Directory of Independent Sponsors and Search Funds in North America (2026)
A free, filterable directory of independent sponsors and search funds that acquire lower middle market companies in the United States and Canada, with each firm's published criteria and a link to its website.
Key findings
- The directory lists 183 buyers verified on their own websites: 63 independent sponsors and 120 search funds and search-style holding companies, headquartered in 30 U.S. states and Canadian provinces.
- 45 of 63 independent sponsors (71%) publish an EBITDA range; among those that publish a minimum, the median is $2M of EBITDA.
- 56 of 120 search funds (47%) publish an EBITDA range, with a median published minimum of $1M, against $2M for independent sponsors.
- Texas is the most common headquarters (18 firms), followed by Massachusetts (11) and Illinois (10).
- 16% of independent sponsors and 47% of search funds describe themselves as sector-agnostic or publish no sector focus.
- Firms are included only if their own websites support the listing, so the independent sponsor list is a verified sample rather than a census. Western U.S. and Canadian sponsors remain thinly covered: 2 of 63 publish a headquarters in a western state and 2 in a Canadian province.
- 183
- Buyers listed, each verified on its own website
- 63
- Independent sponsors
- 120
- Search funds and search-style holding companies
- $2M
- Median published minimum EBITDA, independent sponsors (n=43)
Where the buyers are
Count of listed firms by published headquarters. 51 firms publish no headquarters location.
What they look for
Share of independent sponsors tagging each sector; a firm can have several.
The full directory
Filter the directory
Showing 183 of 183 firms
11 Point Partners
Traditional search fund | Springdale, AR
- EBITDA
- $1M+
- Revenue
- $3M+
- Sectors
- Insurance services: captive managers, loss control, services to brokers, underwriters and carriers
Profitable with $1M+ EBITDA or $3M+ revenue; full or partial cash exit; long-term owner-operator
Source: 11pointpartners.com, checked 2026-10-26
1650 Collective
Search fund | Boulder, CO
- Sectors
- Generalist
Partnership with a seller passionate about legacy; team will acquire and operate the business
Source: 1650collective.com, checked 2026-10-26
3RS Holdings, LLC
Search fund | Houston, TX
- EBITDA
- $1M to $3M
- Sectors
- Industry-agnostic; focus on industrial services, light mfg, B2B services, construction-related, distribution, transportation
- Geography
- Greater Houston metropolitan area
$1-3M EBITDA or SDE; founder succession; repeat/recurring revenue; two partners to operate the business full-time
Source: 3rsholdings.com, checked 2026-10-26
Acernus Capital
Search fund | Toronto, ON
- Revenue
- $3M to $30M
- Sectors
- Manufacturing, distribution, healthcare/trade/B2B services
- Geography
- Within 180 km of the GTA
Recurring/repeat sales; low concentration; low-moderate capex; owner divesting 80%+, non-core division or gradual succession
Source: acernuscapital.com, checked 2026-10-26
ALAMidas Capital Partners
Independent sponsor
- Sectors
- Infrastructure and mining services, industrial services, manufacturing and processing, distribution/transportation/logistics, business services, health and wellness/healthcare, food and beverage
- Geography
- North America
EBITDA $5M-$50M (currency not stated); founders and management stay active 3-5 years and roll over equity; says each deal builds the track record for a committed Fund I
Source: alamidascpartners.com, checked 2026-10-26
Alka Oaks Partners
Traditional search fund | Philadelphia, PA
- EBITDA
- $3M+
- Sectors
- Education services: K-12 consulting, higher ed/tutoring, managed services and program delivery
- Geography
- United States
Enterprise value $15-50M; service or tech-enabled services with recurring revenue; privately owned, founder seeking succession
Source: alkaoaks.com, checked 2026-10-26
Amalgam Capital
Independent sponsor | Durham, NC
- EBITDA
- $5M to $30M
- Revenue
- $25M to $250M
- Sectors
- Industrial services, manufacturing, distribution, healthcare services, tech-enabled B2B operations
Founder/family transitions, carve-outs of non-core divisions, operationally challenged businesses; full exits or retained equity
Source: amalgamcapital.com, checked 2026-10-26
American Transition Partners
Search fund | Houston, TX
- EBITDA
- $750K to $3M
- Sectors
- Route-based/mobile services, industrial & commercial services, testing/inspection, equipment maintenance, security & facility services
- Geography
- Greater Houston area
$0.75-3M annual cash flow; $2-18M enterprise value; retiring seller; 10+ year history; non-discretionary demand; loyal non-project customers
Source: americantransitionpartners.com, checked 2026-10-26
Analog Capital
Search fund | Calgary, AB
- Revenue
- $10M to $30M
- Sectors
- Generalist
- Geography
- Western Canada
Established private company; owner wants operational continuity and a succession plan; founder steps in to lead
Source: analogcapital.ca, checked 2026-10-26
Analog Ideal
Independent sponsor
- EBITDA
- $2M to $25M
- Sectors
- Generalist
- Geography
- Target companies headquartered in the US or Canada
Profitable, cash-generative businesses with 10%+ EBITDA margins; control and non-control; target HQ in US or Canada
Source: analogideal.com, checked 2026-10-26
Anderson Capital
Self-funded search | San Francisco, CA
- Sectors
- Generalist
- Geography
- San Francisco Bay Area (within ~1 hour of SF)
$700K-2M SDE; consistently profitable, ideally 10+ years history; financed with personal capital and SBA 7(a)
Source: anderson-cap.com, checked 2026-10-26
Appa Capital
Self-funded search | San Francisco, CA
- EBITDA
- $500K to $800K
- Sectors
- B2B service businesses with recurring or contractual revenue
- Geography
- West Coast, focus on California
EBITDA/SDE $500-800K; seller financing required; SBA 7(a) + seller note + equity; permanent hold
Source: appa-capital.com, checked 2026-10-26
Appleby Succession Capital
Traditional search fund | Toronto, ON
- Sectors
- Generalist
- Geography
- US or Canada
Single small to medium-sized business; integrate with existing management; long-term hold; flexible exit for owner
Source: applebysc.com, checked 2026-10-26
Arbutus Capital Partners
Traditional search fund | Canada
- Sectors
- Natural resource businesses
- Geography
- British Columbia
One natural resource business from a founder ready to pass the torch; AI-augmented operations
Source: arbcap.ai, checked 2026-10-26
Astaria Partners
Self-funded search | Houston, TX
- EBITDA
- $1M+
- Sectors
- Preferred: manufacturing, B2B services; excludes restaurants, child/elderly care, retail
- Geography
- United States
$1-3M+ cash flow; consistent revenues and margins; 10+ years in business; retiring owner-operator; buyers provide all equity
Source: astariapartners.com, checked 2026-10-26
Astoria Growth Partners
Traditional search fund | New York, NY
- EBITDA
- $1M+
- Revenue
- $4M+
- Sectors
- B2B services and software (B2B or B2C)
- Geography
- United States
$4M+ revenue and/or $1M+ EBITDA; recurring revenue, limited cyclicality, low capex; owner seeking exit. Also lists Chicago, IL office
Source: astoriagrowthpartners.com, checked 2026-10-26
Backer North Investments
Independent sponsor | Toronto, ON
- Sectors
- Profitable Canadian B2B service firms (logistics and customs, fire and life safety, TPA/insurance, testing labs, elevator service, condo management, environmental consulting)
- Geography
- Canada
Syndicate targets C$2-11M EBITDA; fund-backed targets C$11-55M EBITDA; EBITDA margins 5%+; 10+ years of stable profitable operations
Source: backernorth.com, checked 2026-10-26
BAF Acquisitions
Search fund
- Sectors
- Generalist
- Geography
- Kansas City metro
Retiring or transitioning small business owners seeking a succession partner
Source: bafacquisitions.com, checked 2026-10-26
Bainbridge Legacy Capital
Search fund
- Sectors
- Generalist
- Geography
- Pacific Northwest
Family businesses
Source: bainbridgelc.com, checked 2026-10-26
Beckett Legacy
Search fund | Boston, MA
- Revenue
- $2M to $10M
- Sectors
- Manufacturing, the trades, or business-to-business services
- Geography
- New England
Single company to acquire and lead long-term; searcher relocates to run it in person
Source: beckettlegacy.com, checked 2026-10-26
Bidart Partners
Traditional search fund | Los Angeles, CA
- Sectors
- Essential products or services with loyal, repeat or contracted customers
Established, profitable lower to mid-market business; retirement or succession situations; long-term hold
Source: bidartp.com, checked 2026-10-26
Blackcomb Peak Equity
Traditional search fund | Austin, TX
- Revenue
- $10M to $50M
- Sectors
- Generalist
- Geography
- United States
Motivated owner; consistent 3-yr profits; EBITDA margin >15%; stable revenue; fragmented, low-capex industries
Source: blackcombpeakequity.com, checked 2026-10-26
Blue Haven Equity
Traditional search fund | Boston, MA
- Sectors
- Generalist
Owner-led business seeking succession; flexible deal structures; long-term ownership
Source: bluehavenequity.com, checked 2026-10-26
Bluffton Capital
Independent sponsor | Charlotte, NC
- EBITDA
- $500K to $3M
- Sectors
- Business services, manufacturing, industrials, tech-enabled services, distribution, consumer goods, health care
- Geography
- North Carolina and South Carolina
Established, profitable services businesses with multi-year track record and recurring revenue; no startups, turnarounds, real estate or restaurants
Source: blufftoncapital.com, checked 2026-10-26
Bolivar Point Capital
Search fund | Houston, TX
- EBITDA
- $1M to $5M
- Sectors
- Value-add distribution, light mfg, industrial/specialty services, infrastructure, T&L, healthcare & IT services, waste/environmental
- Geography
- Texas; United States
Retiring owner seeking liquidity/succession; EBITDA margins 10%+; >10 full-time employees; recurring free cash flow preferred; fragmented industry
Source: bolivarpointcapital.com, checked 2026-10-26
Bondwell Capital
Independent sponsor
- EBITDA
- $2M to $10M
- Sectors
- Healthcare services: prevention, personalization, cash-pay, employer-aligned care
- Geography
- United States
Enterprise value $10-50M; control transactions; operator-led
Source: bondwellcapital.com, checked 2026-10-26
Borgman Capital
Independent sponsor | Milwaukee, WI
- EBITDA
- $2M to $15M
- Revenue
- $10M to $100M
- Sectors
- Industry agnostic; food & consumer, traditional manufacturing, infrastructure products & services, business services
- Geography
- Midwest focus; open to opportunities across the U.S.
