The SMB Deal Hunter Podcast He bought two $5M+ companies in 2 years (completely off market and with no investors)
Jan 16, 2026
Michael Bourgeois, an Air Force veteran and former private equity analyst who cofounded Skyline Partnership. He explains buying two off‑market $5M+ businesses with no outside investors. Short takes on their off‑market sourcing playbook, why they contact thousands of companies to close one deal a year, their use of direct mail and a CRM habit to keep cold leads alive, and the long‑term holding company vision.
AI Snips
Chapters
Books
Transcript
Episode notes
Keep Founders Invested After Buyout
- Use flexible non-SBA structures to keep founders invested with equity and creative seller financing.
- Offer earnouts, payment-in-kind, or equity stakes to retain founders and align growth incentives.
Long Holds Unlock Compounding
- Holding companies aiming for permanence benefit from long horizons to compound returns.
- Reinvesting owner salaries into growth yields superior ROIC over 10+ years.
Use SBIC And Equity Before Private Credit
- If you can, fund initial deals without outside investors but plan to raise for scale.
- Mix SBIC debt and equity before relying on pricier private credit for future deals.
