Deal Flow by Breakwater: Edition No. 1

Written By Morgan Tate


Deal Flow by Breakwater M&A: Edition No. 1

This is an archived release - check here for active deals. To gain access to full details subscribe to Deal Flow.

Introduction: What You’ll Find in This Edition

Welcome to the first-ever edition of Deal Flow by Breakwater M&A — a monthly breakdown of notable founder-led businesses coming to market across North America.

Our goal with Deal Flow is simple:
give serious buyers clean, straight-shooting intel on new acquisition opportunities, plus resources to sharpen your strategy.

While the deals below are now archived, this edition provides a clear picture of the types of opportunities we bring to the table each month.

If you want to access current, live deals and receive detailed packets the moment they publish, be sure to subscribe.

SUBSCRIBE TO DEAL FLOW

Deals Featured in This Edition

This week we shared the following deals:

  • Healthcare & Wellness: A profitable medical aesthetics and primary care clinic.

  • SaaS: Two software businesses — one AI-driven, one marketplace platform.

  • Consumer Products: A DTC brand with seven-figure social reach.

  • Industrial & Legacy: A 75-year commercial bakery with national distribution.

  • Service & Cash Flow: A 57-location ATM route with recurring revenue.

Missed the email? You can find a list of all our active deals here or subscribe to Deal Flow for future opportunities.

M&A Education for Buyers

Deep dives, frameworks, and operator-level insights to help you become a sharper, more confident acquirer.

How to Value a Competitor Before Buying Them

Acquiring a competitor can compress years of growth into a single transaction — but only if you understand the risks baked into their financials, customer concentration, and operating model.

This guide explains:

  • the strategic advantages of buying a competitor

  • common valuation traps for first-time acquirers

  • how to model synergies without overestimating them

  • when a competitor acquisition unlocks growth vs. when it becomes a distraction

For many founders, this is the fastest path to scale — but it requires discipline and clarity

New Deal Partner! Meet Rob O'Brien

Rob O’Brien built, scaled, and exited his own company before joining Breakwater as a Deal Partner.
In this edition, Morgan sat down with Rob to discuss:

  • how founder-led businesses actually run

  • what makes a company “buyable” in the $2M–$20M range

  • what buyers consistently underestimate

  • how to evaluate owner-operator transitions

Rob’s operator-first lens offers valuable guidance to founders and buyers navigating their first acquisition.

Morgan Tate