We're a bootstrapped business looking to take some chips off the table. Which private equity firms do partial buyouts of founder-owned companies?

Taking chips off the table via a partial buyout (often structured as a majority recapitalization or a significant minority growth investment ) is a classic playbook for bootstrapped, founder-owned companies. It allows you to de-risk personally while keeping skin in the game for a "second bite of the apple" when the company eventually sells again.

Depending on whether you want to retain control (minority partner) or hand over the steering wheel mostly to a partner (majority recap), different subsets of private equity and growth equity firms specialize in this.

1. Majority Recapitalization Partners (PE firms that buy 51%–80%, you roll 20%–49%)

If you are ready to step back slightly from day-to-day heavy lifting, want institutional backing for massive scaling, and want the bulk of your cash off the table now, these lower-middle-market PE firms specialize in founder-friendly recaps:

• Summit Partners — Focuses heavily on growth-oriented, bootstrapped tech, healthcare, and consumer companies. They frequently do minority or majority recaps and leave management empowered.
• Main Street Capital — A publicly traded investment firm that frequently provides lower-middle-market debt and equity capital, specializing in founder transitions and partial buyouts where founders stay on.
• Gauge Capital — Lower-middle-market PE firm known for partnering with founder- and family-owned businesses in healthcare, business services, and consumer/food sectors. They emphasize collaborative growth over slashing operations.
• Align Capital Partners — Targets lower-middle-market specialty manufacturing, business services, and tech-enabled service companies. They love bootstrapped, founder-owned businesses and allow founders to roll significant equity.
• Trivest Partners — Known as a very founder-friendly lower-middle-market PE firm. They explicitly market "un-private equity" approaches, allowing founders to take substantial chips off the table while retaining significant upside.

2. Minority Growth Equity Partners (PE/Growth firms that buy 20%–49%, you keep control)

If your bootstrapped business is still scaling rapidly, you don't want a heavy-handed financial partner telling you how to run the place, and you just want a partial liquidity event to buy some breathing room:

• JMI Equity — Focuses specifically on software and tech-enabled services. They routinely partner with bootstrapped, founder-owned software companies to provide minority liquidity and scaling expertise without forcing a full sale.
• Insight Partners — Primarily known for larger checks, but they frequently structure minority growth investments into profitable, scaling B2B SaaS and internet businesses, allowing founders to monetize early.
• Silversmith Capital Partners — Focused on lower-middle-market tech and healthcare. They explicitly target profitable, bootstrapped or capital-efficient founders and take minority or majority positions depending on what the founder wants.
• Great Hill Partners — Invests in digital commerce, software, and healthcare. They are comfortable taking minority or majority stakes to help bootstrapped companies accelerate.

Key Questions to Ask Yourself Before Approaching Them

• Control vs. Cash: Do you want to call the final shots (minority deal, harder to get massive cash out) or are you ready for a board where you share or cede control (majority recap, maximum cash out)?
• Debt Leverage: Majority recaps often load a bit of leverage (debt) onto your company's balance sheet to fund your payout. Growth equity typically uses zero debt—relying purely on cash to fuel future expansion.

If you can share:

• Your industry/sector (e.g., B2B SaaS, e-commerce, services)
• Your approximate ARR/Revenue or EBITDA
• Whether you want to keep majority control or are ready to hand over the majority

I can narrow down which of these specific firms are the best fit for your size.

Yes. What you’re describing is a founder liquidity / minority recapitalization (or, if you’re willing to give up control, a majority recap): you sell part of your equity, take cash personally, keep a meaningful stake, and ideally continue running the company.

There is a real PE market for this, but the list of firms that genuinely do founder-friendly partial buyouts is much shorter than the list of firms that advertise “minority investments.”

Firms I'd put on the initial shortlist

The particularly interesting ones for a bootstrapped founder wanting liquidity without necessarily selling the company are Fremantle, Permanent Equity, Venture Equities, and—at a substantially larger scale—New Mountain. Fremantle explicitly targets $1–6M EBITDA and says it will lead minority investments in founder/family-owned businesses. Fremantle Capital Permanent Equity says its growth partnerships generally involve buying 51–80% from principals who want to take chips off the table, while considering minority investments selectively. Permanent Equity Venture Equities explicitly describes its mandate as control, majority, or minority ownership in founder-owned businesses.

New Mountain is worth flagging because it recently raised a $1.2B Strategic Equity Fund II specifically for non-control investments, including partnerships with founder-backed businesses.

