Off-market deal sourcing · Lower middle market
Cordane finds established, owner-run businesses whose owners are approaching retirement and have not started a sale process, and introduces them to the buyers who acquire in their sector.
Six sectors• Canada & U.S.• Owner-run businesses• 90 days
The Firm
Cordane sits between two parties. On one side, private equity firms, independent sponsors, search funds, family offices, roll-up platforms and strategic acquirers. On the other, long-tenured founders of established businesses who are weighing a sale or a succession and have not started a process. We find the second group for the first.
Cordane is a boutique firm, founded and run by Jeremiah Khanh, Principal. Every conversation with an owner and every introduction to a buyer is handled by him directly.
We introduce. We do not represent either party in the negotiation and we do not advise on price.
Owner-run businesses in your sector, found and approached against your written mandate.
An introduction to a buyer who acquires in your industry, if and when you want one. Until then, nothing commits you.
For Buyers
A marketed sale is designed to put every qualified buyer in front of the same business at the same time. Being on the list is not the same as being early.
The owners already in a process are the ones everyone can see. The ones worth reaching have not decided yet.
In a process, price comes first and fit is tested in diligence. Reaching an owner early lets both sides test fit before anyone is negotiating.
A buyer can lose a business without ever being outbid. Capital is not the constraint. Finding the right business early is.
The Thesis
Sources: Canadian Federation of Independent Business (CFIB), release of 10 January 2023, small business owners. U.S. Census Bureau, Annual Business Survey, data year 2018, published 25 September 2020, owners of employer businesses. These figures describe business owners generally, not the six sectors specifically.
Sectors
A deliberate set, not any industry. Each one shares three traits.
Heating, ventilation and air conditioning service and installation businesses.
Licensed contracting businesses serving residential and commercial customers.
Licensed service businesses, typically built on recurring customer routes.
Inspection, testing and servicing of fire protection and life safety systems.
Independent agencies and brokerages with established client books.
Advisory practices and firms, typically $50 million to $500 million in AUM. 37% of U.S. financial advisors, collectively controlling $10.4 trillion, are expected to retire within ten years. 39.5% of Canadian brokerage advisors surveyed in 2026 report no succession plan.
Sources: Cerulli Associates, 13 June 2022. Investment Executive, 2026 Brokerage Report Card, 19 June 2026.
How We Work
What you want to acquire, written down: sector, size, geography, structure, and the deals you have passed on and why.
The owner-run businesses in your sector and region that fit, built from public licensing and registration records.
Discreet, direct conversations with owners. Your name is not shared until an owner has agreed to meet.
Warm introductions with both sides briefed, then a handoff to your deal team. We do not run the process from there.
A 30-minute call to hear what you want to acquire. A written mandate within two weeks. First introductions within ninety days.
Define your mandateFor Owners
You may be reading this because Cordane reached out. We contact owners of established businesses in the sectors we work in. It does not mean anyone expects you to sell, and it does not start anything.
Half of Canadian small business owners (54%) say finding a suitable buyer or successor is their most common obstacle to succession planning, and 84% of those looking to sell say choosing a buyer who will carry forward their way of doing business is important.Source: CFIB, 10 January 2023.
A conversation is not an engagement. You sign nothing, pay nothing, and are under no obligation. If you later want to meet a buyer, you decide whether, and when.
Prefer to write first? Use the form below.
Arrange a Call
Every enquiry is confidential and read by Jeremiah directly.
Thirty minutes, no preparation needed. Choose Mandate Discussion if you are a buyer, or Introductory Call if you own a business.
Choose a Time