Profitable lower-middle-market companies; platforms $10-100M revenue, no revenue minimum for add-ons; succession/ownership transitions
Source: borgmancapital.com, checked 2026-10-26
Burstall Capital
Search fund | Canada
- Sectors
- Generalist
- Geography
- Alberta and Western Canada
Privately held businesses; succession-minded owners; long-term ownership without outside investors
Source: burstallcapital.com, checked 2026-10-26
Calistix Capital
Search fund | Canada
- Sectors
- Generalist
- Geography
- Canada
Owners seeking full or partial exit and reduced day-to-day role; no predetermined timeline
Source: calistixcapital.com, checked 2026-10-26
Calverton Growth Partners
Search-style holding company | Cleveland, OH
- EBITDA
- $1M to $3M
- Sectors
- Industrial & commercial services, niche manufacturing, value-added distribution
- Geography
- Northeast Ohio
Family-owned businesses in transition; 10%+ margins; 3+ years positive cash flow; founder is day-to-day operator
Source: calvertongrowth.com, checked 2026-10-26
Canyon Road Partners
Search fund
- Sectors
- Generalist
- Geography
- New Mexico
Family-owned business seeking continuity and a thoughtful transition; long-term ownership with patient capital
Source: canyonroadpartners.com, checked 2026-10-26
Carderock Succession
Search fund | Carderock, MD
- EBITDA
- $1M to $3M
- Sectors
- U.S. federal government contractors (national/homeland security technical services or products)
- Geography
- Greater Washington, D.C. area
Majority prime/SBSA contracts, 3x+ backlog to revenue, cleared or technical workforce; $1-3M profitability
Source: carderocksuccession.com, checked 2026-10-26
Carnyx Holdings
Independent sponsor
- EBITDA
- $2M+
- Revenue
- $5M+
- Sectors
- Mission-critical and essential recurring services; infrastructure-related
Family- and founder-owned; opportunistically smaller
Source: carnyxholdings.com, checked 2026-10-26
Carrollton Growth
Independent sponsor
- Sectors
- Multi-unit and services businesses
- Geography
- United States
Control and significant minority positions in profitable, growing lower-middle-market businesses with sound unit-level economics
Source: carrolltongrowth.com, checked 2026-10-26
Cascata Capital
Independent sponsor | Dallas, TX
- EBITDA
- $1M to $20M
- Revenue
- $5M to $100M
- Sectors
- Commercial/residential services (roofing, landscaping, fire & life safety, pest), consumer, environmental, pet, space tech, utility
Control of entrepreneur-founded, family or management-owned companies plus add-ons; select minority; $5-75M+ investments; ranges open-ended ('+')
Source: cascatacapital.com, checked 2026-10-26
Castle Pines Capital Partners
Search fund | Denver, CO
- Sectors
- Generalist
- Geography
- United States
Lower middle market owner-operators seeking a liquidity event; long-term, hands-on ownership
Source: castlepinescapitalpartners.com, checked 2026-10-26
Castleford Capital
Independent sponsor | New York, NY
- EBITDA
- $2M+
- Revenue
- $10M to $250M
- Sectors
- Healthcare services, pharma services and information technology
$10-75M investments; meaningful minority or majority with governance rights; significant management ownership; 5-10 yr holds
Source: castlefordcapital.com, checked 2026-10-26
Cedarline Acquisitions
Search fund | OR
- Revenue
- $2M to $8M
- Sectors
- Skilled trades: electrical, HVAC, plumbing, roofing, landscaping
- Geography
- Pacific Northwest
Established trades businesses with owners nearing retirement; single acquisition or multiple over time
Source: cedarlineacquisitions.com, checked 2026-10-26
Century Creek
Search fund | St. Louis, MO
- EBITDA
- $750K+
- Revenue
- $3M to $15M
- Sectors
- B2B services or maintenance offerings in fragmented markets
Owners seeking retirement or succession; EBITDA margins 15%+; repeat revenue; limited capex and customer concentration
Source: centurycreek.com, checked 2026-10-26
Clay Path Partners
Traditional search fund | New York, NY
- Sectors
- Business services, franchisors/franchisees, marketing, route-based and facility services, healthcare, education
$1-10M cash flow or $2-10M ARR; retiring/stepping-back owners; full sale or minority retained
Source: claypathpartners.com, checked 2026-10-26
Clove Capital
Independent sponsor
- EBITDA
- $1M to $10M
- Revenue
- $10M+
- Sectors
- Healthcare services: alternative sites of care, behavioral health, pharmacy, post-acute care, specialty care
EBITDA margin 10%+; 2-3 years steady top-line growth; customer concentration below 20%; 3-7 year hold; fragmented markets for buy-and-build; founders who stay involved
Source: clove-cap.com, checked 2026-10-26
Compass Partners
Independent sponsor | Stamford, CT
- EBITDA
- $5M to $50M
- Sectors
- Aerospace & Defense and Industrials
- Geography
- Platform companies based in the United States; add-ons considered globally
Platform companies with existing book of business; modest use of debt up to 4x
Source: compasspartners.com, checked 2026-10-26
Concorde Equity Partners
Independent sponsor
- Sectors
- Generalist
Small business acquisitions; finds entrepreneurs to become owner/operators, quarterbacks the acquisition and supports them after close
Source: concordeequitypartners.com, checked 2026-10-26
Continuum Legacy Partners
Search fund
- EBITDA
- $2M to $10M
- Revenue
- $5M to $50M
- Sectors
- Generalist
- Geography
- Primarily Middle America; open nationwide
Recurring or contractual revenue; strong teams and financial stability; continuity plan for a business owner
Source: continuumlegacypartners.com, checked 2026-10-26
CoreScale Holdings
Search fund | Chicago, IL
- Sectors
- Generalist
Owners considering what comes next; founders buy and operate the business themselves
Source: corescaleholdings.com, checked 2026-10-26
Cortex Industrial Partners
Independent sponsor
- EBITDA
- $1M to $3M
- Sectors
- Industrial automation and robotics: controls, PLC/HMI/SCADA, panel design, process automation
Founder-led firms with 10-40 employees and recurring service revenue
Source: cortexindustrialpartners.com, checked 2026-10-26
Credo Private Capital
Independent sponsor | Birmingham, MI
- EBITDA
- $2M+
- Sectors
- Manufacturing, distribution, business/industrial services, logistics/transportation
- Geography
- Greater Midwest (will consider other locations)
Control investments backing existing management; add-on acquisitions; no turnarounds, start-ups, retail or oil/gas
Source: credoprivatecapital.com, checked 2026-10-26
Crosswalk Capital
Search fund | Minneapolis, MN
- EBITDA
- $1M to $7M
- Revenue
- $5M to $50M
- Sectors
- Preferably B2B; sizable, growing, fragmented industries with low cyclicality and regulatory risk
Recurring/contractual revenue, defensible advantage, middle management in place ($1-7M annual cash flow); owner retirement or exit
Source: crosswalkcapital.com, checked 2026-10-26
Cumberland Ridge Capital
Search fund | Nashville, TN
- EBITDA
- $1.5M to $4M
- Sectors
- Generalist
15%+ EBITDA margin; recurring/repeat customers, none >25% of revenue; organic growth; tenured team; owner-operator
Source: cumberlandridgecapital.com, checked 2026-10-26
Cupecoy Growth Partners
Search fund | Brooklyn, NY
- Revenue
- $5M to $50M
- Sectors
- Sizable, growing, fragmented industries with low cycle exposure
Family-owned business with history of profitability and growth, loyal customers, dependable middle management
Source: cupecoygrowthpartners.com, checked 2026-10-26
D.K. Smith & Co.
