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Independent Sponsor Investing
We partner with experienced operators and aligned investors to acquire high-potential Canadian businesses with $1–3M EBITDA.
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Independent Sponsor / M&A Advisory / Toronto
We acquire, advise, and invest in Canadian essential-services businesses to help them unlock growth.
For over 15 years we've partnered with founders and management teams to accelerate growth and execute high-impact transactions — combining investment-banking rigor, private-equity value creation, and hands-on operating experience.
15+
Years partnering with founders across the lower-middle market
$5B+
In aggregate transaction value executed across our principals' careers
76%
Of Canadian business owners plan to exit in the next 10 years
4.5×
Avg. MOIC for search funds — 2024 Stanford Search Fund Study
What We Do
Three ways we partner with founders and operators.
Each engagement starts with the founder's goals — exit, growth, succession, or roll-up — and we structure capital, advisory, and operating support around the outcome.
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Value Creation Advisory
For founders looking to grow or prepare for exit, we bring strong operational and financial discipline focused on EBITDA growth.
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Buy-Side M&A Execution
From sourcing through diligence, negotiation, and integration — for strategic buyers and PE-backed roll-ups.
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Four verticals. One thesis: essential services Canada can't operate without.
Stable, recurring revenue. Regulatory tailwinds. Fragmented ownership. Aging founder base. The conditions for thoughtful consolidation are all here.
Environmental & Waste Management
Hauling, recycling, hazardous waste, water and septic services, environmental remediation.
Built Environment & Facilities
Mechanical, electrical, plumbing, HVAC service, building automation, facility maintenance.
Industrial & Manufacturing
Specialty manufacturing, industrial distribution, value-added fabrication, light assembly.
Energy & Infrastructure
Distributed energy, pipeline and grid services, infrastructure construction and maintenance.
Our Approach
Investment-banking rigor. PE value creation. Operator hands.
A boutique team that has scaled businesses past $100M and executed transactions totaling more than $5B — but we focus on the metrics that matter to the next operator and the next year.
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Founder-aligned capital
Rollover equity, earn-outs, and seller financing structured to keep founders winning post-close.
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Operating playbook on day one
100-day plans focused on commercial process, finance maturity, and team build — not financial engineering.
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Patient time horizon
We're independent sponsors, not a clock-watching fund. We hold for the right outcome, not the right vintage.
Selected Work
A track record built across both sides of the table.
Our principals have led acquisitions, sales, and value-creation programs across Canadian essential-services businesses. Selected highlights below.
Project Cascade
Active platformOntario environmental services platform. Acquired alongside operator-CEO; pursuing a three-acquisition roll-up over 36 months.
Project Forge
ExitedSpecialty industrial fabrication firm advised on sale to strategic acquirer. Closed at 8.2× EBITDA.
Project Atlas
AdvisoryBuy-side mandate for PE-backed facility services platform. Sourced and executed two add-on acquisitions in the GTA.
Are you a founder thinking about your next chapter?
Whether you're exploring a sale in 12 months or in five years, the earliest conversations are the most useful ones — for both of us.
Book a 30-min Intro