ProNova Partners is a lower middle market mergers and acquisitions advisory firm serving business owners looking to buy, sell, or grow their companies.
Based in California, the firm describes itself as "Proactive Innovative Growth Partners," which is the origin of its name.
Their approach focuses on assigning experienced advisors with industry-specific knowledge, guiding clients through the transaction process, and working to maximize outcomes at closing.
Key Takeaways
- ProNova Partners specializes in lower middle market M&A advisory, serving businesses of varying sizes from sub-$2 million enterprise value all the way through large multi-million dollar transactions.
- The firm offers a unique growth strategy called the Mini-PEG Advisory, designed to help small to medium-sized businesses reach a $25 to $100+ million exit in five years or less.
- Clients receive 24/7 advisor access, strict confidentiality throughout the process, and industry-matched advisors who understand the nuances of their specific sector.
Who ProNova Partners Works With
ProNova Partners serves a wide range of clients on both sides of the deal table.
Sellers looking to exit, strategic acquirers seeking new targets, private equity groups, family offices, and fully funded search funds all fall within their client base.
The firm also works with entrepreneurs who want to grow aggressively through acquisitions rather than organically, and with companies that simply want to understand what they're worth before making any decisions.
Their industry coverage is broad. A look at their active engagements shows listings across more than 100 categories, including:
| Industry Category | Active Listings (approx.) |
|---|---|
| Computer & Technology | 136 |
| Miscellaneous Businesses | 142 |
| Financial Services | 95 |
| Insurance Businesses & Agencies | 78 |
| General Service | 57 |
| Manufacturing | 43 |
| Building & Construction | 36 |
| Wholesale Distribution | 16 |
| Trucking | 20 |
| Healthcare | 12 |
The geographic reach is genuinely wide. Active listings span cities across the United States plus international locations including Bangkok, London, Montreal, Cape Town, and Toronto.
Services Offered
ProNova Partners structures its offering around eight distinct service lines. Each one is designed to address a different point in the business lifecycle.
Sell-Side Advisory handles the full process for owners who want to exit. The firm takes a consultative approach to find the right buyer and structure the deal in the most tax-efficient way possible.
Buy-Side Advisory targets acquirers: strategic buyers, PE groups, family offices, and funded search funds. The team works to identify acquisition targets that match what the buyer is actually looking for, whether that's EBITDA, IP, talent, or horizontal expansion.
Mini-PEG Advisory is the most distinctive offering on the list.
ProNova developed this model specifically for entrepreneurs who want to grow fast through a series of acquisitions, typically five to ten companies within five years.
The goal is to reach the scale needed to command much higher EBITDA multiples than organic growth would produce, targeting a $25 million to $100+ million exit.
Strategic Advisory covers situations where a business owner isn't sure yet what they want to do. Sell, merge, raise capital, or acquire the firm maps out options based on both business and personal factors.
Exit Plan Advisory focuses on preparation. ProNova will review a company before it goes to market, identify weaknesses that could reduce the sale price, and give owners a roadmap to hit their target valuation.
The firm's position is that businesses that fix those issues ahead of time close at higher multiples.
Technology & IP Advisory extends services to tech companies and even pre-revenue startups.
The firm can assign value to an idea, product, or codebase, then recommend whether a sale, capital infusion, or strategic partnership makes the most sense.
Capital Markets connects clients to a proprietary database of institutional and individual funders globally, with a focus on speed and cost-effectiveness.
Business Brokerage covers smaller transactions (sub-$2 million enterprise value) and provides the same full-service approach regardless of deal size.
How ProNova Differentiates Itself
A few things stand out when reviewing how ProNova positions itself compared to a generalist business broker.
The industry-matching model is one of them. Rather than assigning whoever is available, ProNova says it pairs each client with a partner who has direct experience in that industry and, as they put it, "speaks your language."
For a seller in a specialized niche medical devices, insurance, or SaaS, for example working with someone who already understands the business model and the buyer landscape can shorten the process considerably.
The 24/7 client access policy is another. Most professional service firms are not reachable around the clock, and for a business owner navigating a sale, deal anxiety doesn't stop at 5 PM. ProNova makes this a stated commitment.
Confidentiality is treated as a non-negotiable. Business sales are sensitive: employees, customers, and competitors don't need to know a company is on the market until a deal closes.
ProNova maintains confidentiality from the first consultation through closing.
The Mini-PEG program sets the firm apart from most brokers in the lower middle market. Most firms in this space focus on single transactions.
Building a model around serial acquisitions for growth-oriented entrepreneurs requires a different skill set and a longer relationship than a typical sell-side engagement.
Client Feedback
Testimonials on the ProNova site offer a few concrete data points. Thad Gerber, President of Velocity Network Solutions, described the sale of his business as "an emotional roller coaster" and credited Rick Carlson's experience for getting the deal closed.
Kyle Miller, VP of Business Development at Acrisure, specifically called out Carlson's knowledge of the insurance industry as a factor in successfully closing multiple agency acquisitions.
Joseph Totah, President of Strategic Agencies, credited the firm with "bringing key players to the plate" in insurance agency deals.
Greg Mishkin, owner of Pacific Crest Santa Barbara Hotel, described his experience as working with someone who was honest and genuinely invested in the transaction going well.
The pattern across these reviews is consistent: clients who've worked with Rick Carlson directly mention industry knowledge, patience, and reliability as the differentiating factors.
Things to Consider
No review is complete without noting what prospective clients should think through before engaging.
- The firm's active listings skew heavily toward technology, financial services, and insurance. If your business is in a less common sector, it's worth asking up front how many similar deals the specific advisor assigned to you has closed.
- Pricing for advisory services is not listed on the website. Standard M&A advisory fees in this market typically run between 5% and 10% of deal value for sell-side engagements, but that varies. Requesting a clear fee structure early is a reasonable step.
- The Mini-PEG program requires a genuine commitment to an aggressive acquisition strategy. It's a five-year plan built around executing multiple deals. Business owners who want a clean single exit should be looking at the sell-side advisory service, not this one.
Conclusion
ProNova Partners is a credible lower middle market advisory firm with a broad service menu, genuine industry depth, and a distinct growth strategy in the Mini-PEG model that sets it apart from standard business brokers.
Owners considering a sale, acquisition, or accelerated growth path would benefit from at least taking the firm up on their free consultation offer before making a decision.