Hanna Business Advisors Research
Advisory Approach
Hanna Business Advisors operates with a distinctive model that bridges the gap between traditional business brokerage and institutional M&A advisory. As part of the Hanna Commercial Real Estate organization and ultimately owned by Howard Hanna Residential Services—one of the largest residential real estate companies in the country with over 15,000 agents operating in 12 states—the firm brings significant institutional backing while maintaining personalized service for lower middle market businesses.
The firm's thesis centers on the belief that effective business brokerage requires more than transactional facilitation; it demands deep operational understanding and comprehensive preparation. Their team of 5 advisors all have direct operating experience with small businesses and have personally acquired and/or sold businesses for their own account. This operator-to-operator perspective creates credibility with business owners and enables them to position businesses effectively for prospective buyers.
Sector Focus
Hanna Business Advisors serves diverse industries across the lower middle market, with particular depth in manufacturing, business services, retail, and consumer sectors. Their manufacturing expertise includes precision machining for aerospace and commercial markets, including ISO and AS-certified operations. In consumer products and retail, they've handled multi-location women's boutiques with decades-long profitable histories and consumer services businesses ranging from bakeries and cafes to family entertainment centers.
The firm also maintains active practices in distribution and logistics, professional services, and technology. Their Ohio base and multi-state footprint through the Howard Hanna network provide strong regional expertise, though they handle transactions nationwide. Industry diversity is a core strength—they pride themselves on crafting tailored solutions that address the unique needs of businesses across multiple sectors.
Deal Track Record
Hanna Business Advisors has been an active participant in the lower middle market since becoming an Axial member in 2023, with 2 closed transactions recorded on the platform. Their Axial profile indicates involvement in precision turned product manufacturing (closed May 2025) and food and beverage sectors (closed February 2024). Current and recent listings illustrate their deal size focus: businesses range from $180K to $2.2M in asking price, with revenue from $480K to $4.6M and EBITDA from $371K to $423K. Representative transactions include a women's boutique with 60+ years of profitable history generating $4.6M in revenue, a 20-year profitable bakery & cafe, and an aerospace/commercial machining business with ISO and AS certification.
Process & Fee Structure
Hanna Business Advisors takes a comprehensive approach to business sales, beginning with a thorough assessment of the business to identify strengths, weaknesses, opportunities, and threats. This diagnostic work enables them to create a strategy that highlights the best aspects of the business and positions it as a valuable investment. Their process encompasses financial documentation preparation, business valuation, marketing and buyer outreach, negotiation support, and closing coordination.
The firm emphasizes creating professional Offering Memorandums that present businesses in the best light, coupled with strategic digital marketing through cutting-edge listing services to maximize visibility. They maintain confidentiality throughout the process and leverage their extensive network to identify qualified buyers. While specific fee structures are not publicly disclosed, their positioning in the lower middle market suggests success fees likely align with industry standards for sub-$20M transactions, potentially in the 8-12% range for smaller deals and scaling down for larger transactions.
Buyer Network
Backed by the broad resources of Howard Hanna Real Estate Services and Hanna Commercial Real Estate, Hanna Business Advisors maintains an extensive network and robust database of buyers and sellers spanning Ohio and beyond. The Howard Hanna/Hanna Commercial platforms provide immediate visibility and opportunities for clients. Their multi-state footprint (15 states) and 12-state residential network with 15,000 agents create a unique sourcing advantage—residential agents often refer commercial business owners considering transitions.
While specific PE firm relationships are not publicly detailed, their Axial membership provides access to sophisticated lower middle market buyers including search funds, independent sponsors, and smaller private equity groups. Their deal history and sector focus suggest connections with strategic buyers in manufacturing, distribution, and consumer products.
Competitive Positioning
Hanna Business Advisors differentiates through several key advantages:
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Institutional backing with local expertise—part of Howard Hanna, one of the largest real estate companies in the country, providing resources and credibility that standalone brokers cannot match.
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Operator experience—all 5 advisors have owned, operated, bought, or sold businesses themselves, creating genuine credibility with seller-founders.
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Multi-platform visibility—leveraging both Hanna Commercial's extensive network and modern digital listing services for maximum buyer reach.
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Comprehensive preparation—emphasis on thorough business assessment and professional Offering Memorandums that position businesses effectively.
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Regional strength with national capability—deep Ohio roots with ability to handle transactions across 15 states.
Not a Fit If
Hanna Business Advisors is likely not the ideal choice for:
- Businesses above $20M in enterprise value (their focus is lower middle market)
- Founders seeking limited buyer outreach or confidential, off-market processes to a small number of buyers
- Businesses requiring complex institutional deal structures (e.g., management buyouts, recapitalizations with multiple investor classes)
- Companies in industries where the team lacks sector expertise (though their diverse experience covers many lower middle market sectors)
Team
The Hanna Business Advisors team consists of 5 professionals with extensive operating and transaction experience:
Jim Myers—Vice President and Team Lead. With 16 years of banking experience and hands-on involvement in buying and selling businesses, Jim has a deep understanding of scaling and maximizing value. He has presented at the Weatherhead School of Management's ETA Symposium and operates with a leadership philosophy driven by faith, family, and passion for helping businesses thrive. Contact: JimMyers@HannaBB.com, 216-314-6159.
Mac Biggar—Business Advisor. Member of the Northern Ohio Business Brokers Association (NOBBA) and specialist in lower middle market transactions. Based in Pepper Pike, OH. Contact: macbiggar@hannacre.com, 216-839-2020.
Dennis Dunn—Business Advisor. Focuses on business brokerage and advisory services with particular expertise in retail and consumer sectors. Contact: DennisDunn@HannaBB.com, 440-554-6833.
Jay Foran—Business Advisor. Active team member involved in machinery, equipment, and manufacturing transactions.
Sean-Tamba Matthew—Vice President. Also serves as Shareholder at Stevens & Lee ESOP Advisors, bringing expertise in ESOP transactions and employee ownership transitions.
Geographic Coverage
Primarily Ohio-based with operations in Solon and Pepper Pike, but with capability across 15 states through the Howard Hanna/Hanna Commercial network. Core markets include Ohio (Cleveland, Akron-Canton, Central Ohio), Pennsylvania (Pittsburgh, Lehigh Valley), New York (Buffalo, Capital Region, Central NY), Michigan, North Carolina, and other states in the Howard Hanna footprint.