We buy businesses in the lower-middle market, and help searchers do the same.
Business Owners
We acquire majority stakes in $5M-$10M EBITDA businesses. We are long-term partners looking to hold for life.
We work closely with you on the key challenges of your business over the next decade: growth, strategic positioning, and succession planning.
Businesses We Own
North Star Dining
Alongside our partners at Jigsaw Capital and Clear North Capital, we purchased 18 Five Guys locations in Minneapolis & St. Paul and 17 locations in Orlando. As big fans of the brand, we are excited to help grow Five Guys across the nation, while maintaining what makes it incredible.
CDS Foods
In mid-2024, we partnered with CDS Foods Inc., a Montreal-based leader of specialty produce imports in Canada. We are working alongside existing ownership to strategically grow the business.
Undisclosed
In late 2023, we finalized our first partnership with a mature and industry leading Ontario professional services brand, acquiring a majority stake in the company. Today, we are helping previous ownership grow the business both within Ontario and across Canada.
Traditional Searchers
We acquire minority stakes (10%-20%) in traditional search funds and their follow-on acquisitions.
We work closely with our searchers on deal flow, diligence, deal structuring, and operational success.
Search Funds We've Backed
Kaizen X Capital
In Q4 of 2025, Gestalt backed Kaizen X Capital founded by Ilia Lotov.
Cesares
Summit Revere Capital
In Q3 of 2025, Gestalt backed Summit Revere Capital founded by Carmen Sebro.
Cesares
TEO Capital Partners
In Q3 of 2025, Gestalt backed TEO Capital Partners founded by Omar Garcia Ramirez.
Cesares
Quaerite Capital
In Q2 of 2025, Gestalt backed Quaerite Capital, a New York -based search fund founded by Darko Kajevik.
Cesares
Suncoast Search Capital
In Q2 of 2025, Gestalt backed Suncoast Search Capital, a Florida-based search fund founded by Joseph Papin.
Cesares
Rumi Capital
At the beginning of 2025, Gestalt backed Rumi Capital, a Calgary-based search fund. It is co-led by Parsa Samavati and Sorabh Dutta.
Undisclosed
Currently in stealth mode, Gestalt backed this partnered search in Q1 of 2025.