Legacy Capital Advisors, llc
You’ve built something special. Preserve your legacy.
Since 2002, we’ve exclusively represented owners of family-held businesses confidentially, without conflict, through every stage of the sale process. We never work for PE. No divided loyalties.
* Securities transactions conducted through StillPoint Capital, LLC, Tampa, FL.
The owners who’ve chosen Legacy
Our relationship with Legacy started well before and continues well after our deal. They have always had my back and provided me with great advice throughout my relationship with them.
The Legacy team became 'my team' in every sense. For me, this transaction was very personal and represented a life's work. They respected that and counseled me accordingly. Looking back, I would not change a thing, and in fact recommended them to a close friend.
I give Legacy Capital a 5-star review!! Legacy went into great depth to understand the complexity of our business and capture and articulate the value of the vision of our company and its unique design. Throughout the process, Legacy was there anticipating and advising on every nuance. The value of their years of experience became quite apparent in the critical negotiations, due diligence, and the close.
I chose a great partner in Legacy Capital. Working with their team was an outstanding experience. They guided me through the give and take of structuring a deal and attained very strong value and terms. Their targeted process was tremendous, keeping our deal as confidential as possible. Post transaction, Legacy continued to provide insight and support as we worked through post-closing matters. It was outstanding working with a partner who was completely honest, frank, and strived to maximize our return.
Not only was Legacy an outstanding advisor throughout our engagement, but remained an invaluable confidant afterwards
The Legacy team were terrific partners. We worked with them for five years before it was the right time to sell. We never felt rushed and they did a great job finding us a buyer that matched our needs at the best price.
The process of even thinking about selling a 50+ year old family-owned business was overwhelming - physically, emotionally, and experientially. Finding the best advice and guidance was paramount. We interviewed a couple of competitors of Legacy Capital, and we were less than enthused. Legacy took the time to understand our business niche, listen to our objectives, introduce us in "real time" to various approaches (private equity, competitors, family offices, ESOPs, and so on). Their tutelage allowed us to understand the pros and cons of each approach and which aligned with our objectives and values. Legacy Capital really became partners with us which ultimately led to not only a wonderful financial transaction but also one that satisfied our goals and aspirations for all affected constituents.
We had an exceptional experience from start to finish. Legacy's team was responsive, built a great personal relationship with us, brought the right buyers to the table, and negotiated a strong valuation. They managed the entire process with professionalism and precision. I would not hesitate to recommend Legacy Capital to any business owner looking to sell.
Deciding to sell was an emotional decision for me. The senior partners at Legacy Capital were always there for me and served me with the utmost respect and attention. They netted even stronger results than I had expected. They are the epitome of professionalism...and now great friends.
Legacy Capital was clearly the best option for me. They handled everything with integrity and discretion, keeping my transaction quiet, handling my personal issues with care, all while attaining high value for the company.
The Legacy Capital Team made our business sale very smooth. The communication was excellent and the guys truly cared about representing our business in a way that showed how hard we worked to build a successful business. I will and have used them on another transaction.
We were great at running our business, but that did not equate to knowing how to 'sell' our business…we had one opportunity to hit the grand slam and Legacy helped us to knock the ball out of the park.
Legacy Capital closed three deals for me and each deal exceeded my expectations. They're true professionals.
We couldn't have had better representation nor better friends after the transaction.
…the process worked perfectly. The professionalism and personal attention was above and beyond any expectation. The greatest endorsement I can give to any company is to use them again, and in the case of Legacy, I will, without reservation, use them again.
The principals at Legacy Capital 'get' what's at stake when a business is being sold:…They went the extra mile to find a buyer who paid high value but also provided a great future home for our employees and partners.
Testimonials may not be representative of the experience of other customers and are no guarantee of future performance or success.
Most Investment Banks Have Conflicts.
We Don’t.
Many advisors are quietly incentivized to steer your company toward a particular buyer or outcome. Those conflicts can quietly lower your price. Our only allegiance is to the owners who hired us.
