{"id":6342,"date":"2026-10-04T19:54:27","date_gmt":"2026-10-04T19:54:27","guid":{"rendered":"https:\/\/amerivestgroup.com\/?p=6342"},"modified":"2026-10-05T21:12:28","modified_gmt":"2026-10-05T21:12:28","slug":"who-is-buying-businesses-2026","status":"publish","type":"post","link":"https:\/\/amerivestgroup.com\/en\/who-is-buying-businesses-2026\/","title":{"rendered":"Who Is Buying Businesses in 2026? Not Just Private Equity"},"content":{"rendered":"\t\t
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FOR SELLERS<\/p>\t\t\t\t<\/div>\n\t\t\t\t

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Who Is Buying Businesses in 2026? Not Just Private Equity<\/h1>\t\t\t\t<\/div>\n\t\t\t\t
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Most owners have no idea who would buy their business. Competitors, first-time owners with SBA loans, search funds, sponsors and family offices each look for different things. Here is what they want and how to position for each.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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Who is out there, what they look for, and what you can do about it.<\/p>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Most owners have no real picture of who would buy their business. That’s normal. You sell once, so there’s no reason you’d know. The usual guess is private equity, because that’s what the news covers. But who is buying businesses in 2026 is a wider group, and each kind of buyer is shopping for something different.<\/p>

Axial, a marketplace for lower-middle-market deals, reported that private equity and independent sponsors made up 61% of the deals that closed on its platform in 2021, and 45% in 2025 (Axial, February 2026<\/a>). That covers all deal sizes, so it can’t tell you what happens at your size. It does show the buyer may not be a fund.<\/p>

Below are the types you’re most likely to meet. For each one: who they are, what they look for, and how to position your business. You won’t pick your buyer. But your business can look good to more than one of them.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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I. The Company Already in Your Industry<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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A strategic buyer is a business that already operates in your industry: a competitor, a supplier or a customer.<\/p>

What they look for.<\/strong> Lutz, an accounting and advisory firm, says strategic buyers are usually trying to enter new markets, widen what they sell, or pick up specialized skills and people. Because they can combine operations, they can often pay a premium. Axial’s interviews with investment bankers (2018, updated 2020) found they worry less about customer concentration, since their own customer base spreads the risk, and may accept a thinner management team, since they have people to move in.<\/p>

How to position yourself.<\/strong> Show what they can’t easily build themselves: customers, skilled staff, a location, a certification, a process that works. Be ready for sharp questions, because they know what normal looks like in your industry. And protect yourself. Lutz warns that when the buyer is a direct competitor, protecting sensitive information becomes a major concern. Get a confidentiality agreement signed first and share in stages.<\/p>

On financing, our SBA article<\/a> notes a buyer already in the industry can qualify for a loan at a lower coverage ratio (1.15x) than a first-time owner (1.25x).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Amerivest Tip<\/strong>
Before a competitor sees anything, ask who at their company will read it. Customer names and pricing can wait until later in the process.<\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
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II. The First-Time Owner Using an SBA Loan<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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This is someone buying a business to run it themselves, usually borrowing part of the price through an SBA-backed loan. We can’t tell you what share of deals they make up, but their lender’s checklist is public.<\/p>

What they look for.<\/strong> Under the rules that took effect October 1, 2026:<\/p>