Top Tennessee Search Funds with Recent Private M&A Activity

Active Firms

553

TTM Deal Inquiries

$3M-$12M

Core Revenue Range

$600K-$3M

Core EBITDA Range

Top Sectors by Activity

Industrials 48%

Consumer Goods 14%

Business Services 11%

Healthcare 9%

Transportation 5%

Key Attributes

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

Johnson Capital

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We are a traditional, entrepreneur-led search fund focused on acquiring and operating one exceptional small-to-mid-sized business over the long term. Our goal is to partner with a founder seeking a thoughtful succession solution and to preserve the legacy of a strong company while investing in its next phase of growth.We are primarily interested in profitable, recurring-revenue businesses in the Southeast and Mid-Atlantic with $1–5MM of EBITDA, durable customer relationships, and opportunities for operational improvement and organic expansion. We are industry-agnostic but particularly…

Recent Transactions

This member has no reported closed transactions.

Webb Group

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I am a Search Fund operator searching for a great business with recurring revenue in the SouthEast of the United States. Coming directly from my MBA at Vanderbilt University, I am uniquely positioned to purchase this company for long-term sustained growth.

Recent Transactions

This member has no reported closed transactions.

For the Future Capital

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I am an independent sponsor looking for an opportunity to invest in a family business, where I would own and operate the business. Ideally the company would have between $20-50M of Revenue, and $4-10M of EBITDA. I started my career in private equity, have worked for private equity backed businesses, and have been an operational CFO for a founder owned business. I would like to take my experience and leverage it into growing my own business.

Recent Transactions

This member has no reported closed transactions.

Paul Dent

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Paul Dent lives in Nashville with his wife and 3 children – He loves the area and is active in the community as well their local church. Paul graduated from Sewanee and has an MBA from Vanderbilt University. He dreams of owning and operating a small business that provides for his family and meaningful employment to others.Paul intends to find and acquire a stable Nashville company with a history of recurring revenue and predictable cash flows. An ideal business generates between $750K - $2M in seller discretionary earnings (SDE or EBITDA) and is a B2B or B2C service company with a large…

Recent Transactions

This member has no reported closed transactions.

Cumberland Ridge Capital

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We are seeking to acquire and operate a single, profitable business in the United States. We focus on companies with strong recurring customers, stable cash flow, and opportunities for operational improvement and long-term growth. We are industry-agnostic within fragmented sectors, with particular interest in industrial, business services, and niche manufacturing businesses.Our goal is to partner with an owner seeking a thoughtful, long-term transition, preserving company culture while investing in employees, systems, and sustainable growth.

Recent Transactions

This member has no reported closed transactions.

Hardison Investments

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Our company is focused on angel investment opportunities or complete acquisitions of established companies that would benefit from experienced operators. We have experience in life science and healthcare, real estate, and the services space.

Recent Transactions

This member has no reported closed transactions.

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Saguaro Partners

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I am an experienced operator looking for a company that matches my experience in operations and finance. I have run large operations in the past and I am looking to run an operation of my own. Please reach out

Recent Transactions

This member has no reported closed transactions.

Three97

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Three97 is a search fund actively seeking investment into transitional asset-heavy businesses. Our focus is to acquire businesses facing significant market and technological tailwinds to establish next generation industrial platforms.

Recent Transactions

This member has no reported closed transactions.

Cardwell Evans & Co

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Recent Transactions

This member has no reported closed transactions.

Icarus Search Group

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At ISG, we are committed to continuing your legacy and company culture. We want to build upon the success you have created and hold the business over the long term. We are searching for a single business to acquire that has a consistent track record of success and EBITDA in the range of $1-5M. We are open to any industry and geography.

Recent Transactions

This member has no reported closed transactions.

Tramel Partners

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Subject: $1M Senior Bridge Term Loan | $340k EBITDA | 30-Day CloseBody:"I am an experienced operator acquiring a cash-flowing DTC brand ($340k TTM EBITDA) and seeking a $999k Senior Term Loan to close in 30 days. Company is a social media driven car and truck detailing products and accessories business. The company is almost 3 years old with a solid social media following, good pixel and ad accounts on TikTok and Facebook. Minimal Amazon today fbm. Big upside by switching to FBA and increasing Meta presence to drive more direct sales to website. I am a serial entrepreneur who…

Recent Transactions

This member has no reported closed transactions.

Anvil Capital

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We are entrepreneurs first and foremost, builders at heart, and investors who are committed to building companies that make a difference. We bring a unique combination of strategic vision, operational discipline, and technological foresight honed from scaling businesses that have generated exponential returns. Our team has an impressive track record of turning cutting-edge ideas into revenue-generating realities that unlock value and capture new markets. This fusion of entrepreneurial grit, investing acumen, and cross-industry knowledge allows us to identify pioneering…

Recent Transactions

This member has no reported closed transactions.

Commodore Capital

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We are a long-term oriented investment firm focused on acquiring and operating profitable, founder-led lower middle-market businesses. We target companies with durable cash flow, strong repeat or contractual revenue, and opportunities for operational improvement. Our team brings hands-on operating experience, disciplined capital allocation, and a collaborative approach that prioritizes continuity for employees, customers, and sellers. We value transparency, thoughtful diligence, and efficient decision-making, and we are a reliable, straightforward partner through close and beyond.

Recent Transactions

This member has no reported closed transactions.

Hugh Gaston

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I am looking for attractive business to buy in the Nashville, TN area. I am not interested in restaurants. As I research and get more info, I will start to narrow my focus. My initial interest is in a business that providds a service that people need, not just want.

Recent Transactions

This member has no reported closed transactions.

West End Capital Partners

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We are a team of entrepreneurs and investors with success investing in, operating, and growing private companies. Our mission is to acquire and operate one exceptional business, supporting its growth and development, while creating extraordinary value for business owners, customers, employees, and shareholders.

Recent Transactions

This member has no reported closed transactions.

Matthew Miller

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I’m a strategic account and partnerships leader with 15+ years of experience managing complex, multi-stakeholder portfolios generating $20M+ annually. My work focuses on driving retention, expansion, and long-term revenue growth by aligning stakeholders, structuring initiatives, and executing across markets. I have led full lifecycle ownership across high-value accounts—from onboarding and adoption through renewal, expansion, and contract negotiation—ensuring consistent value realization and measurable business outcomes. While my background is rooted in the entertainment industry, the…

Recent Transactions

This member has no reported closed transactions.

Firms in the Tennessee 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 Tennessee Search Funds is $3M-$12M, with a core EBITDA range of $600K-$3M. 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 Tennessee 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 Tennessee are active across multiple regions, while firms based elsewhere may also participate in the Tennessee market. Location can provide useful context, but it should not be interpreted as a firm’s geographic boundary.

When comparing Search Funds in Tennessee, consider factors such as sector focus, size range, and recent transaction activity. These characteristics vary across the 36 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 Tennessee Search Funds directory, you can request information here.

Top Tennessee Search Funds

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