Continuity over disruption
We buy from owners who've built something real, and we respect it. When a founder steps back, our job is to protect what works — the team, the customers, the reputation — and strengthen it.
Permanent Capital · Family-Owned & Founder-Led
Permanent capital for exceptional family-owned businesses.
We invest in profitable, founder-led companies where owners are considering succession, liquidity, or a long-term growth partner. We provide flexible solutions that allow founders to fully exit, remain involved, or roll meaningful equity into the next chapter.
Patient capital. Long-term ownership. Thoughtful transitions.
Supported by committed personal capital and established senior-lending relationships, allowing us to move efficiently with a clear path to financing.
Long-Term
Ownership with no exit date
Founder-Led
Family- and founder-owned
Profitable
Durable, cash-generative
Reinvested
Cash flow back into growth
The Firm
A long-term owner of good businesses.
North Meadow Capital is a long-term, permanent-capital owner of profitable, family-owned and founder-led service businesses. We buy good companies and intend to hold them for the long run — often indefinitely — giving owners flexible liquidity and a thoughtful transition, and their businesses patient capital for the next chapter.
Our focus reflects where we know the ground best: infrastructure and mission-critical services, and the technical, industrial, and niche B2B businesses that support them. That focus comes from years spent inside these markets, building relationships with the operators who run them and learning firsthand how owner-dependent service businesses actually work. We invest behind businesses rather than managing toward an exit, and we reinvest cash flow into organic growth and, over time, additional acquisitions.
We measure success in decades, not exits.
Our Approach
How we own.
Acquire thoughtfully. Preserve what works. Improve what matters. Reinvest cash flow. Compound value over the long term.
Beyond the founder
We build the processes, team depth, and operating discipline that let a business run — and grow — without depending on any single person. Operations stay decentralized: capable teams keep leading, with our support behind them.
Permanent by design
We may hold a business indefinitely. We don't acquire on a predetermined exit timeline, and we decide based on where a company should be in twenty years, not the nearest fund deadline. When a strategic sale is clearly the right outcome for a business and its people, we treat it as the exception, not the plan.
Disciplined capital allocation
We use leverage conservatively and reinvest free cash flow into the businesses we own. Steady compounding through disciplined capital allocation — not financial engineering — is how we build lasting value.
Investment Strategy
What we acquire.
We acquire profitable, founder-led service businesses and own them for the long term. We have particular interest and experience in businesses supporting data centers, critical infrastructure, and technically demanding end markets.
Core Focus
Secondary / Opportunistic
Plus other recurring or highly repeat service businesses with strong customer relationships — particularly where they sit adjacent to our core focus.
Typical Transaction Profile
- EBITDA$500K – $3M+
- RevenueApproximately $2M – $20M
- OwnershipFounder- or family-owned
- TransactionMajority or full acquisitions, with flexible structures
- GeographyPrimarily the Southeast U.S.
- Business profileConsistently profitable and defensible, with recurring or repeat revenue where possible
- LeverageConservative
- Founder transitionFlexible, shaped around the owner's goals
We stay flexible when a business has exceptional qualities that fall outside this profile, including compelling opportunities beyond our core geography.
What We Look For
- Long operating histories
- Consistent profitability and attractive cash flow
- Strong recurring or repeat customer relationships
- Defensible market positions
- Experienced employees and management teams
- Room to grow organically or through acquisitions
- Owners who care deeply about the future of the business
Situations We Consider
- Founder succession
- Owner retirement
- Partial or full liquidity
- Family-business transitions
- Growth capital
- Management transitions
- Add-on acquisitions
- Businesses ready for operational investment or professionalization
For Owners
You built more than a business.
Selling the company you built is about far more than price — it's your employees, your customers, your reputation, and the legacy you spent years creating. We work to preserve what made the business successful while giving you a thoughtful transition.
Every founder's goals are different. Some want to retire and fully monetize what they've built; others want to take some chips off the table while continuing to lead; some want to keep meaningful equity and share in the upside of a larger platform. We structure each transaction around those objectives — flexible liquidity, not a one-size-fits-all deal.
Potential structures
- Full founder liquidity
- Majority recapitalizations
- Founder equity rollover
- Continued operating roles
- Gradual succession planning
- Participation in future platform growth
After the Acquisition
Building for the next chapter.
Once we acquire a business, our job is to strengthen it — protecting what already works while investing where it helps the company grow and rely less on any single person, customer, or relationship.
We aim to make each business more durable and less dependent on any single person — without disrupting the things that made it successful in the first place.
For Brokers & Intermediaries
A straightforward buyer.
North Meadow invests committed personal capital alongside established senior-lending relationships, allowing us to move quickly and pursue the right opportunities with a disciplined financing plan. We welcome opportunities from business brokers, investment bankers, M&A advisors, accountants, attorneys, and other trusted advisors, and your time and your client's confidentiality are on the line with every introduction, so we work to be the easiest buyer you deal with.
When you bring us an opportunity, you can expect us to:
- Respond within one business day
- Give clear, honest feedback, including a fast no when it isn't a fit
- Come prepared to move, with our financing plan and diligence underway before we ask for exclusivity
- Respect your process, your timelines, and your fee
- Protect confidential information at every step
- Deal with you as a direct principal, so you're talking to the decision-maker, not a committee
- Build lasting relationships with the advisors we work with
Leadership
Founder-led, and personally accountable.
Michael Berkman, MBA
Founder & Managing Partner
Michael Berkman is the founder of North Meadow Capital, which he is building as a permanent-capital owner of profitable, founder-led service businesses in the Southeast.
Across operating and capital-markets roles, he has seen firsthand both how good service businesses actually work and how private capital is put to work behind them. That conviction is the reason for North Meadow: a lasting home for essential businesses and the people who built them.
Contact
Start a conversation.
Business Owners
Considering a transition? We'd welcome a confidential conversation.
Brokers & Advisors
Have a business that may fit our investment approach?
Every inquiry reaches Michael directly and is treated as confidential.