Independent sponsor | Miami, FL
- EBITDA
- $2M to $15M
- Sectors
- Business services, IT services, industrial (services, manufacturing, automation, environmental) and consumer
Control acquisitions with management partnership; platforms $2-15M EBITDA, any size for bolt-ons; seller rollover option
Source: dksmithandco.com, checked 2026-10-26
Darby Chase
Search fund | Charlotte, NC
- Sectors
- Service businesses: B2B/professional, industrial and essential, tech-enabled, and healthcare services
- Geography
- Charlotte, NC region; open across the Southeast
$500K-$2M annual cash flow; profitable, repeat customers, not overly owner-dependent; owner ready to step back
Source: darbychase.com, checked 2026-10-26
Dark Alpha Capital
Independent sponsor
- Sectors
- Advanced manufacturing technologies, automotive industry innovation and other select high-growth sectors
- Geography
- Companies headquartered in the United States
Recurring revenue, low customer concentration
Source: darkalphacapital.com, checked 2026-10-26
DMD Capital Group
Independent sponsor | Atlanta, GA
- EBITDA
- $2M to $8M
- Sectors
- Healthcare and life sciences; healthcare data platforms, RCM and tech-enabled services
- Geography
- Across the U.S.
Enterprise value $10-50M; profitable, established businesses with recurring or durable demand
Source: dmdcapitalgroup.com, checked 2026-10-26
Doan Brook Capital
Search fund
- EBITDA
- Up to $2.5M
- Revenue
- Up to $20M
- Sectors
- Specialty manufacturing, value-added distribution, business & industrial services, consumer services
- Geography
- Greater Cleveland area
Transitional family-owned business
Source: doanbrookcapital.com, checked 2026-10-26
Dovetail
Traditional search fund | Toronto, ON
- EBITDA
- $1M to $5M
- Sectors
- B2B services and vertical software
- Geography
- Ontario and surrounding region
One well-run, founder-led company; long-term, operator-led hold
Source: dovetailgp.com, checked 2026-10-26
DreamSpark Holdings
Search fund | Stillwater, MN
- EBITDA
- $1M to $3M
- Sectors
- Healthcare/MedTech, B2B services, niche manufacturing, equipment repair & field services, vertical software
- Geography
- Nationwide; priority Minnesota, Wisconsin, Florida, Arizona
Mission-critical, recurring revenue; no turnarounds; seller financing and rollover welcome; long-term hold
Source: dreamsparkholdings.com, checked 2026-10-26
Dune Peak Partners
Traditional search fund | Nashville, TN
- EBITDA
- $500K to $10M
- Sectors
- Generalist
Recurring/repeat revenue; no customer >30%; 10%+ EBITDA margin; fragmented markets; 7+ year hold
Source: dunepeakpartners.com, checked 2026-10-26
E&V Legacy Partners
Search fund
- Sectors
- B2B businesses with industrial or commercial customer base
- Geography
- Southeast US
Established, people-driven business with recurring or maintenance-driven customer base; principal to run it day to day
Source: eandvlegacypartners.com, checked 2026-10-26
Edwin Capital
Search fund | St. Louis, MO
- EBITDA
- $1M to $2M
- Sectors
- Home healthcare services: home health, personal care, hospice, palliative, medical transport, staffing
- Geography
- United States
US-headquartered, 10+ years, 10-50+ employees, recurring contract revenue; no turnarounds; owner succession
Source: edwincapital.com, checked 2026-10-26
Equity Visions
Independent sponsor
- EBITDA
- $3M to $15M
- Sectors
- Manufacturing (metals or machinery preferred) and specialty distribution
Enterprise value $20-150M
Source: equityvisions.com, checked 2026-10-26
Everlift Partners
Traditional search fund
- Revenue
- $2M to $20M
- Sectors
- B2B services incl. industrial, transportation and healthcare; open to others
- Geography
- Texas
Profitable Texas-based business with growth potential; owners looking to exit or retire
Source: everliftpartners.com, checked 2026-10-26
Extension Drive
Search fund | Chicago, IL
- EBITDA
- $300K to $2M
- Revenue
- $2M to $20M
- Sectors
- Home services, B2B services, food and beverage production, specialized manufacturing
Retiring/exiting owners; loyal, diversified repeat customers; low capital intensity; owner willing to take a seller note
Source: extensiondrivellc.com, checked 2026-10-26
Ezra Legacy Partners
Traditional search fund | Austin, TX
- Revenue
- $5M+
- Sectors
- B2B software, tech-enabled services, professional services
Founder-owned; largely recurring revenue; strong margins and retention; one acquisition, founder steps in as exec
Source: ezralegacypartners.com, checked 2026-10-26
Fairground Partners
Traditional search fund | Austin, TX
- Sectors
- Generalist
One company to buy, hold and grow long term; founder steps in as owner-operator; flexible deal structure; backed by search fund investors
Source: fairgroundpartners.com, checked 2026-10-26
Fells View Capital
Traditional search fund | Melrose, MA
- EBITDA
- $1.5M+
- Sectors
- Generally sector agnostic; software ($3M+ ARR) or B2B services businesses
- Geography
- US or Canada
Control investment; B2B services with $1.5M+ annual earnings and 10%+ margins, or software with $3M+ ARR; owners seeking exit
Source: fellsviewcapital.com, checked 2026-10-26
Flight Equity
Independent sponsor | New York, NY
- EBITDA
- $3M to $10M
- Sectors
- Services and specialty distribution
- Geography
- U.S., headquartered anywhere
Control, majority investments; one industry at a time, then a group of companies
Source: flightequity.com, checked 2026-10-26
Flyleaf Capital
Independent sponsor
- Sectors
- Generalist
- Geography
- Texas
Lower-middle-market owner-operated companies; majority buyouts, structured equity and private credit; succession and expansion capital
Source: flyleafcapital.com, checked 2026-10-26
FortéOne Capital
Independent sponsor | Winnetka, IL
- EBITDA
- $2M to $10M
- Sectors
- Specialty manufacturing, building products, industrial and engineering services
- Geography
- United States
Control investments, $10-80M enterprise value; founder/family-owned lower middle market businesses; operator-led
Source: forteonecapital.com, checked 2026-10-26
Fourth Hill
Search fund | Grand Rapids / Ann Arbor, MI
- Sectors
- Generalist
Committed capital; founders relocate and run the business; flexible transitions; employees retained
Source: fourthhill.com, checked 2026-10-26
Franklin Tree Partners
Search fund | Boston, MA
- Sectors
- Generalist
- Geography
- Greater Boston area
Consistently profitable business with a proud team and essential products/services; owner considering retirement or transition
Source: franklintreepartners.com, checked 2026-10-26
Fulham & Co.
