We buy small businesses.
To keep and protect forever.
By owners, for owners.
Backing business owners since 1999.
Invested in 70+ companies.
We acquire small, profitable businesses that make the American economy and society work, and stand the test of time. We ensure they can keep doing so for decades to come.
Companies with loyal customers, proud teams and strong cash flows.
We are a founder-led, permanent-capital company build to last for generations.
Our must-have investment criteria:
$2-10M EBITDA, 12%+ margin, steadily growing
5+ years of continuous profitable operation under the same management
Historical management wants to keep on running their business
We invest in all sectors but:
Software, Life Science, and AI-fragile
Real Estate
Capital Intensive
We chase no trends and shy away from the ‘hot’ frenzy of the moment.
Business Services
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Logistics & Transportation
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Healthcare
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Essential Services
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Retail
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Food & Agribusiness
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Leisure & Entertainment
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Residential Services
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Distribution
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Hospitality
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Packaged goods
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Industrials & Manufacturing
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Consumer
Business Services 〰️ Logistics & Transportation 〰️ Healthcare 〰️ Essential Services 〰️ Retail 〰️ Food & Agribusiness 〰️ Leisure & Entertainment 〰️ Residential Services 〰️ Distribution 〰️ Hospitality 〰️ Packaged goods 〰️ Industrials & Manufacturing 〰️ Consumer
Our promise to owners
Secure your family’s future
Cash-out a majority of your stake
Keep additional long-term upside
Stay in charge
Stay running your business ‘as usual’
Minimal intervention - On demand support
Protect your people
No integration shock - No layoffs - No forced hires
Success-sharing plans
Simple, fair, fast process
Straight forward LoI and terms
Protect your legacy
Your company keeps its brand and culture
Funding available to grow
Our Philosophy
Perpetuo means ‘forever’
We don’t buy to sell.
We buy to hold, protect, and grow good businesses, and the people who built them. We see ourselves more as stewards to our companies, than investors.
We only partner with people we look forward to spend decades together.
We acquire the majority, along a model of perfectly aligned co-ownership where founders and/or their historical management retain a 40% long-term stake. We also strongly believe in the superior power of simple and outcome-driven incentives for employees.
None of us being eternal, we strive to help anticipate and facilitate smooth leadership transitions.
We are ourselves a generational company founded and led by a self-made repeat founder.
Decentralized, no non-sense, governance
We only acquire companies whose management has continuously proven to master their own recipe of delivering robust and growing cash-flows. Contrary to most investors, we believe it would be plain heretic to change anything about that.
It is in fact a strict condition to our acquisition that you continue run your business, very autonomously, with minor operational interference and additional monitoring, focused on the most important performance indicators.
You will however always find us available as a caring sounding-board to share our decades-long experience in improving and growing businesses. In both the good and the hard times.
We care and give back
Donate 3% of our pre-tax profits
Offset our HQ carbon footprint
Anonymous hotline for employees
Our principles
Accountable
Empowering
Do no harm
Simple
We have been helping owners manage, improve, fund and grow their businesses since 1999.
We have invested in over 70 owner-led companies across a wide range of sectors and contexts (starting up, growth, refinancing, distress, etc). Transforming their wealth, lives and legacies.
We have founded, led or chaired several companies, managed hundreds of employees, participated in hundreds of board meetings.
Our funds come from our personal hard-earned wealth and from entrepreneurs we backed and notable professionals we have been doing business with in the past 25 years.
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Founder - CEO
Former McKinsey Partner and serial investor building my third company.
I grew up in a family of small-business owners across real estate, manufacturing, and healthcare.
Married to the founder of the largest US scholarship platform (now College Board’s BigFuture).
Father of three.