Investment Thesis

What we’re building

A U.S. acquisition platform that buys and grows established digital infrastructure businesses. The common thread: long-tenured customer bases, recurring contracted revenue, durable cash-flow fundamentals, and operational levers we can measure, so management can run the business confidently from close, improve performance without compromising service reliability, and build long-term value.

Where we focus

Geography: United States nationwide, favoring markets where infrastructure demand is durable and technical talent is available for hire.
Deal profile: $1-5M EV core (selectively to ~$10M). Established digital infrastructure businesses with consistent recurring revenue, long-tenured customers, and clean, defensible cash flow priced off a three-year average, preferably with clear seller transition support and immediate "day one" operating continuity.
Business model fit: Service-forward, asset-right operations with installable management: a practical infrastructure and systems footprint that's ready to run day one, modern tooling that reduces friction, delivery that doesn't depend on any single technician, and measurable service-quality drivers.

How we create value (repeatably)

Technical + Commercial lift: thoughtful pricing and contract governance, better engineer utilization, and growth through service mix optimization (managed support, monitoring, backup and disaster recovery, security, cloud migration) without compromising service standards.
Operations: tighter ticket flow, stronger renewal and reactivation systems, reduced scope leakage, consistent SOPs, and a staffing model that protects both team morale and throughput.
Patient experience & retention: excellent communication, smoother onboarding and offboarding, and proactive account reviews that keep customers loyal and referrals compounding.
Systems & reporting: right-sized PSA and RMM tooling, clean KPIs (active customers, net revenue retention, average revenue per customer, engineer utilization, revenue by service line), and simple dashboards that keep management and ownership aligned.
Financial discipline: cleaner billing and collections, tighter procurement and vendor terms, and weekly rhythm around cash, capacity, and quality.

How we buy (and de-risk)

Sourcing that compounds: direct outreach to business owners, trusted broker relationships, and referrals from the technology services ecosystem.
Underwrite cash, not narratives: three-year averaged adjusted cash flow rather than a peak year, recurring revenue and contract coverage, customer retention and churn, average revenue per customer, service mix, technical staffing stability, and true owner earnings after a market-rate general manager salary.
Capital stack built for durability: SBA-led senior financing where appropriate, seller support structured to ensure a smooth transition, and aligned private capital, with debt service tested at 1.5x coverage after management comp. No fragile structures, no surprises.

Investor alignment

Co-invest, side-by-side: deal-by-deal participation at our entry price (subject to lender/SPV limits and SBA ownership eligibility); no fees or carry at the SPV level.
Transparency by default: lender-grade reporting, the same dashboards we use to oversee the business.
Multiple ways to win: distributions when gates clear, optional annual buyback window (Y4-Y6, capped), and strategic sale/recap when scale and metrics command it.

Why this opportunity exists

Managed IT is becoming a larger, stickier share of business operating spend as security, compliance, and cloud complexity move technology from discretionary project work into non-discretionary monthly cost. The U.S. market is roughly $71B and projected to grow at about 11% CAGR ('26–'31), with managed security the fastest-growing line and small and mid-sized businesses outpacing large enterprises. Consolidation is underway but far from complete: tens of thousands of MSPs operate below $10M in revenue, and private equity sat behind roughly seven in ten disclosed 2025 transactions, leaving a long runway beneath the platform tier. Contracted recurring revenue anchors volumes, retention commonly runs 85 to 90 percent, and embedded security work raises switching costs year over year. We also evaluate e-commerce brands with proven unit economics and diversified channels, where the aggregator reset has left pricing materially more disciplined for acquirers.

Sources: Mordor US · Omdia MSP M&A · CT Acquisitions PE/MSP

Ten-year ambition, near-term discipline

Build a professionally managed portfolio of mission-critical digital infrastructure businesses, starting with profitable managed IT providers, acquiring one to three over the next 24 - 36 months on the way to a durable, high-integrity cash-flow engine. The playbook stays simple: buy right, transition cleanly, run the fundamentals relentlessly, de-lever on schedule, and convert operational excellence into compounding long-term equity value.