Franklin Partners Research
Advisory Approach & Positioning
Franklin Partners is a preeminent merger and acquisition advisory firm specializing in private company sell-side transactions in the lower-middle market. For 25 years, the firm has built a reputation for expertise across diverse industries with a founder-led team that brings deep operational and transactional experience. The founding partners—Chip Myers (formerly CFO of a NASDAQ company and CEO of a manufacturing firm) and Joel Fischer (veteran lender and board director)—have collectively sat on all sides of the deal table as operators, directors, lenders, and bankers. This cross-functional experience informs their core thesis: that successful outcomes for sellers come from exhaustive buyer outreach combined with rigorous process management and thorough client preparation.
Franklin Partners explicitly targets business owners and management teams in the lower-middle market who are preparing their companies for sale. They recognize that LMM founders and their teams are typically not prepared for the sophistication and rigor of institutional sale processes involving professional buyers and their advisors. The firm positions itself as a shoulder-to-shoulder advisor that educates, prepares, and coaches clients through every phase of the transaction.
Sector Focus & Industry Expertise
Franklin Partners maintains an intentionally diversified practice across multiple industries, with particular depth in several verticals:
Manufacturing & Industrial: The firm has extensive experience with niche, specialty manufacturing companies—precision tooling for can-making (Pride Engineering), packaging systems for dairy (Edmeyer Inc.), decorative finishes for construction (Custom Rock Formliner), test fixtures for electronics (Circuit Check), and technical materials conversion (Trient Technologies). These companies typically combine proprietary product design with engineering expertise and serve specific OEM markets. Franklin Partners understands the valuation complexities of capital-light, high-margin manufacturing businesses.
Healthcare Products: With 10+ medical device and healthcare manufacturing transactions, Franklin Partners has developed deep expertise in this sector. Deals include catheter manufacturers (Via Biomedical, CarTika Medical, Emerald Medical), surgical tools (Inlet Medical), microcoil manufacturing (Vadnais Technologies), and medical component suppliers. These companies range from contract manufacturers to branded device designers and typically exit to larger medical device OEMs, strategic consolidators, or PE-backed platform companies.
Industrial Services: The firm advises industrial and commercial service providers—turbine repair services (Trico TCWind), semiconductor support services (Pentagon Technologies), coating applicators (Electrochem Solutions), and construction/energy contractors. These are operation-intensive service businesses that often benefit from consolidated platforms and strategic buyer networks.
Direct-to-Consumer & Ecommerce: Franklin Partners has advised multiple consumer-facing ecommerce and enthusiast businesses including aquarium supplies (Bulk Reef Supply), agricultural parts (All States Ag Parts), and specialty equipment (APQS quilting machines, DecksDirect). The firm demonstrates skill in developing investment theses for niche market leaders with strong customer acquisition and retention metrics.
Technology & SaaS: The firm works with software and technology companies serving business-to-business and niche consumer markets, including CRM platform integrators (PowerObjects acquired by HCL), logistics SaaS (Inter-Tax), energy efficiency software (The Weidt Group), and bankruptcy/business intelligence databases.
Deal Track Record & Transaction History
Franklin Partners has completed 50+ documented transactions spanning 25 years, representing diverse deal sizes, buyer types, and industries. Recent notable transactions include:
- Grace Media → BridgeTower Media (September 2025) — Media/publishing acquisition
- Craft Pattern and Mold → Le Sueur Incorporated (February 2024) — Metal prototyping/manufacturing
- APQS → LFM Capital (February 2023) — Direct-to-consumer machinery sale to financial sponsor
- FourCubed → SharpLink Gaming/NASDAQ (March 2022) — Affiliate marketing exit
- DecksDirect.com → Harbour Group (February 2022) — Ecommerce acquisition
- Bulk Reef Supply → Bertram Capital (March 2021) — Strategic acquisition of consumer ecommerce
- Electrochem Solutions → Pioneer Metal Finishing (March 2021) — Buyer consolidation
- Trico TCWind → The Riverside Companies (Integrated Power Services) (date N/A) — Industrial services consolidation
Older transactions show consistent deal-making across manufacturing (Smith System to Steelcase), medical devices (10+ healthcare transactions), and industrial services. The firm's advisory role spans exclusive sell-side mandates and has demonstrated ability to attract competitive buyer interest across geographic regions and buyer types (PE firms, strategics, family offices, management buyers).
Process & Client Approach
Franklin Partners runs institutional-quality sell-side processes even for lower-middle market transactions. The firm's methodology includes:
Client Preparation: Franklin Partners invests significant time in preparing ownership and management teams for the rigors of a professional sale process. This includes financial statement analysis, business documentation, data room preparation, and management presentation coaching. The firm collects and organizes information to substantiate market opportunities and differentiating attributes.
Buyer Outreach & Marketing: Rather than relying on "usual suspects" (large corporate competitors and generalist PE firms), Franklin Partners conducts extensive buyer identification and outreach. The firm leverages a contact network spanning thousands of potential buyers—strategic acquirers, PE firms, family offices, and consolidators across vertical markets. The firm demonstrates particular skill in identifying non-obvious buyers who appreciate niche market leaders and growth businesses.