Independent sponsor | Wellesley, MA
- EBITDA
- Up to $10M
- Revenue
- Up to $50M
- Sectors
- Advanced manufacturing, industrial technology and specialized industrial businesses
Majority investments in family-owned / owner-operated advanced manufacturers; 5-10+ year holds
Source: fulhamco.com, checked 2026-10-26
Glen Oaks Capital
Independent sponsor | Rye, NY
- EBITDA
- $1M to $10M
- Revenue
- $5M to $75M
- Sectors
- Manufacturing, environmental & industrial services, business services, distribution
- Geography
- United States
$1-10M equity; MBOs, corporate divestitures, family succession, retiring owners, distressed balance sheets
Source: glenoakscap.com, checked 2026-10-26
Grand Haven Capital
Traditional search fund | Phoenix, AZ
- EBITDA
- $1.5M to $5M
- Revenue
- $10M to $50M
- Sectors
- Large, fragmented, growing industries
60%+ recurring revenue; EBITDA margins 15%+; 3-5+ years stable cash flow; low customer concentration; owner committed to transition
Source: grandhavencapital.com, checked 2026-10-26
Grandview Peak
Search fund | Salt Lake City, UT
- Sectors
- Generalist
Source: grandview-peak.com, checked 2026-10-26
Greenridge Capital Partners
Traditional search fund | TX
- EBITDA
- $1.5M+
- Sectors
- Expanding industries offering mission-critical services
Recurring revenue, low churn; majority ownership with optional seller rollover; full or partial cash exit
Source: greenridgecapitalpartners.com, checked 2026-10-26
Greenview Holdings
Independent sponsor
- Sectors
- Generalist
Source: greenviewholdings.com, checked 2026-10-26
Greenwich Point Capital
Search fund
- Revenue
- $3M to $15M
- Sectors
- Residential and home services; technology-enabled services to homeowners and organizations
- Geography
- Connecticut and New York area
Healthy, growing business; two entrepreneurs to lead and operate it; partnership with founders/management
Source: greenwichpointcap.com, checked 2026-10-26
Hanson Growth Strategies
Independent sponsor
- EBITDA
- $750K to $3M
- Sectors
- Generalist
- Geography
- United States
Platform investments at $750K-$3M EBITDA; add-ons as low as $500K EBITDA; control acquisitions with seller rollover
Source: hansongrowthstrategies.com, checked 2026-10-26
HarborWind Partners
Independent sponsor | Chicago, IL
- EBITDA
- $2M to $8M
- Sectors
- Niche manufacturing, specialty chemicals, industrial and essential B2B services
- Geography
- United States
Controlling stakes in founder-led businesses, long-term hold; offices in Chicago and Boston
Source: harborwind.com, checked 2026-10-26
Harlan Operating Partners
Search fund | Atlanta, GA
- Revenue
- $3M to $20M
- Sectors
- Pediatric therapy practices (OT, PT, speech, feeding therapy, early intervention)
- Geography
- Based in Atlanta; open to opportunities nationwide
Established pediatric therapy practice with strong therapist team; owner-operator to lead for decades
Source: harlanoperatingpartners.com, checked 2026-10-26
Hayden Creek Capital
Independent sponsor
- EBITDA
- $3M to $25M
- Revenue
- $10M to $250M
- Sectors
- Consumer, healthcare services, business services, industrial and distribution, niche manufacturing
- Geography
- US-based companies, preference for Western states
Control or minority equity, owner liquidity, MBOs, family transitions, carve-outs; investment size $1-50M; proven management in place; limited capital intensity; typically avoids operationally distressed situations
Source: haydencreekcapital.com, checked 2026-10-26
Heartland Heritage
Search fund
- EBITDA
- $500K to $5M
- Sectors
- Generalist
- Geography
- Within a three-hour drive of Kansas City
$500K-$5M annual profit; 100% acquisition, majority, or minority with path to control; permanent capital, long-term hold
Source: heartland-heritage.com, checked 2026-10-26
Hudson Glade
Independent sponsor | Rye Brook, NY
- EBITDA
- Up to $20M
- Revenue
- Up to $150M
- Sectors
- Consumer, industrial and services companies across the consumer-influenced supply chain
- Geography
- North America
Prefers control buyouts of lower-middle-market platforms with defensible growth
Source: hudsonglade.com, checked 2026-10-26
Indput Capital Partners
Search fund | Chicago, IL
- EBITDA
- $1M to $5M
- Sectors
- Real estate service providers, B2B professional services, fleet management, manufacturing, workforce development, B2B software
10+ years operating history; recurring profit; owner seeking liquidity; acquires one company, long-term hold
Source: indputcapitalpartners.com, checked 2026-10-26
Iron Keel Capital
Independent sponsor | Austin, TX
- EBITDA
- $250K to $1.5M
- Sectors
- Trades, waste and environmental services, fabrication, distribution, contracting
- Geography
- Texas first, room for the right business beyond it
Annual cash flow (SDE or EBITDA) roughly $250K-$1.5M, the range SBA acquisition financing supports; founder- and family-owned; not turnarounds
Source: ironkeelcapital.com, checked 2026-10-26
Ironia Holdings
Search fund
- EBITDA
- $750K+
- Sectors
- Services, manufacturing and/or distribution; excludes retail, restaurants, construction
- Geography
- NJ, VA, NC, MD and DE (US East)
Single privately held business with several years of stable cash flow; no startups or turnarounds; flexible owner exit
Source: ironiaholdings.com, checked 2026-10-26
Ivy Hill Health
Independent sponsor | Atlanta, GA
- EBITDA
- $2M to $10M
- Sectors
- Specialized healthcare services, practice support companies and physician practices
- Geography
- Southeast US preferred, national search
Anchor company EBITDA $2-10M (add-ons smaller); $10-50M capital per deal; 5+ year hold; no startups, turnarounds or unrelated roll-ups
Source: ivyhillhealth.com, checked 2026-10-26
JJK Partners
Independent sponsor | Las Vegas, NV
- EBITDA
- $3M to $20M
- Sectors
- Enterprise software (SaaS), contracted business services, specialized healthcare, certain infrastructure niches
- Geography
- Companies serving or expanding into the U.S. market
Enterprise value US$10-85M; control buyouts and minority equity; no debt financing; growth capital, founder liquidity, management transitions
Source: jjkpartners.com, checked 2026-10-26
Jocan Capital
Self-funded search | Canada
- Revenue
- $500K to $10M
- Sectors
- Software, light manufacturing, distribution, essential services
- Geography
- Vancouver, Squamish or Cranbrook areas of BC (or remote)
$200K-1M earnings; 10+ years operating history; recurring customers; retiring or transitioning owner
Source: jocan.com, checked 2026-10-26
Keepstone Capital
Self-funded search
- Revenue
- $2M to $15M
- Sectors
- Business services, home services, medical services, light manufacturing, repair of high-value equipment
- Geography
- Southern California
Earnings $750K-2M; 10%+ margins; 5+ years; retiring owner without successor; founder capital + SBA 7(a) + seller note
Source: keepstonecapital.com, checked 2026-10-26
Keepwell Group
Search fund | Miami, FL
- Sectors
- Generalist
Acquire, operate and grow one business for the long term; works with owners and brokers
Source: keepwellgroup.com, checked 2026-10-26
Kicker Capital
Traditional search fund | Boston, MA
- Sectors
- Generalist
Owner transitions with flexible timelines and long-term ownership; founder joins full-time as operator
Source: kickercapital.com, checked 2026-10-26
Kithe Capital Partners
Search fund | Houston, TX
- EBITDA
- $2M to $10M
- Revenue
- $5M+
- Sectors
- Easy-to-understand, service-based businesses with recurring revenue (or $2-6M ARR)
Enterprise value up to $50M; 50%+ recurring revenue; growing, low-cyclicality industry; owner nearing retirement or reducing involvement
Source: kithecapitalpartners.com, checked 2026-10-26
KPI Acquisitions
Search fund | Cleveland, OH
- Revenue
- $3M to $10M
- Sectors
- Niche manufacturing, industrial/commercial services, specialized logistics, environmental & water, testing/inspection
- Geography
- Northeast Ohio
Founder- or family-led businesses ready to pass the torch; essential or recurring revenue; one company, long-term
Source: kpiacquisitions.com, checked 2026-10-26
KS Operators
Search fund | Atlanta, GA
- Sectors
- Essential, B2B, industrial, commercial, maintenance or recurring-revenue service businesses
- Geography
- Metro Atlanta, within 60-90 minutes of Atlanta
Target EV ~$2M-$3M, SDE ~$500K-$750K; strong team, repeat customers, limited customer concentration
Source: ksoperators.com, checked 2026-10-26
KSI Legacy Capital
Search fund | Houston, TX
- EBITDA
- $750K+
- Revenue
- $5M+
- Sectors
- Generalist
- Geography
- Greater Houston area
Owner transition; EBITDA margins >15%; niche market leader; meaningful recurring revenue; non-cyclical industry with medium-high barriers to entry
Source: ksilegacy.com, checked 2026-10-26
Lagom Group
Search fund
- EBITDA
- $500K to $1.5M
- Revenue
- $2M to $8M
- Sectors
- Underground infrastructure, sewer & drain, hydrovac, environmental compliance, utility-adjacent field services
- Geography
