Morgan Business Sales Research
Advisory Approach
Morgan Business Sales is Australia's leading specialist business broking group, focusing exclusively on the Australian mid-market since 1996. The firm operates with a distinctive philosophy: they combine world-leading technology, innovative marketing, local expertise, and a national network to achieve maximum value for every transaction while maintaining complete confidentiality. Unlike traditional investment banks, Morgan Business Sales operates as business brokers—more closely analogous to real estate agents for businesses rather than corporate finance advisors.
Their core thesis centers on being "values-first" in everything they do, prioritizing accountability, honesty, positivity, grit, teamwork, and putting people before financial success. This approach differentiates them in the Australian market where they've facilitated over 1,000 business sales since inception.
The firm's sweet spot is mid-market business sales ranging from $2M to $200M in enterprise value, though many of their publicly trackable transactions fall in the $2M-$15M range. They've established themselves as the dominant business brokerage firm in Australia with particular strength in Queensland, New South Wales, Victoria, and Western Australia.
A key differentiator is their exclusive rights to CIM-PRO, a world-leading digital platform for web-based Confidential Information Memorandums with embedded videos, photo galleries, maps, and tiered access levels. This technology-first approach, combined with their proprietary buyer database of 30,000+ qualified buyers, enables them to achieve faster closes and better outcomes than traditional brokers.
Sector Focus
Morgan Business Sales maintains broad industry coverage across the Australian economy. Their primary focus areas include:
Manufacturing & Industrial: Precision machining, cabinet making, powder coating, metal fabrication, and general manufacturing. They've sold numerous manufacturing businesses including precision machining companies, industrial coating businesses, and contract manufacturers.
Construction & Engineering: Civil infrastructure, road works, bridge works, earthworks, fire protection services, electrical services, and building materials supply. Their portfolio includes significant transactions in civil infrastructure and construction services.
Healthcare & Human Services: NDIS providers, aged care facilities, psychology practices, and healthcare specialists. They've developed particular expertise in NDIS and healthcare roll-ups, with private equity-backed acquirers actively seeking regional providers to build national scale.
Distribution & Logistics: Freight forwarding, 3PL services, wholesale distribution, import/export businesses, and logistics providers. Their sold businesses log shows multiple successful logistics and freight forwarding transactions.
Business & Professional Services: Recruitment agencies, consulting firms, education businesses, and professional services. They've handled fully-managed specialist recruitment agencies and education businesses under management.
Retail & E-commerce: E-commerce businesses, retail operations, and consumer-facing businesses. Their track record includes profitable e-commerce businesses with exclusive products.
Deal Track Record
Morgan Business Sales has completed over 1,000 transactions since 1996, making them one of Australia's most prolific mid-market business brokers. Their publicly disclosed transactions span diverse industries:
Notable Recent Transactions (2024-2025):
- Pop-Up Health ($25M revenue NDIS provider) to Lumia Care (private equity-backed healthcare group)—84 days on market
- Cabinet Making Business in QLD ($5M revenue, $1M+ EBITDA)—96 days on market
- Engineering Consulting Firm ($14.7M revenue, $3.7M EBITDA)—sold for $12.46M
- B2B Importer & Wholesaler ($12.3M revenue, $3.6M profit)—sold for $5.8M
- Civil Infrastructure & Road Works Business ($30.7M revenue, $3M profit)—sold for $3.5M
- Material Supplier to Civil Infrastructure ($25.2M revenue, $2.5M profit)—sold for $9.5M
- Construction Services (Gold Coast, $7.8M revenue, $2.4M profit)—sold for $5M
- Managed NDIS Provider WA ($13.2M revenue, $2.2M profit)—sold for $3.6M
- Freight Forwarding & 3PL ($10.5M revenue, $2M profit)—sold for $6.68M
- Meat Retail Business SEQ ($13.1M revenue, $1.86M EBITDA)—sold for $10.38M
- Industrial Manufacturing Business Western Sydney ($5.4M revenue, $1.7M profit)—sold for $5.3M
The firm maintains a database of 30,000+ qualified buyers and publishes monthly market research reports analyzing M&A activity across sectors including Food & Beverage Manufacturing, Industrial Products, Facilities Management, Renewable Energy, Professional Services, Construction & Building Services, and Technology & IT.
Process & Fee Structure
Morgan Business Sales employs a structured sell-side process:
Phase 1—Valuation & Preparation: Business appraisal using three years' financials with targeted adjustments to Future Maintainable Earnings. Non-recurring costs are substantiated and excluded. Strategic advice may include extending operations to capture improved profitability before going to market.
Phase 2—Marketing: CIM-PRO platform for secure, web-based CIM with virtual data room. Digital marketing suite including email campaigns, social media, and targeted online advertising. Listings published to Australia's major business-for-sale directories (Seek Business, Commercial Real Estate, Bsale). Strict confidentiality maintained with anonymous listings and confidentiality agreements.
