Top United States Search Funds with Recent Private M&A Activity

1,992

Active Firms

25,110

TTM Deal Inquiries

$3M-$12M

Core Revenue Range

$500K-$2M

Core EBITDA Range

Top Sectors by Activity

Industrials 45%

Business Services 11%

Technology 10%

Healthcare 9%

Consumer Goods 8%

Key Attributes

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

TrueAmbition

Actively Sourcing Deals

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Seeking first business to begin building a broader organization and using my prior skills in working with growing and scaling technology companies to increase value and the efficient scaling of small to medium-sized home services companies

Recent Transactions

This member has no reported closed transactions.

New River Legacy Partners

Actively Sourcing Deals

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Our Edge:We are full-time operators with lived experience in pediatric therapy and leading professionals, backed by committed capital to acquire the right clinic. Our goal is to preserve and grow a clinic’s legacy through hands-on management and thoughtful investment for the long term.● Licensed clinician on the leadership team, day one● Access to capital for growth opportunities● Local, committed, and here for the next generationWhat We Do:New River Legacy Partners is a husband-and-wife, woman and veteran-owned team in pursuit of acquiring and operating a profitable…

Recent Transactions

This member has no reported closed transactions.

Aaron Rogan

Actively Sourcing Deals

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I am a seasoned technology executive with over a decade of experience building and scaling high-performing engineering organizations within fast-paced, high-growth environments. My career has centered around leading technical teams through complex challenges, managing multi-million-dollar operating budgets, reducing inefficiencies, and delivering results at scale.Over the years, I’ve personally hired or overseen the recruitment and development of more than 100 team members—placing strong emphasis on building accountable, mission-driven cultures. I’ve led organizations through…

Recent Transactions

This member has no reported closed transactions.

Heinold Capital

Actively Sourcing Deals

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Heinold Capital is an operator-led acquisition firm seeking to acquire and personally operate one established business in the energy and industrial sectors. We focus on engineering and technical services, industrial services, specialty manufacturing, and project-based businesses generating $1–5 million in EBITDA.Our advantage is direct operating experience. Heinold Capital’s principal has built and scaled energy and industrial service businesses, led growth across multiple markets, and held responsibility for strategy, commercial development, operations, technical delivery, and financial…

Recent Transactions

This member has no reported closed transactions.

Kinetic Point Capital

Actively Sourcing Deals

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I am an engineer and management consultant focused on acquiring a company of at least $1M EBITDA, in arenas where I have expertise. My 12+ years of experience in medical devices, wastewater treatment, and industrial automation.As an engineer I focused on product development and operations, and as a consultant I specialized in turnarounds, M&A integration, and growth strategy.My capital (no less than $10M) is primarily from family offices, and we are ready to deploy quickly for the right deal.I have a track record of excellence in operational turnarounds and management, with hands-on…

Recent Transactions

This member has no reported closed transactions.

Zayaan Lalani

Actively Sourcing Deals

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I'm an Atlanta-based buyer with a business and finance background actively looking to acquire one small B2B business in the $500K–$1M range.I'm focused on non-cyclical B2B niches such as wholesale distribution, facility services, and industrial supply. I prefer 5–20 employees, 3+ years of consistent cash flow, and an owner who is open to seller financing is preferred.

Recent Transactions

This member has no reported closed transactions.

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CoreScale Holdings

Actively Sourcing Deals

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CoreScale Holdings, founded by Alvaro Ludowieg and Shreyas Kadaba, is looking to acquire and operate one outstanding privately held business for the long term. Not to resell, but to become its next generation of owner-operators, preserving the culture and legacy its owner built.We're targeting companies with strong fundamentals: recurring revenue, stable cash flows, long-standing customer relationships, and clear room for operational growth.

Recent Transactions

This member has no reported closed transactions.

Almaz Bridge Capital

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Almaz Bridge Capital is a private investment firm specializing in alternative investments and low & middle market business acquisition,with a focus on manufacturing, engineering services and energy (power generation and oil & gas).

Recent Transactions

This member has no reported closed transactions.

Mohsen Torabi

Actively Sourcing Deals

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I am a strategic quality and engineering leader with more than 15 years of experience leading complex technical and professional organizations. My career has focused on building disciplined, scalable systems that support compliance, operational excellence, and consistent client delivery in regulated environments.I combine a strong analytical and technical background with a collaborative leadership approach centered on clarity, trust, and accountability. I have led diverse teams, improved processes, and strengthened organizational capabilities while maintaining continuity for clients and…

Recent Transactions

This member has no reported closed transactions.

Synergy V

Actively Sourcing Deals

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I am an engineer and I have been in commercial construction for 26 years with an emphasis on large scale healthcare and higher education projects. I am also the managing partner of a real estate LLC that owns 14 commercial properties. I am also a silent partner in two separate private equity ventures. I am interested in aquiring a small business and eventually setting up a holding company with mulitple small businesses flowing into it.

Recent Transactions

This member has no reported closed transactions.

Annison Investments

Actively Sourcing Deals

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Experienced investor, entreprenuer, and executive. Most recently acquired and scaled a customer experience, lead generation, and marketing enablement business from $5 million to $40 million in revenue. Led sale to private equity firm. Seeking my next opportunity to partner with a great company and help lead it's next growth phase either as CEO or Chairman if a great CEO is already in place and wants to remain with the company.

Recent Transactions

This member has no reported closed transactions.

Lucius Acholonu

Actively Sourcing Deals

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Experienced operator with 20+ years of leadership across aerospace, manufacturing, logistics, transportation, warehousing, supply chain, and operations management, including full P&L responsibility and large-scale team leadership.Actively seeking to acquire and operate a stable lower middle-market business with approximately $600K–$2M EBITDA/SDE. While industry agnostic, preference includes manufacturing, industrial services, distribution, and B2B service businesses with recurring or repeat customer relationships.Focused on long-term ownership, operational improvement, employee…

Recent Transactions

This member has no reported closed transactions.

Rhizan

Actively Sourcing Deals

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Rhizan is an acquisition-focused holding company seeking route-based service businesses in the lower middle market. With 15 years of Wall Street investment experience, I offer financial expertise, patient capital, and hands-on operational partnership. Seeking $200k-1M EBITDA businesses where I can invest, grow, and preserve the owner's legacy.

Recent Transactions

This member has no reported closed transactions.

Diogenes Capital

Actively Sourcing Deals

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Diogenes Capital is a family-backed investment firm focused on acquiring and owning a single, high-quality manufacturing or industrial business in Ohio. We are long-term owners, not financial sponsors, and our goal is to preserve what works while supporting thoughtful growth.We focus on established manufacturing and distribution businesses with durable cash flow, tangible assets, and strong teams. We are particularly interested in owner-led companies where succession or a transition is beginning to be part of the conversation.Our approach is relationship-driven and flexible. We are…

Recent Transactions

This member has no reported closed transactions.

Calverton Growth Partners

Actively Sourcing Deals

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Long-term investor and operator looking for great businesses to buy and grow in Northeast Ohio.I have spent my career thus far in private equity investing and as a consultant at McKinsey. I know the challenges of private equity ownership and want to bring a longer term, more flexible and operationally oriented approach to business owners that want an alternative.

Recent Transactions

This member has no reported closed transactions.

Sarah McKenna

Actively Sourcing Deals

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I Bootstrapped Sequentum from zero recurring revenue to 5M ARR, built accounting systems from scratch and added 69 enterprise accounts. Added AI to production platform, got soc 2 type 2 accreditation and built software development life cycle to include all automated devops, and automated testing for both on prem and cloud native platforms. I managed a lean cash flow business and green to 100 employees mostly in an offshore wholly owned subsidiary. As a minority shareholder in Sequentum I am now looking to acquire and run my own data pipeline and scraping business.

Recent Transactions

This member has no reported closed transactions.

Dan Busichio

Actively Sourcing Deals

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I previously worked as Vice President for a middle-market private equity firm making $50 million equity investments per deal. Before private equity, I worked in investment banking, representing founders in sell-side M&A transactions.

Recent Transactions

This member has no reported closed transactions.

Immaterial Capital, LLC

Actively Sourcing Deals

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Immaterial Capital, LLC is a private investment firm focused on acquiring businesses in the lower middle market. We are primarily focused on the manufacturing sector, drawing on prior investment experience and our backgrounds in private equity and precision manufacturing operations.

Recent Transactions

This member has no reported closed transactions.

Richard Cardinale

Actively Sourcing Deals

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Experienced revenue leader and funded buyer looking to acquire a stable, profitable U.S. business with $250K–$750K SDE. Focused on long-term ownership, operational excellence, and preserving seller legacy. SBA-backed and ready to close.

Recent Transactions

This member has no reported closed transactions.

Minerva Value Creation Partners

Actively Sourcing Deals

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Self-funded searcher acquiring one B2B services business with $750K–$2M EBITDA, 50%+ recurring revenue, and a retiring or transitioning owner. Healthcare, professional services, and tech-enabled verticals preferred. Committed capital, fast close.

Recent Transactions

This member has no reported closed transactions.

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Firms in the United States 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 United States 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.

Location can be an important consideration, but it does not necessarily define where a firm is active. Firms based in United States 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 United States are active across multiple regions, while firms based elsewhere may also participate in the United States market. Location can provide useful context, but it should not be interpreted as a firm’s geographic boundary.

When comparing Search Funds in United States, consider factors such as sector focus, size range, and recent transaction activity. These characteristics vary across the 1,992 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 United States Search Funds directory, you can request information here.

Top United States Search Funds

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