The mini-Berkshires (Micro-PE)
My business partner was amazed to learn it was possible to invest in mini-Berkshire type companies (micro-PE). He asked for a list, so I shared the few that I knew on Twitter and quickly got some other great suggestions. Below is an (incomplete) list:
https://www.permanentequity.com/ - Permanent Equity, owned by Brent Beshore. Discretionary Free Cash Flow: $2.5 million to $25 million. Buying criteria: Revenue & Profitability: Sales generally between $10 million and $250 million, with demonstrated or clear path to double-digit net operating margins. Brent runs a crazy conference called "Capital Camp". He's probably the most respected SMB thinker and acquirer.
tiny.com - Tiny purchases "wonderful internet businesses" profiting between $500K and $30 million a year. The owner Andrew Wilkinson is a deep thinker & has been on several great podcasts discussing his model.
https://chenmark.com/ - Chenmark is a private equity firm that seeks to acquire small-to-medium size businesses with the goal of long term growth. Cash flow between $1 million and $3 million. The firm is based in Portland, Maine. - Palmer and Trish Higgins.
https://evermore.industries/ - Evermore companies generally fit the following criteria, Revenues of $4M-$50M, EBITDA of $1M-$5M, 10+ years of operating history. Justin Vogt & Edward Redden.
https://www.atlasviewequity.com/ Atlasview. We look for the following characteristics in our partner companies: $1m to $5m in annual cash flow, Experienced management team, Sticky B2B Customer Base. Owner Jay Vasantharajah. Just launched & has completed 2 acquisitions. Blog posts: https://jayvas.com/how-to-turn-your-small-business-into-a-mini-berkshire-hathaway/ and https://jayvas.com/atlasview-equity-the-pursuit-of-free-cash-flow/
https://www.eadsbridgeholdings.com/ Eads Bridge Holdings. Ideal Partners Are Profitable, Durable, Growing, Dedicated. Mark Valdez & Derek Kuns.
https://enduring.ventures/ Enduring Ventures. Founders Xavier Helgesen and Sieva Kozinsky. We look for small & medium businesses protected by exceptionally large moats. If you are the owner of a business in any sector with at least $500,000 in earnings, 50% gross margins and 20% or greater operating margins, and you believe you meet these criteria, we are interested in learning more about what you have built. We have buy in windows every two years for accrediteds.
https://lev.vc/ Little Engine Ventures. Founders Daryl Starr and Mikel Berger. The primary aim for new enterprises is geographically-dominant, cash-generative, service businesses within 150 miles of Lafayette, Indiana. We are presently looking for teams of 25-100 people to join our company.
https://mudbrickcapital.com/ Mudbrick Capital. Mike & Claire Boyd. Mudbrick Capital seeks to invest in alternative assets including private equity (Small to Medium Businesses), cash-flowing digital businesses (Micro PE) and occasionally in our friend's companies and investment funds.
https://girdley.com/ - Michael Girdley. Building holding company Girdley Enterprises w/ 9 businesses so far built, bought, incubated.
https://oneoutdoor.co/ OneOutdoor Holdings. Mike Botkin. OneOutdoor is a holding company that invests in family-owned small businesses. Investment Criteria: Need sales to be $3-50M with EBITDA $1m+. Headquartered in the southest.
https://www.acquisition.com/ Aquisition.com. Alex Hormozi. Service Based Internet Businesses; Chain of Brick & Mortar Service-Based Businesses; E-learning, Digital, Education, Consulting Businesses; SAAS or tech enabled services. 3M-50M in revenue.
Who did I miss here?