No Conflicts
We aren’t tied to a stable of buyers or organizations that need feeding. Every client recommendation exclusively serves our client — not a buyer on the other side of the table.
How conflicts can lower your price →A Better Process
Our process is built to create genuine competitive tension and protect confidentiality throughout. We’ll show you the benefits — the playbook itself we save for our clients.
Why our process is better →Every Buyer Type
We drive toward whatever process and outcome is best for you, not whatever is easiest for us — and we have the ability to reach all potential buyers.
- Strategic Acquirors
- Private Equity Platforms
- Private Equity Add-Ons
- Family Offices
- ESOPS
We Only Represent Sellers, Never Buyers
Most investment banks earn the majority of their revenue from private equity firms and large corporate clients — the very buyers those banks are supposed to negotiate against on your behalf. This creates powerful incentives to favor repeat buyers over striving for the best outcome for a one-time seller.
Since our inception, Legacy has chosen not to represent PE firms or strategic acquirers. This singular focus eliminates conflicts of interest and allows us to negotiate aggressively and exclusively on your behalf.
The Cost of Conflicts: Lower Multiples
Research has shown that sell-side investment banks with ongoing buy-side relationships often deliver 10–20% lower multiples for sellers due to misaligned incentives.
Download: Caveat Emptor →“We find that PE firms pay, on average, less for portfolio companies when their sell-side advisor has worked for the acquiring PE firm on the buy-side in past transactions.”
— Stefan Morkoetter & Thomas Wetzer, Conflicts of Interest and the Role of Financial Advisors in M&A
How to Know if an Investment Bank Has Conflicts
The easiest test: ask whether they will include a clause in their engagement agreement stating they will neither seek nor accept business from any party contacted on your behalf for five years. If they refuse, you have your answer.
The second test: review their website. If they advertise buy-side services, capital raising, or work for private equity firms and strategic acquirers, they have conflicts.
Broad Outreach Processes Hurt Sellers
Many investment banks prefer a broad, simultaneous outreach — often blasting confidential information to dozens of potential buyers in one wave. This approach is optimal for the investment bank because it maximizes efficiency and uses your company as marketing bait for their larger, repeat clients.
For the owner, it severely increases the risk of confidentiality breaches, weakens your negotiating position, and reduces the likelihood of a strong spike bid from top buyers who want to avoid broad auctions.
Legacy’s Process: Disciplined, Bespoke, Confidential
Legacy uses a bespoke, disciplined, tiered process. We start with the highest-probability, highest-value targets and expand only as needed. This preserves confidentiality, maintains leverage, and consistently delivers stronger values and better terms.
Further, we sell to whatever buyer type is best for you — public strategic, private equity, large private company, family office, or ESOP. Our lack of conflicts never motivates us to favor one over another.
Managing Directors on Every Aspect of Every Engagement
You are served exclusively by Legacy’s managing directors from the first meeting through closing, with at least two dedicated MDs on every deal. No handoffs. No junior staff running the process.
Because Legacy does not work for private equity or strategic buyers, our managing directors are free from conflict and negotiate aggressively toward maximum value, unencumbered by competing loyalties.
Transaction Tax Planning
We’ve added a senior advisor with deep M&A tax experience who works with you before and during the deal with the goal of maximizing the after tax benefits.
Maximize your after-tax proceeds →Deal Teams You Can Trust
Our deal teams are all FINRA registered, and we run a process built to protect your confidentiality at every stage.
A strategic advisory program that combines outside board members, consultants, and investment bankers into one focused team — built to deliver higher proceeds, fewer surprises, and complete control over your exit.
Four integrated modules, structured around the three pillars every owner must address before exit.
Personal
Define your goals, assess readiness, and build the team that gives you real options.
Financial
Optimize value, minimize risk, and time your exit for maximum leverage.
Estate
Align wealth transfer and legacy goals for optimal estate returns.
Three Ways We Protect Your Legacy
Sell-Side Advisory
We tailor every engagement to your circumstances — whether the right buyer has already called or a sale is still years off. Our bespoke, multi-tiered process preserves confidentiality and leverage, and our Managing Directors personally negotiate every deal, free of the conflicts that come with representing acquirers.
