Intermountain Northwest  ·  Lower Middle Market M&A

The advisor you choose
changes the outcome.

Sage is a boutique M&A advisory firm serving owners and leadership teams of lower middle market businesses. Senior-led expertise and disciplined process on every engagement, from first conversation through close.

Get in Touch Our Approach  →
$205M+
Closed Transaction Value
$5–50M
Transaction Range
30+
Years Combined Experience
100%
Senior-Led Engagements
Who We Are

MT/ND roots.
National reach.

Sage is a boutique M&A advisory firm serving owners and leadership teams of lower middle market businesses. We bring disciplined, outcome-driven guidance through every phase of a transaction, from preparation through close.

Our principals have deep roots in Montana and North Dakota, with direct experience advising middle market business owners across both states. That regional knowledge, combined with a national buyer network, means our clients get local perspective without sacrificing reach.

We work with a focused roster of clients at any given time. That selectivity is how we ensure every engagement receives the senior attention and rigorous execution it demands.

"The strongest outcomes are determined long before buyer and seller connections begin."

The Intermountain Northwest shaped us: the work ethic, the directness, the commitment to doing things the right way. We bring that standard to every engagement, wherever it takes us.

We take on the roughly 1,000 hours a successful transaction requires so our clients can stay focused on running their business.

What We Do

Advisory built for
every stage of a transaction.

01
M&A Advisory

We design and execute sale processes that create competition, protect confidentiality, and maximize value. The right buyer, the right structure, the best outcome, not the fastest close.

02
Buy-Side Advisory

We help buyers pursue acquisitions with clarity and discipline, identifying the right targets, managing risk, and negotiating from a position of strength.

03
Exit & Value Creation

Not every business is ready to sell today. We provide long-term advisory that strengthens performance, addresses risk, and positions owners for the outcome they want, on their timeline.

The Team

Senior advisors on
every engagement.

We deploy our full team on every transaction: senior-level expertise and accountability from start to close, with no junior hand-offs.

Scott Lester
Scott Lester
President
MBA  ·  CBI  ·  CM&AA

Scott has led over $200M in lower middle market transactions using a confidential auction process proven to maximize value. He holds the industry's two highest M&A designations and brings hands-on dealmaking experience to every engagement.

Chad Dailey
Chad Dailey
Vice President
MBA

Chad brings sharp financial and transaction acumen to every client engagement, supporting deal execution from initial analysis through close. He leads buyer research, financial modeling, and process management on each transaction.

Bob Heffner
Bob Heffner
Senior Advisor
CBI  ·  CM&AA  ·  CExP

Bob's background spans business ownership, economic development at the Montana Department of Commerce, and 14 years financing acquisitions for national lenders. He is a Certified M&A Advisor and Certified Business Intermediary.

Bodhi Tripathi
Bodhi Tripathi
Director
 

Bodhi brings buy-side deal experience across real estate and business acquisitions, with a sharp eye for contract negotiation and due diligence. He leads financial modeling and transaction analysis for every Sage engagement.

Tanny Plemmons
Tanny Plemmons
Executive Assistant
 

Tanny has been the operational backbone of the firm since 2009, managing data rooms, tracking buyer responses, and keeping every engagement on schedule. She is involved in nearly every aspect of every transaction.

Our Process

Disciplined process.
Uncompromised execution.

Most advisors go to market too early. We don't. The preparation we do before a buyer ever sees your business. Financial recasting, narrative, and buyer targeting is what separates a competitive process from a disappointing one.

We run a deadline-driven, staged process that creates genuine competition among qualified buyers, coordinating outreach across strategic acquirers, private equity firms, and industry buyers while confidentiality is maintained throughout.

I

Information & Assessment

Financial recasting, value driver analysis, client interviews, preliminary pricing, and initial buyer identification.

II

Market Preparation

CIM and Investment Briefing, buyer research, data room preparation, and narrative tailored to each buyer segment.

III

Marketing & Competitive Process

Coordinated outreach across all buyer tiers, NDA execution, CIM distribution, management conferencing, and IOI collection under deadline discipline.

IV

Partner Selection & Close

Site visits, LOI negotiations, due diligence management, and closing. We stay the course until funds transfer.

Get in Touch

Start a
conversation.

Every conversation begins with a Non-Disclosure Agreement. No one learns of your strategic intentions without first signing an NDA.

There is no obligation. We begin every relationship with a direct conversation about your situation, your goals, and whether Sage is the right fit.

All inquiries are handled directly by a senior member of our team. We respond within one business day.

Thank you. We'll be in touch within one business day.