Concept preview · Independently built by The Logic Forge · Not commissioned by, affiliated with, or endorsed by WhiteHorse Partners LLC · Synthetic demonstration — not legal or tax advice
WhiteHorse PartnersM&A Advisory · Est. 1986
(888) 950-4924 Free Consultation

M&A Advisory · Nashville · Est. 1986

Realize your true fortune —
not just your asking price.

WhiteHorse Partners guides owners of closely held companies through valuation, strategic marketing, negotiation, due diligence and closing — combining sophisticated techniques to unearth hidden value most owners don't realize exists. Often, the result is a valuation millions more than owners ever thought their company could be worth.

Book a Free Consultation → View Recent Closings ↓

Speak with COO Jeff Barnes · (888) 950-4924 · info@whitehorse-partners.com · Confidential, no obligation

WhiteHorse
Partners LLC

Established MCMLXXXVI

4525 Harding Pike · Suite 200
Nashville, Tennessee 37205-2119
SIC 6722 · 6211 — NAICS 523150

1986
Founded — 39 years advising owners
0
Professionals · selectively engaged
0
Deals on record — PitchBook
$1–120M
Middle-market transaction range
$1.28B
Largest transaction advised
½ century+
Collective industry experience
Board Instrument № 01 — Interactive

The Hidden Value Unearther

How much is your company actually worth?

Most owners ballpark a number and leave money on the table. Our process determines areas where profitability — and therefore value — can be increased, then positions the company to the buyers who pay for it. Move the levers of your business below and watch the gap open.

Engagement model — live illustration Synthetic model
$3.0M
60%

Higher involvement = more recoverable add-backs once the business is positioned to transfer.

35%
30%
$17.4M
Current market value
$23.9M
WhiteHorse-maximized value
▲ +$6.5M potential left on the table
Adjusted add-backs & profitability repair+$3.96M
Limited-auction strategic premium+$2.09M
Recurring-revenue quality uplift+$1.74M
Concentration risk adjustment (today)−$1.10M
Market-timing & positioning window+$0.70M

Illustrative model built on our published methodology — adjusted enterprise value, profitability improvement areas, strategic-buyer fit and auction orchestration. Middle-market focus: $1MM–$120MM; largest transaction advised: $1.28B. Not a valuation; a formal engagement begins with site visits and financial analysis.

Five disciplines · One engagement

Ours is not a one-size-fits-all, commoditized process.

The entire team takes a personalized, hands-on approach with every client. We work with only a select number of clients at any given time — concentrating creativity and talent where it brings the greatest value, personally researching, negotiating and managing every aspect of every engagement.

I.

Sell-Side Advisory

We handle valuation, marketing, vetting interested parties, LOI negotiations, facilitation of due diligence and closing — with a team of qualified, trusted advisors sharing one common goal: a successful sale for maximum value. We search worldwide for the best strategic or financial buyer, evaluate many candidates and proceed with the select few, customizing our approach to each buyer's individual wants and needs.

ValuationStrategic marketingLOI negotiationLimited auctionClosing
II.

Buy-Side Advisory

Unlock the potential of your next acquisition with expert guidance. Our team handles everything from identifying potential targets to closing the transaction — and supports post-merger integration so the deal you bought becomes the value you banked.

Target identificationValuationNegotiationIntegration
III.

Valuation Services

Our experienced team provides accurate, comprehensive valuation services that help you make informed business decisions — and ultimately maximize your worth. We analyze the company's financial position as it currently operates, determine areas where profitability and therefore value could be increased, and determine the adjusted Enterprise Value.

Adjusted EVAdd-back analysisShareholder consensus
IV.

ESOP Design & Implementation

Looking for an exit strategy that rewards those who contributed to your company's growth — while maximizing after-tax proceeds from the sale? We design and implement Employee Stock Ownership Plans, including the tax planning that leverages the code to maximize after-tax profits.

ESOP formationTax planningExit strategy
V.

