Our Sectors
Four sectors. One focus.
Each sector below is where we run M&A mandates, originate acquisitions, and arrange capital. Our relationships with owners, buyers, and capital sources run deepest here.
01 · B2B & Professional Services
B2B & Professional Services
Recurring, contract-based services sold to other businesses. Outsourced finance, IT, compliance, engineering, and specialized consulting, where retained clients and credentialed teams drive value.
Core focus · The niches we work in
Within B2B and professional services, these are the businesses we sell, acquire, and finance most often.
Accounting & Outsourced Finance
Bookkeeping, controller, and fractional CFO firms with monthly retainers and low client churn. Buyers pay for recurring fees and a team that can run without the founder.
IT, MSP & Cybersecurity
Managed IT and security providers with contracted monthly revenue and high switching costs. Valued on managed services mix, certifications, and client retention.
Compliance, Risk & Regulatory
Mandated services businesses must buy to operate. Steady demand, high renewal rates, and accreditations that are hard to replicate.
Engineering & Technical Services
Licensed, project-based firms tied to infrastructure, energy, and construction spending. Valued on backlog, licensed staff, and repeat clients.
Specialized BPO
Outsourced back-office functions run under multi-year contracts. Attractive for long relationships, low churn, and margins that hold at scale.
Insurance & Risk Services
Agencies, brokers, and claims and risk services with renewable commission and fee income. Buyers value retention rates and carrier relationships.
Healthcare Business Services
The outsourced services that keep providers running. Contract revenue tied to patient volume, with compliance expertise as the moat.
Specialized Consulting
Expert firms with a defined niche, repeatable engagements, and senior talent clients return to. Valued on utilization, repeat revenue, and bench depth.
Typical businesses
What buyers look for
- Recurring, contracted revenue
- Low customer concentration
- Certified, credentialed teams that stay
- Margins that hold as the business scales
02 · Industrials & Essential Services
Industrials & Essential Services
Non-discretionary services and specialty industrial businesses that keep facilities, utilities, and infrastructure running. Regulated, route-based, and recurring, with clear add-on potential for platforms.
Core focus · The niches we work in
Within industrials and essential services, these are the businesses we sell, acquire, and finance most often.
Industrial Maintenance & Repair
Contract maintenance for plants, equipment, and facilities. Recurring service agreements, technician depth, and long customer tenure.
Testing, Inspection & Certification
Mandated third-party testing with accreditation barriers. Repeat work tied to regulation, not the economic cycle.
Environmental Services
Regulated waste, remediation, and compliance services with recurring contracts and permits competitors cannot easily obtain.
Water & Wastewater Services
Treatment, testing, and infrastructure services for municipalities and industry. Long contracts, essential demand, and rate-backed customers.
Commercial HVAC & Mechanical
Service-first mechanical contractors with maintenance agreements across commercial and institutional buildings. Valued on service mix over new construction.
Electrical & Power Services
Electrical contractors and power services with recurring maintenance and infrastructure-driven demand.
Utilities & Infrastructure Services
Outsourced work for utilities and infrastructure owners under master service agreements. Multi-year visibility and essential demand.
Fire & Life Safety
Code-required inspection, testing, and monitoring with recurring contracts and high renewal rates.
Specialty Distribution & Manufacturing
Niche distributors and manufacturers with proprietary products, technical sales, and sticky customer relationships.
Typical businesses
What buyers look for
- Maintenance agreements and recurring service revenue
- Licenses, accreditations, and safety record
- Technician depth and retention
- Dense service territories with room to add on
03 · Healthcare Services
Healthcare Services
Provider practices, care delivery, and the services that support them. Physician, dental, behavioral, home-based, rehabilitation, and outpatient care, plus healthcare business and life sciences services.
Core focus · The niches we work in
Within healthcare services, these are the businesses we sell, acquire, and finance most often.
Dental
General and specialty practices consolidating into DSOs. Valued on provider retention, hygiene recall, and payer mix.
Physician Practices
Specialty and multi-site groups with recurring patient volume. Buyers look at provider succession, referral sources, and payer contracts.
Behavioral Health
Mental health, substance use, and autism services with growing demand and payer coverage. Valued on clinical outcomes, licensing, and census.
Home-Based Care
Home health, hospice, and personal care with recurring census and favorable demographics. Licenses and referral relationships are the moat.
Rehabilitation Services
Therapy practices with repeat visits, direct-access demand, and clear add-on paths for platforms.
Outpatient & Ambulatory Care
Lower-cost sites of care taking volume from hospitals. Valued on procedure mix, surgeon alignment, and payer contracts.
Healthcare Business Services
Billing, staffing, and administration providers outsource first. Contract revenue tied to patient volume.
Life Sciences Services
Outsourced services to pharma, biotech, and device companies. Project and contract revenue with specialized, regulated expertise.
Typical businesses
What buyers look for
- A diversified payer mix
- Provider retention and succession
- Regulatory and compliance readiness
- Operations that scale beyond one location
04 · Vertical Software & Mission-Critical Technology
Vertical software & mission-critical technology
Software that runs a specific industry, with recurring subscriptions, high retention, and products customers cannot operate without. Valued on net revenue retention, gross margin, and the rule of 40.
Core focus · The niches we work in
Within vertical software, these are the businesses we sell, acquire, and finance most often.
Healthcare Software
Practice management, EHR-adjacent, and patient engagement tools with regulatory lock-in and recurring subscriptions.
Financial Software & Fintech Infrastructure
Software embedded in payments, lending, and back-office finance. Valued on transaction volume, retention, and compliance depth.
Governance, Risk & Compliance Software
Tools customers must keep to stay compliant. High renewal rates and demand driven by regulation.
Cybersecurity Software
Security products and platforms with recurring revenue and rising, non-discretionary demand.
Construction & Field Service Software
Operating systems for contractors and field teams: scheduling, estimating, dispatch, and billing.
Industrial & Manufacturing Software
Plant-floor and supply software with deep integration and multi-year contracts.
Insurance Software
Core and workflow systems for carriers, MGAs, and agencies. Long implementations and very low churn.
Government Technology
Software sold to state, local, and agency buyers. Long sales cycles, then durable, budget-backed renewals.
Legal Technology
Practice and matter management, e-discovery, and document tools with recurring subscriptions and sticky workflows.
Logistics & Supply Chain Software
Transportation, warehouse, and visibility software embedded in daily operations. Valued on retention and volume-based pricing.
Typical businesses
What buyers look for
- Net revenue retention above 100%
- Gross margins that support reinvestment
- Customers who cannot operate without the product
- A clear path from founder-led to a scaled sales motion
Discuss a Vertical Software & Mission-Critical Technology transaction →
Let’s discuss the transaction.
Whether you’re buying, selling, or structuring capital in one of our sectors, start with the opportunity.
Confidential · Transaction-level review