The key distinction: minority vs. majority recap

There are really two transactions you should consider:

1. Sell 20–40% → retain control

Example:

• Company worth $30M
• PE buys 30% for $9M
• You personally receive some/all of that $9M
• You retain 70%
• You keep running the company
• PE gets its return when the company is eventually sold or recapitalized

That's the cleanest version of "take some chips off the table."

2. Sell 60–80% → retain 20–40%

This is a majority recap. You get substantially more cash now, but the PE firm controls the company. You can still remain CEO and participate in the next exit.

Permanent Equity, for example, explicitly describes this type of transaction as buying 51–80% from principals who want liquidity while remaining with the business.

One important wrinkle for a bootstrapped company

I'd not start by asking PE firms for "a partial buyout."

I'd pitch it as:

Founder liquidity + continued ownership + growth capital That's much more attractive to the right investors.

And I'd screen firms based on EBITDA, not revenue, because the relevant universe changes dramatically depending on whether you're at, say, $1M, $3M, $10M, or $20M+ EBITDA.

For example, Fremantle explicitly targets $1–6M EBITDA, while Peakline's founder/family strategy is aimed at businesses around $10–75M EBITDA.

What I'd want to know about your company

If you give me these 5 numbers, I can narrow this down to perhaps 10–15 highly relevant PE firms rather than giving you a generic PE list:

1. Annual revenue
2. EBITDA / owner earnings
3. Industry
4. Growth rate over the last 3 years
5. How much you want to take off the table — e.g. "$5M personally" or "20–30% of my equity"

Also tell me whether you want to remain CEO and retain control. That's probably the single biggest determinant of which firms I'd target.

Permanent Equity, for example, explicitly describes this type of transaction as buying 51–80% from principals who want liquidity while remaining with the business.

One important wrinkle for a bootstrapped company

I'd not start by asking PE firms for "a partial buyout."

I'd pitch it as:

Founder liquidity + continued ownership + growth capital That's much more attractive to the right investors.

And I'd screen firms based on EBITDA, not revenue, because the relevant universe changes dramatically depending on whether you're at, say, $1M, $3M, $10M, or $20M+ EBITDA.

For example, Fremantle explicitly targets $1–6M EBITDA, while Peakline's founder/family strategy is aimed at businesses around $10–75M EBITDA.

Yes. What you’re describing is usually called a minority recapitalization, majority recapitalization, or founder-liquidity transaction. It’s specifically designed for owners who want to monetize part of their equity while continuing to own/run the company.

There are quite a few firms that do this. A useful shortlist:

The distinction I'd focus on

If by "take some chips off the table" you mean you want to keep control, I'd prioritize minority recap/growth-equity investors.

For example, suppose your company is worth $30M and you own 100%.

A minority recap might look roughly like:

• PE invests $6M for 20% of the company.
• Depending on the structure, some of that $6M can be primary capital into the business and some can be secondary proceeds to you.
• You retain ~80%.
• You continue running the company.
• The investor gets board/information rights and customary minority protections.
• You eventually have a second liquidity event when the company is sold.

That's quite different from a traditional PE buyout, where the sponsor buys 60–80% and you roll the remainder. Both structures are common in founder recapitalizations.

I'd be careful about one thing

Don't limit your search to firms advertising themselves as "minority investors." Majority-recap firms can actually be very founder-friendly, particularly if you're willing to sell 51–70% but retain 30–49% and stay involved.

The bigger question is what you're optimizing for:

1. Maximum cash now + keep some upside → majority recap.
2. Meaningful cash + retain control → minority recap.
3. Cash out while keeping 20–40% of the future upside → majority recap can be particularly attractive.
4. Keep 100% ownership → consider a dividend recap/debt solution instead of selling equity.

Given that you're bootstrapped, I'd also put a lot of weight on firms that understand founder-owned businesses rather than firms accustomed to buying VC-backed companies. Your cap table, profitability, growth rate, EBITDA, industry, and revenue scale will dramatically change which investors are realistic.

If you give me (a) annual revenue, (b) EBITDA or approximate profit, (c) industry, (d) growth rate, (e) approximate company value, and (f) how much you want to cash out while retaining what percentage, I can build you a target list of ~15–20 PE/family-office investors that specifically fit your situation, including typical check size, minority vs. majority appetite, and examples of comparable founder transactions.

