Top Canada Search Funds with Recent Private M&A Activity

117

Active Firms

1,022

TTM Deal Inquiries

$4M-$16M

Core Revenue Range

$1M-$4M

Core EBITDA Range

Top Sectors by Activity

Industrials 39%

Technology 15%

Business Services 11%

Healthcare 9%

Transportation 8%

Key Attributes

Focus: Acquiring One Business | Capital Source: Investor-Backed or Self-Funded | Operating Approach: Stewardship & Growth

Motif Holdings

3 Total Closed Deals Actively Sourcing Deals

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I'm an experienced business operator, advisor and ex-Oliver Wyman principal, having been intimately involved in raising VC funds for a software startup, having been CEO of a biotech incubator where we took a portfolio company public and then sold it, then spent 15 years in the healthcare industry as a strategy consultant serving health insurance, hospital and private equity clients in the US and Canada.I've decided it's time to buy my own company - preferably here in the Toronto area, but I'd go further for the right company - and I'm just getting my search started. The most obvious fit for…

Recent Transactions

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Jun 2026 Advised NeuroMedix Inc. on an investment from Confidential Company
May 2007 Advised AIM Therapeutics in its sale to Confidential Company
Mar 2007 Advised NeuroMedix Inc. in its sale to Confidential Company

Nakani Capital Partners

2 Total Closed Deals Actively Sourcing Deals

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Nakani Capital Partners aims to invest in small and medium sized businesses in North America, to grow them and to further create opportunity and growth for all its stakeholders.Nakani Capital Partners is an investment platform that specializes in helping entrepreneurs exit and retire. We understand that this process can be daunting and challenging, which is why our team has the expertise and knowledge to guide entrepreneurs through the process. With a wide range of investors, consisting of individuals with successful exits in various industries, we can offer entrepreneurs a tailor made…

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Jun 2025 Acquired Bingo Pro Inc
Jun 2025 Acquired Berri Books Inc

Clio Capital Partners

1 Total Closed Deal Actively Sourcing Deals

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Clio Capital Partners are seasoned entrepreneurs and investors eager to be passed the torch from a successful entrepreneur. Operators at our core, we have the experience and dedication needed to build upon the legacy of your business’s success. We have the flexibility to unlock the wealth accumulated in your business while providing peace of mind you’re transferring ownership to a team focused on long-term growth rather than short-term financial engineering or cost-cutting.

Recent Transactions

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Oct 2023 Acquired Allied Threaded Products

Nova Vida Capital

1 Total Closed Deal Actively Sourcing Deals

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Nova Vida Capital is a Toronto-based investment firm that acquires small/medium-sized businesses seeking ownership transition.We have demonstrated experience in getting deals done by leveraging our knowledge of M&A and our network with lenders & investors in Canada. Moreover, we are Owner-Operators and like to get our hands dirty! By utilizing our past operational expertise, the aim is to unlock long-term value in the acquired business.Our best fit will be with a seller who has built an ethical business and would like to hand over the business through a gradual transition process to…

Recent Transactions

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Sep 2021 Acquired Ti Foods

Willow Branch Capital

Actively Sourcing Deals

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Investment Criteria: Service-based or light manufacturing businesses in Eastern Canada with $1–$4M EBITDA, $5-20M revenue, strong teams, recurring or repeat revenue, and solid reputations.Owner Experience: Operator-led, non-PE buyers with 30+ years of combined Fortune 500 general management and entrepreneurial experience, including scaling portfolios, P&L ownership, and frontline leadership.Areas of Expertise: End-to-end operations, general management, marketing and sales growth, execution with frontline teams, and financial discipline.Ownership Approach: 2 self-funded buyers with…

Recent Transactions

This member has no reported closed transactions.

Forth Industries

Actively Sourcing Deals

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Hello! I’m Jeff! I’m 39 years old, and have been around small business and entrepreneurship my entire life. I’ve helped grow a manufacturing business from 2M to 17M in revenue, and also founded a direct to consumer product based business now doing over 1M in revenue. I’m looking for a new venture to apply my time and energy towards. I have a young family, love the outdoors, and love to ride bikes and ski.

Recent Transactions

This member has no reported closed transactions.

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Wind Creek Capital Inc.

Actively Sourcing Deals

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I am currently founder and CEO of Nectarine Credit, a SaaS platform. I have built and exited two previous businesses. Our team is looking to add software companies to our portfolio through bolt-on acquisitions or in adjacent spaces.Part of the SMBootcamp.

Recent Transactions

This member has no reported closed transactions.

PinestoneCaptial

Actively Sourcing Deals

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Pinestone Capital is a private equity firm dedicated to acquiring and leading a single business through their next growth stages. The firm is focused on crafting a tailored succession plan to continue the legacy of business owners. Pinestone Capital is supported by experienced investors and advisors to support owner-operators across various industries, to help ensure a smooth transition and continued success of the businesses acquired.

Recent Transactions

This member has no reported closed transactions.

Pinestone Cap

Actively Sourcing Deals

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Pinestone Capital is a search fund dedicated to acquiring and leading a single high-quality business through its next stage of growth. Pinestone Capital brings together a group of experienced investors that have backed Austin to acquire and operate a business.

Recent Transactions

This member has no reported closed transactions.

Castlewood Group Inc.

Actively Sourcing Deals

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Castlewood Group is a search fund focused on acquiring, operating, and building upon the legacy of outstanding companies.Selling your business can be an emotional experience. We’ll work alongside you to develop a custom suited transition plan ensuring your business is well positioned for continued success following an exit.

Recent Transactions

This member has no reported closed transactions.

Abraham Expeditions

Actively Sourcing Deals

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Seeking opportunities in $0.5 - 5.0M EBITDA companies across business services, and light manufacturing in Canada and US.Completed 3 deals to date across the aforementioned sectors, as a passive, minority investor.Also open to investing passively in new deals.

Recent Transactions

This member has no reported closed transactions.

Longview Growth Partners

Actively Sourcing Deals

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Longview Growth Partners was founded with the desire to acquire and grow a single small to mid-sized business. Our approach to investing combines long-term thinking with breaking down barriers to growth. We partner with exceptional people that want to make a positive impact.

Recent Transactions

This member has no reported closed transactions.

Legacy Path

Actively Sourcing Deals

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Legacy Path Capital is a private investment firm dedicated to acquiring and operating a single exceptional privately-owned business. With a focus on long-term management, the firm emphasizes seamless transitions and the preservation of business legacies. Their strategic approach ensures that the acquired business continues to thrive while maintaining its core values and legacy. Legacy Path Capital's commitment to excellence and sustainability makes it a trusted partner for business owners looking to secure their company's future.

Recent Transactions

This member has no reported closed transactions.

Doncaster Advisors

Actively Sourcing Deals

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Doncaster Advisors specializes in providing business and management services tailored for smaller and mid-sized organizations, typically ranging from 10 to 500 employees. With a focus on mid-market companies, they excel in developing clear strategies and enhancing operational performance. Their expertise includes business model innovation and offering interim leadership solutions, as well as board support to prepare organizations for private equity readiness and post-acquisition success. Doncaster Advisors is also seeking to acquire small businesses and help with value creation and,…

Recent Transactions

This member has no reported closed transactions.

Kansal Consulting Inc

Actively Sourcing Deals

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•CEO of a private equity backed industrial automation company- Comco Controls, he led a turnaround from ($50k) loss to $2mm + EBITDA and 3x revenue growth in under 4 years through organization transformation, operational scaling and commercial transformation.•Over two decades of experience in strategy and operations with a specific focus on growth, innovation and organizational improvements. Deep experience the industrials, energy, mining and agriculture sectors.•Former consulting partner at Deloitte leading strategy practice in Western Canada for Energy and Mining clients.•Holds a…

Recent Transactions

This member has no reported closed transactions.

