Tennessee Business Brokers & M&A Advisors Research
Advisory Approach
Tennessee Business Brokers & M&A Advisors (TBB) is a privately-owned boutique business brokerage and M&A advisory firm serving the lower middle market throughout Tennessee and surrounding states. Founded on the principle of client-centered, results-driven representation, the firm distinguishes itself through a unique "pay for performance" model—charging no upfront fees, retainers, or monthly costs. The firm only earns compensation upon successful transaction closing, aligning their incentives entirely with client outcomes.
The firm operates with a thesis that successful business exits require exhaustive buyer outreach combined with disciplined process management and absolute confidentiality. Their sweet spot spans Main Street businesses valued at $500K through lower middle market companies up to $25M in transaction value. TBB brings particular strength to family-owned and founder-led businesses where the transition represents both a financial and emotional milestone for the seller.
Sector Focus
Tennessee Business Brokers maintains broad industry expertise with particular depth in manufacturing, healthcare services, business services, and retail/eCommerce. Within manufacturing, the team has experience with precision machining, metal fabrication, and contract manufacturing—evidenced by client work with metal manufacturing partners and industrial companies. The healthcare practice covers medical services, physician practices, and healthcare-related businesses.
The firm also maintains active practices in construction and engineering, distribution and logistics, food and beverage, and commercial real estate. Their team includes professionals with hands-on operating experience across these sectors, enabling them to speak authoritatively with buyers about operational nuances and growth potential.
Deal Track Record
Tennessee Business Brokers has completed transactions across multiple industries since its founding. While the firm maintains client confidentiality and does not publicly disclose most deals, their Axial membership (since 2019) shows two closed transactions on that platform: a retail/acquisition deal closed in January 2024 and a confidential industrial/manufacturing acquisition closed in October 2020. The firm also maintains active listings on BizBuySell and BizQuest, indicating ongoing deal flow in the Main Street to lower middle market segment.
Client testimonials reference successful sales in metal manufacturing, pet care and boarding, restaurant/food service, and various other sectors. The firm's "largest group of brokers in four mid-south states" claim suggests significant transaction volume, though specific aggregate deal counts are not publicly disclosed.
Process & Fee Structure
TBB employs a disciplined four-phase process:
Valuation: Comprehensive market-based pricing using multiple assessment tools and the collective knowledge of their large broker team to determine most probable selling price range.
Marketing: Creation of confidential marketing materials and multi-channel campaigns including strategic marketing, internet listings, online multiple listing services, direct mail, consumer/trade advertising, and outreach to their extensive database of buyers and investor groups. All marketing masks business identity to protect confidentiality.
Screening & Qualifying: All prospective buyers sign non-disclosure agreements and complete personal financial statements before receiving any confidential information. TBB manages buyer expectations throughout and only shares information as buyer interest level rises.
Negotiating & Closing: Seasoned intermediaries facilitate buyer/seller meetings with goals of "win-win" outcomes, working alongside client attorneys, CPAs, and bankers through due diligence and closing.
Fee Structure: Unlike most M&A intermediaries, TBB charges NO retainer, upfront fees, or monthly costs. Their model is strictly success-based—compensation is earned only upon successful closing. This removes financial risk for business owners considering a sale.
Buyer Network
Tennessee Business Brokers maintains extensive buyer networks spanning local, national, and international markets. Their buyer database includes individuals, companies, and investor groups actively seeking business acquisitions. The firm is affiliated with multiple real estate groups and works closely with other business brokerage firms to maximize lead generation for client opportunities.
Their centers of influence include CPA firms, private equity groups, private investors, strategic corporate buyers, banks, attorneys, exit planners, and professional consultants. The team's decades of corporate experience and community involvement provide deep networking resources both locally and globally.
Competitive Positioning
Tennessee Business Brokers differentiates through:
- Pure Success-Only Compensation: No retainers or upfront fees—unusual in the M&A advisory space
- Deep Regional Roots: Franklin/Nashville-based with extensive Tennessee and mid-South market knowledge
- Large Team Scale: Claims largest broker group across four mid-south states, enabling collaborative expertise
- Corporate-Grade Discipline: Brings Wall Street investment banking rigor to Main Street and lower middle market transactions
- Commercial Real Estate Integration: In-house capability to handle real estate alongside business sales, common for owner-occupied properties
Not a Fit If
Tennessee Business Brokers typically declines:
- Businesses seeking limited process or partial auctions (their value is in comprehensive outreach)
- Transactions outside their geography (Tennessee and adjacent states)
- Purely real estate transactions without business operations
- Businesses with significant pending litigation or operational crises
Team
The firm is led by Managing Director Karen Schorkopf, a Certified Business Intermediary with 38+ years of experience spanning Wall Street investment banking and Main Street business brokerage. Schorkopf holds a BS in Economics from Duke University and completed the Commercial Finance and Corporate Analysis Program at NYU Stern. She has advanced training through IBBA's Certified Business Intermediary program and M&A Source's Mergers and Acquisition Master Intermediary program.
Key team members include:
- Jim Shaub, Senior M&A Advisor with 35+ years experience across business ownership, banking, and private capital sourcing
- David Newell, Senior M&A Advisor with 40+ years in commercial and investment banking, including leadership roles at Union Planters Bank and Healthcare Financial Partners
- Tracy Scrima, Business Broker with 15+ years in entrepreneurship and business development
- Paul Schorkopf, 30+ years in financial markets including NYSE specialist experience
Geographic Coverage
Primary focus: Tennessee with emphasis on Nashville/Franklin market. Also serves Kentucky, Alabama, Mississippi, and Missouri. Corporate offices in Franklin, TN with team members serving broader mid-South region.