- Minneapolis/Twin Cities metro, within 60 minutes
Single business, 10+ years, recurring/maintenance demand; no customer >30% of revenue; veteran-led
Source: lagomgroupllc.com, checked 2026-10-26
Lakeview Growth Management
Independent sponsor | New York, NY
- EBITDA
- $1M to $7M
- Sectors
- Tech-enabled business process services for real estate, financial, legal, company research, medical testing labs
- Geography
- NY, NJ, CT, PA, NC
EV $5-35M; founder succession; scalable model with proprietary technology
Source: lakeviewgm.com, checked 2026-10-26
Laurel Shores
Search fund | Maryville, TN
- EBITDA
- $3M to $10M
- Sectors
- Niche/specialty manufacturing; industrial services (maintenance, building systems, TIC, safety)
- Geography
- Greater Knoxville area
10+ yr history; management depth; recurring B2B demand; retirement/succession; capital raised per transaction
Source: laurelshores.com, checked 2026-10-26
Legacy 1888
Search fund
- Revenue
- $5M to $15M
- Sectors
- Flexible: commercial refrigeration service, lawn care, live events, consumer products, business and facility services
- Geography
- North Carolina: the Triad (Greensboro, Winston-Salem, High Point), Charlotte, Raleigh
15%+ EBITDA margins; single business with buyer as day-to-day operator; funding already secured
Source: legacy1888.carrd.co, checked 2026-10-26
Libre Equity Partners
Traditional search fund | Philadelphia, PA
- Sectors
- Platform ecosystem partners, vertical systems of record, tech-enabled services (logistics, field services, mfg)
Founder-led, recurring revenue; at least $1.5M annual investable cash flow; offices in Philadelphia and Miami
Source: libreequity.com, checked 2026-10-26
Lighthouse Equity Partners
Independent sponsor | Westport, CT
- EBITDA
- $500K to $1.5M
- Revenue
- $3M to $5M
- Sectors
- Owner-led service and operating businesses requiring hands-on skilled labor or personalized service
- Geography
- Within about a 90-minute radius of Fairfield County, CT
Majority interests; limited debt; low capex; net margins near 20%
Source: lighthouseequitypartners.com, checked 2026-10-26
Lnkd Capital
Search fund | Canada
- Revenue
- $10M+
- Sectors
- Occupational health & safety training, first aid training, occupational health clinical services and testing
- Geography
- Canada
Founder-led businesses; stable profit; majority recurring revenue; owner retiring and selling 100% or large majority
Source: lnkdcapital.com, checked 2026-10-26
Longview Growth Partners
Search fund | Calgary, AB
- Sectors
- Generalist
Controlling investment in a private company with an active, day-to-day leadership role; succession situations
Source: longviewgp.com, checked 2026-10-26
LV2 Equity Partners
Independent sponsor | Midland, MI
- Revenue
- $10M to $50M
- Sectors
- Niche manufacturing, value-added distribution and specialty services
- Geography
- United States, preference for the Midwest
Controlling interest; deal value $0.5-20M; profitability preferred but not required
Source: lv2partners.com, checked 2026-10-26
Madison Lake Capital
Independent sponsor | Madison, WI
- EBITDA
- $3M to $15M
- Sectors
- Sector agnostic; interests in business services, manufacturing, B2B technology, supply chain/distribution
Lower-middle-market buyouts, divestitures/carve-outs, majority or partial recapitalizations
Source: madisonlakecapital.com, checked 2026-10-26
Mar Equity
Independent sponsor | Miami, FL
- Sectors
- Generalist
Source: marequity.com, checked 2026-10-26
Marion Park
Independent sponsor | Chicago, IL
- EBITDA
- $1M to $5M
- Sectors
- Business services: facility, commercial, engineering, environmental, HR, industrial, utility/telecom, professional
- Geography
- United States
Management, family or founder-owned business services companies
Source: marionparkllc.com, checked 2026-10-26
Mighty Acorns Capital
Search fund | Dallas, TX
- EBITDA
- $1M to $10M
- Sectors
- Established, profitable services companies
- Geography
- Texas
Steady growth in recurring revenue; retiring owner; principal will operate the company; 6-month owner transition recommended
Source: mightyacornscap.com, checked 2026-10-26
Millstone Holdings
Search fund | CT
- Sectors
- Generalist
- Geography
- Northeast (New England and the mid-Atlantic)
Established, profitable, owner-operated business at a transition (retirement); strong teams and relationships
Source: millstoneholdings.co, checked 2026-10-26
Moonlight Street
Traditional search fund | Cambridge, MA
- Sectors
- Generalist
One outstanding small business; long holding period (10+ years); backed by committed capital from experienced investors
Source: moonlightstreet.com, checked 2026-10-26
Moreland Partners
Independent sponsor | Bluffton, SC
- Revenue
- $25M to $250M
- Sectors
- Industrial processes, auto, food, building materials, data and information services, consumer services
Multi-generation family, founder and corporate (carve-out) owned manufacturing, service and franchise businesses; profitable with stalled growth
Source: morelandpartnersllc.com, checked 2026-10-26
New River Legacy Partners
Self-funded search
- EBITDA
- $400K to $1M
- Revenue
- $1.5M to $7.5M
- Sectors
- Pediatric therapy clinics (speech, occupational, physical; audiology welcome)
- Geography
- NC, SC, GA, TN or VA
Owner ready to sell; 10+ years operating, 15+ clinicians, strong management; 8%+ net margins
Source: newriver-lp.com, checked 2026-10-26
Next Haven Group
Search fund | Bayside, WI
- EBITDA
- $200K+
- Sectors
- Generalist
Growing, profitable (>$200K EBITDA), recurring revenue, low customer concentration; employee ownership; 5-10+ year hold
Source: nexthavengroup.com, checked 2026-10-26
Next Helm Capital
Independent sponsor
- EBITDA
- $1M to $10M
- Revenue
- $5M to $30M
- Sectors
- Industrial, environmental and specialty-services; testing, inspection and certification; specialty niche manufacturing; B2B software overlay
- Geography
- Texas and Southern U.S.
Platform investments where ownership is transitioning; founder-, family-owned, succession situations
Source: nexthelmcapital.com, checked 2026-10-26
Nordic Rock Capital
Search fund
- Sectors
- Generalist
- Geography
- Pacific Northwest
Owner ready to transition; no roll-up or quick resale; build on existing team
Source: nordicrockcapital.com, checked 2026-10-26
Old Brookewood Capital
Traditional search fund | Richmond, VA
- Sectors
- Services or products with durable, repeat customer demand
One established business with trained staff and systems; principal to run it as CEO
Source: oldbrookewood.com, checked 2026-10-26
Olive Row Partners
Traditional search fund | Atlanta, GA
- Sectors
- Healthcare, retail, business, technology, professional, transportation and industrial services
- Geography
- Southern or eastern United States
Cash flow $750K-$2M; 3-year profitability; recurring contract/subscription revenue; owner nearing retirement
Source: oliverow.partners, checked 2026-10-26
On Step Capital
Search fund
- EBITDA
- $850K to $1.3M
- Sectors
- B2B, industrials, specialized manufacturing
- Geography
- Hampton Roads region (Virginia)
Established B2B companies with recurring revenue and operational improvement potential; owner succession
Source: onstepcapital.com, checked 2026-10-26
OnboardIQ Capital
Search fund | Toronto, ON
- EBITDA
- $500K to $2M
- Sectors
- Healthcare services, utilities & essential services, specialized manufacturing, business services
- Geography
- Canada
One stable, profitable business with strong recurring revenue
Source: onboardiqcapital.ca, checked 2026-10-26
OpEdge Partners
Independent sponsor
- Sectors
- Fragmented, owner-operated business services
Lower-middle-market buy-and-build platforms with add-ons; operational improvement and growth; build exit-ready platforms
Source: opedgepartners.com, checked 2026-10-26
Ottawa Ventures
Search fund | Canada
- Sectors
- B2B services & trades, light manufacturing & distribution, niche technology & SaaS
- Geography
- Ottawa metropolitan area / Ottawa Valley
Established small businesses; confidential, principal-led process with committed capital
Source: ottawaventures.ca, checked 2026-10-26
Outsider Capital
Search fund | Toronto, ON
- EBITDA
- $1M to $10M
- Revenue
- $5M to $50M
- Sectors
- Manufacturing, distribution and tech-enabled services
- Geography
- Canada (Greater Toronto Area focus)
Full or majority sale; 3+ years stable earnings; recurring revenue; owner committed to continuity; primed for digital transformation
Source: outsidercap.com, checked 2026-10-26
Palmetto & Pine
Search fund | Matthews, NC
- Sectors
- Generalist
One business to buy and run as a full-time owner-operator; not a portfolio acquirer; willing to relocate to the company
Source: palmettoandpine.co, checked 2026-10-26
Paradosi Partners
Search fund | Sterling Heights, MI
- Revenue
- $2M to $50M
- Sectors
- Most industries: services, distribution, manufacturing, restoration
Founder- and family-held businesses; full sale or partner-first path; owners keep and run it, no resale plan
