Solomon Partners Research
Advisory Approach
Solomon Partners is a leading independent investment bank with 35+ years of experience advising middle-market companies on their most significant transactions. The firm operates with a thesis centered on institutional-quality M&A advisory combined with deep industry expertise across 12+ core sectors. Solomon's positioning emphasizes that superior outcomes emerge from exhaustive market outreach, strategic buyer matching, and disciplined process management—capabilities that come from 45+ Partners and Managing Directors who have completed hundreds of transactions across their combined careers.
The firm's sweet spot is established, founder-owned and PE-backed companies with enterprise values in the $50M-$500M range seeking sell-side or recapitalization advisory. Solomon's advantage lies in its combination of sector depth (partners with 15+ years of industry experience in their respective verticals) and institutional scale (200+ bankers across multiple offices), allowing the firm to field specialized teams that understand client industries at an operational level while maintaining relationships with thousands of qualified buyers.
Sector Focus & Industry Expertise
Solomon maintains active practices across 12+ core industries, structured into three primary verticals: consumer/retail (Consumer Retail, Grocery/Pharmacy/Restaurants), industrials/distribution (Manufacturing, Distribution, Industrials, Infrastructure/Power/Renewables), and services (Business Services, Healthcare, Professional Services, Financial Institutions, Fintech). Within each vertical, the firm has developed specialized expertise through repeated transactions and sector partnerships.
Recent deal activity demonstrates particular strength in industrials and business services. The Thermogenics transaction ($165M+ enterprise value, industrial services boiler provider sold to Morgan Stanley Capital Partners) exemplifies Solomon's industrials practice—advising on a complex platform acquisition with operational complexity and multiple geographic footprint. The Cenavera Nutrition deal (school foodservice management platform acquired by Nautic Partners) shows depth in business services. The Willow Innovations/Elvie transaction (FemTech/maternal health, March 2025) represents emerging consumer healthtech expertise. Diversified deal flow across Blackstone/MacLean Power Systems (industrial manufacturing), Georgia Banking Company/Tandem Bank acquisition (financial institutions), and GSTV/MidOcean Partners (media/entertainment, digital out-of-home advertising) illustrates the firm's cross-sector reach.
Market Position & Competitive Differentiation
Solomon differentiates as an independent advisory boutique (not a diversified global bank) with institutional scale. The partnership with Natixis (51% stake acquired in 2016) provides access to international buyer networks and financing capabilities across Europe, APAC, and the Americas while preserving operational independence. The firm's 200+ banker platform allows it to staff specialized deal teams by sector, avoiding the generic "one-size-fits-all" approach of larger banks while maintaining the institutional rigor expected by PE sponsors and strategic buyers.
Key competitive strengths evident from recent activity:
- Buyer Network Depth: Relationships span PE firms (Audax, Genstar, KKR, Bain Capital, Berkshire Partners, Morgan Stanley Capital Partners, Nautic, MidOcean, Rockbridge), strategics (Blackstone, Loar Holdings, SunSource, NRG Energy), and family offices. The firm successfully matches clients with appropriate buyer types—sell-side processes to PE, strategic buyers for consolidation plays, management-led recap opportunities.
- Sector Specialization: Dedicated practice leaders in each major industry with operational background—e.g., manufacturing leaders familiar with plant economics and supply chain complexity, healthcare leaders with payer/provider network understanding.
- Global Reach Through Natixis: International transactions (e.g., LS Power sale of 13GW power portfolio to NRG Energy, January 2026) leverage Natixis' EMEA and APAC coverage.
- Process Capability: Manages complex, multi-buyer processes with structured data rooms, management presentation coaching, quality of earnings support (evidenced by deals like TriMas Aerospace, $1.45B sale to Tinicum/Blackstone minority investment).
Deal Track Record & Transaction Value
Solomon reports $1.0T+ in transaction value advised since inception. Recent closed deal activity (2025-2026) demonstrates consistent activity across a wide range of transaction sizes and buyer types:
Large Transactions (>$100M):
- LS Power portfolio sale to NRG Energy (~$12B, Jan 2026) - Infrastructure/Power
- TriMas Aerospace to Tinicum/Blackstone ($1.45B, announced Nov 2025) - Aerospace/Defense
- Rinchem capital raise and strategic combination (~$105M new money, Feb 2026) - Distribution/Chemical
Mid-Market ($50M-$250M estimated):
- Thermogenics to MSCP (~$165M+ estimated, Jun 2025) - Industrial Services
- Cenavera Nutrition to Nautic Partners (Oct 2025) - Business Services/Foodservice
- GSTV to MidOcean Partners (Apr 2025) - Media/Entertainment
- United Flow Technologies/Berkshire Partners investment (Dec 2025) - Distribution/Infrastructure
- Willow Innovations/Elvie acquisition (Mar 2025) - Consumer Healthtech
Smaller & Add-On Transactions:
- Harper Engineering to Loar Holdings (Jan 2026) - Industrials
- Vytl Controls Group to SunSource (Jan 2026) - Distribution
- Carbon Reduction Capital to Canaccord Genuity (Jan 2026) - Professional Services
- Schill Grounds Management to TruArc Partners (Jan 2026) - Business Services
The firm also advises on structured capital and restructuring, managing transactions like Pine Gate Renewables bridge financing (Feb 2026) and Rinchem liability management transaction (Feb 2026).
