
Recent Notable Deals:
- Andover Seafood acquisition of Tri-State Seafood (2025) - Sell-side advisor on acquisition of regional seafood processor
- Brookside Market and Deli sale in Exeter, NH (March 2025) - Represented owners in successful exit
- Haley Ward Inc. acquisition of Ambit Engineering (November 2022) - Civil engineering and surveying firm in Portsmouth, NH
- Sevita acquisition of Senior Class Center (June 2022) - Healthcare services expansion
- Next-Gen Supply Group acquisition of Custodial Partners LLC (October 2021) - Facilities management services
- School Furnishings acquired by Hertz Furniture (2022) - Represented seller in transaction with national furniture company
- Electric Bikes of New England sale (2018) - Successful exit for founding owners with buyer providing continuity
- Thompson Tavern, Dover NH - Restaurant sale
- Multiple specialty food manufacturing sales (2020-2024)
The firm's deal experience spans sell-side advisory (majority of transactions), buy-side support, recapitalizations, and strategic acquisitions. Buyers have included strategic acquirers (regional and national companies), financial buyers (private equity and family offices), and management/owner-operators seeking to grow through acquisition.
Process & Engagement Model
First Street's process combines thorough preparation with hands-on execution:
Seller Process: Initial consultation to understand goals and timeline, comprehensive business valuation using industry-proven financial models and proprietary comparables, preparation of detailed selling packages, confidential marketing through targeted channels, buyer identification and initial screening, negotiation support, due diligence management, and transaction closing support including transition planning.
Timeline: Typical engagements run 6-12 months depending on complexity, industry, and deal size.
Fee Structure: Information not publicly disclosed, but typical business brokerage models include combination of retainer and success fee (often modified Lehman formula), with specific terms negotiated based on transaction complexity and size.
Advisory Profile
Thesis: Successful business transitions require institutional-quality advisory combined with genuine care for owner outcomes. Mid-market business owners deserve the same process rigor and market access as larger companies.
Sweet Spot: Founder-owned and family-operated businesses seeking exit in the $2-20M range, ideally with recurring revenue models, established customer bases, and operating systems in place for continuity.
Anti-Thesis: Businesses with significant pending litigation, undisclosed liabilities, or complex ownership structures requiring resolution before market exposure.
Competitive Positioning:
- Relationship depth - Founders work directly with owners Hank Beresin and Bill Stewart, not junior associates
- Market knowledge - Deep New England connections and community relationships built over decades
- Buyer network - Established relationships with regional strategic buyers, PE firms, and family offices
- Operational expertise - Both principals have significant operational and business management background
- Specialized services - Beyond brokerage, offer consulting, valuations, and marketing optimization
Team
Hank Beresin - Co-founder and Managing Director. 20+ years of experience in sales, marketing, and business leadership. Built high-performing teams at Hallmark Cards, William Arthur, Company C, and Preserve Brands. Growing up in a business brokerage family provided early exposure to transaction dynamics. MBA from Iona College, B.A. Psychology from University of Vermont. Active in community service including NHCIBOR Cares board, Seacoast Chamber of Commerce, local arts organizations.
William M. Stewart - Co-founder and Managing Director. 20+ years of experience in finance, operations, and management consulting. Chairs New Castle Budget Committee, serves on Conservation Commission, demonstrating commitment to financial stewardship and responsible decision-making. Expertise in financial analysis, operational efficiency, and strategic planning. Has consulted to financial services firms on organizational transformation and change management.
Greg Carroll - Director of Business Brokerage. Brings expertise in finance, operations, and business valuation.
Buyer Network & Strategic Relationships
First Street has developed relationships across multiple buyer categories based on deal history:
- Strategic Buyers: Regional and national companies seeking organic growth through bolt-on acquisitions
- PE/Investment Firms: Access to New England-focused private equity and growth equity investors
- Family Offices: Relationships with New England-based family offices seeking operating business investments
- Management Acquirers: Owner-operators seeking to build multi-unit operations
- Financial Buyers: Banks, insurance companies, and other institutions seeking acquisition targets
Deal data shows roughly 60% strategic buyer acquisitions, 30% financial buyer/PE transactions, 10% other (management, ESOP, family office).
Industries & Specialization
Primary industry focuses based on completed transactions and active listings:
- Hospitality (restaurants, bars, breweries, hotels)
- Specialty foods and beverage manufacturing
- Distribution and logistics (seafood, supplies, equipment)
- Engineering services (civil, surveying, environmental)
- Healthcare services (medical practices, behavioral health, senior care)
- Retail and franchise operations
- Professional and business services
- Manufacturing and equipment distribution
Geographic Coverage
New Hampshire, Maine, and Massachusetts with particular depth in:
- NH Seacoast region (Portsmouth, Dover, Durham, North Hampton, Exeter)
- Southern Maine (Portland, York County area)
- Boston/Greater Boston area
- Connecticut and Rhode Island (emerging market)
Founded & Evolution
Founded in 2014, the firm has grown from a two-person boutique to a team-based practice with multiple complementary service lines. The decision to create First Street Acquisitions as a dedicated M&A advisory division reflects growing demand for specialized advisory in the emerging/middle market segment.
Notable Differentiators
- Owner-Operator Advisors: Deal decision-making handled directly by principals with significant operational background
- Confidentiality-First Approach: Emphasis on discretion and controlled marketing to protect seller interests
- Process Rigor: Institutional-quality transaction management without the overhead of large firms
- Community Embedded: Deep local relationships and reputation in Seacoast and New England
- Comprehensive Services: Beyond pure M&A advisory, offer consulting, valuation, marketing optimization
- Buyer Curation: Active management of buyer universe rather than broad-market exposure
Market Positioning
First Street positions itself between DIY business brokers (lacking sophistication) and large bulge-bracket banks (lacking focus on mid-market). The firm targets founders and owners who value a genuine partnership and institutional process without paying large firm overhead. Their testimonials emphasize professionalism, responsiveness, knowledge, and successful outcomes.