Source: paradosipartners.com, checked 2026-10-26
Pareto & Company
Independent sponsor | Elmhurst, IL
- EBITDA
- $3M to $15M
- Sectors
- Business services, B2B products, niche manufacturing in fragmented industries
Lower-middle-market buyouts with management staying involved; recurring revenue or clear path to it
Source: paretoandcompany.com, checked 2026-10-26
Pathfinder Growth Partners
Traditional search fund | Austin, TX
- EBITDA
- $2M+
- Revenue
- $5M+
- Sectors
- Business services, industrials, sports, healthcare; asset-light, service or tech-enabled
- Geography
- United States
EBITDA margin 20%+; transaction value $10M+; B2B or recurring revenue; owner seeking succession
Source: pathfindergrowthpartners.com, checked 2026-10-26
Pender Street Partners
Search fund | Vancouver, BC
- EBITDA
- $750K to $2M
- Revenue
- $4M+
- Sectors
- Generalist
- Geography
- Canada
$750K-2M EBITDA or >$4M revenue; 10%+ margins; 3+ years profitability; recurring revenue; customer <20%; retiring owner
Source: penderstreetpartners.com, checked 2026-10-26
Pennant Equity Partners
Independent sponsor | Marblehead, MA
- Sectors
- Tech-enabled services, manufacturing & distribution, healthcare, software/SaaS/data, niche consumer products
Principal investing as lead or co-investor, growth partnering and operating advisory
Source: pennantep.com, checked 2026-10-26
Pine Mill Partners
Search fund | Birmingham, AL
- EBITDA
- $750K+
- Sectors
- Generalist
- Geography
- Birmingham, AL and surrounding areas
Recurring revenue; diverse customers; low capex; owner seeking reduced role or exit and meaningful liquidity
Source: pinemillpartners.com, checked 2026-10-26
Preserve Equity Partners
Independent sponsor
- EBITDA
- $1M+
- Revenue
- Up to $20M
- Sectors
- Consumer brands, consumer products, eCommerce/DTC
- Geography
- Midwest and West Coast
Control buyouts; entrepreneur- and family-owned; fragmented industries with recurring revenue; preferred HQ Michigan for targets
Source: preserveequitypartners.com, checked 2026-10-26
Purple Sector Succession Capital
Search fund | Hamilton, ON
- EBITDA
- $1M to $3M
- Sectors
- Generalist
- Geography
- Southern Ontario (within ~1 hour of Hamilton)
One outstanding business with founder seeking the right steward
Source: purplesectorcapital.com, checked 2026-10-26
Pygmalion Capital
Search fund | Canada
- EBITDA
- $750K to $3M
- Revenue
- $3M to $30M
- Sectors
- Industrial and manufacturing businesses
- Geography
- Ontario, Canada
One manufacturing business held long term with an operator in the chair; no plan to flip
Source: pygmalioncap.com, checked 2026-10-26
Quadec Private Capital
Independent sponsor | Birmingham, MI
- EBITDA
- $2M to $20M
- Sectors
- Manufacturing, distribution, business services, industrial & infrastructure services
- Geography
- United States, preference for Midwest and Central regions
Owner liquidity with meaningful equity rollover; recurring revenue; fragmented markets for add-ons; low customer concentration
Source: quadecpc.com, checked 2026-10-26
Rannerdale Capital
Independent sponsor | New York, NY
- EBITDA
- $1M to $3M
- Sectors
- Niche industrials, housebuilding, hospitality, real estate, retail, food chain and agriculture; open to others
- Geography
- United States
Buyouts, recapitalizations and growth equity; majority not required; no finite fund life, flexible hold
Source: rannerdale.com, checked 2026-10-26
RBI Partners
Independent sponsor | Edmonton, AB
- Sectors
- Business services, industrial, SaaS, distribution
- Geography
- Western Canada
EBITDA $2M-$5M (currency not stated); founder exits, succession, carve-outs; operator-led; also offers fractional CFO and M&A execution services
Source: rbipartners.ca, checked 2026-10-26
Revendar Equity Partners
Independent sponsor | Dallas-Fort Worth, TX
- EBITDA
- $1M to $10M
- Revenue
- $5M to $50M
- Sectors
- B2B manufacturing-based companies, specifically building products
- Geography
- Texas
Founder- or family-operated businesses with a track record of EBITDA
Source: revendar.com, checked 2026-10-26
Riverstone Capital
Search fund | Canada
- EBITDA
- $500K to $2M
- Sectors
- Generalist
- Geography
- Greater Toronto Area
10+ years in business, profitable 5+ years; EBITDA margin >=20% (services/mfg) or >=15% (distribution); low turnover
Source: riverstonecapital.ca, checked 2026-10-26
Rockland Heritage
Search-style holding company | Watertown, MA
- Sectors
- Generalist
Established small and mid-sized businesses with proven cash flows, loyal customers and defensible positions; clean exit or phased transition
Source: rocklandheritage.com, checked 2026-10-26
Saga Growth Partners
Traditional search fund | Nashville, TN
- Sectors
- Generalist
Owners seeking to transition an exceptional small business to the next generation of entrepreneurs
Source: sagagrowth.com, checked 2026-10-26
Savade Holdings
Independent sponsor | Newton, MA
- Sectors
- Healthcare, education and workforce development
Mid-scale, already-strong companies; partners with founders and management seeking a long-term home
Source: savadeholdings.com, checked 2026-10-26
Scooter Partners
Independent sponsor
- Sectors
- Generalist
- Geography
- U.S.
Source: scooterpartners.com, checked 2026-10-26
Seven Bridges Holdings
Search fund | WI
- Sectors
- Service-based (home or B2B) or light manufacturing
- Geography
- Within 90 miles of Milwaukee, Wisconsin
$500K-$1.2M SDE; established 8+ years; consistent margins, not turnarounds; low owner dependency; SBA 7(a) financed
Source: sevenbridgesholdings.com, checked 2026-10-26
Sheriff & Co.
Independent sponsor
- Sectors
- Generalist
Control investments in founder and family-owned businesses; acquisitions and recapitalizations
Source: sheriffandco.com, checked 2026-10-26
Signal Rock Capital
Independent sponsor | Fort Lauderdale, FL
- EBITDA
- $1M to $5M
- Sectors
- B2B industrial services, infrastructure services and consumer services
Family and generational transitions, shareholder liquidity; majority and minority ownership; recurring revenue, low customer concentration
Source: signalrockcap.com, checked 2026-10-26
Sill & Stone
Search fund | OH
- Revenue
- $1.5M to $6M
- Sectors
- Field services & trades, light manufacturing/fabrication, B2B, compliance/maintenance services, niche distribution
- Geography
- Ohio
SDE $450K-900K; capable team; recurring or repeat revenue; clean financials
Source: sillandstone.com, checked 2026-10-26
Silvaner Capital
Search fund | Austin, TX
- EBITDA
- $500K to $4M
- Revenue
- $2M to $20M
- Sectors
- B2B or B2C services, consumer products, light manufacturing, healthcare, software
- Geography
- Texas
Owner retiring or transitioning out of day-to-day operations; recurring customers; low capex; legacy preservation
Source: silvanercapital.com, checked 2026-10-26
Snow Raven Capital
Search fund | Denver, CO
- Revenue
- $2M+
- Sectors
- Real estate & home services, specialty auto, distribution & logistics, commercial cleaning, travel, education
- Geography
- Mountain West
Founder-owned; $600K+ profit; 3+ years profitability; recurring sales; low customer concentration
Source: snowravencapital.com, checked 2026-10-26
Spruce Legacy Partners
Traditional search fund | Wayne, PA
- EBITDA
- $2M+
- Sectors
- Mission-critical product or service
10+ year track record; recurring revenue; >15% EBITDA margin; low capex; co-founders based in Wayne, PA and New Jersey
Source: sprucelegacypartners.com, checked 2026-10-26
St. Thomas Capital Partners
Independent sponsor | Miami, FL
- EBITDA
- $2M to $8M
- Sectors
- Independent pharmacy, healthcare services, essential services, specialty manufacturing, software
- Geography
- Nationwide, focus on Southeast and Sun Belt
Founder-owned and family-owned businesses
Source: stthomascapital.com, checked 2026-10-26
Stackallan Partners
Self-funded search | San Francisco, CA
- EBITDA
- $500K to $1.5M
- Sectors
- Open to most industries; retail excluded
- Geography
- Within 90 miles of San Francisco (Northern California)
Consistent revenues and profitability; hands-on long-term ownership
Source: stackallanpartners.com, checked 2026-10-26
Star Course Holdings
Traditional search fund | Charlotte, NC
- Revenue
- $5M to $30M
- Sectors
- Generalist
- Geography
- Carolinas
Single outstanding business with strong growth potential; founder provides hands-on daily leadership; backed by investing partners
Source: starcourseholdings.com, checked 2026-10-26
Stirgus Capital
Search fund | Chicago, IL
- EBITDA
- $500K+
- Sectors
- Business-to-business services
- Geography
- Chicago and surrounding areas
Mature businesses (15+ years), consistent profitability, minimum $500K pre-tax profit; owner transitions
Source: stirguscapital.com, checked 2026-10-26
StoneCreek Capital
Independent sponsor | Fort Worth, TX
- EBITDA
- $3M to $15M
- Sectors
- Business services, media & entertainment, aerospace & defense, manufacturing, experiential marketing, distribution, retail/restaurant
