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“As anyone in this industry knows, forecasts and valuations are essential—but they’re still only predictions. We can analyze a business a thousand times over, but seeing those predictions prove themselves right, year after year, is something entirely different. Looking back and seeing how our expectations have come to fruition is beyond incredible to me. I often say, ‘I’ve never seen a business plan that I didn’t like, nor a mirror that I liked.’ I’m glad this business plan worked out! But, I’m still working on the mirror part.”
— Brad Nathan, Founder & President, Lynx Equity Limited
As Lynx Equity Limited ("Lynx”) marks its 18th anniversary, we reflect on the difference between planning for long-term performance and actually achieving it. Over nearly two decades, Lynx’s disciplined approach—acquiring established businesses, supporting experienced operators, and prioritizing sustainability over short-term gains—has delivered consistent, measurable growth at a compound annual growth rate of 27%.
Founded in 2007, Lynx’s growth is captured above from 2009 through 2026—with consolidated revenue increasing from $17 million to figures now tracking toward $1 billion for 2026, and EBITDA rising from $1 million to an expected $64 million in 2026. This consistent trajectory speaks to the strength of our model, the discipline of our M&A team, and the skill of the leaders and employees across our portfolio.
Resilience During Economic Uncertainty
Periods of uncertainty often reveal whether a business model is truly durable. During COVID-19, our companies demonstrated remarkable resilience. Not only did our portfolio adapt and recover, but by 2022 it had returned to its typical growth trajectory. Our distribution and retail businesses, in particular, experienced very strong financial performance during those years. Throughout this period, all investors continued to receive payments on their investments as scheduled. This stability was rooted in owning well-established businesses with dependable cash flows and strong leadership.
Growth Rooted in Real Operations
Our philosophy centres on internal, sustainable growth—not rapid or forced expansion. Across the portfolio, we remain focused on:
- Supporting companies in realistic, targeted ways,
- Preserving the autonomy that allows operators to excel, and
- Investing in improvements that strengthen, rather than strain, existing capabilities.
This blend of guidance and independence creates room for long-term success, enabling businesses to thrive on the foundations that made them strong in the first place. For our subsidiaries, this means receiving support where it adds value and retaining autonomy to continue leading in the areas they know best.
What 18 Years Have Proven
Our historical returns make it clear that patience, strategic growth, and investing in great people will pay off in the long run. As we move into our 19th year, our commitment remains unchanged: support high-quality businesses, act with patience and discipline, and deliver stable, reliable value for our investors. Forecasts may set expectations, but results tell the real story—and after 18 years, the results speak for themselves.
Disclosures
Forward-Looking Statements: Certain statements in this communication may constitute forward-looking information regarding future growth and projected revenue. Actual results may differ materially due to various risks and uncertainties. Such information is based on current expectations, estimates, and assumptions that are subject to known and unknown risks and uncertainties, which may cause actual results to differ materially. Readers are cautioned not to place undue reliance on these statements. Lynx Equity Limited undertakes no obligation to update these statements.
Past returns do not guarantee future results.
Nothing in this article constitutes an offer to any person or to the public generally to purchase securities of any kind or an offer to invest in Lynx Equity Limited.
