What We Look For

Investment Criteria

We acquire established, profitable Canadian businesses with strong fundamentals, proven performance, and the potential to grow under active ownership.

  • $1M – $20M

    Annual Revenue

  • Established small and medium-sized businesses within our target revenue range.

  • Profitable

    Proven Cash Flow

  • Consistent EBITDA and cash flow supported by a history of profitable operations.

    Sector Agnostic

    Strong Fundamentals

  • We evaluate businesses on durable economics, competitive advantages, and underlying quality — not sector trends or market hype.

  • Strong Teams

    Continuity Matters

  • Strong teams are central to enduring businesses. We value companies where key employees and leadership can remain and contribute to the next chapter.

Our Approach

Designed for continuity. Built for the long term.

We take an active, principal-led approach to every acquisition, from structuring the transaction through ownership and operations.

  • 01 | Active Operational Ownership

    We work alongside existing teams to understand the business, strengthen operations, maintain customer relationships, and identify opportunities for sustainable growth.

  • 03 | Culture & Legacy

    We respect the people, culture, relationships, and reputation behind every business we acquire, protecting what works while creating the conditions for the business to evolve.

  • 02 | Collaborative Deal Structuring

    We structure each transaction around the priorities of both parties, with fair valuations, clear terms, and transparency throughout the process, creating the foundation for a successful outcome together.

  • 04 | Direct Principal Relationship

    We work directly with business owners, providing direct access to the people who capitalize, lead, and make decisions at Stone and Lantern, enabling clear communication, efficient decisions, and accountability.

What happens when you contact us

Step 01 | Introductory Call

  • A confidential conversation to understand your business, your objectives, and what you are looking for in a transition. Together, we determine whether there is a strong initial fit.

Step 02 | Initial Evaluation

  • Following an NDA, we review key financial and operational information to understand the business and assess fit. Where appropriate, we provide a preliminary indication of interest.

Step 03 | On-Site Engagement

  • We meet in person, visit the business, understand its operations firsthand, and discuss priorities for the transition before progressing to formal terms.

Step 04 | Letter of Intent

  • We present a clear Letter of Intent outlining valuation, transaction structure, key terms, and the proposed path to closing.

Step 05 | Confirmatory Diligence

  • Working with experienced legal, financial, and other advisors, we complete confirmatory due diligence, finalize transaction documentation, and prepare for the ownership transition.

Step 06 | Closing & Transition

  • We complete the legal closing, and begin the ownership transition plan, with a focus on continuity across employees, customers, suppliers, and day-to-day operations.

The Next Step Starts With a Conversation

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