Due Diligence Services

Our team understands both buyers' and sellers' needs, what motivates them, and how to solve any problem that may come to the table. We guide you through the diligence process one step at a time to ensure a successful close — and we build upon your existing advisory team to create a world-class M&A advisory team around the transaction.

Data-room managementQ&A orchestrationClosing assurance
Board Instrument № 03 — Interactive

The Sell-Side Process Orchestrator

A transparent game plan, from outset — no surprises.

Six phases, from the first site visit to the wire at closing. Select any phase to see exactly what happens inside it, and how long it typically runs. This is the game plan Dan Payant called "clear and transparent" — the same one we walk every client through.

Durations are typical working-week estimates for a $5–25MM industrial engagement; every timeline is set at kickoff and tracked against weekly. Phase IV diligence runs concurrently with buyer negotiation.

Phase I — Preparation & Positioning

    Why the process works

    We build upon your existing advisory team to create a world-class M&A advisory team — and manage the due diligence process so the burden is largely removed from the client.

    The diligence gap
    2+ wks
    Owner-staff estimate
    2 days
    WhiteHorse delivery
    7×

    Faster than in-house. "WhiteHorse completed the task in 2 days, made it look easy, and took the burden off my staff. The Baker team was able to focus on running the business while diligence was handled." — Jerry Bradford, Baker Refrigeration Systems

    Board Instrument № 02 — Interactive

    The Tombstone Vault

    Closings, engraved. 37 on record — hundreds over 30+ years.

    With more than 30 years of experience, our professionals have closed hundreds of deals across a wide variety of industries. Below is the recent record — every plaque a company whose owner realized their true fortune. Filter by sector, search by name or buyer, and open any tombstone for the deal story.

    Sources: firm transaction gallery, PitchBook advisor record (37 deals), Axial member profile (member since 2013, 4 closed via Axial). Confidential transactions shown without identifiers per NDA. All trademarks belong to their respective owners.

    Board Instrument № 04 — Interactive

    The Buyer Fit Matrix

    Who will buy your company — and what will they pay?

    We customize our approach to each buyer and investor based on their individual wants and needs. Describe your company below; the matrix plots your strategic fit against buyer financial capacity and recommends the buyer type our record shows closes in your profile — with the real acquirers we've placed sellers with.

    Company profile — live classification Synthetic model
    $12.0M
    14%
    8%
    FINANCIAL SPONSOR capital first · syndicates IDEAL STRATEGIC synergy + capital · premium OPPORTUNISTIC price shoppers BOLT-ON regional platforms STRATEGIC FIT (SYNERGY) → FINANCIAL CAPACITY → YOUR COMPANY
    VerdictYour profile sits in the Ideal Strategic quadrant — the zone where limited auctions produce the highest price.
    Lead buyer typeStrategic acquirer — synergistic operators consolidating your sector
    Record reference
    How we run itEvaluate many candidates, proceed with the select few, customize the approach to each — then orchestrate a limited auction among interested buyers to negotiate the best price, terms and conditions.
    Board Instruments № 06 + 05 — Interactive

    Valuation Waterfall · ESOP Architect

    The exit arithmetic: reported → adjusted → optimized.

    Two instruments, one question: what ends up in your pocket? The waterfall rebuilds your Enterprise Value from reported numbers to optimized reality. The ESOP Architect compares after-tax proceeds across exit routes — the discipline Robert Scarlata, J.D., has practiced since 1986.

    № 06 — Valuation Services calculatorSynthetic
    $8.0M
    11%
    22%

    Excess owner compensation, personal expenses, one-time costs — the items we document and normalize.

    5.6×
    18%
    $4.9M
    Adjusted Enterprise Value
    $6.1M
    Optimized, post-positioning

    Optimization reflects determined areas where profitability — and therefore value — can be increased, plus consensus-building among shareholders on strategic options. Illustrative only; a formal valuation begins with interviews, site visits and financial analysis.

