IFor owners
Acquirewe buy
When a U.S. company fits what we look for, we make the approach ourselves and speak with the owner directly. No listing and no auction.
What is my business worth?Region 01 / 03
Off-market businesses inthe United States
What we do in the U.S.
Acquire, source, connect.
Three ways into the same conversation. Some U.S. businesses we buy ourselves; others we bring to acquirers whose stated criteria they meet.
IIFor buyers
Sourcewe find
Search funds, private equity firms and strategic acquirers can send us their sector, revenue range, check size and geography. We bring them owner-operated companies that match, before a broker process begins.
Price an acquisitionIIIFor both
Connectwe introduce
When we are not the right buyer, we introduce the owner to an acquirer whose criteria the business actually meets, instead of putting it in front of the open market.
Valuation multiples 2026Run the numbers
Price it before the first call.
Free calculators built on 2026 market multiples and the SBA rules in force from 1 October 2026.
BuyersAcquisition calculator Price a target on 2026 multiples and test SBA 7(a) financing, coverage and returns.OwnersWhat is my business worth? Build your SDE, see the market range and what a financed buyer can actually pay.DataValuation multiples 2026 Multiples by deal size, deal financing and country-adjusted figures. CSV and JSON.
Definition
What is an off‑market business?
An off-market business is a company whose owner would consider selling but has not listed it with a broker or on a marketplace. Buyers reach it through a direct approach or a trusted introduction, so there is no public listing, no auction, and far fewer people see the numbers.
Off-market does not mean informal. The same diligence, advisers and legal documents apply. What changes is who is in the room, and when.
For owners
- No public listing for employees, customers or competitors to find.
- You set the pace, including deciding not to sell.
- Fewer parties see your figures than in a broadly marketed sale.
For buyers
- A first conversation with the owner, not a broker’s teaser.
- Less competition than a broadly marketed auction.
- Companies that match a stated mandate, not a list of everything for sale.
By the numbers
United States, in figures.
45.9%
Share of private-sector employees who work for a small business: 62.3 million people.
Source: SBA Office of Advocacy, 202650%+
Of U.S. business owners were 55 or older in the Census Bureau's 2019 Annual Business Survey (2018 data).
Source: U.S. Census Bureau$5M
Maximum SBA 7(a) loan. A change of ownership is an eligible use, which makes 7(a) a common way to finance buying a business.
Source: U.S. Small Business AdministrationFigures are from the public sources linked under each one, checked 23 September 2026. They describe the market, not GLZR Group’s own activity.
Coverage
One search, four Census regions.
Our search covers the country. The U.S. Census Bureau groups the states into four regions; these are the ones in the contiguous map.
Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming. Alaska and Hawaii are also in the West but are not drawn on this map.
Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.
Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia and the District of Columbia.
Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont.
Where we look
Established businesses, nine sectors.
Profitable, owner-operated companies, often where the founder is thinking about retirement or succession and wants the business in the right hands.
- ManufacturingFabrication, machining, packaging and specialty production.
- Home servicesHVAC, plumbing, electrical and other residential trades.
- Construction and contractingGeneral and specialty contractors.
- Logistics and transportationTrucking, distribution, warehousing and last-mile delivery.
- Commercial and B2B servicesCleaning, facilities, staffing and other business services.
- Managed IT servicesManaged service providers and IT support firms.
- Niche B2B softwareVertical software built for a specific industry.
- Food and beverageProducers, co-packers and distributors.
- Main Street businessesEstablished local consumer businesses.
Process
How an off-market sale usually unfolds.
Six stages, from a first conversation to a closed deal. Timelines vary with the business and the buyer; the order rarely does.
A private first conversation
An owner and a prospective buyer, or GLZR Group itself, talk before anything is written down. Nothing is listed, and the owner decides what to share and when.
Fit
The business is read the way an acquirer reads it: how steady the earnings are, how concentrated the customers are, and how much still depends on the owner. Those factors shape any price discussion later.
Confidentiality before detail
Detailed financials, customer names and contracts are typically shared only after a confidentiality agreement is signed, and only with a buyer who fits.