Exit Blueprint
Strategic exit planning that prepares the business, the numbers, and the story well ahead of a sale, so value is built before it’s ever negotiated.
Transaction Tax Planning
Senior M&A tax guidance woven through the deal to structure proceeds efficiently and protect what you take home.
Seasoned, senior, and in the room
Patrick J. Winters is a Managing Director of Legacy Capital Advisors, LLC. Mr. Winters has over thirty years of financial advisory experience serving clients across a diverse industry base, including: manufacturing, distribution, health care services, insurance, business services, governmental, foods, transportation, printing and packaging.
Mr. Winters has extensive investment banking experience including Mergers and Acquisitions and Private Placements of Debt and Equity serving a wide variety of both private and public market companies throughout the United States. Prior to joining Legacy, Mr. Winters worked in the middle market investment banking department of Tucker Anthony, Inc. in Chicago, Illinois. Prior to that, he was a Vice President in the Mergers and Acquisition department of Duff & Phelps, LLC.
Additionally, Mr. Winters has experience in public accounting with Deloitte and Touche in New York and Price Waterhouse in Washington, D.C., where he supervised audit and consulting engagements servicing primarily major financial and governmental organizations.
Mr. Winters received his Bachelor of Science in Accounting from Villanova University and a Master of Business Administration from the Darden Business School at the University of Virginia. Mr. Winters is a Certified Public Accountant.
Mr. Winters is a registered representative of StillPoint Capital, LLC.
Michael G. Ward is a Managing Director of Legacy Capital Advisors, LLC, bringing over thirty years of financial advisory experience with large and mid-sized organizations. Mr. Ward has served clients across a variety of industries, including manufacturing, distribution, foods, entertainment, consumer retail, aviation, transportation, printing and packaging and others.
Prior to joining Legacy, Mr. Ward founded a mid-market investment banking firm which provided capital sourcing, buy-side advisory and sell-side advisory to lower middle market clients across the mid-continent of the United States. Mr. Ward worked in the investment banking and valuation practices at Duff & Phelps in Chicago, along with Mr. Winters, Mr. Byczek and Mr. Keuper.
Mr. Ward received his Bachelor's Degree in Economics from Denison University in Granville, OH, and his Master of Business Administration from the University of Notre Dame in South Bend, IN. He lives in Barrington, Illinois with his wife and two children.
Mr. Ward is a registered representative of StillPoint Capital, LLC.
Kevin R. Keuper is a Managing Director of Legacy Capital Advisors, LLC and has more than thirty years of financial advisory experience serving clients across a diverse industry base, including: manufacturing, distribution, health care services, insurance, business services, medical devices, transportation, printing and packaging.
Mr. Keuper has extensive investment banking experience including Mergers and Acquisitions, Public Offerings, and Private Placements with both private and public companies throughout the United States. Mr. Keuper has been a guest lecturer on the topic of Middle Market Mergers and Acquisitions for a number of professional groups as well as numerous Master's Degree programs. Mr. Keuper has demonstrated expertise in determining potential business value, acquisition and selling strategies, and negotiating all aspects of transactions.
Mr. Keuper's experience includes Managing Director of Duff & Phelps, LLC, President of Duff & Phelps Securities Co., and Senior Vice President of Duff & Phelps Investment Research. Prior to joining Legacy Capital Advisors, LLC, Mr. Keuper was a Senior Vice President and Portfolio Manager for Heartland Advisors, where he also served on the credit committee. Prior to that, Mr. Keuper worked for ten years in the manufacturing control systems industry for Hewlett-Packard, Xerox Computer Services and Burroughs.
Mr. Keuper is a registered representative of StillPoint Capital, LLC.
Warren Jacobsen is a Managing Director of Legacy Capital Advisors. Mr. Jacobsen has over thirty years of experience working with owners of both publicly and privately held corporations. His background has covered the full range of advisory engagements including private placements, merger/acquisition advisory, and origination of middle market buyouts as well as valuation of equity interests and intangible assets for transaction analysis, tax planning, and litigation support. Mr. Jacobsen has written and lectured on a variety of corporate finance topics and has testified as an expert witness in valuation disputes.
Prior to Legacy, Mr. Jacobsen was Managing Director of Valuemetrics Capital, LLC where he was responsible for the firm's wide investment banking activities including fairness opinions, merger/acquisition advisory and private placements. Additional advisory experience has included a Chicago based private equity firm responsible for acquiring and managing middle market manufacturing companies, and valuation advisory experience with Arthur Andersen & Co. and Arthur D. Little, Inc.
Mr. Jacobsen received his Bachelor of Science, Civil Engineering from Valparaiso University and a Master of Business Administration, Finance from Loyola University.
Mr. Jacobsen is a registered representative of StillPoint Capital, LLC.
Robert C. Byczek is the founder and a Managing Director of Legacy Capital Advisors, LLC. Mr. Byczek's business activities are focused on providing high quality Merger and Acquisition Advisory Services to middle market companies in a wide variety of industries. Mr. Byczek has over thirty years of financial advisory experience in helping middle market business owners achieve success in the capital markets. Mr. Byczek is also sensitive to the challenges middle market business owners face. During Mr. Byczek's career, he has successfully owned, operated and sold businesses.
Before founding Legacy Capital Advisors, LLC, Mr. Byczek was the Chief Operating Officer and Head of Investment Banking at Duff & Phelps, LLC. Mr. Byczek started the Investment Banking Practice in 1990. In this role, he generated and managed numerous investment banking engagements for a wide variety of middle market businesses. In 1996, Mr. Byczek co-led the sale of the majority control of Duff & Phelps, LLC to Webster Financial Corp.
Prior to joining Duff & Phelps, Mr. Byczek was a Senior Vice President of Merrill Lynch's Middle Market Investment Banking Group where he was responsible for the business unit and engaged in all aspects of mergers, acquisitions, divestitures, buy side and capital raising for middle market businesses. Earlier in his career, Mr. Byczek was an auditor with Price Waterhouse and Co.
Mr. Byczek received his Bachelor of Science in Accounting and Finance from Northern Illinois University. Mr. Byczek is a Certified Public Accountant.
William S. Blackmore has over thirty years of strategic management experience including mergers, acquisitions, and divestitures. He has had P&L level responsibility across a wide variety of companies including owning and selling his own companies.
He has been at Actuant Corporation (formerly Applied Power Inc.), a $500mm company, since 2004. Mr. Blackmore serves as Executive Vice President of Engineered Solutions. Prior to joining Actuant, Mr. Blackmore served as President of Integrated Systems, Americas at APW Ltd., from 2000 to 2001 and as President, Rexnord Gear and Coupling Products ('Rexnord') from 1997 to 2000. Prior to 1997, he held various senior management positions.
Mr. Blackmore has participated in over twenty mergers and divestitures in his various roles throughout his career across a wide spectrum of manufacturing companies. Mr. Blackmore has demonstrated expertise in evaluating and executing business strategies, acquisition and divestiture tactics and strategies, acquisition assimilation, and business management. Mr. Blackmore earned his undergraduate degree from the University of Wisconsin and an MBA from the University of Louisville.
Chris Bradford is a seasoned tax advisor and former partner at one of the nation's largest CPA firms, where he spent his career working closely with family-owned businesses, entrepreneurs, and privately held companies. Over more than 30 years in practice, Chris built a reputation for his ability to combine technical tax expertise with practical, relationship-driven guidance that helped clients navigate growth, succession, and liquidity events.
Chris has advised on more than 50 transactions ranging from $10 million to $900 million, providing strategic tax structuring, due diligence support, and long-term planning for owners and management teams. His experience spans industries including manufacturing, distribution, professional services and emerging growth companies.
Known for his steady judgment and ability to simplify complex issues, Chris has been a trusted advisor to multigenerational families and first-generation entrepreneurs alike. His work has included business transitions, estate and wealth transfer planning, and the tax implications of mergers, acquisitions, and recapitalizations.
