Covenant Management LLC is a privately owned investment and operating company focused on acquiring, operating, and growing founder-led lower middle-market businesses. We seek companies with strong reputations, recurring customer relationships, and opportunities for long-term value creation through o…
Covenant Management LLC is a privately owned investment and operating company focused on acquiring, operating, and growing founder-led lower middle-market businesses. We seek companies with strong reputations, recurring customer relationships, and opportunities for long-term value creation through operational excellence rather than financial engineering.
Our principals bring more than 20 years of experience in mergers & acquisitions, corporate finance, strategic planning, and business operations. We have advised on and executed transactions across multiple industries, while also serving as operators and executives responsible for driving profitable growth.
Unlike traditional private equity firms, we invest with a long-term ownership mindset. We value the legacy that founders have built and strive to provide a smooth transition for employees, customers, and business partners. We are flexible in structuring transactions and are open to seller financing, earnouts, transition services, and other creative solutions that align the interests of both buyer and seller.
Our primary acquisition criteria include:
Founder-owned or family-owned businesses
$500,000 to $5 million of EBITDA or Seller's Discretionary Earnings
Stable cash flow with defensible market positions
Opportunities to improve operations, systems, reporting, and strategic growth
Businesses with strong management teams or those where ownership transition is the primary catalyst
While we evaluate opportunities across a variety of industries, we have particular interest in business services, education, healthcare services, software-enabled services, professional services, and other recurring-revenue businesses.
Following an acquisition, our focus is on investing in people, strengthening financial and operational infrastructure, expanding customer relationships, and creating sustainable long-term growth. We are not seeking short-term flips; our objective is to build enduring businesses that continue to serve their customers, employees, and communities for decades.
Team (1)
Recent Transactions (1)
Covenant Management LLC
Health screening services (except by offices of health practitioners), Health screening services in physicians offices, Offices of Chiropractors, Offices of Physical, Occupational and Speech Therapists, and Audiologists, Physical fitness evaluation services (except by offices of health practitioners), Physical therapy, outpatient
Advised
Midtown
in their acquisition by
Mercy Holdings
August 2024
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