Investment Criteria
$3-10M
Target EBITDA
$10-50M
Enterprise Value
>15%
EBITDA Margins
Business Profile
Profitable, light industrial businesses serving fragmented B2B markets with strong cash flows, recurring revenues and a history of growth.
We seek opportunities where operational improvements and revenue expansion can unlock value under full ownership.
Target Industries
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Industrial Manufacturing
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Industrial Distribution
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MRO and Industrial Services
Target Geography
Businesses located anywhere in Canada
Our Approach
Small and medium-sized enterprises are the backbone of the global economy. Today, many founders who built these businesses over decades are approaching retirement, and not every company has a clear successor.
For many owners, selling is not just a financial event; it is a succession decision. They care deeply about their employees, customers, and the legacy they have created. The question is not only price, but who will carry the business forward.
Our approach is built around that reality. We partner with founders seeking a thoughtful transition; one that protects culture, relationships, and reputation. We do not pursue short-term flips or financial engineering. Instead, we provide long-term stewardship, stable leadership, and continuity for employees and customers, ensuring the business continues to grow and thrive in its next chapter.
Our Partner
Novastone Capital Advisors (NCA) is a global firm addressing succession challenges faced by small and medium-sized enterprises (SMEs) through its Operator-Led Search Fund Program.
NCA partners with experienced, mid-career operators who bring deep industry expertise and leadership experience. These operators identify, acquire, and lead privately held companies across Europe, the United States, and Canada—providing a credible and long-term succession solution for founders.
Since its founding in 2019, NCA has partnered with more than 70 operators, completed 28 acquisitions, and supported nearly $500 million in enterprise value alongside co-investors and lenders.
Leadership
Ugo brings more than 23+ years of experience building and growing businesses in industrial manufacturing, building and construction products, and the energy sector. Over his career, he has held leadership roles across sales, strategic marketing, business development, and engineering, with responsibility for P&Ls up to $80 million and sales portfolios of more than $100 million. He has led teams, launched products, expanded markets, and driven operational improvements within both Fortune 500 companies and globally recognized family-owned enterprises.
He is lives in Toronto, ON, Canada, and has lived/worked in the United Kingdom, Switzerland, Liechtenstein, and Africa, and with business assignments and travel across North America, Europe, Africa, Australia, and Asia-Pacific.
He holds an MBA from Cranfield School of Management in the United Kingdom and a Bachelor’s degree in Electrical and Electronics Engineering.