John Hanak serves on the Advisory Board of Legacy Capital Advisors. Mr. Hanak retired in 2024 as Chief Innovation and Corporate Officer and Executive Director of the Office of Innovation and Corporate Partnerships at Oklahoma University. He has deep experience in virtually all areas of business organizations, with particular emphasis in strategic and business planning, organizational design, operations, human resources, labor relations, and corporate law. Also, Mr. Hanak is co-founder of North Riverside Partners, a consumer electronics and technology commercialization firm. He currently serves as a volunteer mentor for SCORE and as editor-in-chief of his newsletter, angelinvest.
Previously, Mr. Hanak served as President, CEO and board member of Digital Innovations, an Indianapolis-based technology product development and marketing firm. Additionally, Mr. Hanak worked extensively with DI's investment bankers, its audit firm, and the investor community. At Ispat Inland Steel, a $2.3 billion subsidiary of Ispat International, NV, Mr. Hanak managed all administration and legal matters and later was the director of Purdue University's technology incubators across the state of Indiana.
Mr. Hanak graduated from Valparaiso University with a Bachelor of Science degree, and graduated with distinction with a Juris Doctor from the John Marshall Law School in Chicago.
Brett Lamont has over 20 years of experience in manufacturing. He functioned as COO and CFO for a supplier to the recreational vehicle and manufactured housing industries until the company sold in 2015. He was responsible for capital expansion, financial management, personnel and many other operational facets of the company.
Mr. Lamont has also worked for both private and public banks serving in various roles including loan workout, middle market lending, and credit management. Mr. Lamont holds a bachelor's degree in Economics and Management from Purdue University and an MBA from Indiana University. He also holds a degree from the Graduate School of Banking at The University of Wisconsin.
Al Moschner has nearly forty years of strategic management experience with growing companies, in addition to mergers, acquisitions, and divestitures. He has had P&L level responsibility across a wide variety of communications and technology companies.
Mr. Moschner has held various management and consulting positions with a number of companies including Leap Wireless, Verizon Communications, International Business Machines, and Zenith. He has served in a wide range of capacities and roles including Chief Operating Officer, Chief Marketing Officer, President & CEO, and Vice Chairman. Additionally, he currently serves on several Boards of Directors including Cleveland Wireless, Wintrust Financial Corporation, USAT Technologies, the Kellogg School of Management, and the Archdiocese of Chicago Finance Council.
Mr. Moschner has participated in a wide variety of transactions including mergers and divestitures in his various roles throughout his career. Mr. Moschner has demonstrated expertise in evaluating and executing business strategies, acquisition and divestiture tactics and strategies, acquisition assimilation, and business management. Mr. Moschner earned his undergraduate degree from The City College of New York and an MS in Electrical Engineering from Syracuse University.
Jeff Wells has over 40 years of manufacturing expertise. He recently retired as President and Chief Executive Officer of Wells Cargo, Inc., a major multi-plant manufacturer of specialized and production trailers. His company specialized in custom-built units for a wide variety of applications in many different markets, from the construction trailer market to the concession and food service industry to personal-use trailers. Mr. Wells' expertise includes all phases of manufacturing, including production control, purchasing, sales, service and management at the highest levels.
He serves on numerous Boards of Directors of several privately held companies as well as the Elkhart General Hospital Foundation and the Elkhart Community Foundation Board. He has served on the Board of Directors for Society National Bank of Indiana and Society National Bank – Elkhart District. He has chaired the Greater Elkhart Chamber of Commerce, the Elkhart General Hospital, and the Indiana University Varsity Club National Boards of Directors.
Mr. Wells' education includes a Bachelor of Science degree in Business from Indiana University. His military duty consisted of six years in the Indiana National Guard.
Confidential Discussion
If you’d like a no-cost, no-obligation assessment of the value of your company in today’s marketplace — or to learn more about how Legacy can help you get prepared to go to market — please fill out this form.