    № 05 — ESOP Architect & after-tax maximizerSynthetic
    $15.0M
    $2.0M
    25%
    40
    Third-party sale$11.75M
    Full capital-gains hit on the gain above basis.
    100% ESOP exit$15.00M
    Structured deferral illustrated at 100% (IRC §1042-style rollover) — rewards the team that built it.
    Recapitalization (partial liquidity)$9.38M
    ~40% cash today, tax paid on that tranche; rolled equity retained.
    ▲ ESOP route: +$3.25M after-tax vs. outright sale

    Simplified illustrative model — not tax or legal advice. ESOP design, feasibility and §1042 treatment depend on facts, structure and current law; we coordinate with your tax counsel. ESOP formations and tax-planning engagements verified in the firm's record since 1986.

    Board Instrument № 07 — Interactive

    The Diligence Burden Remover

    Your staff runs the business. We run the data room.

    Check the items a buyer's counsel will request. We'll show you what your staff's week looks like — versus what WhiteHorse handles, so your team keeps running the company while we drive diligence to a successful close.

    Staff burden — if handled in-house
    38 days
    With WhiteHorse orchestrating
    2 days

    12 of 12 request families managed by our team — Q&A drafted, documents indexed, redactions reviewed — building on your existing advisory team to form a world-class deal team.

    100%

    Compliance-reviewed. Securities transactions are effected through INTE Securities LLC, Member FINRA / SIPC. Verify via FINRA BrokerCheck.

    Board Instrument № 08 — Interactive

    The Exit Readiness Score

    Ten factors stand between you and maximum price.

    Our primary goal is assisting in creating and maximizing our clients' company profitability — in turn maximizing the ultimate transaction price. Grade your company honestly on the ten factors buyers underwrite; we'll produce your readiness score and a prioritized plan for the areas where profitability, and therefore value, can be increased.

    Prioritized action plan
      62%
      Exit readiness — POSITIONABLE NOW

      Sellable today; targeted preparation would move you toward the premium quadrant.

      Board Instrument № 09 — Interactive

      The Worldwide Buyer Search

      From one desk in Nashville to every serious buyer in North America.

      We specialize in the marketing and sale of closely held businesses throughout the USA and Canada. Every engagement searches worldwide for the best strategic or financial buyer — the routes below trace actual closings from our record.

      CANADA MEXICO NASHVILLE HQ

      SELECT A CLOSING TO TRACE ITS SEARCH ROUTE — DOTS ARE APPROXIMATE MARKET GEOGRAPHIES

      Closing routes16 routes

      We evaluate many potential candidates, proceed with the select few, customize the approach to each buyer's individual wants and needs, coordinate meetings and orchestrate a limited auction among interested parties.

      In their words — verified client testimonials

      We build relationships that transcend the transaction.

      WhiteHorse Partners' commitment to creating a clear, transparent game plan from the outset — no surprises — was impressive. Their experience and knowledge in the field showed in the way they handled every step, making it less daunting.

      Dan PayantOwner, Emission & Cooling Systems — Sell-Side Advisory

      I ballparked the time it would take my staff to complete the diligence responses at 2+ weeks. WhiteHorse completed the task in 2 days and made it look easy.

      Jerry BradfordBaker Refrigeration Systems — Sell-Side & Due Diligence

      Steve found in WhiteHorse a valuable resource that provided peace of mind during the sales process.

      Steve HansenOwner & President, Hansen Cold Storage Construction

      From the beginning of our relationship, WhiteHorse painted a vision and a roadmap, then led us to the final result. Now, as we transition to the new normal, WhiteHorse is still there for us.

      Igor CherdakOwner & President, Precision Refrigeration & Air Conditioning
      Board Instrument № 10

      The Collective Experience Timeline

      Forty years in the saddle, half a century of judgment.

      Robert Scarlata founded WhiteHorse Partners in 1986. Since then the firm has assembled over half a century of collective industry experience — from Wall Street league tables to hundreds of closed middle-market deals.