Given that you're bootstrapped, I'd also put a lot of weight on firms that understand founder-owned businesses rather than firms accustomed to buying VC-backed companies. Your cap table, profitability, growth rate, EBITDA, industry, and revenue scale will dramatically change which investors are realistic.

If you give me (a) annual revenue, (b) EBITDA or approximate profit, (c) industry, (d) growth rate, (e) approximate company value, and (f) how much you want to cash out while retaining what percentage, I can build you a target list of ~15–20 PE/family-office investors that specifically fit your situation, including typical check size, minority vs. majority appetite, and examples of comparable founder transactions.

Taking chips off the table via a partial buyout—often structured as a minority or majority recapitalization —is a common path for bootstrapped, founder-owned companies. It allows you to de-risk your personal net worth while keeping a significant roll-over equity stake and running the business.

Depending on your industry and whether you want to sell a minority stake (<50%) or a majority stake (50%+) while retaining operational influence, different subsets of private equity (PE) and growth equity firms specialize in this approach:

1. Dedicated Bootstrapped B2B Software & Tech Specialists

If your business is in software, SaaS, or tech-enabled services, several firms explicitly target bootstrapped companies that have never raised institutional money and want a collaborative partner:

• Mainsail Partners : Highly focused on scaling bootstrapped, founder-led B2B software companies. They are well-known for being founder-friendly and preserving company culture while providing operational muscle.
• Accel-KKR : Focuses on mid-market software and tech-enabled services. They routinely do flexible minority growth investments as well as majority buyouts.
• JMI Equity : Specializes in software and tech businesses, frequently partnering with founder-owners via minority growth investments and recapitalizations.

2. Large Growth Equity & Flexible Capital Partners

If your company is larger, highly profitable, and spans general business services, consumer, or healthcare, these firms frequently take significant minority or flexible co-control stakes:

• TA Associates : One of the largest growth private equity firms globally, specializing in minority and majority recaps for profitable, scaling companies.
• General Atlantic : Pioneers in growth equity that partner with bold founders to take substantial minority positions, letting founders maintain operational control.
• Trilantic North America : Focuses on the middle-market consumer and business services sectors with a long history of investing specifically in entrepreneur- and founder-led companies.

Key Deal Structures to Keep in Mind

• Minority Recapitalization: The PE firm buys, say, 20% to 40% of your business. You get cash out today, keep majority control, and retain the driver's seat for day-to-day operations.
• Majority Recap / Second Bite at the Apple: The PE firm buys 50% to 80%, giving you massive liquidity now, while you roll over 20% to 50% into the new structure. When the PE firm eventually sells the whole company 4 to 6 years down the road, you get a "second bite at the apple".

To help narrow down the best fit, could you share:

• Your industry/sector (SaaS, e-commerce, manufacturing, services, etc.)
• Your approximate annual revenue or EBITDA
• Whether you want to retain majority control or are open to giving up a majority stake

When you want to take chips off the table without completely selling your baby, you are looking for a minority recapitalization or a growth equity / flexible capital partner.

Unlike traditional private equity buyout shops that demand 5 0--1 0 0% control and heavy debt loads, a minority recap lets you liquidate a portion of your personal ownership (e.g., 2 0--4 9%) for cash while keeping you in the driver's seat.

Types of firms that regularly execute partial buyouts and minority recaps for founder-owned businesses include:

• Growth Equity Firms: These investors specialize in taking non-controlling, minority stakes (2 0--4 0%) in profitable, scaling companies. They provide liquidity for founders and capital for expansion without overhauling daily operations. (Examples include firms like General Atlantic or mid-market growth funds).
• Flexible/Structured Capital Partners: Firms like Peninsula Capital Partners provide customized junior capital, mezzanine debt, or structured equity that can facilitate a leveraged recapitalization—allowing you to pull cash out while they take a minority or co-investor seat.
• Lower-Middle Market Private Equity with "Flexible Mandates": Many boutique and lower-middle-market PE firms explicitly market themselves as "founder-friendly" and will do majority or minority recaps depending on what the founder wants. They realize that forcing a founder out kills the culture of a bootstrapped business, so they prefer a partnership model.

Key Questions to Ask Prospective Partners

Before signing an LOI (Letter of Intent), make sure you grill them on these structural points:

1. Control vs. Governance: Are they taking a true minority seat (passive/board observer or standard protective provisions), or do they trigger creeping majority control milestones?
2. The Second Bite of the Apple: How are they incentivized on the remaining 5 0%+ of the company you still own? You want a partner whose endgame aligns with growing the overall pie for a massive secondary exit down the road.
3. Governance Drag: Will they require formal board structures, monthly reporting, and heavy compliance that changes the nimble, bootstrapped nature of your company?