Team & Leadership
Solomon is led by Peter J. Solomon (Founder & Chairman) with an executive team including Marc S. Cooper (CEO), Tammy Sheffer (COO), David A. Shiffman (Head of Investment Banking), and Kenneth D. Baronoff (Vice Chairman). Shiffman, who joined as a partner in 2012, has 30+ years of investment banking experience with particular depth in consumer and retail M&A.
The firm's 45+ Partners and Managing Directors form the core advisory layer, with specialists across each sector vertical. Public team roster includes Jeff Jacobs (Head of M&A, COO of Investment Banking), Chris Moynihan (M&A Director), Eric Bormel (Director, Consumer Healthtech), and others mentioned in transaction press releases.
Advisory Process & Engagement Terms
Solomon conducts institutional sell-side processes typically including:
- Structured buyer identification (targeting strategic and financial sponsors aligned with client objectives)
- Management presentation coaching and Q&A preparation
- Quality of earnings (QofE) coordination and data room assembly
- Process management with buyer outreach and scheduled diligence sessions
- Valuation support and fairness opinion deliverables
- Transaction close management and post-close coordination
The firm also advises on recapitalizations (demonstrated by Thermogenics/MSCP minority investment structure, Guess? committee engagement, Georgia Banking/Tandem pending acquisition), capital solutions (secured and unsecured lending), and restructuring advisory.
Fee structure information is not publicly disclosed on the website, but typical investment bank fees for this scale are 1-2% on successful transactions (modeled on a modified Lehman percentage of gross transaction value).
Financial Sponsors & Buyer Network
Solomon's most recent deals show relationships with a diverse set of PE sponsors and strategic buyers:
Private Equity Partners (from recent deals):
- Audax Private Equity (Thermogenics exit)
- Berkshire Partners (UFT investment)
- Nautic Partners (Cenavera)
- MidOcean Partners (GSTV)
- Rockbridge Growth Equity (GSTV partial stake)
- Genstar Capital (referenced on website)
- KKR and Bain Capital (referenced on website)
Strategic Acquirers (from recent deals):
- Morgan Stanley Capital Partners (Thermogenics)
- Blackstone (MacLean Power, TriMas Aerospace minority)
- Loar Holdings (Harper Engineering)
- SunSource (Vytl Controls)
- NRG Energy (LS Power 13GW portfolio)
- Canaccord Genuity (Carbon Reduction Capital)
- TruArc Partners (Schill Grounds)
The firm's ability to place deals with top-tier sponsors and strategics across 2025-2026 demonstrates a robust and well-maintained buyer network.
Geographic Coverage & Operations
Solomon operates from four U.S. offices: New York (headquarters), Chicago, Miami, and Tampa. The Natixis partnership provides access to international offices in London and Frankfurt, as well as APAC presence through Natixis' regional operations. Deal activity spans U.S.-focused transactions with occasional international components (e.g., LS Power international portfolio, Harper Engineering acquisition).
Not a Fit If
Based on typical boutique investment bank positioning, Solomon is generally not a fit for:
- Sub-$50M enterprise value transactions (firm focus is mid-market and above)
- Asset sales or pure liquidations (focus is going-concern enterprise advisory)
- Clients requiring 100% earnout or seller financing structures (preference for cash or PE-backed purchases)
- Businesses requiring extensive operational turnaround before exit (sweet spot is stable, profitable platforms)
- Industries outside the 12+ core verticals without specific sector champion
Recognition & Market Perspective
Solomon was recently highlighted in Bloomberg coverage (Jan 2026) regarding David Shiffman's promotion to Head of Investment Banking, with reporting that "Solomon plans to continue 'growing and expanding'" and citing recent promotions of five employees to Managing Director, indicating strategic investment in team capacity. The firm released a 2026 M&A Outlook emphasizing that "deal activity is expected to accelerate in 2026" driven by strong equity markets and abundant capital—aligning with robust 2025 activity and positioning for continued growth.