Businesses · Permanent capital
OPERATORS FIRST.
We acquire controlling stakes in well-run services businesses and operate them for the long term.
Pagurian is a private holding company investing from our own balance sheet. Business is a team sport — we buy one good company at a time and stay involved.
Discuss a business →
WHAT WE'RE LOOKING FOR.
Control acquisitions in fragmented, durable industries — with the intention of holding for the long term.
- Revenue
- $5–30M
- $1–3M of annual cash flow.
- Focus
- NICHE MANUFACTURING
HOME SERVICES
B2B SERVICES
TECH / TECH-ENABLED SERVICES - Geography
- WA · OR · ID
NV · CA · FL - & elsewhere when it fits.
- Ownership
- CONTROL
- Majority preferred; seller rolls welcome.
WHY SELL TO US.
We respond to every serious inquiry, move fast, and keep conversations confidential.
Deal with the principal
James is the buyer, operator, and person you talk to post-close. No associates, no hand-offs, no process teams.
We don’t re-trade
Our LOI is the deal we intend to close. Diligence confirms what we’ve been told — it isn’t a tool for reopening price.
Seller notes welcomed
We actively structure seller financing as part of the capital stack. It aligns incentives and often bridges valuation gaps.
Long-term owners
We are a holding company, not a fund. Businesses we buy become permanent portfolio companies — not assets waiting on an exit.
Operator credibility
We run services businesses and real estate today. We understand operations — not learning on your customers' time.
Equity rollover option
We encourage sellers to roll 10–20% of their equity post-close. The best deals we've done are partnerships — not handoffs.
HOW WE WORK WITH OWNERS.
Every deal is shaped around what the owner wants next. Most fall into one of three structures.
Partnership
TAKE SOME CHIPS OFF THE TABLE.
Sell a majority, keep running the business with a capital partner behind you.
- We buy51–80%
- Owner keeps20–49%
- Owner’s roleStays on as CEO / operator
- Best forOwners 5+ years from retirement
Sale / Transition
HAND OFF ON YOUR TIMELINE.
Sell most or all of the business and step back over an agreed transition.
- We buy80–100%
- Owner rolls0–20%
- Owner’s role12–36 month transition, then advisory
- Best forOwners planning retirement who care who takes over
Add-on
JOIN A PLATFORM WE ALREADY OWN.
Smaller businesses in a market where we already operate — pest control in Southern California, for example.
- We buy100%
- StructureCash at close; seller note or earn-out welcome
- Owner’s roleStay on, or exit at close
- Best forEBITDA $100K–$500K in a market we know
WHO WE BUY FROM.
We are looking for owner-operators who have built something real and are thinking about what comes next — retirement, succession, or the right long-term partner for the business they've built.
We are not the right buyer if you're optimizing purely for the highest valuation. We are the right buyer if you care about what happens to your employees, your customers, and your reputation after you exit.
The businesses we target tend to share a common profile: fragmented industry, locally dominant, recession-resilient, with strong recurring revenue and an owner who has been the key driver of growth. We have the operational infrastructure to absorb key-person transitions.
For brokers & intermediaries: we move quickly on deals that fit, maintain confidentiality, and do not re-trade.
ADVISORS & PARTNERS.
Founder & Principal
JAMES WRIGHT
James spent his early career inside the private family office of Jim Downey — one of Orange County’s most successful self-made entrepreneurs — where he contributed to the acquisition, integration, and operational improvement of two aerospace manufacturing companies that collectively grew to $300M+ in enterprise value before exits to PE-backed AC&A and Boeing. Since founding Pagurian, he has been involved in financing and operating $250M+ of real estate across 26 properties, and has built and acquired businesses across pest control, self-storage, and consumer brands. He leads deal sourcing, underwriting, and post-acquisition operations across Pagurian.
Special Advisor — Head of Production, Anduril
GREG MUMPOWER
Aerospace and defense executive with two decades leading complex organizations. As GM with full P&L oversight, led five divisions through major operational transformations.
Technical Advisor — Product Lead, Amazon AI & Agentic Ads
EMAD HASAN
Entrepreneur and AI/ML leader; founded and scaled venture-backed SaaS. Former roles at Meta and PayPal. MBA UCLA Anderson, MEng RPI.
EIR — Entrepreneur (Exited), DTC & eCommerce
DAN MORRIS
Co-founded SugarBear Hair in 2015; partial exit in 2021. Focused on private investing in consumer brands and commercial real estate.
Marketing Consultant — Fortune 500 CMO
LIZ ELERT
Branding expert with 25+ years across Limited Brands, Honest Co, Target, and related consumer brands. Consults as Chief Brand Officer for emerging and established brands.
Get in touch
HAVE A BUSINESS TO DISCUSS?
Whether you're a seller, broker, or CPA — we respond to every serious inquiry and keep conversations confidential.
Email James →