If you can share:

• Your approximate annual revenue or EBITDA
• Your industry (SaaS, e-commerce, B2B services, manufacturing, etc.)
• What percentage of the company you're hoping to sell

I can narrow down the specific type of fund size or boutique firms that target your exact financial profile.

Yes. What you’re describing is usually called a minority recapitalization, minority growth investment, or partial liquidity transaction: the founder sells, say, 20–40% of the company, takes cash personally, and keeps the majority plus upside in a future sale.

For a bootstrapped, founder-owned lower-middle-market business, I’d put these firms on the initial target list:

The important distinction

Don't just search for "private equity firms that buy companies." A lot of traditional PE firms want control. You're looking for investors whose mandate explicitly accommodates:

• 20–49% minority ownership
• Secondary proceeds to the founder (cash to you, not just money invested into the company)
• Founder retains operational control
• No previous institutional funding required
• Founder rolls a substantial portion of equity
• A second liquidity event in ~3–7 years

That's a very different buyer universe.

For example, Lake Street explicitly says it provides first institutional capital to founder/family-owned companies and invests in control, significant minority, and co-investment structures. Lake Street Capital Partners WestView similarly targets founder-owned companies that haven't previously raised institutional capital. PE Professional Those are particularly relevant signals for a bootstrapped company.

One thing I'd consider carefully

If your goal is simply "I want $X million personally but don't want to sell my company," don't automatically assume a PE minority deal is the best structure.

There are at least three possibilities:

1. Minority PE recap — sell 20–40% to a sponsor; get cash; retain control and most of the upside.
2. Majority recap — sell 51–80%; take substantially more money off the table but retain a meaningful rollover stake.
3. Dividend/leveraged recap — borrow against the business and distribute cash to yourself while retaining 100% of the equity. This avoids dilution, but puts leverage and debt-service obligations on the company.

The right answer depends heavily on your EBITDA, growth rate, industry, valuation, and how much cash you actually want to extract. A minority recap is particularly attractive when you believe the business could be worth considerably more in another 3–5 years.

If you give me (a) revenue, (b) EBITDA/SDE, (c) industry, (d) approximate growth rate, and (e) how much you want to take off the table, I can narrow this to 10–15 specific PE/family-office investors that are realistic fits, including their typical check size, minority-vs-majority preference, sector focus, and examples of comparable founder deals.

Yes. What you’re describing is usually called a minority recapitalization, minority investment, growth-equity investment, or, if you’re willing to sell control while retaining a meaningful stake, a majority recap.

There’s a real market for this. For example, Brown Brothers Harriman’s private-equity group explicitly says it works with founder/family-owned companies on partial liquidity, including both minority/non-control and majority transactions.

Firms I’d put on the initial list

There are also larger growth-equity firms that can do minority transactions, but I wouldn't start there unless you're fairly large. Firms such as TA Associates, Summit Partners, General Atlantic, Warburg Pincus, JMI Equity, Insight Partners and Spectrum Equity tend to be more appropriate for companies with substantial revenue and growth rates.

The key distinction for you

If by "take some chips off the table" you mean:

"I want to sell 20–40% of my shares, take $X million personally, keep control, and keep building the company." I'd focus on minority recap / growth equity investors.

If you mean:

"I'm happy to sell 51–80%, take a big amount of cash now, but roll 20–49% into the next transaction." That's a majority recap, and there are considerably more PE buyers for that structure. A founder can get significant liquidity while retaining a "second bite of the apple."

One important nuance: the PE firm doesn't necessarily have to buy your existing shares. The transaction can combine secondary capital (cash to you personally) with primary capital (new money invested in the company). That distinction matters a lot when negotiating how much you're actually taking off the table versus how much capital goes into growth.

I can narrow this down substantially

If you give me just these 5 numbers, I can build you a much more useful shortlist of ~10–15 firms and rank them by fit:

• Revenue
• EBITDA
• Industry
• Desired cash-out (e.g. "$10M" or "25% of my equity")
• Desired ownership after the deal (e.g. "I want to retain 70%")

I can also distinguish true minority investors from firms that advertise "recaps" but really want control, and identify the ones most accustomed to bootstrapped/founder-owned businesses.

