Founder-led platforms
Sell most of it. Keep running it. Own a piece of what comes next.
For the owner who wants money off the table but isn't done — and whose business could be the foundation of something bigger.
What it is
A majority sale you stay behind.
You sell a majority of the business to Fellwater. You keep a meaningful stake, you keep running it, and the business becomes the first of a group we build together in your industry.
You get cash now for most of what you built. Monday looks like Friday: same desk, same name on the trucks, same team. What changes is what's behind you — a bank that returns calls, insurance and purchasing at a size a single company can't get, a bench when someone leaves, and capital to buy the competitor across town or open the next location.
Owners who choose this tend to say the same thing: they were tired of carrying the risk alone, not tired of the work.
How it works
Four parts, all in writing.
Typically 60 to 80 percent of the business, at a price set the way we set every price: what it earns for the next owner, times a multiple we show you. Cash at close for the part you sell, with any note or earn-out named and explained.
The part you keep is equity in the business, or in the group it anchors. What security it is, what sits ahead of it, and how it could dilute are written down before you sign. Your CPA and attorney should read that page.
You run the business. We set the reporting rhythm together and stay out of the day-to-day. Big decisions — a large hire, an acquisition, a new location — we make with you, not for you.
Together we buy businesses that fit alongside yours. Your knowledge of the industry is most of what makes that work; our capital and our process are the rest.
The honest version
2×
If the group compounds, you get paid twice.
Once at close, and again when the stake is worth more than it was. It can also be worth less, or take longer than you'd like to turn into cash. A retained stake is an investment, not a guarantee, and we'll say which we think it is for you.
In plain terms
The honest version.
A retained stake is an investment, not a guarantee.
If the group compounds, you get paid twice: once at close and again when the stake is worth more than it was. It can also be worth less, or take longer than you'd like to turn into cash. You're trading some certainty now for a share of what comes next, and that trade is right for some owners and wrong for others. We'll say which we think you are, and we'd rather you bring your CPA and attorney into that conversation early than late.
Who it's for
Right for some owners, wrong for others.
Usually a fit
- An owner in their fifties or sixties who wants money off the table and isn't done
- A business earning roughly $1–3M a year with room to grow by acquisition
- An industry with many good, small, owner-run businesses and no obvious consolidator
- An owner who'd rather build the group than be bought by one
Usually not
- An owner who wants out completely — a full sale is the cleaner path, and we do those too
- A business that only works with the owner in it
- An industry where scale doesn't create an advantage
Want money off the table but aren't done?
Tell us about the business you'd keep leading. A sentence or two is enough, and it reaches the person who decides.
Prefer to reach us directly? inquiries@fellwater.com · Call or text (206) 895-7474
What to expect
Then, if it might fit:
- A short call with the person who decides
- A written offer after basic financials, not a range
- A timeline set before you commit, and a call from us if it moves
- No contact with your people or customers without your say-so