Process Management: The firm manages competitive processes with structured bid management, buyer diligence coordination, and negotiation. Based on their transaction history, Franklin Partners has successfully run processes that result in premium outcomes and multiple buyer competition.
Advisory Continuity: The firm maintains relationships through close to ensure smooth integration and provide post-close value (as evidenced by Trico TCWind's owner continuing to lead the company post-acquisition).
Fee Structure & Engagement Terms
While explicit fee information is not published on the website, based on industry norms for LMM advisory and the firm's positioning, Franklin Partners likely employs a modified Lehman fee structure (common among boutique advisors in this space). The firm may also use tiered success fees or negotiated terms based on deal complexity. Engagement requirements likely include exclusivity and may involve monthly retainers (typical range $5K-$20K/month, credited against success fees).
Buyer Network & Transaction Distribution
Franklin Partners' transaction history reveals strong relationships across multiple buyer categories:
Private Equity / Financial Sponsors: Approximately 30-35 transactions appear to involve PE buyers or financial sponsors including Riverside Companies, Genstar-adjacent buyers, May River Capital, Bertram Capital, Kinderhook Industries, LFM Capital, Tonka Bay Equity Partners, Cardinal Equity Partners, and Pfingsten Partners. This represents the largest buyer category.
Strategic Acquirers: Strong relationships with strategic buyers including Steelcase (public), Ceridian (public), Prosegur (Spain-based), HCL Technologies (India), and numerous specialized consolidators in medical devices, industrial services, and manufacturing.
Consolidation Platforms: Multiple transactions show exits to PE-backed consolidation platforms (e.g., Trico TCWind to Riverside Companies' Industrial Services division, Emerald Medical to IntriCon).
Management & Investor Groups: Several transactions resulted in management buyouts or sales to investment groups (e.g., Lakehead Constructors, The Gold Center).
Competitive Positioning & Differentiation
Franklin Partners differentiates from other LMM banks and boutiques through:
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Operational Credibility: Founders with CEO/CFO operational experience and board exposure, giving them credibility with business owners contemplating major life transitions.
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Diverse Industry Expertise: Rather than specializing in a single vertical, the firm has broad access to buyer networks across manufacturing, healthcare, technology, and services sectors. This creates flexibility and reduces dependence on any single buyer category.
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Founder-Led: The firm remains led by its founders (Chip Myers and Joel Fischer), ensuring senior-level involvement and consistent philosophy.
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Process Discipline: The firm applies institutional-grade process rigor to lower-middle market transactions—something not all LMM advisors deliver consistently.
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Niche Market Understanding: The firm demonstrates skill in identifying and articulating the investment thesis for niche market leaders (ecommerce platforms, specialty manufacturers, industrial services) that may be undervalued by generalist buyers.
Not a Fit If
Based on their positioning and transaction history, Franklin Partners likely declines or is not ideally suited for:
- Business owners unwilling to prepare thoroughly for a sale process
- Transactions with significant contingent liabilities or pending litigation
- Pure asset sales or distressed situations
- Businesses primarily seeking to maximize speed over valuation (Franklin Partners' value is in exhaustive process management)
- Companies outside their core geography (primarily US-focused, with Midwest strength)
Team
Franklin Partners is led by two principal partners with complementary backgrounds:
Burton F. Myers II ("Chip") — Founder & Managing Partner. Chip founded Franklin Partners and brings operational business experience. Prior to founding the firm, he led a private manufacturing company with a direct-to-consumer model and managed through significant operational challenges. He served as Chief Financial Officer of a NASDAQ-listed public company, and after business school, was part of the acquisition team at a multinational NYSE corporation (Owens Illinois, Inc.). He has served on boards of public companies, private companies, and non-profit organizations. Chip is a graduate of Grinnell College and the Booth School of Business at the University of Chicago (MBA).
Joel R. Fischer — Managing Partner. Joel joined Franklin Partners in 2011 and brings 20+ years of investment banking and commercial lending experience. Prior to Franklin Partners, Joel was a syndicate lender where he underwrote, serviced, and restructured complex commercial loans in hospitality, Native American gaming, senior housing, and commercial real estate development. He understands business transitions firsthand, having served on the board of his family's multigenerational business through its eventual sale. Joel is a graduate of Gustavus Adolphus College and holds an MBA from the University of Minnesota's Carlson School of Management.
The firm also leverages an extensive network of industry-specific experts, fractional CFOs, and specialists in digital marketing, technology assessment, operations, and market research to support client preparation.
Geographic Coverage
Franklin Partners is headquartered in Minneapolis and maintains a US-focused practice. The transaction history suggests particular strength in the Midwest (Minnesota, Illinois, Michigan) while the firm demonstrates national reach, with deals involving buyers and sellers across the United States.
Size & Scale
The firm operates as a boutique with a lean core team (2-3 principals) supported by a broader network of specialists. This structure is typical for high-touch, relationship-driven LMM advisory. Franklin Partners is estimated to be in the 10-30 professional range (including support staff), though exact team size is not disclosed.
Market Recognition
Franklin Partners has been recognized in Axial's Top 5 Lower Middle Market Investment Banking League Tables (Q2 2024), indicating significant deal-making activity and peer recognition in the boutique M&A space.