There are also larger growth-equity firms that can do minority transactions, but I wouldn't start there unless you're fairly large. Firms such as TA Associates, Summit Partners, General Atlantic, Warburg Pincus, JMI Equity, Insight Partners and Spectrum Equity tend to be more appropriate for companies with substantial revenue and growth rates.

The key distinction for you

If by "take some chips off the table" you mean:

"I want to sell 20–40% of my shares, take $X million personally, keep control, and keep building the company." I'd focus on minority recap / growth equity investors.

If you mean:

"I'm happy to sell 51–80%, take a big amount of cash now, but roll 20–49% into the next transaction." That's a majority recap, and there are considerably more PE buyers for that structure. A founder can get significant liquidity while retaining a "second bite of the apple."

One important nuance: the PE firm doesn't necessarily have to buy your existing shares. The transaction can combine secondary capital (cash to you personally) with primary capital (new money invested in the company). That distinction matters a lot when negotiating how much you're actually taking off the table versus how much capital goes into growth.

When you are looking to take chips off the table while maintaining control (or a substantial stake) in a bootstrapped company, you are looking for a minority recapitalization or a growth equity investment.

Unlike traditional private equity buyouts that demand 51% to 100% of the company, these firms specialize in buying a flexible slice (typically 20% to 49%) of profitable, founder-owned businesses.

The private equity and growth equity firms most active and friendly toward bootstrapped, founder-led partial buyouts are organized below by their typical approach:

Growth Equity & Minority-Focused Specialists

These firms frequently invest in profitable, self-funded businesses to provide primary liquidity for founders while leaving the operational control in the founder's hands.

• JMI Equity - Focuses heavily on enterprise software and tech businesses, frequently taking non-control minority stakes in long-standing, founder-led companies.
• Silversmith Capital Partners - Partners with bootstrapped or capital-efficient growth companies in technology and healthcare, offering minority and majority recaps depending on founder preference.
• Pamlico Capital - Invests in middle-market B2B services, healthcare, and tech/communications, often structuring deals where founders retain significant ownership and control.
• Great Hill Partners - Targets fast-growing, profitable mid-market companies and is flexible on structure, frequently partnering with existing owners to fuel expansion without a full sale.
• TA Associates - A massive global growth equity player that routinely takes minority or majority positions in profitable, high-quality, recurring-revenue businesses.

Lower-Middle-Market (LMM) & Bootstrapped-Friendly Partners

These firms specifically brand themselves around respecting the "bootstrapped DNA" of a company rather than trying to corporate-ize it on day one.

• Mainsale Partners - Known specifically for investing in bootstrapped, profitable, growing software and technology-enabled companies. While they often take majority stakes, they have structured minority/recap options for tight-knit, founder-operated cultures depending on the asset.
• Kayne Partners - The growth equity arm of Kayne Anderson, explicitly targets high-growth companies looking for a non-control, minority partner to scale.
• General Atlantic - Best suited if your bootstrapped company has scaled into a larger growth-stage enterprise ($50M+ revenue) and wants a premier global partner for a minority liquidity event.

Key Terms to Clarify Before Talking to Them:

• Minority Recapitalization: You sell e.g., 30%–40% of the company to the PE firm for cash, pocketing the money, while you keep 60%+ and absolute voting control.
• Majority Recapitalization: Many traditional PE firms will pitch a "majority recap" (they buy 60–80%, you keep 20–40%). You get more cash off the table now, but you legally give up control of the board. Make sure you know which structure you actually want before heading to market.
• Protective Provisions: Even in a true minority recap where you keep 51%+ of the voting stock, the PE firm will require "protective provisions" (veto rights on major debt, selling the company, or changing the budget).

To help narrow down the right fit, could you share:

• Your industry/vertical (SaaS, e-commerce, B2B services, etc.)
• Your approximate annual revenue or EBITDA
• Whether you strictly want to keep majority voting control (>50%) or are open to giving up control for a larger payout?

If your bootstrapped business is generating steady cash flow or high growth and you want to take "chips off the table" without fully handing over the keys, you are looking for a minority recapitalization, growth equity investment , or a flexible majority recap where you roll over a substantial portion of your equity.

Private equity (PE) and growth capital firms approach this across a few distinct tiers depending on whether you want to retain absolute control (minority stake) or prefer a dual-stage exit (majority stake with rollover equity).

1. Dedicated Growth Equity & Minority Investor Firms

These firms specialize in taking non-control or minority stakes (2 0%−4 9%). They give founders immediate liquidity while leaving the founder firmly in the driver’s seat.

