Criteria
Acquisition criteria
We acquire control of profitable, owner-operated B2B service businesses in the Sunbelt. These are guidelines, not rules. A strong business that misses one is still worth a call.
At a glance
- EBITDA
- $500K – $5M, normalized
- Revenue
- $5M – $50M
- Geography
- Arizona, Nevada, Florida; adjacent Sunbelt markets opportunistically
- Sector
- B2B services with recurring or repeat revenue (six sectors, below)
- Recurring revenue
- More than 50% recurring or contracted
- Customer concentration
- No customer above 25%; under 15% preferred
- Operating history
- 5+ years; 10+ preferred
- Team
- 5 – 75 employees; non-owner manager in place
- Ownership
- Control acquisitions
- Seller transition
- 6 – 24 months, consulting role
- Hold period
- Permanent
- Process
- Go / no-go within 24 hours of financials; LOI in 1–2 weeks; 30–45 days of diligence; close 2–4 weeks after diligence; clean LOIs; no retrading; principal-only
What we buy
B2B service businesses with recurring or repeat revenue, simple operations, and customers who need the work done whether the economy is up or down.
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Commercial cleaning and facility services
Janitorial and facility maintenance on multi-year contracts.
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Essential trades
HVAC, plumbing, and electrical with maintenance agreements. Service-led, not project-heavy.
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Commercial landscaping and grounds
Monthly route contracts, commercial over residential.
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Pest control and compliance services
Commercial pest control, fire and life safety inspection, backflow testing, and grease trap service.
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Staffing
Commercial, light industrial, and IT contract staffing with a W-2 workforce.
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Business process and admin services
Outsourced back-office, billing, and records services on retainer or subscription.
What we look for
- Real cash flow. Three years of P&Ls and tax returns, with add-backs we can support.
- Durable demand. Recurring contracts, memberships, or repeat B2B work.
- A manager in place. A general manager or operations lead who stays after the sale.
- Transferable licenses and contracts. Licenses held by someone who stays; customer contracts and leases that can be assigned.
- A clean handoff. An owner willing to introduce key customers and stay involved through the transition.
What isn’t a fit
- Inventory-heavy distribution, e-commerce and direct-to-consumer brands, creative and marketing agencies, consulting firms, restaurants and hospitality, early-stage software, clinical and medspa practices, and franchise-fee models.
- Businesses with more than 40% of revenue tied to new construction.
- A single customer above 40% of revenue without a multi-year contract.
- Licenses that leave with the seller, or a business that needs a full-time owner-operator.
- Revenue declining for two or more years without a clear explanation.
What we are not
- Not a fund on a clock. No fundraising deadline and no fixed exit date.
- Not a flipper. We buy to hold. The default holding period is permanent.
- Not a passive allocator. We are engaged owners who back the management team.
Start a conversation.
Owners, brokers, and advisors: send a short note. Every inquiry gets a reply.
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