About us
Merrymaker Capital specializes in control investments in privately held companies with $2.0 to $20.0 million in EBITDA. We focus on founder-owned and family-led businesses seeking an alternative to traditional buyers. As the "Third Buyer Type," we provide an appealing option for owners with reservations about private equity or those hesitant to sell to strategic acquirers.
Merrymaker's diverse capital base comes from experienced entrepreneurs, patient family offices, and flexible institutional partners. Unlike traditional private equity, we provide flexible, patient capital solutions to meet the unique needs of each opportunity without the structural constraints of a traditional private equity fund.
As an operationally focused investment firm, we build companies by growing people, enabling technology, and sharpening strategy. Our deep bench of operating and advisory partners deliver experience and acumen to help teams avoid obstacles, accelerate growth, and build enduring value.
Industries of interest
We invest in scalable, all-weather companies that provide essential services to businesses and consumers.
Essential Engineering Services
Financial Management and Advisory Services
Logistics & Supply Chain Services
Fleet Management Services Industrial Services
Workforce Training and Certification Services
Technical Writing and Documentation Services
Linguistics and Documentation Services
Business Process Outsourcing
Third Party Administration
Facility Management Services
Environmental, Health, and Safety Services
Building Engineering Services
Specialty Maintenance for Critical Infrastructure
Environmental Consulting and Remediation Services
Outsourced Maintenance Services for High-Value Assets
Tree, Plant, and Grounds Maintenance
Route-Based Business Services
Outsourced Facility Services
Human Capital Services
Hearing Health, ENT, and Audiology
Healthcare Compliance and Documentation Services
Outsourced Medical Billing, Coding, and Scribe Services
Autism and Behavioral Therapy Services
Occupational Health and Rehab
Primary Care and Concierge Medicine
Home Health and Hospice
Inventory Auditing and Verification
Background Check, Employee Screening, and Compliance Services
investment criteria
Continental U.S. & Canada Headquarters
Revenue: $10+ million
EBITDA: $2 - $20 million
Stable or Growing Revenue
10% or Greater EBITDA Margin
Entrepreneur-Led
Family-Owned
Low Cyclicality/Seasonality
Predictable Revenues
Solid Management Team
Defensible Market Position
Niche Leader
5+ Year Operating History
Sticky Customer Relationships
Diverse Customer Base
Our team
Travis Conway
Founder and Managing Partner
Travis has a palpable passion for the lower-middle market and is committed to solving inefficiencies while helping businesses and management teams reach full potential by connecting capital with opportunity; talent with technology, systems, and processes; strategy with execution; and corporate success with personal fulfillment.
As a trusted advisor and capital source, Travis has helped over 100 privately-held companies build and realize nearly $2.0 billion in value through acquisitions, divestitures, capitalizations, and exits.
In 2018, Travis partnered with 3 world-class entrepreneurs to provide a better way of serving and partnering with emerging companies and their leaders with the launch of Rallyday Partners: a private investment vehicle “for founders, by founders.” Through two funds totaling $350+ million, Travis lived Rallyday’s purpose: empowering leaders to go even bigger, creating the most value for the most amount of people, and sharing in the experience of a lifetime.
Travis owned and led SDR Ventures, a boutique investment bank for privately held, founder-led companies. Under his leadership, SDR grew from a team of three in 2005 to become the largest lower-middle market investment bank in the Rocky Mountain region.
Recognizing the capital inefficiencies in the lower middle-market, Travis and his partners at SDR founded Coulton Creek Capital, a private debt and equity investment firm. Filling the void between traditional senior lenders and equity investors, Coulton Creek’s mezzanine capital provided private businesses with flexible, patient capital.
Named as a “40 under 40 Emerging Leader” by M&A Advisor and selected as a “GenXYZ Top Young Professional” by CoBiz Magazine, Travis has proven to be one of the top young talents in Colorado. His transactional work has earned numerous awards at the national level ranging from “Consumer Deal of the Year for the Americas” to “Best Sell & Buy-Side Advisory – USA”.
Travis lives in Littleton, Colorado with his wife and 3 children. When he’s not working, you’ll find him coaching or cheering from the sidelines at any number of youth sporting events and extracurricular activities; cycling over mountain passes and gravel roads; skiing with controlled-abandon; golfing poorly but “with potential”; camping; fishing; reading voraciously; or serving in his church and community.
core values
Central to our investment philosophy is the goal of empowering people and elevating performance. We believe fulfillment is achieved when a transaction is properly capitalized, investments in management and employees promote growth, and stakeholders and shareholders are strategically aligned.
Done correctly, this earns us the moniker: Merrymaker.
We exhibit these values in everything we do:
- Confidentiality
- Integrity
- Hard Work
- Curiosity
- Timeliness
- Alignment
- Relationship
- Respect
- Trust
Strategic buyers and traditional private equity investors are often unable to provide the same alignment of interests that we can.
Unlike a strategic buyer, we prioritize and protect the history, culture, employees, facilities, and seller’s legacy.
Unlike a traditional private equity buyer, we prefer to buy and hold and are not bound by a fund life cycle or specific investment horizon.
When exploring a potential sale, we encourage all closely-held business owners to consider our priorities in comparison to other buyer constraints: