Embedded in business.
Accountable to the result.
Embedded in business.
Accountable to the result.
Embedded in business.
Accountable to the result.
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An advisory-first merchant bank for the middle market.
Built for complexity. Accountable to the outcome. Present through every stage.
Keel Advisory and Keel Capital are separately operated affiliates of Keel Merchant Bank.
1
An advisory-first merchant bank for the middle market.
Built for complexity. Accountable to the outcome. Present through every stage.
Keel Advisory and Keel Capital are separately operated affiliates of Keel Merchant Bank.
1
An advisory-first merchant bank for the middle market.
Built for complexity. Accountable to the outcome. Present through every stage.
Keel Advisory and Keel Capital are separately operated affiliates of Keel Merchant Bank.
One entry point. Access to the full ecosystem.
Keel Advisory
Strategic and operational advisory
Keel Partners
Full-stack capital markets execution
Keel Capital
Opportunistic and proprietary principal investments
Keel OS
Agentic intelligence for the middle market
Integrated by design. Governed by structure. Built to protect clients and counterparties at every step.
Four pathways. One destination.
One entry point. Access to the full ecosystem.
Keel Advisory
Strategic and operational advisory
Keel Partners
Full-stack capital markets execution
Keel Capital
Opportunistic and proprietary principal investments
Keel OS
Agentic intelligence for the middle market
Integrated by design. Governed by structure. Built to protect clients and counterparties at every step.
Four pathways. One destination.
Full Stack. Full Lifecycle. One Platform.
Keel stays embedded from first assessment through exit, with every capability under one roof.
Advisory
Advisory
Advisory
Advisory
Advisory
Advisory
Technology
Technology
Technology
Technology
Technology
Technology
Value Creation
Value Creation
Value Creation
Value Creation
Value Creation
Value Creation
Capital Markets
Capital Markets
Capital Markets
Capital Markets
Capital Markets
Capital Markets
Acquisitions
Acquisitions
Acquisitions
Acquisitions
Acquisitions
Acquisitions
Integration
Integration
Integration
Integration
Integration
Integration
Exit
Exit
Exit
Exit
Exit
Exit
Embedding inside the business, assessing operations, identifying value levers, and building the roadmap for what comes next.
The intelligence layer underneath every stage. Real-time reporting, automated workflows, and proprietary analytics from day one.
Embedded execution from the inside. Transforming businesses through financial and operational improvement that compounds enterprise value.
Full-stack capital markets execution. Diligence already complete, financials already clean, story already proven.
Going on offense. Identifying, evaluating, and executing acquisitions and strategic transactions that accelerate the value creation plan.
Staying embedded through post-acquisition integration. Aligning operations, systems, and teams with real-time performance data.
Positioning the business for a premium outcome. The proven narrative built across every prior stage becomes the exit story.
Advisory
Advisory
Advisory
Advisory
Advisory
Advisory
Technology
Technology
Technology
Technology
Technology
Technology
Value Creation
Value Creation
Value Creation
Value Creation
Value Creation
Value Creation
Capital Markets
Capital Markets
Capital Markets
Capital Markets
Capital Markets
Capital Markets
Acquisitions
Acquisitions
Acquisitions
Acquisitions
Acquisitions
Acquisitions
Integration
Integration
Integration
Integration
Integration
Integration
Exit
Exit
Exit
Exit
Exit
Exit
Embedding inside the business, assessing operations, identifying value levers, and building the roadmap for what comes next.
The intelligence layer underneath every stage. Real-time reporting, automated workflows, and proprietary analytics from day one.
Embedded execution from the inside. Transforming businesses through financial and operational improvement that compounds enterprise value.
Full-stack capital markets execution. Diligence already complete, financials already clean, story already proven.
Going on offense. Identifying, evaluating, and executing acquisitions and strategic transactions that accelerate the value creation plan.
Staying embedded through post-acquisition integration. Aligning operations, systems, and teams with real-time performance data.
Positioning the business for a premium outcome. The proven narrative built across every prior stage becomes the exit story.
Advisory
Advisory
Advisory
Advisory
Advisory
Advisory
Technology
Technology
Technology
Technology
Technology
Technology
Value Creation
Value Creation
Value Creation
Value Creation
Value Creation
Value Creation
Capital Markets
Capital Markets
Capital Markets
Capital Markets
Capital Markets
Capital Markets
Acquisitions
Acquisitions
Acquisitions
Acquisitions
Acquisitions
Acquisitions
Integration
Integration
Integration
Integration
Integration
Integration
Exit
Exit
Exit
Exit
Exit
Exit
Embedding inside the business, assessing operations, identifying value levers, and building the roadmap for what comes next.
The intelligence layer underneath every stage. Real-time reporting, automated workflows, and proprietary analytics from day one.
Embedded execution from the inside. Transforming businesses through financial and operational improvement that compounds enterprise value.
Full-stack capital markets execution. Diligence already complete, financials already clean, story already proven.
Going on offense. Identifying, evaluating, and executing acquisitions and strategic transactions that accelerate the value creation plan.
