Based in Toronto · Seeking to acquire one company

A good home for the business you built.

Merwood Partners is a Toronto firm acquiring a single privately-held company — to own, operate, and steward for the long haul. No fund timelines. No outside investors. Just two operators who plan to walk into the building on day one and still be there a decade from now.

Our Approach

We're not a search fund. We're two mid-career operators buying one business to run ourselves.

What makes us different isn't a deck of bullet points — it's the simple fact that we're self-funded, we answer only to ourselves, and we plan to spend the rest of our careers inside the company we buy.

i.

Permanent capital.
No clock.

We aren't a fund with five-year holding periods or LPs waiting for a return. We're in it for the long-haul. The business we acquire will have one owner — us — for as long as we're able to steward it well.

ii.

Operators,
not financiers.

With 30+ years of combined senior leadership experience at KPMG and BMO, we've run teams, budgets, and complex projects. We step directly into leadership — preserving what already works and investing carefully in growth.

iii.

Built around
the seller.

No investment committee. No approval theatre. Whether it's deal structure, your ongoing involvement, or anything else that matters to you — we move quickly and shape the deal to fit your life, not the other way around.

We understand that your business represents more than financial value — it represents relationships, responsibilities, and a legacy built over years of hard work. Our job is to honour that.

On stewardship
What we're looking for

A stable, cash-generating business with a story worth continuing.

We look for straightforward businesses with loyal customers, capable people, and room to grow carefully. Here's the profile we're focused on.

Financial
  • Revenue$7–10M annually
  • EBITDA$1.5–2.5M annually
  • EBITDA margins20%+
  • Enterprise value$6–10M target
  • Track record5+ years of demonstrated stability
Business
  • A straightforward business model we can understand
  • Established competitive and market positions
  • Consistent, predictable cash flows
  • Diversified customer base with repeat business
  • Not distressed — we aren't looking for turnarounds
Industry
  • Stable or expanding addressable market
  • Resilient across economic cycles
  • Some barriers to new entrants
  • Limited exposure to rapid technological disruption
Owner
  • Considering retirement, a reduced role, or transition — without an identified successor
  • Demonstrated readiness to sell
  • A capable, long-tenured management team or employee base
  • Open to a thoughtful handover, not a rushed exit
Geography
  • Local opportunities within the Greater Toronto Area
  • Approximately 100km from Toronto
  • Within a reasonable daily commute to and from Toronto
How it works

A simple, respectful process

We know your time is valuable and your information is sensitive. Here's how a conversation with us typically unfolds, from hello to handover.

i. Weeks 0–2

Introduction

  • A no-pressure intro call
  • Assess strategic fit and objectives
  • High-level information exchange
  • Confidentiality agreement
ii. Weeks 2–6

Evaluation

  • Management meetings
  • A discreet site visit
  • Preliminary financial review
  • Initial deal structure & LOI
iii. Weeks 6–14

Due diligence

  • Detailed financial review
  • Legal & operational diligence
  • Finalize deal structure
  • Clear, steady communication
iv. Closing

Close & transition

  • Sign definitive agreements
  • Transfer of funds
  • Hands-on management transition
  • A handover that honours the work
Start a conversation
Questions we get

Things owners and intermediaries often ask.

No. Search funds raise capital from LPs, acquire a company, and typically exit in 5–7 years. We're self-funded and have no investor timeline. The business we buy will have one owner — us — indefinitely.

Our capital is our own. We may use bank debt as part of a deal structure, but we do not answer to an investment committee or outside fund. That means no approval delays, no pivot mid-deal, no surprise vetoes.

Faster than most strategic buyers. A typical process runs 10–14 weeks from introduction to close — but we adapt to your pace, not ours. If speed matters, we can match it. If you'd prefer to take your time, we'll take it with you.

We preserve what works. Long-tenured employees, supplier relationships, customer relationships, the name above the door — these are the reasons the business is worth buying. Our thesis is stewardship, not restructuring.

Directly and respectfully. We sign NDAs promptly, respond within the business day, and give clear, honest feedback on fit — no ghosting, no slow-walking. If it's not a fit, we'll tell you why. If it is, we'll move.

We steer away from distressed turnarounds, businesses built around a single key person who's unwilling to transition, heavy cyclical exposure, and anything facing imminent technological disruption. Everything else we'll look at on its merits.

A 30-minute call — no teaser, no formal deck required. We ask about the business, you ask about us, and we both leave knowing whether the next conversation is worth having.

Get in touch

If you think we might be a fit, we'd like to hear from you.

A first conversation is always informal, confidential, and without obligation. We'd rather learn about the business from you than from a teaser.

Email us directly
Office Toronto, Ontario