Letter of intent
A serious buyer sets out price, structure, timing and conditions in a letter of intent.
In the U.S. the letter of intent is usually non-binding on price but binding on confidentiality and exclusivity.
Due diligence
The buyer checks what it has been told: financial statements, tax filings, contracts, employees, licenses and legal exposure. A quality-of-earnings review by an outside accounting firm is common.
Agreement, closing and transition
Lawyers turn the letter of intent into a purchase agreement and the deal closes. The owner usually stays on for an agreed transition so customers and staff carry over.
Most U.S. deals of this size close as either an asset purchase or a stock purchase, and the tax result differs sharply between the two.
Local rules
What to know in the U.S.
Buyer financing often runs through the SBA
Many buyers of owner-operated companies fund part of the price with an SBA 7(a) loan. The SBA lists changes of ownership, complete or partial, as an eligible use, and caps a 7(a) loan at $5 million.
When a buyer relies on SBA financing, the lender's requirements shape the timetable and the documents, so it pays to know early how a buyer is funding the deal.
Source: SBA, 7(a) loans
An antitrust filing is rarely triggered at this size
A Hart-Scott-Rodino premerger filing is only required when a deal crosses the size-of-transaction threshold, which rose from $126.4 million to $133.9 million on February 17, 2026.
Acquisitions of owner-operated companies in the lower middle market usually fall well below it.
Source: FTC, current HSR thresholds
Foreign buyers and CFIUS
CFIUS is an interagency committee authorized to review certain transactions involving foreign investment into United States businesses, to determine their effect on national security.
Whether a deal is covered depends on who the buyer is and what the business does. A buyer from outside the U.S. should get a view from U.S. counsel before signing a letter of intent.
Source: CFIUS
A generation of owners at the same crossroads
More than half of U.S. business owners were 55 or older in the Census Bureau's 2019 Annual Business Survey, which reflects 2018 data.
For many of them the question is not whether the business changes hands, but how, when and to whom.
Source: U.S. Census Bureau
General information, not legal, tax or investment advice. Thresholds and rules change; confirm them with a qualified adviser in the relevant jurisdiction. Sources checked 23 September 2026.
Questions
Questions owners and buyers ask.
How much is a small business worth in the United States?
Most sell on a multiple of earnings that rises with size. In Q2 2026, IBBA advisors reported 2.0x to 3.1x seller's discretionary earnings for businesses valued under $2 million and 4.0x to 5.8x EBITDA from $2 million to $50 million. GLZR Group's free calculators apply those multiples to your numbers and test what a buyer can finance under the SBA rules in force from 1 October 2026.
How do I sell my business without listing it publicly?
Go to buyers directly, or through someone who already knows who is acquiring in your sector. GLZR Group approaches owners privately. When we are not the buyer ourselves, we introduce the business only to acquirers whose criteria it meets, rather than listing it.
Does GLZR Group buy businesses itself?
Yes. GLZR Group acquires select companies directly. Where a business is a better fit for another acquirer, such as a private equity firm, a search fund or a strategic buyer in the same industry, we source it for that buyer or connect the owner with them instead.
What kinds of U.S. businesses does GLZR Group look for?
Established, profitable, owner-operated companies, often where the founder is thinking about retirement or succession. The sectors we cover include manufacturing, home services, construction, logistics, commercial services, managed IT, niche B2B software, food and beverage, and Main Street businesses.
I'm a buyer. How do I see off-market opportunities from GLZR Group?
Email contact@glzrgroup.com with your sector focus, revenue or EBITDA range, check size and target geography. We only send opportunities that fit those criteria, so a clear mandate gets you more relevant flow, not more noise.
What is the difference between an asset sale and a stock sale?
In an asset sale the buyer purchases the company's assets, and usually only the liabilities it agrees to take on. In a stock sale it buys the owner's shares and the company comes with them, liabilities included. Buyers often prefer asset purchases and sellers often prefer stock sales, largely for tax reasons, so bring in a CPA and a deal attorney early.
Do I have to decide to sell before talking to GLZR Group?
No. A conversation is not a listing and commits you to nothing; the business stays yours unless you decide to move forward.
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