Calusa Capital

Actively Sourcing Deals

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Calusa Capital is a long term holding company looking to acquire a business with up to 4M in EBITDA, within a 3 hour drive of Toronto. We operate ourselves, and have long time horizons. This allows us to be flexible around structure. We intend to maintain, and build upon, a sellers legacy, which includes taking care of the people who got them there.

Recent Transactions

This member has no reported closed transactions.

Viva Partners, LLC

Actively Sourcing Deals

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The mission of Viva Partners is to acquire and operate a business, taking it to new heights. We bring the mindset of long-term business owners. We will honor your legacy while embedding a strong purpose and the right setting for people to thrive. Viva Partners is managed by investment professionals with combined experience of +25 years in consulting, investment banking and private equity. The firm has committed funding from search fund and private equity funds with more than 100 transactions in the lower middle-market.

Recent Transactions

This member has no reported closed transactions.

Tvacha

Actively Sourcing Deals

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I'm looking to acquire and personally run one established, profitable business in Canada, preferably Ontario — ideally a niche manufacturer, specialty distributor, or accredited service business that's a quiet leader in a small market. The kind of thing that's mission-critical to its customers but a small line item for them, with steady repeat or replacement demand rather than one-off project work.Size-wise, I'm focused on roughly $1–5M in revenue with $300K–$1M of owner earnings (SDE/EBITDA). My background is ten years in public-market and private-equity investing, so I'm very…

Recent Transactions

This member has no reported closed transactions.

Neural North

Actively Sourcing Deals

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MBA graduate (HEC Montréal) and technology executive with 12+ years of operational experience seeking to acquire a real estate services business in Greater Montreal. Targeting recurring-revenue companies ($5M–$15M) in property management or related services. Committed to long-term ownership, operational improvement, and preserving company culture. Bilingual (FR/EN). Backed by a network of Canadian and North American search fund investors.

Recent Transactions

This member has no reported closed transactions.

Artemis Grove Capital

Actively Sourcing Deals

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Artemis Grove Capital is a Toronto-based search targeting a single acquisition of an owner-led business in the GTA. We focus on profitable, privately held companies in B2B services, light manufacturing, vertical market software, or healthcare and education-adjacent businesses with $1M–$5M EBITDA, repeat revenue characteristics, and an owner approaching retirement or succession.The search is led by Helen Zhang, a dealmaker with 7+ years of experience across investment banking, private equity, and operations. Helen has worked across the full spectrum of the market — from public companies…

Recent Transactions

This member has no reported closed transactions.

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Firms in the Canada Search Funds directory are ordered based on recent deal activity on Axial. The default order reflects observed market signals rather than a subjective ranking of firm quality.

Each profile provides information about the firm’s areas of focus, transaction criteria, and relevant activity on Axial’s M&A platform. Together, these details provide a clearer view of where a firm is active and the types of companies and opportunities most relevant for it.

Based on activity on Axial’s M&A platform, the core revenue range for Canada Search Funds is $4M-$16M, with a core EBITDA range of $1M-$4M. Company size can be an important indicator of fit, as firms often concentrate their experience, resources, and transaction activity within particular segments of the market.

Location can be an important consideration, but it does not necessarily define where a firm is active. Firms based in Canada may bring regional knowledge, local relationships, and experience with businesses in the area, while many also pursue opportunities across a broader geographic footprint. Geography is best considered alongside sector focus, company size, and relevant transaction activity.

Not necessarily. A firm’s location does not always define its geographic reach. Many Search Funds based in Canada are active across multiple regions, while firms based elsewhere may also participate in the Canada market. Location can provide useful context, but it should not be interpreted as a firm’s geographic boundary.

When comparing Search Funds in Canada, consider factors such as sector focus, size range, and recent transaction activity. These characteristics vary across the 117 firms included in the directory and can help identify firms that align with your needs.

Axial can help you identify and connect with firms based on your objectives and what you are looking to accomplish. The process varies depending on your role and transaction needs. If you are interested in connecting with firms in the Canada Search Funds directory, you can request information here.

Top Canada Search Funds

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