There is no single “best” M&A advisory firm, but there is a single type. In the Netherlands, there are roughly four types: the acquisition broker, the independent corporate finance firm, the M&A desk of an accounting firm, and the international advisory firm. They differ not in quality, but in what they do. One brings parties together, while another manages a process and contributes to strategy. If you want to buy to grow rather than sell to downsize, that difference is crucial. Someone looking to buy a company (Hogenhouck M&A) needs a different advisor than someone looking to sell.
What Sets a Strategic Acquisition Apart
When selling a business, the question is who the right buyer is and what a good price is. In the case of a strategic acquisition, the question is which company will strengthen your business, how much it should cost, and how you will integrate it afterward without losing value. In this case, the advisor isn’t working toward a single transaction, but toward a portfolio of candidates within a defined evaluation framework.
The shift in focus toward what happens after the deal is reflected in the market. In a survey of 550 international private equity leaders, 52 percent indicated they expect longer holding periods. Forty-nine percent cited digital and technological improvements as the most important source of value creation (Grant Thornton, 2026). A key consideration when choosing an advisor: 27 percent view sector specialization as the key to differentiation.
The Four Types of Consulting Firms
The Four Types of Consulting Firms
Focuses on bringing buyers and sellers together, often among smaller SMEs. Strong in reach and speed, and usually the most cost-effective option. Less suitable when the transaction is intended to serve a strategic purpose, because its role ends with the match and does not extend to integration.
The independent corporate finance firm
Guides the entire process: strategy, candidate selection, valuation, financing, negotiation, and closing (Hogenhouck M&A). Independent of banks and accounting firms, so the advice is not tied to any other product. This approach is best suited for a buy-and-build strategy (Hogenhouck M&A) or a series of acquisitions, because the same firm oversees both the strategy and the individual transactions.
The M&A desk of an accounting firm
Advantage: They already know your financials and can quickly coordinate with the tax department. Point to consider: The advisory role and the auditing or preparation role are intertwined, and the network of buyers is generally smaller than at a firm that handles transactions on a daily basis. Good as a supplement, but rarely as the sole advisor.
The international consulting firm
Extensive network, ample capacity, experienced in complex and cross-border transactions. For Dutch small and medium-sized businesses, the minimum threshold is often the problem. A transaction that’s large for you is small for them, and you can tell by the team you’re assigned.
When Rankings Are and Aren't Useful
Independent rankings of M&A consulting firms do exist. The best-known Dutch ranking combines reviews from clients and consultants with a capability score based on factors such as expertise, prestige, and thought leadership, and categorizes the firms included into five tiers. Of the more than 1,400 firms evaluated, 66 made the list (consultancy.nl).
Use a list like this to find names, not to make a choice. A high ranking says something about a firm’s reputation and scale, but nothing about whether it has buyers in your niche or takes transactions of your size seriously.
Five Criteria for a Strategic Acquisition
- Is the firm focusing on candidates or on a single deal? Ask how they come up with a long list and how they narrow it down. A consultant who immediately names a single target is selling a transaction, not a strategy.
- Can they demonstrate that they know the industry? How many acquisitions have taken place in your industry over the past three years, and on which side of the table?
- Can they arrange the financing? The success of an acquisition depends entirely on the structure. Check whether the firm also provides funding advisory services (Hogenhouck M&A) and whether it has access to banks, mezzanine financing, and investors.
- Do they oversee the integration? Value creation increasingly happens after the deal is closed. Ask what they do between the signing and the first year afterward.
- Do they say what needs to be said? An advisor who doesn't critically question your acquisition plan isn't an advisor. The best deal isn't always the one that goes through.
How the acquisition will affect you and your organization
An acquisition doesn't just change the balance sheet. It brings with it a second corporate culture, a second management team, and often a second way of working. That takes time on your part—precisely during a period when your own business also has to keep running as usual.
So think ahead about a few things that are rarely included in the financial model. How much of your own time can you set aside for the integration, and what will you have to put on hold to do so? Do you want to keep the acquired company’s CEO on board, and if so, in what role and under what terms? And how will you explain this to your own team? An acquisition that makes financial sense but that your team doesn’t support will ultimately cost more than it yields. A good advisor will bring up that conversation on their own initiative.
What this means in practice
The Dutch market offers opportunities. The average EBITDA multiple for SMEs stood at 5.0 in the first half of 2026, with clear differences by size category: 7.0 in the largest category versus approximately 4.8 in the next-smallest category (Brookz & Dealsuite, 2026). That difference is exactly what a buy-and-build strategy targets.
At the same time, buyers have become more disciplined. The volume of deals in the Netherlands fell by 11 percent in 2025, while the average deal size increased (PwC, 2026). Fewer, but larger and more carefully considered transactions. In that climate, an advisor who helps you say no to the wrong acquisition is more valuable than one who quickly closes a deal.
Frequently Asked Questions
An independent corporate finance firm that thinks in terms of candidates rather than just a single deal, has a proven understanding of your industry, can arrange financing, and remains involved after the transaction. In a strategic acquisition, the support provided after the deal is signed is just as important as the negotiations leading up to it.
Roughly four: the acquisition broker who brings the parties together, the independent corporate finance firm that oversees the entire process, the M&A desk of an accounting firm that closely scrutinizes your financials, and the international advisory firm specializing in large and cross-border transactions. They differ in role, not in quality.
Use it to find names, not to make a choice. The best-known Dutch ranking combines client and consultant reviews with a capability score and selects 66 agencies from more than 1,400 reviewed agencies, categorizing them into five tiers. This measures reputation and scale, not whether an agency is a good fit for your situation.
When selling, the advisor works toward a single transaction: finding the right buyer under the right terms. When buying, the advisor works to build a portfolio of candidates using an evaluation framework, and the process continues through to integration. Many firms do both, but in practice, they tend to excel at one or the other.
This is often the case, particularly when it comes to valuation, structure, and financing. With a well-known party in particular, there is a high risk that negotiations will be based on trust and that agreements regarding guarantees, earn-outs, and integration will not be finalized until it is too late.
In conclusion
The question isn’t which M&A advisory firm is the best, but which type fits your plan. For a strategic acquisition, you want a firm that understands your growth strategy, evaluates potential targets, secures financing, and remains involved after the deal is closed. The choice is yours.
Are you considering an acquisition to fuel growth? We’d be happy to provide no-obligation advice on which candidates align with your ambitions and what their realistic price tags might be. See also: A Comparison of M&A Advisory Firms for Business Sales and Choosing an M&A Advisor for Buy-and-Build Strategies.
Sources
- Hogenhouck M&A, Buy a Business, hogenhouck.nl.
- Grant Thornton, Private Equity Outlook 2026, grantthornton.nl, 2026.
- Hogenhouck M&A, Acquisition Process, hogenhouck.nl.
- Hogenhouck M&A, Buy & Build, hogenhouck.nl.
- consultancy.nl, Best M&A Consulting Firms, consultancy.nl.
- Hogenhouck M&A, Funding, hogenhouck.nl.
- Brookz & Dealsuite, Acquisition Barometer August 2026, dealsuite.com, 2026.
- PwC, M&A Outlook 2026: The Dutch Perspective, pwc.nl, 2026.
