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SMALL BUSINESS M&A
Operator-led M&A for government contractors and essential services companies
Thurion Capital is a Special Forces-founded, operator and veteran-led M&A firm. We buy and run services and technology companies in government contracting and essential services, and through Thurion Advisory Services we work beside owners and sponsors on their own acquisitions and exits. Operator and talent first, capital second.
The Market We Work In
WHY THURION
Thousands of founder-led services and technology businesses, the companies that keep government and commercial missions running, are reaching succession with no plan. Strategics ignore them because they are too small. Financial buyers mis-price them because they cannot operate them. Owners get squeezed, investors get decks instead of operators, and good companies get broken.
The Operator
Led by a retired Special Forces Green Beret who acquired and currently operates TCS, a GovCon engineering firm with SDVOSB certification and active contract vehicles. Not a thesis on paper. An operating platform we run every day.
The Platform
Every acquisition lands on infrastructure that already exists: an in-house talent firm, a business development and proposal team, government contracting expertise, and an operating method built in special operations and tested on our own companies. The advisory division runs the same screens for clients that we run for ourselves.
The Opportunity
Founders of high-quality government and essential services firms are aging out with no succession plans. Strategic acquirers ignore this segment because individual targets are too small. The result: sticky, contract-backed revenue at reasonable multiples, available to operators who know the space.
4 PHASE VALUE CREATION
THE THURION MODEL
Acquire & Integrate
01
YEAR 0 - 1
Acquire mission-critical firms at fair multiples. Day one: preserve what made the firm great, integrate our value creation platform focused on talent strategy, opeartional excellence with SOF-based operating frameworks, AI integration and business services common to all; we bring the growth engine.
03
Commercial Rev
YEAR 1 - 5
Organic Growth
02
YEAR 1 - 3
Win new direct contracts, cross-sell capabilities across portfolio companies, and expand existing contracts through work-share provisions. Our talent company feeds vetted people directly into new wins.
Tuck-Ins & Exit
04
YEAR 1 - 5
Every target has dual-use potential: a second, commercial revenue stream with higher margins and shorter sales cycles. Diversification built into the asset.
Acquire small complementary firms to add capabilities, markets, and customer diversification. Build a diversified, institutionally managed platform that strategics and larger PE firms compete to acquire.
OUR PARTNERS
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