What’s the difference between businesses that sit, and businesses that sell?

The difference is Lakes Business Group, Inc., a premier M&A advisory company.

Since 2008, Lakes Business Group, Inc. (LBG) incorporates the large public stock investment banking mentality to the lower Middle Market Client. Historically, these clients have been underserved as too small or too expensive to support by the Boutique Investment banking firms…. This is our sweet spot.

LBG incorporates state of the art technology and critical path approach target marketing which provides local representation with a global reach to an engagement, helping leverage value up – getting the most money for your business.

Lakes Business Group, Inc. is an M&A advisory services firm with offices located in Wisconsin and operating throughout the Midwest and the world. Focused on the full or partial sale, divestitures or mergers of middle- market businesses in niche markets, LBG handles M&A transactions specializing in assisting management buyouts, business reconstruction, divestitures, value maximization of sales transactions and the end-to-end evaluation of a specific clients’ needs.

Our strong team of unique backgrounds provides us an opportunity to provide our clients with an unparalleled skill set to work in their best interest to reach their goals during their success planning process.

We are proud to be members of the following organizations:
Waukesha County Business Alliance
Hartland Chamber of Commerce
Greater Green Bay Chamber
Association of Professional Merger & Acquisition Advisors (APMAA)

Contact Details

  Website
  City Waukesha, WI
  Zip Code 53186
  Address W229N1433 Westwood Dr Suite 106
  Phone Number (262) 347-2083

Products & Services

Selling Your Business

Selling your business can become overwhelming and stressful. In fact, it may be one of the largest transactions of your life. An exit strategy involves developing a plan to pass on responsibility of running the business, transferring ownership and extracting your equity. It’s important you have an experience team of advisers in your corner to help you navigate thru the complicated process and anticipate upcoming steps in the process to ensure a successful transaction.

With over 100 years of M&A Experience, let us prove to you why we are your number one choice and let us earn your business.

Customer Testimonials

I had a great experience selling my business with Lakes Business Group. From my first meeting with Michael Szmanda, I felt comfortable with his approach. I had previously met with Sunbelt and thought that their valuation of my business was inflated. I felt that Michael was realistic and upfront with the process and his numbers aligned with two accountants I spoke with after our meeting. He was also interested in learning more about my industry and unique ways of approaching potential buyers. Michael is very friendly and I found him to be very accessible when I had questions along the way. He was willing to offer support when some tough decisions needed to be made and I would certainly recommend him!


As an M&A attorney, I believe Lakes Business Group is one of the most respectable lower middle market M&A firms in the Midwest. I have worked very closely with Tim and Nicole for several years to help their clients sell their businesses. They work very hard to protect their clients’ interests throughout the deal process, provide creative deal structures, and leverage up business values for clients. I look forward to continuing working with them to successfully transfer businesses and would highly recommend Lakes Business Group to anyone looking to buy or sell a business.


I can only say great things about working with Lakes Business Group. Tim and Nicole are truly dedicated and a pleasure to work with.


Had a great experience working with Tim and his team at VR. They all blew me away with their insight not only in buying and selling businesses but also in my specific industry. They also didn't waste my time with unqualified buyers who just wanted to kick the tires but instead had a huge network or serious investors. I've already recommended them to two fellow business owners


Our organization recently purchased an add-on business to complement our existing holdings. We worked with Michael Szmanda at Lakes Business Group on this transaction. We found that Michael is very knowledgeable and professional. He helped to manage all components of the transaction to ensure we met our closing date as time was of the essence. We would absolutely do business with Michael and Lakes Business Group in the future, and look forward to our next acquisition.


Professional, thorough and courteous service! Doing business with Michael Smanda at Lakes Business Group was a pleasure as Michael made the process simple and easy. One thing that impressed me was the attention that Michael gave to me after he completed my valuation. I had several questions afterwards that he addressed via phone call and and email. I highly recommend Michael Smanda @ Lakes!


It was a pleasure working with this broker. We definitely look forward to working with Lakes Business Group again in the future.


Knowledgable professionals who truly care

Social Activity

NEW #BusinessOpportunity in SE Wisconsin! Retail & Distribution Center. https://t.co/D6sPXILuGg
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Successful #M&A transactions by #LakesBusinessGroup team https://t.co/JvQOT87gnd
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Lakes Business Group, Inc - lower to middle market #businessAcquisitions - Like our Facebook page https://t.co/fHMUjgcmEF
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Cutting Edge #StartUp Opportunity. Looking for funding for unique system business. https://t.co/aSq5wf61Dz
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Franchise available.. great #businessOpportunity in the wellness industry. #beYourOwnBoss https://t.co/0eF7BElv2m
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Acquire this #BusinessForSale - #AutoRepair shop in SE Wisconsin https://t.co/U8nKTKfEb1
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M&A Opportunities, ADD-ON Opportunities and Start Up Opportunity https://t.co/WQYL1RIIEj https://t.co/qCh4EneS97
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NEW BUSINESS LISTING! Looking to #BeYourOwnBoss. turn-key franchise wellness #businessforsale https://t.co/00WTTTyGuv
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From Our Website

Since 2008, Lakes Business Group, Inc. (LBG) incorporates the large public stock investment banking mentality to the lower Middle Market Client. Historically, these clients have been underserved as too small or too expensive to support by the Boutique Investment banking firms. This is our sweet spot. LBG incorporates state of the art technology and critical path approach target marketing which provides local representation with a global reach to an engagement, helping leverage value up - getting the most money for your business.


Time Commitment: Selling your business can take a significant amount to time to properly market, vet the buyers and negotiate with multiple buyers before closing a deal. While our team is executing the sale of your business you can continue to operate your business. Confidentiality: We protectthe identity of your business and only disclose information to buyers who have signed a confidentiality agreement. Marketing: We identify the right types of buyer for your business and present the right value drivers.


Tim Bullard, CEO, and Partner, Mark Smith are both former business owners and know first-hand the challenges that face a privately held business. Having an exit strategy is something every business owner should consider whether you are months or years away from selling. Our team's uncompromised commitment to our clients' confidentiality and the most technologically advanced assessment/marketing methods available today provide our clients with a level of success unequalled in the business transfer industry.


Below are tombstones of previous successful transactions that our team has completed or sold. As you can see, we have experience in a wide variety of industries and size. No two businesses are the same, but that is one of the most exciting parts of our business.


Selling your business may be one of the largest transactions of your life. It is important that you pick the right business Adviser to guide you through the selling process and help you execute your exit strategy. The team at Lakes Business Group, Inc. takes their jobs very seriously to always work in the best interest of our Client to help leverage value up and get you the most money for your business.