Phase 3—Buyer Outreach: Leveraging proprietary buyer database and subscription-based external databases. Week 1 involves private walkthroughs with select high-net-worth individuals for market testing. Week 2 launches EOI campaign targeting strategic buyers and PE-backed groups.
Phase 4—Negotiation & Due Diligence: Templated offer documents to expedite clean, competitive bids. Digital data room for centralised communication and document exchange. Management of multiple simultaneous offers with strict confidentiality protocols.
Fee Structure:
- Retainer: $3,000-$6,000/month (credited against success fee)
- Success Fee: 5-10% of final sales price (varies by transaction size and complexity)
- Upfront Listing Fee: Not explicitly disclosed but referenced as "one small upfront fee"
The firm positions their fees as "cost positive"—they claim to get owners more money in their pocket even with their fees than if owners had represented themselves, citing their ability to attract more buyers and negotiate higher prices.
Buyer Network
Morgan Business Sales maintains a proprietary database of 30,000+ qualified buyers. Their buyer network includes:
Private Equity & Roll-Up Acquirers: Active in healthcare (NDIS, aged care), manufacturing, and business services roll-ups. The Lumia Care acquisition of Pop-Up Health exemplifies their PE relationships.
Strategic Buyers: Industry consolidators, complementary businesses seeking horizontal integration, and international buyers entering the Australian market. The cabinet making business sale to a complementary strategic buyer demonstrates this capability.
High-Net-Worth Individuals: Investor-buyers seeking cash-flow-positive businesses with management teams in place. The engineering consulting firm sale illustrates this buyer type.
International Buyers: Leveraging CIM-PRO's language and currency converters for international enquiries, particularly from Asia-Pacific regions.
Competitive Positioning
Morgan Business Sales differentiates through:
- Technology Leadership: Exclusive CIM-PRO platform with interactive CIMs, virtual data rooms, and real-time buyer tracking
- National Scale: 30+ brokers across 15+ Australian offices with 100+ years combined experience
- Values-First Approach: Accountability, honesty, and transparency in all dealings
- Track Record: Over 1,000 successful transactions since 1996
- Buyer Database: 30,000+ qualified buyers with sophisticated targeting and scoring
- Market Research: Regular sector-specific M&A reports establishing thought leadership
- Transparent Fees: No ongoing retainer fees beyond the initial period—success fees only
Not a Fit If
Morgan Business Sales typically declines:
- Businesses below $2M TEV (their stated minimum)
- Businesses outside Australia
- Pure asset sales without going-concern operations
- Businesses requiring extensive turnaround before sale
- Founders wanting limited process or unwilling to prepare comprehensive documentation
Team
The firm has 30+ brokers across Australia. Key leadership includes:
Dru Morgan—Director & Licensee: 25+ years in business broking, founded the firm in 1996
Brendan Morgan—Business Sales | QLD: Managed the cabinet making business sale, specialist in Queensland market
Nikki Katz—Business Sales | SA: Award-winning broker (numerous industry awards), managed the Pop-Up Health sale to Lumia Care. Described by clients as "an absolute skilled professional" with honesty, sincerity, and tenacity
Additional Team Members: Glenn Prunster (WA), Belinda Packer (QLD), Rod & Deb Jessen (QLD), Rick Di Mecola (NSW), Mick Hase (NSW), Steve Blaby (QLD), Trevor Wantenaar (VIC), Steven Rossi (VIC), Alan Kanuk (NSW), Ben Forrest (QLD), Douglas McDonald (NSW), Michael Vitullo (NSW), Sean Wolrige (NSW), Brett Goodyer (NSW), Amanda Goodyer (NSW), Heath Nicholson (NSW), Michael Quinn (Exit Advisor), Cameron Ryan (VIC), Shweta Sharma (VIC), Kat Little (TAS), Craig Katz (SA), Patrick Richardson (QLD), Jason Klose (ACT), Nouha Mohtadi (VIC), Michelle Wright (QLD), Chris Herbert (Exit Advisor), Hayley Johnston (Senior Administration), Bree Turner (Marketing), Ron van den Boogaard (Marketing & Analytics), Jade Lutton (Sales & Operations Manager), Natalie Mendel (Administration)
Geographic Coverage
Morgan Business Sales operates exclusively in Australia with 15+ offices across all major states:
New South Wales: Sydney (Parramatta), Newcastle, Northern NSW (Banora Point), Coffs Harbour Victoria: Melbourne (Brighton) Queensland: Brisbane (Milton), Gold Coast (Varsity Lakes), Sunshine Coast (Sippy Downs), Central QLD (Allenstown), Mackay South Australia: Adelaide Western Australia: Perth (Welshpool) Tasmania: Hobart Australian Capital Territory: Canberra (Phillip)
IMPORTANT NOTE: This is an Australian business brokerage firm, not a US-based investment bank. They serve the Australian mid-market and are not FINRA-registered (not applicable for Australian business brokers). They operate under Australian state government real estate legislation, not US securities regulations.