Top Energy & Utilities Search Funds with Recent Private M&A Activity

1,181

Active Firms

22,919

TTM Deal Inquiries

$3M-$12M

Core Revenue Range

$500K-$2M

Core EBITDA Range

Top States by Activity

Florida 13%

California 13%

Texas 10%

New York 8%

New Jersey 5%

Key Attributes

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

TJP Holdings

Actively Sourcing Deals

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Individual investor with 23 years of financial and capital markets experience. I’m leaving the industry and seeking to use my personal capital to acquire and operate a well respected and profitable small business.

Recent Transactions

This member has no reported closed transactions.

Aeonwell Capital

Actively Sourcing Deals

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Aeonwell Capital is a family office with long-term investment orientation, providing permanent equity to enduring, compounding investment opportunities. We look forward to partnering with established, growing businesses with recurring revenue, healthy profitability ($1-$3M EBITDA) and happy customers.

Recent Transactions

This member has no reported closed transactions.

Arkrite Investments

Actively Sourcing Deals

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I am a self-funded searcher and former Navy SEAL looking for a long-standing service business in the PNW with an excellent reputation and an owner who cares deeply about their legacy. My goal is to be a steady, long-term successor who honors what’s been built, supports the team, and carries the business into its next chapter with humility, discipline, and genuine commitment.

Recent Transactions

This member has no reported closed transactions.

Gabriel Hamelin

Actively Sourcing Deals

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Individual buyer with 6 years of M&A experience in investment banking and private equity in Montreal. I’m actively looking to acquire a business with $500K–$1M in EBITDA. I bring financial expertise, long-term mindset and never-ending energy to ensure a smooth transition and preserve the seller’s legacy.

Recent Transactions

This member has no reported closed transactions.

Grove Oaks Capital

Actively Sourcing Deals

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Grove Oaks Capital is a private investment partnership focused on acquiring and operating a single, privately owned business in the lower middle market space. We will assume an active role in day-to-day management with a long-term focus. GOC is backed by a diverse group of investors, including CEOs, entrepreneurs, and institutional investors.

Recent Transactions

This member has no reported closed transactions.

Third North Holdings, LLC

Actively Sourcing Deals

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Glenn FiedlerEngineer and consultant with 15 years of experience across energy and operations. Former drilling engineer at ExxonMobil and management consultant at BCG. Looking to acquire and operate a founder-owned small business in services or industrials where I can bring technical credibility and operational discipline to the next chapter of growth.

Recent Transactions

This member has no reported closed transactions.

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RWF Ventures

Actively Sourcing Deals

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Marketing executive with a proven track record of building and scaling high-growth ventures by leveraging deep expertise inconsumer marketing from world class organizations with entrepreneurial leadership. Built Aligned Modern Health from a singleclinic startup, to a multi-location, high-growth healthcare brand. Fueled growth through transforming consumer insights intostrategies to drive revenue, customer acquisition leveraging performance based marketing, and evolving business model to scaleexpansion.

Recent Transactions

This member has no reported closed transactions.

Ross Wigon

Actively Sourcing Deals

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I'm a real estate professional looking for a B2B service business in the New York Metro area between $750k and $1.5M of SDE. Assumed deal structure is ~15-20% seller note, with the remaining paid out upon close via buyer equity and SBA debt. I'm prequalified for a $5M SBA loan and have the ability to close on a business worth up to ~$7M.

Recent Transactions

This member has no reported closed transactions.

Mofe Kayode

Actively Sourcing Deals

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I am a self-funded searcher backed by an institutional equity partner (Entrepreneurial Capital, a committed fund), acquiring and personally operating one business in Northern California. My background: mechanical engineering degree, software engineer at Google, and founder of a B2B software company I grew from zero and successfully exited. I am targeting B2B and technical services businesses with $1-3M EBITDA, recurring or contracted revenue, a stable customer base, and a transitioning owner, ideally in the Bay Area. I bring engineering rigor, operational focus, and a plan to grow acquired…

Recent Transactions

This member has no reported closed transactions.

Canelo Partners

Actively Sourcing Deals

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We are a partnership backing Andres Salata, an entrepreneur with the goal of acquiring and managing a single, great business.We are committed to preserve the seller's legacy and fulfill their vision, as well as creating long-term value to employees, clients, and the broader community.

Recent Transactions

This member has no reported closed transactions.

Vitalis Capital

Actively Sourcing Deals

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Financials ∙ SDE: $600K–$900K ∙ Purchase Price: $2M–$3.5M ∙ Gross Margin: 40–75% ∙ Financing: SBA 7A primary, 10–20% seller carry, 10% equity down ∙ Capital Required at Close: $300K–$350K total liquid ∙ 10% down on $2M–$3.5M deal: $200K–$350K ∙ Working capital reserve: $50K ∙ Deal costs, advisors, legal: $25K–$50K ∙ Capital Timeline: On track mid to late 2029 at current savings rateCore Characteristics — Must Haves ∙ Needed not wanted ∙ High switching costs ∙ Compliance mandated or strong demonstrated repeat behavior ∙ Fragmented local market, no…

Recent Transactions

This member has no reported closed transactions.

