What we buy
Established, profitable, and worth keeping.
Roughly $1–3M a year of earnings, in most industries, Pacific Northwest first. The whole company, or most of it with you still running it.
What's a fit
Rules, not boxes.
Usually
- Profitable today. Real, verifiable earnings — roughly $1–3M a year before interest, taxes and depreciation.
- Been around. You've survived a downturn or two.
- Runs without you for a month. A manager, a bench, or systems solid enough that we can find one.
- Customers who come back. Contracts, routes, renewals, a phone that won't stop ringing.
- No customer you can't afford to lose.
- An owner who cares what happens next.
Usually not
- Pre-revenue, or a plan with a logo.
- Earnings that only work because you never paid yourself.
- The business is really you: your license, your hands.
- An auction where the highest number wins regardless of who owns it Monday.
Not sure it fits? Send it. A division, a location, the building, or a business that went to market and didn't sell are all real conversations.
Structures and situations
How a deal can be shaped.
The whole company. Cash at close for what you built, your role your choice.
Most of it, with you running it. A majority sale, a meaningful stake kept, the same desk Monday, and a piece of what comes next. Founder-led platforms
Now and then: a division, a location, or the real estate.
Situations we see most: an owner ready to retire; succession with no successor; an owner who wants money off the table and isn't done; a business that went to market and didn't clear.
Run the cursory checkNot sure it fits? Send it.
A division, a location, the building, or a business that went to market and didn't sell are all real conversations.
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