If you've spent years — maybe decades — building a profitable, well-run business, you know better than anyone how rare that is. You've probably started thinking about what happens next. Whether that's soon, or five years away, we'd like to be part of that conversation.
Have a confidential conversation →You've heard the options. Sell to a competitor and watch the culture disappear. Sell to private equity and be shown the door in eighteen months. List with a broker and run a process that feels like an auction. Hand it to your kids, even if they don't really want it.
None of those feel quite right. We know.
There's another option. A buyer that pays a fair price, keeps your management team in place, holds your business permanently, and genuinely wants what you've built to keep going the way you built it.
That's PermaTech.
We're not shopping for distressed businesses or turnaround plays. We're looking for businesses that are already excellent.
One of the things sellers tell us they hate most about the traditional process is the complexity and uncertainty. Here's what working with PermaTech looks like.
You reach out. We have a conversation — by phone, email, or coffee. No NDA required at this stage, no paperwork. Just a genuine discussion about your business and whether we might be a good fit. Completely confidential.
If there's mutual interest, we'll ask to understand your business better — financials, customers, operations, team. We'll sign an NDA. We move at your pace, not ours.
If we want to proceed, we'll make you a clear offer. We use 3–5x EBIT as our typical framework. We don't lowball and then renegotiate in due diligence. What we offer is what we mean.
Standard due diligence — straightforward, not adversarial. We're trying to confirm what we already believe about your business, not find reasons to chip the price. Once done, we close.
Nothing changes that doesn't need to change.
Your management team continues to run the business. Your people stay. Your customers deal with the same faces they always have. Your brand stays intact.
We're not merging you into a corporate structure. We're not sending a team of consultants to "optimise" your operations. We don't have a playbook we run on every acquisition.
What we do is provide stable, committed, permanent ownership — and occasionally, when it's useful, resources or introductions that help the business grow. Financial support for a strategic hire. A connection to another business in our portfolio. Advice when you ask for it.
The business you built continues. Your legacy continues. Your people continue.
We've never sold a business we've acquired. We're not starting now.
In 2024, we acquired Tubman Heating Limited — New Zealand's specialists in industrial and commercial boiler and burner systems, founded in 1984.
Forty years of technical expertise. Forty-five staff. A loyal customer base across industrial and commercial New Zealand.
When we completed the acquisition, nothing changed. The same management team. The same people. The same commitment. Tubman continues to run exactly as it always has — with the added security of a permanent, committed owner behind it.
Rarely, and never without good reason. We acquire businesses because they're already well-run. Our model depends on management teams continuing to do what they're good at. We're not here to restructure your operations.
They stay. That's not a promise we make reluctantly — it's core to how we work. One of the things that distinguishes PermaTech from PE or trade buyers is that your people stay with the business they know, with the culture they helped build.
No. Your brand is part of what makes your business valuable. We have no interest in retiring it.
Private equity buys businesses to sell them, usually within three to five years. They typically bring in new management, implement a performance improvement programme, and exit to the highest bidder. That's a legitimate model for some businesses. It's not what we do. We hold forever. We don't have a fund life or an exit mandate.
No. We don't run auctions and we don't participate in them. If you're running a competitive process through a broker, we're probably not the right fit. We prefer direct, confidential conversations with business owners — no intermediaries, no theatre.
We typically pay 3–5x EBIT for businesses that meet our criteria. We're transparent about that from the first conversation. We're not going to offer you 7x to win the deal and then re-negotiate in due diligence. You'll know what to expect.
It's up to you. Some sellers want a clean break. Others want to stay involved for a transition period — or even longer. We're flexible. What matters is that the management team running the business day-to-day has the continuity and capability to keep things going well.
Have the conversation anyway. If your business is close, or if there are circumstances worth explaining, we'd rather know. Sometimes the right conversation happens at the wrong time — and we'd rather be on your radar when the time is right.
You don't need to be ready to sell tomorrow. If you're thinking about the next chapter — for yourself, for your team, for the business you built — we'd like to understand your situation. Everything we discuss is confidential. There's no obligation. No process until you're ready for one.
— Chuck Slogrove and Joel Surges, PermaTech