Change-in-control buyouts from founders, families, PE portfolios, corporate spinoffs; EV $10-100M; 10%+ EBITDA margins; also office in Newport Beach, CA
Source: stonecreekcapital.com, checked 2026-10-26
Stratford Hill Capital
Self-funded search | Boulder, CO
- Sectors
- Generalist
- Geography
- Western United States
Single local business with history of profitability and growth and strong community ties; owner ready for next chapter
Source: stratfordhill.com, checked 2026-10-26
Succession FLE Capital
Search fund
- Sectors
- Generalist
- Geography
- San Diego area
Enduringly profitable small business / sole proprietorship; seeking investors and advisors
Source: successionflecapital.com, checked 2026-10-26
Sulidae Capital
Search fund | Canada
- EBITDA
- $250K to $750K
- Revenue
- $1M to $5M
- Sectors
- B2B services, specialized trades (HVAC, plumbing, electrical, light manufacturing), marine services
- Geography
- British Columbia (Lower Mainland & Vancouver Island)
Revenue and cash flow (SDE/EBITDA) stated in CAD; profitable, essential businesses
Source: sulidae.ca, checked 2026-10-26
Summitara Holdings
Independent sponsor
- EBITDA
- $2.5M to $10M
- Sectors
- Established, profitable essential-services businesses
- Geography
- Northeastern United States only
Enterprise value $5M-$20M+; family- and founder-owned
Source: summitara.com, checked 2026-10-26
Sunset Legacy Partners
Traditional search fund | Los Angeles, CA
- EBITDA
- $1M to $10M
- Revenue
- $5M to $50M
- Sectors
- Generalist
Majority (50%+) recurring revenue; lead and grow one business long term
Source: sunset-legacy.com, checked 2026-10-26
Sycamore Bridge
Search fund | Chicagoland, IL
- EBITDA
- $500K to $2M
- Revenue
- $2M to $10M
- Sectors
- Generalist
- Geography
- Within 60 miles of Chicago
Founder/family-owned, 5 years of profitability, recurring revenue, tenured management; owner retiring (cash flow $500K-$2M)
Source: sycamorebridgellc.com, checked 2026-10-26
Taconic Ridge Partners
Traditional search fund | Philadelphia, PA
- EBITDA
- $1M+
- Sectors
- Insurance services (MGAs, TPAs, claims, agencies) and asset/wealth management services
- Geography
- East of the Mississippi (Northeast, Mid-Atlantic, Southeast, Midwest)
Founder-led or family-owned, majority available, recurring revenue, no customer concentration; backed by search fund investors
Source: taconic-ridge.com, checked 2026-10-26
Tar River Legacy Partners
Traditional search fund | Charlotte, NC
- Sectors
- Generalist
Acquire and operate one business; investor-backed; states capacity to fund transactions of $10M-$100M+; flexible seller terms
Source: tr-lp.com, checked 2026-10-26
Terra Mar Search
Traditional search fund | Birmingham, AL
- Sectors
- Aviation maintenance, equipment/infrastructure maintenance, field services, TIC, workforce training
- Geography
- Southeastern US; Alabama preferred
$10-50M enterprise value; predictable revenue; long-term customers; tenured employees
Source: terramarsearch.com, checked 2026-10-26
Three Zero Growth
Search fund | Fontana-on-Geneva Lake, WI
- EBITDA
- $500K to $5M
- Revenue
- $3M to $20M
- Sectors
- Sector agnostic; B2B businesses where stronger commercial execution can drive growth
- Geography
- Wisconsin
Founder-owned, 10+ years, recurring/repeat customers, owner succession; majority buyout with founder roll-over
Source: threezerogrowth.com, checked 2026-10-26
TriplePoint Equity
Independent sponsor
- EBITDA
- $1M to $5M
- Sectors
- Industry agnostic, durable non-cyclical businesses
Stable small businesses with predictable cash flow and defensible position; key team stays; partners with Owner-CEOs
Source: triplepointequity.com, checked 2026-10-26
Tristela Capital Partners
Independent sponsor | Nashville, TN
- Sectors
- Healthcare services
Acquisitions of lower-middle-market healthcare services companies; physician-led
Source: tristela.com, checked 2026-10-26
True Path Capital
Independent sponsor | West Harrison, NY
- EBITDA
- $2M to $7M
- Sectors
- Education, workforce, healthcare services, staffing and other people-intensive businesses
- Geography
- North America
Majority control; ownership transitions, recapitalizations, carve-outs; rollover welcome; software from $1M EBITDA
Source: truepathcapital.com, checked 2026-10-26
Tucannon Partners
Traditional search fund | Austin, TX
- Sectors
- Generalist
Majority investment in one company; founder manages it full-time; owners planning succession or retirement
Source: tucannonpartners.com, checked 2026-10-26
TWG Capital
Independent sponsor
- EBITDA
- $1M+
- Revenue
- $10M to $100M
- Sectors
- Industry agnostic, leaning into sectors with team experience
- Geography
- U.S. based
Growth capital and buyouts; experienced management teams
Source: twgcap.com, checked 2026-10-26
Two Oceans Ventures
Search fund | Vancouver, BC
- EBITDA
- $3M to $7M
- Sectors
- Generalist
Full or majority sale; recurring revenue; low churn; defensible niche; growing or fragmented industry; decades-long hold
Source: twooceansventures.com, checked 2026-10-26
Two Trails Partners
Traditional search fund | Reston, VA
- Sectors
- Generalist
- Geography
- United States
Profitability over $1.5M/yr; recurring revenue; majority acquisition with flexible terms
Source: twotrailspartners.com, checked 2026-10-26
Vesalius Partners
Traditional search fund | Chicago, IL
- Sectors
- Healthcare and life sciences services
- Geography
- United States (searching nationally)
$10-40M enterprise value; one company held for years, operated by the founders
Source: vesaliuspartners.com, checked 2026-10-26
Vintage Stone Capital
Independent sponsor | Mt Laurel Township, NJ
- EBITDA
- $5M to $15M
- Sectors
- Industrial: distribution, services, light manufacturing
Enterprise value $25-75M for platform investments; operational modernization thesis
Source: vintagestonecapital.com, checked 2026-10-26
Viridian Pacific Capital Partners
Independent sponsor | El Segundo, CA
- EBITDA
- $2M to $10M
- Sectors
- Business and commercial services, healthcare services, manufacturing and industrial
- Geography
- Southern California first; right deal elsewhere considered
Founder- and family-owned, profitable; founded 2026; hold long term
Source: viridianpacificcapital.com, checked 2026-10-26
Waypoint Summit Ventures
Search fund | CO
- Sectors
- B2B service businesses
One exceptional B2B service business; operator steps in full-time; long-term hold
Source: waypointsv.com, checked 2026-10-26
Wherewithal Partners
Independent sponsor
- Sectors
- Under-appreciated B2B service-based industries; recurring revenue, essential services, industries in active consolidation
- Geography
- Canada and the United States
C$1-10M EBITDA, may pursue larger; raises discrete equity capital for each opportunity from family offices, institutions and HNW individuals
Source: wherewithalpartners.com, checked 2026-10-26
Whitecroft Partners
Traditional search fund | Canada
- EBITDA
- $1.5M to $5M
- Sectors
- Generalist
- Geography
- Ontario
$1.5-5.0M annual cash flow; stable profitability; owners seeking liquidity and succession; active management post-close
Source: whitecroftpartners.ca, checked 2026-10-26
Wild Rose Legacy
Search fund | Charlottesville, VA
- Sectors
- Generalist
- Geography
- Central Virginia
Small to medium-sized business to own and operate long term; works with brokers and lenders
Source: wildroselegacy.com, checked 2026-10-26
Wilmington Enterprises
Self-funded search
- EBITDA
- $750K to $2M
- Sectors
- Non-cyclical, non-seasonal B2B/B2C service firms in 'old economy' industries with low tech reliance
- Geography
- Metro Atlanta (<$500K EBITDA); Southeast (>$500K EBITDA)
15-year track record; moderately recurring revenue, low customer concentration; retiring owner; indefinite hold
Status unverifiedSource: wilmingtonenterprises.com, checked 2026-10-26
Winding Lane
Search-style holding company | Boston, MA
- Sectors
- Critical power field services: UPS/battery, generator, electrical testing, critical facility services
Long-term hold, brand kept; first platform acquired 2025 and actively pursuing more; offices in Boston and New York
Source: winding-lane.com, checked 2026-10-26
Zambezi Ventures (ZMBZ Ventures)
Search fund | Greenville, NC
- EBITDA
- $150K+
- Revenue
- $700K+
- Sectors
- Medical transport / ambulance / NEMT businesses
- Geography
- Central & Eastern NC (2.5-hour radius of Greenville, NC)
Transitioning owner; EBITDA/SDE >$150K; B2B non-brokered with facility contracts or recurring private-pay clients
Source: zmbzventures.com, checked 2026-10-26
Zone Two Capital
Search fund | Cincinnati, OH
- EBITDA
- $500K to $1.5M
- Sectors
- Essential services, light manufacturing, B2B services
- Geography
- Greater Cincinnati area
Owner ready to sell who cares about legacy; employees retained; full-time owner-operator, long-term
Source: zonetwocapital.com, checked 2026-10-26
Share of search funds tagging each sector; a firm can have several.
