Continuity over disruption
We buy from owners who've built something real, and we respect it. When a founder steps back, our job is to protect what works — the team, the customers, the reputation — and strengthen it.
Permanent Capital · Founder-Led Businesses
A permanent home
for great businesses.
North Meadow Capital acquires and builds profitable, founder-led businesses for the long term. We provide owners with a thoughtful transition and businesses with patient capital for the next chapter of growth.
Patient capital. Long-term ownership. Thoughtful transitions.
Permanent
Ownership with no exit date
Founder-Led
The businesses we acquire
Profitable
Durable, cash-generative
Reinvested
Cash flow back into growth
The Firm
A long-term owner of good businesses.
North Meadow Capital is a permanent-capital acquirer of profitable, founder-led service businesses. We buy good companies and intend to own them for a long time — giving owners a thoughtful transition, and their businesses patient capital for the next chapter.
We have particular interest and experience in infrastructure and mission-critical services, and we look more broadly across industrial, technical, and niche B2B services. We invest behind businesses rather than managing toward an exit, and we reinvest cash flow into organic growth and, over time, additional acquisitions.
We measure success in decades, not exits.
Our Approach
How we own.
Beyond the founder
We build the processes, team depth, and operating discipline that let an owner-dependent business run — and grow — without depending on any single person.
Permanent by design
We do not acquire businesses with a predetermined exit date. We make decisions for where a company should be in twenty years, not by the nearest fund deadline.
Conservative by nature
We use leverage conservatively and reinvest cash flow patiently. Steady compounding, not financial engineering, is how we build lasting value.
Investment Strategy
What we acquire.
We acquire profitable, founder-led service businesses and own them for the long term. We have particular interest and experience in businesses supporting data centers, critical infrastructure, and technically demanding end markets.
Areas of Interest
What We Look For
- Established operating history
- Consistent profitability
- Strong customer relationships
- Recurring or repeat revenue
- Durable competitive positioning
- Healthy cash generation
- Low to moderate capital intensity
- Room to grow organically or through acquisitions
- A team capable of scaling beyond the founder
We are flexible when a business has exceptional qualities that fall outside our typical profile.
Situations We Consider
- Founder succession
- Owner retirement
- Partial or full liquidity
- Family-business transitions
- Growth capital
- Management transitions
- Add-on acquisitions
- Businesses ready for operational investment or professionalization
Typical Transaction Profile
- Profitable lower-middle-market businesses
- Control investments
- Majority or full acquisitions
- Flexible transaction structures
- Long-term ownership
- Conservative use of leverage
Geography
Primarily the Southeast United States.
We are willing to consider compelling opportunities outside our core geography.
For Owners
You built more than a business.
Selling the company you built is about far more than price. It's your employees, your customers, your reputation, and the culture you spent years creating — and it's your own next chapter.
North Meadow seeks to be a long-term steward of the businesses we acquire. We respect the relationships, reputation, and culture owners have spent years building, and we work collaboratively toward a thoughtful transition.
We buy good businesses and intend to own them for a long time. For your people and your customers, that means continuity — and a genuine home for what you've built.
Start a Confidential ConversationAfter the Acquisition
Building for the next chapter.
Once we acquire a business, our job is to strengthen it — protecting what already works while investing where it helps the company grow and rely less on any single person, customer, or relationship.
We aim to make each business more durable and less dependent on any single person — without disrupting the things that made it successful in the first place.
For Brokers & Intermediaries
A straightforward buyer.
North Meadow welcomes opportunities from business brokers, investment bankers, M&A advisors, accountants, attorneys, and other trusted advisors. When you bring us an opportunity, we aim to:
- Respond quickly
- Give clear, honest feedback
- Respect your process and timelines
- Protect confidential information
- Be straightforward about fit
- Build lasting relationships with advisors
Leadership
Founder-led, and personally accountable.
Michael Berkman, MBA
Founder & Managing Partner
Michael Berkman is the founder of North Meadow Capital, which he is building as a permanent-capital owner of profitable, founder-led service businesses.
At INFOPIPE, a manufacturer's representative serving data center infrastructure markets, Michael works in business development across the Southeast — building relationships with operators in structured cabling, building automation, fire and life safety, and critical power, and evaluating potential acquisition opportunities.
He is also the founder of 407 Lacrosse Training, a youth and competitive lacrosse program in Central Florida, where he has managed team operations, financial performance, and growth for over three years.
These experiences have given Michael a firsthand perspective on how owner-dependent service businesses actually operate — how durable customer relationships form, where recurring revenue comes from, and what it takes to build systems that scale beyond the founder.
North Meadow Capital reflects a straightforward conviction: profitable businesses performing essential work deserve an owner who isn't managing toward an exit — one aligned with the long-term value these businesses can create.
Contact
Start a conversation.
Business Owners
Considering a transition? We'd welcome a confidential conversation.
Brokers & Advisors
Have a business that may fit our investment approach?
Every inquiry reaches Michael directly and is treated as confidential.