Patient capital.Long-term commitment.
We buy great Canadian businesses from founders ready to step back, and we hold them for the long term.
A different kind of private equity firm
Most private equity firms run on a fund cycle: buy, improve, sell. We buy to hold. We have no planned exit date, and we structure each deal for a long hold.
That lets us work like owners. We roll up our sleeves with your management team to grow the company: sharpening strategy, recruiting talent, and investing in the technology and systems that modernize how it runs.
Our goal is a business that outlasts the transition. We protect what the founder built, strengthen what needs it, and set the company up for its next generation of success.
More than capital
Our investment criteria
If your company fits most of this, we would like to talk.
- EBITDA
- $3–15M in normalized, recurring earnings.
- Geography
- Headquartered in Canada.
- Situation
- A founder planning retirement, an estate transition, or a partner buyout.
- Business
- A defensible market position, recurring customers and a capable management team.
- Sectors
- B2B services, Hardware + Software, Healthcare services, Real estate services, Technology-enabled businesses, Specialty manufacturing and distribution.
- Hold period
- We buy to hold. We have no planned exit date, and we structure each deal for a long hold.
What to expect from us
-
Patience
We buy to hold. We have no planned exit date, so we do not need to sell your company on a set date.
-
A builder's mindset
We buy to hold and to build, investing in growth, talent and technology for the long run.
-
Backing your people
We invest alongside management and the team that built the business, and share the upside with them. How employee ownership works.
How we work with sellers
Typical timeline: 10–30 days from first conversation to letter of intent, and 60+ days from letter of intent to close.
- 01
A first conversation
A confidential discussion, with no deck and no pressure. We learn about your business, your timeline and what matters most to you.
- 02
NDA and information
Once there is mutual interest, we sign an NDA and review financial and operating information at your pace.
- 03
Letter of intent
If we agree on value and structure, we put our proposed terms in a clear, non-binding letter.
- 04
Diligence
Focused and respectful. We ask the questions that matter and keep the burden on your team low.
- 05
Close
We aim to close on the terms we agreed, and we flag any change early and in writing.
- 06
The first 100 days
We work beside your management team on a practical plan that protects culture, steadies operations and finds early wins.
What happens after we buy
Our value creation plan works on four areas, agreed with your management team.
- 01
Vision
We agree with you and the management team where the company is going over the next five years, and what it will take to get there.
At Iris Booth, the plan centres on bringing accessible professional headshots to millions of students and professionals.
- 02
People
We strengthen the leadership team and share equity with the employees who help build the business.
At Iris Booth, we brought in Brandon Ghaeli, a former Shopify director, as CEO, while the founder stays involved at the board level.
- 03
Systems & Technology
We modernize the tools and processes the business runs on, so it can grow without strain.
At Iris Booth, we introduced a new AI-enabled CRM.
- 04
Capabilities
We add skills the company lacks, such as finance, sales or technology, from our team and network.
At Iris Booth, we rebuilt the company's tech stack.
How do you value my company?
We start with the company's earnings and how dependable they are: recurring customers, margins, growth, and how much of the business depends on you. We then explain our thinking in plain terms so you can judge the offer, and we are open to discussing it.
Will my team stay?
That is our intent. We buy businesses for their people and their customers, and we expect to build with your management team, not replace it. Equity for managers and employees is a standard part of how we structure deals.
What happens to our employees' equity?
Employees can share in the company's growth through equity, on terms set for each company and explained in writing. See how employee ownership works at Rundle on our employee ownership page.
Can I keep a stake in the company?
Yes. Many sellers keep a stake by rolling part of their proceeds into the business, so they share in what comes next. We will walk through the structure with you.
Will the company keep its name and location?
Generally, yes. A company's name, brand and locations are part of what makes it valuable, and we have no plan to change them. If something matters to you, we will talk about it early.
What happens to me after the sale?
That depends on what you want. Some founders stay on for a transition, some remain shareholders by rolling part of their proceeds into the business, and some step back fully. We plan it with you.
How long will you own the company?
We buy to hold. We have no planned exit date, and we structure each deal for a long hold.
How is the purchase paid for?
Deals are typically funded with a mix of debt and equity, and many sellers keep a stake by rolling part of their proceeds into the business. We will walk through the structure with you.
Is our conversation confidential?
Yes. We begin with a confidential conversation, and we sign an NDA before reviewing any company information.
What kind of company do you buy?
Canadian companies with $3–15M of EBITDA, usually where an owner is planning retirement, an estate transition, or a partner buyout. See our criteria above for the full picture.
What does it cost to talk?
Nothing. There is no obligation, and no pressure.
Thinking about business succession?
We would like to hear about your business. There is no obligation and no pressure.
Start a conversation