A national record of lower middle market ownership transitions, the verified independent sponsors that have bought companies like them, and the capital observed financing those deals. Facts, inferences and estimates are labelled as such, with the source and the date, on every row.

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Sponsor research record

B•• F•• I•••••••• L•• ••••••••

NCUnverified filing group, research onlyIndependent sponsor
Latest vehicle Oct 4, 2023
1 vehicles · 2 principals · 14 observations
Mandate updated Sep 13, 2026
Unverified filing group, research only. A group of SEC Form D vehicles joined by shared principals or a shared address. No evidence yet identifies the firm behind it, so it is never shown beside a company as a sponsor. It is listed only under research on the sponsor directory.
Why this kind
  • for: one single-deal acquisition vehicle
  • for: deal vehicles with no pooled fund and no ADV registration
before the classifier: Independent sponsor
What they claim, and what they have done
Observed
  • 0 platform or control deals
  • 0 add-ons bought by its portfolio companies
  • 0 recapitalizations, 0 minority stakes
Claimed on its own website

No buy criteria were read from its website.

What the filings and deals add up to
Sectors
Business services (1)
FactForm D industry group of 1 vehicle(s)· 50%· Federal regulator filings
Geography
NC (1) · Southeast
Factstate of organisation / filing address of vehicles· 50%· Federal regulator filings
Equity raised per vehicle
$2.3M to $2.3M (median $2.3M, n=1)
FactTOTALAMOUNTSOLD on each vehicle's Form D; a proxy for the equity check the sponsor raises per deal, not enterprise value· 50%· Federal regulator filings
Control preference
100% of 1 vehicles flagged business combinations
Inferenceshare of vehicles whose Form D flags a business combination· 80%· Federal regulator filings
Security types
Equity: 1
Factsecurity types sold on the vehicles' Form Ds· 50%· Federal regulator filings
Activity
1 vehicles, first 2023-10-04, latest 2023-10-04, 0 in the last 12 months
FactForm D filing dates· 95%· Federal regulator filings
Principal count
2
Factrelated persons across the vehicles· 90%· Federal regulator filings
How do we know

Not verified as a sponsor firm. A group of SEC Form D vehicles joined by shared principals or a shared address. No evidence yet identifies the firm behind it, so it is never shown beside a company as a sponsor.

1 acquisition or co-investment vehicle filed on SEC Form D were joined to this record by shared executive officers or promoters, or by a shared filing address. Every edge below carries the evidence that produced it.

Nothing on this page comes from a website claim unless it is labelled as such with the URL.

Who has financed them

No capital provider has been observed financing this sponsor in an announcement yet.

Who finances deals like theirs
No deal of this firm is on a company DFX could classify by sector, so there is nothing to compare it against.
What have they done
VehicleLinked byConf.
B•• F•• I•••••••• L••sole vehicle80%
What appears to be their current activity

No vehicle filed in the last 12 months; latest filing Oct 4, 2023, first observed 2023-10-04.

Principals on the filings
  • H•••••• L••••••Director
  • B•••••• P•••••• C•••••• L••Director
Identity links

Entities that may be this sponsor under another name, each with the confidence and the signals behind it. A link is not a merge: nothing on this page is borrowed from a linked entity.

Evidence
PredicateValueClassSource
Entity kindindependent_sponsor_firmInferenceDFX model output (scores, estimates, matches) no URL
Entity kindindependent_sponsor_firmInferenceDFX model output (scores, estimates, matches) no URL
Mandatebusiness services; raises $2.3M to $2.3M per vehicle (observed); 1 vehicle(s), latest 2023-10-04; 100% flagged business combinationsInferenceDFX model output (scores, estimates, matches) no URL
Mandatebusiness services; raises $2.3M to $2.3M per vehicle (observed); 1 vehicle(s), latest 2023-10-04; 100% flagged business combinationsInferenceDFX model output (scores, estimates, matches) no URL
Sponsor classificationindependent_sponsorInferenceDFX model output (scores, estimates, matches) no URL
Sponsor classificationindependent_sponsorInferenceDFX model output (scores, estimates, matches) no URL
Sponsor classificationindependent_sponsorInferenceDFX model output (scores, estimates, matches) no URL
Sponsor classificationindependent_sponsorInferenceDFX model output (scores, estimates, matches) no URL
Sponsor classificationindependent_sponsorInferenceDFX model output (scores, estimates, matches) no URL
Sponsor classificationindependent_sponsorInferenceDFX model output (scores, estimates, matches) no URL
Sponsor classificationindependent_sponsorInferenceDFX model output (scores, estimates, matches) no URL
Sponsor classificationindependent_sponsorInferenceDFX model output (scores, estimates, matches) no URL

2 further observations are on the record behind these, each with its own source and date. Ask and we will send the lot.

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