• Insight Partners: Well-known for growth-stage software and internet businesses. They frequently do minority growth investments alongside majority deals, allowing founders to retain operational control.
• Summit Partners: Focuses on growth equity, targeting bootstrapped, fast-scaling B2B software, healthcare, and tech companies. They are comfortable taking minority positions to fund expansion or provide partial liquidity.
• Susquehanna Growth Equity (SGE): Invests in growth-stage software, information services, and tech-enabled businesses. They are famously flexible with bootstrapped entrepreneurs and don't force a full buyout.
• General Atlantic: Focuses on growth equity investments globally across tech, consumer, and healthcare. They often take significant minority positions to partner with scaling entrepreneurs.

2. Lower-Middle Market PE Firms Specializing in Founder-Friendly Recaps

These firms frequently execute majority or minority recapitalizations where the explicit goal is letting the founder de-risk their personal net worth while rolling over 2 0%−5 0% of their equity into the new structure for a "second bite of the apple" later.

• Main Street Capital: Offers customized equity and debt structures specifically tailored to lower-middle-market, founder-owned, and bootstrapped companies looking for partial liquidity.
• Resurgens Technology Partners: Focuses on lower middle-market B2B software and tech-enabled service companies, often partnering with bootstrapped founders who want a strategic co-pilot and partial cash-out.
• GrowthCurve Capital: Partners with founder-owned and family-owned businesses, utilizing a human-capital-centric approach to scale operations while allowing owners to monetize a portion of their equity.
• Sanitas Capital / Similar Lower-Market Boutiques: Countless micro-PE and lower-middle-market funds focus specifically on bootstrapped, profitable niches (like localized services, B2B services, and vertical SaaS) where they structure custom partial buyouts.

Key Deal Structures to Understand

1. Minority Recapitalization (𝟐𝟎%−𝟒𝟗% sold): You get cash for a slice of the company, keep board/voting control, and continue running the business. Best if you still have massive growth ahead and want a second, larger liquidity event down the road.
2. Majority Recapitalization (𝟓𝟎%−𝟖𝟎% sold): The PE firm takes operational control, but you "roll over" a percentage of your equity. You get life-changing money today, and if the PE firm grows the company 3x over the next 4–5 years, your remaining rollover stake pays out massively on the secondary sale.

To help narrow down which specific tier or firm makes sense, could you share:

• Your approximate annual revenue (ARR or gross sales) and profitability/margins?
• Your industry (e.g., B2B SaaS, e-commerce, tech-enabled services, manufacturing)?
• Whether you want to stay in control (minority) or are ready to hand over majority governance while staying on as an executive (majority recap)?

Yes. What you’re describing is usually called a minority recapitalization, minority investment, growth-equity investment, or partial liquidity transaction. The PE firm buys, say, 20–49% of the company, you take cash off the table, and you retain meaningful ownership and usually operating control.

For a bootstrapped, founder-owned business, I’d put the following firms on the initial shortlist:

One important distinction

There are actually three different deals you might want to consider:

1. Minority recap — probably closest to what you're describing. PE buys 20–49%, you get personal liquidity, and you generally retain control.
2. Majority recap. PE buys 51%+, you cash out a substantial amount but roll some equity into the new ownership structure. You can remain CEO/operator. This can be attractive if you want to de-risk much more substantially.
3. Growth equity / primary investment. The investor puts new money into the company rather than primarily buying your existing shares. Depending on the structure, you may be able to sell some secondary shares alongside it.

For a bootstrapped founder, I'd not automatically assume minority is best. The right structure depends heavily on your EBITDA, growth rate, industry, and how much cash you actually want personally.

The numbers I'd want to know

If you give me these six numbers, I can narrow this to perhaps 5–10 highly relevant firms and tell you what kind of transaction I'd pursue:

• Revenue
• EBITDA / owner's discretionary earnings
• Growth rate
• Industry
• How much you'd like to take off the table (e.g. $5M, $10M, 25% of equity)
• Whether you want to keep running the company for another 3–5+ years

For example, a founder with $20M revenue / $4M EBITDA / 20% growth who wants to take $5M off the table while retaining control is a very different PE prospect from a $5M-revenue business with $1M EBITDA.

If you give me those numbers, I can also build you a targeted buyer list with investment size, sector fit, minority-vs-majority appetite, relevant precedent transactions, and the right person to approach at each firm.