We are thrilled to release the 2025 list of the Top 20 Independent Sponsors on Axial!

This ranking highlights the most active and successful Independent Sponsors driving transactions in the lower middle market on the Axial platform.

Independent Sponsors continue to cement their role as the most active buyer group on Axial in 2025. Year-to-date, they account for 26.8% of all closed deals on the platform, outpacing Private Equity Funds (21.1%) and every other buyer type.

Independent Sponsor Closed Deal Data | 2025 YTD

• Average Revenue: $12,207,135
• Average EBITDA: $2,184,751
• Average EBITDA Multiple: 4.74x

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Axial’s Independent Sponsor ranking is assembled based on the deal-making activities of 1,098 Independent Sponsors actively sourcing transactions via the Axial platform, and is primarily driven by three factors:

• Total Closures: Total deals closed by the firm since inception
• Axial Closures: Total closed deals sourced via Axial
• Process Effectiveness: Ability to progress to the IOI or LOI stage on deals sourced via Axial

Congratulations to the featured Independent Sponsors for their achievements!

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“Evolution Strategy Partners is a differentiated, principled private equity firm with a unique approach to conducting business.

We consider our portfolio companies as true partners, not merely investments. Evolution values and respects the people with whom we work and believes its value-added involvement is only beginning at the time a transaction closes. We stay engaged and empower company leaders to accelerate the maximum potential of their businesses.

Evolution’s primary focus is on entrepreneur-owned businesses, but we remain flexible to explore other opportunities where our knowledge and interests are aligned. We typically target industrial and commercial service businesses with under $75 million in revenue and select only a handful of new platform opportunities to pursue each year.”

Visit Evolution’s Profile