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  • 🎙️He bought two $5M+ companies in 2 years (completely off market and with no investors) | Michael Bourgeois

🎙️He bought two $5M+ companies in 2 years (completely off market and with no investors) | Michael Bourgeois

Author

Helen Guo
January 16, 2026

Hello SMB Deal Hunters!

This week’s podcast interview with Michael is a bit different from our usual episodes.

Michael and his partner, Ashish, buy businesses that are $5M+ in EBITDA (way above the SBA limit).

He aims to buy a new one every year.

And the last two he bought were completely off market.

Actually, 90% of ALL of his sourcing is off market.

No BizBuySell. No broker bidding wars. Just relationships built over time at conferences, through colleagues, and by doing a lot of outreach.

But we’ll get to that. First, a little bit of background…

Michael is an Air Force veteran and former private equity analyst.

He and his partner run Skyline Partnership, a holding company with two acquisitions: a cybersecurity software developer and an HVAC company doing $13-15M in revenue.

They’re aiming to build a holding company that they can pass off to their children. One that’s built to last. And they’re just getting started.

Here are some of the highlights:

🔥 The off-market sourcing playbook that's landed both of their deals (no brokers involved)

🔥 How many companies you actually have to reach to close one deal a year at their scale (the number might surprise you)

🔥 Why they send direct mail to business owners in target geographies (and what actually gets through)

🔥 The CRM habit that keeps cold leads alive until they're ready

He also shared some tactical advice I don't hear often:

❓ Why he thinks most searchers are "too agreeable" with brokers (and how to push back)

❓ What to do when a seller says "not interested" (hint: don't delete them)

❓ The industries he's most bullish on right now (they’re not the ones you usually hear)

And moments like this...

"We bought an HVAC company from a private equity firm. The old GM showed up, gave us a tour, handed us the keys, and said 'good luck.'…The first two weeks is the first time in my life I've actually lost hair."

— Michael

And for our audio-only listeners, jump in and listen on Spotify or Apple Podcasts!

Alumni Spotlight

But the path to close wasn't smooth. In the interview, Meshal breaks down:

→ How he got over the fear of starting. His advisor Mubarak told him early on: "You've started walking, but now you have to start running. Get the fear out by putting in the first CIM. Then the first LOI. Then just keep submitting." He went on to review 480+ CIMs.

→ What happened when his banker disappeared. Mid-deal, his SBA lender went silent. Meshal worked with advisors Bill and Mark to figure out how to get a response. They escalated on his behalf and kept the deal moving.

→ The after-hours call that saved his deal. Two days before closing, he had to restructure the entire deal. He reached out at 6 PM and advisor Ale jumped on a call immediately to walk him through the new structure.

→ Why he structured the doggy daycare as a partnership instead of a full acquisition, and how that single decision introduced him to the seller of his second business.

→ What he changed in his first 15 days that the seller had been trying to fix for two years, and how he collected 50-60% of outstanding receivables in his first month.

If you want to watch the full alumni interview, click below:

And here’s what he had to say when we asked him about his experience:

"I quit my job cold turkey. Even my wife didn't have a job at that time. Both of us were without a job. My friends used to keep asking, why aren't you tense? I think because I had that path. I knew very clearly this is what I wanted to do. And I had all these people guiding me. The advisors were constantly telling me, hey, California is tough, all the rules are tough, but your deal is on the way. So just do it. If this is something you're even remotely considering, take the leap.”

- Meshal

So, if you want me and my team to work with you to find, finance, and acquire a million-dollar cash-flowing business in the next 6-12 months, you might be interested in the Pro program.

COMMUNITY PERKS

• Ready to buy and operate a $1M+ business? Get expert help at every step.

• Want to invest passively in SMB acquisitions? Get access to investment opportunities.

• Get a personal introduction to my preferred SBA 7(a) lender, non-SBA lenders, Quality of Earnings providers, or legal counsel

• Raising capital for your deal? I’ll connect you with investors from the SMB Deal Hunter Community.

• Interested in selling your business? I’ll help you connect with buyers from the SMB Deal Hunter Community.

THAT’S A WRAP

Want me to interview you for my podcast? Hit reply.

See you next week with some new deals!

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This publication is a newsletter only and the information provided herein is the opinion of our editors and writers only. Any transaction or opportunity of any kind is provided for information only; SMB Deal Hunter does not verify nor confirm information. SMB Deal Hunter is not making any offer to readers to participate in any transaction or opportunity described herein.