Staying embedded through post-acquisition integration. Aligning operations, systems, and teams with real-time performance data.
Positioning the business for a premium outcome. The proven narrative built across every prior stage becomes the exit story.
Services shown are provided by separately operated affiliates of Keel Merchant Bank. Each entity operates independently. No single entity provides all services depicted.
Four entities. One institution.
Four entities. One institution.
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Built by people who have been in your seat.
Keel’s founding team brings decades of experience as principals, operators, lenders, and executives across the middle market.
© 2026
Dan Picmann
CEO & Co-Founder, Keel Merchant Bank
Former PE principal with deep experience leading operational transformations across the middle market. Architect of the advisory-first model that defines how Keel operates: embedding inside businesses, deploying capital alongside them, and staying accountable to the outcome. Built Keel Merchant Bank to deliver institutional-grade execution to the companies that need it most.
Dan Picmann
CEO & Co-Founder, Keel Merchant Bank
Former PE principal with deep experience leading operational transformations across the middle market. Architect of the advisory-first model that defines how Keel operates: embedding inside businesses, deploying capital alongside them, and staying accountable to the outcome. Built Keel Merchant Bank to deliver institutional-grade execution to the companies that need it most.
Dan Picmann
CEO & Co-Founder, Keel Merchant Bank
Former PE principal with deep experience leading operational transformations across the middle market. Architect of the advisory-first model that defines how Keel operates: embedding inside businesses, deploying capital alongside them, and staying accountable to the outcome. Built Keel Merchant Bank to deliver institutional-grade execution to the companies that need it most.
Kap Haldia
COO & Co-Founder, Keel Merchant Bank
Former PE principal with extensive operational and capital markets expertise across the middle market. Has been on every side of the table as investor, operator, lender, and advisor, across 70+ acquisitions, $500M+ in capital deployed, and 500+ credit agreements negotiated.
Kap Haldia
COO & Co-Founder, Keel Merchant Bank
Former PE principal with extensive operational and capital markets expertise across the middle market. Has been on every side of the table as investor, operator, lender, and advisor, across 70+ acquisitions, $500M+ in capital deployed, and 500+ credit agreements negotiated.
Kap Haldia
COO & Co-Founder, Keel Merchant Bank
Former PE principal with extensive operational and capital markets expertise across the middle market. Has been on every side of the table as investor, operator, lender, and advisor, across 70+ acquisitions, $500M+ in capital deployed, and 500+ credit agreements negotiated.
Eddie Perlman
Independent Director & Strategic Advisor
Independent advisor providing governance oversight and strategic counsel. Founded Scottwood Capital Management in 2001 and built it to nearly $1B in assets under management. Recognized by Barron's Penta top 100 and awarded best event-driven hedge fund in the U.S. in 2009. Returned all investor capital in 2011 ahead of the Euro debt crisis. Now manages private capital through the Perlman Family Office.
Eddie Perlman
Independent Director & Strategic Advisor
Independent advisor providing governance oversight and strategic counsel. Founded Scottwood Capital Management in 2001 and built it to nearly $1B in assets under management. Recognized by Barron's Penta top 100 and awarded best event-driven hedge fund in the U.S. in 2009. Returned all investor capital in 2011 ahead of the Euro debt crisis. Now manages private capital through the Perlman Family Office.
Eddie Perlman
Independent Director & Strategic Advisor
Independent advisor providing governance oversight and strategic counsel. Founded Scottwood Capital Management in 2001 and built it to nearly $1B in assets under management. Recognized by Barron's Penta top 100 and awarded best event-driven hedge fund in the U.S. in 2009. Returned all investor capital in 2011 ahead of the Euro debt crisis. Now manages private capital through the Perlman Family Office.
Alex Putzer
CTO & Managing Partner — Keel OS
Technology leader building Keel's agentic AI infrastructure division, Argonav, deploying autonomous systems that replace fragmented software stacks with operator-grade workflow infrastructure inside middle market businesses. Previously founded Bridge Advisory Group, a NY-based real estate brokerage, capital markets, and technology firm.
Alex Putzer
CTO & Managing Partner — Keel OS
Technology leader building Keel's agentic AI infrastructure division, Argonav, deploying autonomous systems that replace fragmented software stacks with operator-grade workflow infrastructure inside middle market businesses. Previously founded Bridge Advisory Group, a NY-based real estate brokerage, capital markets, and technology firm.
Alex Putzer
CTO & Managing Partner — Keel OS
Technology leader building Keel's agentic AI infrastructure division, Argonav, deploying autonomous systems that replace fragmented software stacks with operator-grade workflow infrastructure inside middle market businesses. Previously founded Bridge Advisory Group, a NY-based real estate brokerage, capital markets, and technology firm.
A merchant bank for the middle market.
The right partner for the moments that define what comes next.
A merchant bank for the middle market.
The right partner for the moments that define what comes next.
A merchant bank for the middle market.
The right partner for the moments that define what comes next.