H&B International

Actively Sourcing Deals

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I'm a Surface Warfare Officer transitioning out of the military and an MBA candidate at UCLA Anderson, currently running an ETA search. I'm looking to acquire and lead a small, fast-paced, agile business where I can drive growth through hands-on operational leadership. I bring a background in SaaS, a bias for speed and execution, and a genuine passion for building something great alongside a strong team. I'm open to conversations across industries and deal sizes as I build my search

Recent Transactions

This member has no reported closed transactions.

CWPB Capital

Actively Sourcing Deals

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Acquisition Target Statement1. Financials- Purchase price: $1.5M–$2.5M- Financing: SBA 7(a), ~10% equity down- SDE multiple: 2.5x–4.5x, scaled to earnings quality, growth trajectory, owner dependency- Implied SDE: $400K–$700K- Earnings quality: Tax-return-supportable; addbacks defensible under QoE review2. Business Profile- Industry: Service-based or recurring-revenue. Vertical-agnostic — financials and operational fit matter more than sector.- Cash flow: Stable, predictable, 3+ year track record.- Owner dependency: Clear path to reduce reliance on current owner within 6–12 months.-…

Recent Transactions

This member has no reported closed transactions.

Winding Wood Capital

Actively Sourcing Deals

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Winding Wood Capital LLC is a Lexington, Kentucky-based investment company dedicated to acquiring businesses within the state. The firm focuses on making control investments, aiming to add long-term value through the implementation of new technologies and investment in equipment. With a strategic emphasis on local acquisitions, Winding Wood Capital seeks to enhance business operations and drive growth by leveraging technological advancements. Their approach is tailored to foster sustainable development and innovation within the businesses they acquire.

Recent Transactions

This member has no reported closed transactions.

Bailey Companies Ltd.

Actively Sourcing Deals

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Experienced operator and entrepreneur seeking to acquire and scale a B2B services business in the Midwest or Southeast. I previously co-founded and scaled SecurSpace, a marketplace for freight storage, from concept to $100M+ GMV in less than five years, including two exits. I have now launched Bailey Companies Ltd. with the goal of building a portfolio of small businesses with EBITDA between $750k to $1.5M.

Recent Transactions

This member has no reported closed transactions.

Strand Capital

Actively Sourcing Deals

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Are you looking to retire? Want to find someone who will take care of your legacy after you are gone? Do you care about what happens to your employees after you're gone? I am looking to acquire a business based in Southern California in the $5-$15 Million range. I am a personally involved owner/operator looking for a long term commitment to an established business.

Recent Transactions

This member has no reported closed transactions.

Heartland Heritage

Actively Sourcing Deals

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Heartland Heritage is a permanent home for your business and legacy. A distinct alternative to traditional private equity: we are backed by permanent capital, which enables us to think in decades, and we are experienced operators who are committed to your company as our singular focus.

Recent Transactions

This member has no reported closed transactions.

Wispinski Holdings

Actively Sourcing Deals

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Wispinski Holdings is a privately owned family company led by Mark Miles, Brooke Wispinski and Jordan Wispinski. The group’s purpose is to build a legacy for the growing family, using their combined expertise to grow a small to mid-sized operation into multi-region enterprise.The leadership team brings a diverse and complimentary set of experiences across corporate finance, consulting, and sales operations: Mark Miles possesses over 25 years in corporate finance, having played a pivotal role in scaling his company from $228 million to $10 Billion in sales through more than 40 strategic…

Recent Transactions

This member has no reported closed transactions.

Pia Ambardar

Actively Sourcing Deals

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Ex-Amazon, Seattle-based searcher seeking $1-$2M EBITDA companies focused on B2B services. Extensive experience in Business Development, Sales, and Strategic Partnerships. Excel at building high-performing teams and launching/scaling businesses.

Recent Transactions

This member has no reported closed transactions.

Kecia Caffie

Actively Sourcing Deals

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Experienced retail operator seeking an opportunity to carry a founder’s legacy forward. Focused on mid-sized businesses in Colorado or New Mexico. My intent would be to build on current owner’s successes with their team,

Recent Transactions

This member has no reported closed transactions.

Firms in the Energy & Utilities 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 Energy & Utilities Search Funds is $3M-$12M, with a core EBITDA range of $500K-$2M. 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.

Relevant Energy & Utilities experience can be an important consideration when evaluating a firm. Familiarity with the sector can provide a stronger understanding of its business models, market dynamics, valuation considerations, and transaction environment. The 1,181 firms included in this directory provide a starting point for identifying firms with relevant experience and activity in Energy & Utilities.

Not necessarily. Many firms are active across multiple industries, so inclusion in the Energy & Utilities Search Funds directory reflects relevant experience or activity in Energy & Utilities, rather than an exclusive sector focus. Individual profiles provide additional context on each firm’s areas of focus and activity within the sector.

When comparing Search Funds with experience in Energy & Utilities, consider factors such as size range, geographic reach, and recent transaction activity. These characteristics vary across the 1,181 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 Energy & Utilities Search Funds directory, you can request information here.

Top Energy & Utilities Search Funds

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