      1986 → 2026 · drag or scroll

      The team — 13 professionals

      A select bench, personally on your deal.

      We pride ourselves on building long-term, mutually rewarding relationships. The people below research, negotiate and manage every aspect of every engagement — no hand-offs to a back office.

      Robert Scarlata

      Founder · Senior Managing Director

      Highly experienced dealmaker with over 35 years of M&A expertise. Entrepreneurial from the start — founded a 100%-owned business renting mini-fridges to college students — then a machinery-sales career before founding WhiteHorse Partners in 1986. Closed many multi-million-dollar transactions across the U.S. and Canada, with ESOP formations and tax planning among his signatures. B.S. Business Administration, UConn; J.D., University of Miami. Former board president, Kingshill School (St. Croix).

      bscarlata@whitehorse-partners.com (615) 338-7595

      Brantley Kemp

      Managing Partner

      Thirty years guiding clients through business transactions with tenacity and a sharp eye — energy, utilities, oil & gas services, transportation, machining, firearms and IT. A financial-industry career spanning 50+ years that began on Wall Street: regional VP of a major brokerage, ranked #1 broker worldwide out of a 6,000-broker league, with executive positions at several NYSE member firms in New York and Chicago. Double major in Business & Political Science, East Tennessee State. When not closing: hunting, reeling big fish, wife Brenda, three kids, eight grandkids.

      bkemp@whitehorse-partners.com (615) 371-1919

      Jim Varallo

      Senior Managing Director

      Over 25 years in mergers & acquisitions services, serving Davidson County and affiliated broker with Brantley Kemp.

      jvarallo@…(615) 360-2044

      Richard Dillard

      Senior Managing Director

      Senior Managing Director based in Nashville; part of the firm's Axial-verified deal leadership since membership began in 2013.

      rdillard@whitehorse-partners.com

      Jeff Barnes

      Chief Operating Officer

      Oversees every bit of work the WhiteHorse team produces — from valuations to marketing to transactions and post-closing activity. Country life in Brevard, NC with his wife, three children and assorted furry and feathered friends.

      jbarnes@…(828) 808-3328

      Tessa Palmer

      Financial Analyst

      Financial analyst supporting valuation modeling, buyer research and transaction analytics across live engagements.

      tpalmer@whitehorse-partners.com

      Solange Colon

      Financial Analyst

      Financial analyst — diligence coordination, financial-position analysis and descriptive-information preparation.

      scolon@whitehorse-partners.com

      Angela East

      Financial Analyst

      Financial analyst — market research, candidate evaluation support and closing documentation for the transaction team.

      aeast@whitehorse-partners.com
      The next step — one conversation

      Free · Confidential · No obligation

      If you're thinking about selling — now or in the future — start here.

      Tell us a little about your company. COO Jeff Barnes oversees every engagement from valuation to post-closing activity, and a Senior Managing Director will respond personally — typically within one business day — with an honest read on whether we're the right firm for you.

      • 01Confidential review of your sector, size and situation — nothing is marketed without your written go-ahead.
      • 02A candid value conversation — realistic expectations, the areas where profitability and value can be increased, and whether a sale, ESOP or recapitalization fits.
      • 03A transparent game plan — the same six-phase process, timeline and team you'd get on day one of an engagement. No surprises.
      Request a consultationReply within 1 business day

      Please enter your name.

      Please enter a valid email address.

      Please enter your company name.

      Submitting opens an email to info@whitehorse-partners.com with your details — no data is stored by this concept preview. Prefer to talk now? Call (888) 950-4924.

      Request prepared — thank you.

      Your email client should open addressed to info@whitehorse-partners.com. Jeff Barnes' team replies within one business day. Need it faster? (888) 950-4924.

      Headquarters4525 Harding Pike, Suite 200
      Nashville, Tennessee 37205-2119
      HoursMonday – Friday · 8:00a – 5:00p CT
      Site visits & buyer meetings by appointment, USA & Canada
      Call (888) 950-4924 Free Consultation →