What an independent sponsor is and how it finances a deal
An independent sponsor is a private equity professional, or a small team, that finds and negotiates an acquisition before it has the money to pay for it. Instead of drawing on a committed fund, the sponsor raises equity for each transaction after a target is under letter of intent, usually from family offices, high-net-worth investors, mezzanine and junior capital funds, and a growing number of funds that specialize in backing independent sponsors.
The sponsor typically contributes a modest amount of its own capital, earns a closing fee and an ongoing management or monitoring fee, and receives a carried interest (a promote) that grows with the equity investors' returns. Senior debt comes from banks or private credit lenders in the usual way. Because the capital is raised deal by deal, a seller should ask early who the expected equity and debt providers are and whether they have already reviewed the opportunity.
For how these buyers compare with strategic acquirers, private equity funds and family offices, see Who buys lower middle market companies: buyer types compared.
What a search fund is and how it finances a deal
A search fund is a vehicle through which one or two entrepreneurs, usually early in their careers, look for a single private company to buy and then run as chief executive. In a traditional search fund, a group of investors pays the searcher's salary and expenses during the search in exchange for the right to invest in the eventual acquisition. When a target is found, the same investors are offered the acquisition equity, and the searcher earns a stake that vests over time and with performance.
Self-funded searchers pay their own search costs and then finance the purchase with a mix of their own equity, outside investors and debt. Many smaller self-funded deals use SBA 7(a) loans, which allow changes of ownership as an eligible use and have a maximum loan amount of $5 million according to the U.S. Small Business Administration. Seller notes and earn-outs are common in both models. For an owner, the defining feature is succession: the buyer intends to move to the company and lead it day to day.
For how these buyers compare with strategic acquirers, private equity funds and family offices, see Who buys lower middle market companies: buyer types compared.
Frequently asked questions
What is the difference between an independent sponsor and a search fund?
An independent sponsor is an experienced dealmaker who acquires companies and raises equity for each deal, then typically oversees the business from the board with a management team in place or recruited. A search fund is a vehicle for an entrepreneur who intends to buy one company and run it personally as CEO. Independent sponsors often pursue somewhat larger companies and may complete several deals; searchers usually acquire one business.
Are these buyers less certain to close than a private equity fund?
Both raise equity after agreeing terms with the seller, so the risk sits in financing rather than in intent. Certainty varies widely by sponsor or searcher. Ask for prior closed transactions, the names of the equity and debt providers expected to fund the deal, and whether those providers have already seen the opportunity.
How were firms selected for this directory?
Each entry was found through public sources, such as Axial's independent sponsor directory, and then verified on the firm's own website on the date shown; every field comes from that website. Independent sponsors are included only if their site describes them as an independent or fundless sponsor or as investing deal by deal. Search funds are included if their site describes a search for one business to acquire and operate. Firms whose sites did not load were excluded.
Does inclusion mean Laurent Capital recommends a firm?
No. The directory is a research resource compiled from public information. Laurent Capital has not vetted the firms' capital, track record or conduct, and inclusion is not an endorsement. Sellers should run their own diligence on any buyer.
My firm is listed incorrectly or missing. How do I update it?
Use the contact form and include your website and the page where your criteria are published. We update entries from the firm's own website and recheck the directory periodically.
Can I download the data?
Yes. The full directory is available as a CSV file with the source page and check date for every entry. You may reuse it with attribution and a link to this page.
Methodology and sources
Laurent Capital Research compiled this directory from public sources in October 2026. Candidate firms were identified through web searches, conference and investor lists, press coverage and, for independent sponsors, Axial’s public independent sponsor directories. Those lists were used only to find candidates: whether a firm is included, and every field shown for it, comes from the firm’s own website. Only firms whose website loaded on the check date are included. The directory lists 63 independent sponsors and 120 search funds.
Coverage and limits of this edition
The directory is deliberately conservative. Many firms that third-party listings call independent sponsors do not describe themselves that way on their own websites, and we left them out rather than rely on a secondary source; six candidates were removed on a second check in the first edition, and Pillsman Partners was left out of the October 27 update because its site implies a deal-by-deal model without stating it. The October 27 update added 31 independent sponsors, including the first sponsors headquartered in the western United States and Canada. Coverage there is still limited: 2 listed sponsors publish a headquarters in a western state and 2 in a Canadian province, and several others with a western focus publish no headquarters at all. The independent sponsor list is therefore a verified sample, not a census of the market. Search fund coverage spans the United States and Canada. We will add firms as they are verified.
Two judgment calls in the update: ALAMidas Capital Partners is listed because its site says it invests deal by deal; it mentions a committed fund only as a future goal. Concorde Equity Partners is listed as an independent sponsor, the term it uses for itself, rather than as a search fund, because it recruits outside entrepreneurs to run the businesses it acquires.
Inclusion criteria
- Independent sponsors: the firm’s website describes it as an independent sponsor, a fundless sponsor, or an investor that raises capital deal by deal, and it targets private companies in the United States or Canada.
- Search funds: the website describes one or more entrepreneurs seeking to acquire and operate a business, whether investor-backed (traditional), self-funded, or organized as a search-style holding company. Searchers whose sites say they have completed an acquisition and stopped searching were excluded; where a site did not say whether the search is ongoing, the entry is marked status unverified.
- Committed-fund private equity firms, permanent-capital family offices that do not describe themselves as independent sponsors, intermediaries and lenders were excluded.
Fields and rules
- Headquarters, size ranges, sectors, geography and other criteria come only from the firm’s own website. Fields a firm does not publish are left blank rather than estimated.
- Headquarters is left blank when the only location evidence is a third-party listing such as Axial or LinkedIn, when a site lists several offices without naming a headquarters, or when it gives only a registered-agent address.
- Size ranges are in U.S. dollars, in millions, as published. Ranges published in Canadian dollars or without a currency are kept in the criteria text and left out of the size fields and statistics. Sector focus was mapped to eleven broad categories; firms describing themselves as industry-agnostic are tagged Generalist.
- The EBITDA filter shows firms whose published range overlaps the selected band. Summary statistics such as the median published minimum EBITDA are computed only over firms that publish that figure.
- No personal contact details are collected. Each entry links to the firm’s website and to the page used as the source.
Firms change their criteria, complete acquisitions and close. Check the firm’s website before relying on an entry. This directory is for information only and is not an endorsement of any firm or investment advice.
- 1Each listed firm's own website. The page URL read for every entry is in the source_url column of the CSV
- 2Axial, independent sponsor directory. Used only to discover candidate firms; no field in the directory is taken from it; retrieved 2026-10-26
- 3U.S. Small Business Administration, 7(a) loans. Maximum loan amount and eligible uses, including changes of ownership; retrieved 2026-10-26
- 4Stanford Graduate School of Business, 2026 Search Fund Study: Selected Observations (case E967). Background reading on the search fund model; no figures from it are used in this directory
- 5Laurent Capital, Who buys lower middle market companies: buyer types compared
Data last updated 2026-10-27.
183 rows, one per firm, with source URL and check date. License CC BY 4.0.
Cite this research
You may quote and republish figures from this page with attribution and a link to the source.
Citation
Laurent Capital Research, “Directory of Independent Sponsors and Search Funds in North America (2026),” 2026, https://laurent.capital/research/buyer-directoryLink (HTML)
<a href="https://laurent.capital/research/buyer-directory">Directory of Independent Sponsors and Search Funds in North America (2026)</a> (Laurent Capital)Weighing offers from independent sponsors or searchers?
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