Owners of well-run private companies get contacted by buyers more often than most people realize. The message might come from a private equity firm, a family office, a larger company in your industry, or an advisor writing on a buyer’s behalf. Often it arrives when the business is not for sale and the owner has no plans to sell it.

This post explains why your company came up, how long a sale actually takes, and why an early, no-pressure conversation is worth having.

Why is an advisor or buyer reaching out when my company isn’t for sale?

Most acquisitions of founder-owned businesses do not begin with a listing. Buyers with a clear plan, such as a private equity firm building a regional HVAC or plumbing platform, already know the kind of company they want: the service mix, the geography, the size, and the reputation. They search for businesses that match and contact the owners directly, either themselves or through an advisor.

Being contacted usually means your company came up for a reason. Something about it fits what a specific buyer is looking for. It does not mean anyone knows something about your plans that you have not shared, and it does not obligate you to do anything.

What is a buy-side advisor?

A buy-side advisor works with buyers. Private equity firms, family offices, and operating companies rely on these advisors to find businesses that fit their plans, make the first introduction, and help move a deal forward if both sides are interested. Early on, the buyer’s name is often kept confidential. What a good advisor can tell you is why your company fits and what kind of buyer is interested.

That is different from a sell-side advisor or business broker, who is hired by an owner to market a company to many buyers.

How long does it take to sell a company?

Longer than most owners expect. According to the IBBA and M&A Source Market Pulse Survey for Q2 2026, lower middle market deals (businesses valued at roughly $2 million to $50 million) averaged 11 to 12 months from engagement to close, and timelines lengthened compared with prior quarters. Smaller Main Street deals averaged six to 10 months.

Much of that time is spent after the parties agree on the basic terms. Earlier Market Pulse research found that roughly 60 to 120 days are spent in due diligence and execution after a letter of intent is signed, and that deal teams spend more time verifying seller data as buyers pay more for lower middle market companies.

A typical path looks like this:

1. Getting to know each other. Introductory conversations, a confidentiality agreement, and a first look at the business.

2. Letter of intent. The buyer proposes the main terms, and you decide with your advisors whether to move forward.

3. Diligence. The buyer verifies the financials, contracts, operations, and legal details. This is often the longest stage.

4. Closing. Final agreements, financing, and the transition plan.

And not every process reaches the finish line. In Axial’s 2026 outlook survey, 58.6% of advisors reported that more than half of their 2025 deals closed, which means many still did not.

Why does an exploratory conversation matter?

The months above are measured from the point a sale process formally begins. They do not count the time an owner spends deciding whether selling makes sense at all. That is why an early conversation is so valuable. It costs nothing, commits you to nothing, and lets you learn how buyers see your business long before you need to make a decision. Owners who start early can make choices on their own timeline. Owners who start late often feel rushed.

Should I take a meeting with a buyer that wants to buy my business?

A first conversation can tell you a lot. Many owners take the call simply to learn how buyers in their industry see their business, even if they have no intention of selling for years. A few things make that conversation more useful:

Ask what kind of buyer it is. Even if the name is confidential at first, you can learn whether it is a private equity firm, a family office, or an operating company, and what it already owns.

Ask why your company came up. A serious buyer or advisor can explain the fit in specific terms.

Share general information only. Do not send financial statements or customer details until there is a signed confidentiality agreement and you want to go further.

Ask what happens to your people. How a buyer plans to treat your employees and your role after a deal tells you a lot about whether it is the right fit.

Do I need my own advisor if a buyer approaches me directly?

An advisor who contacts you on a buyer’s behalf works with the buyer, so rely on your own trusted advisors for your side of any deal. At minimum that usually means an M&A attorney and your CPA. Some owners also engage their own transaction advisor. That decision depends on your situation and is worth discussing with the professionals you already trust.

What if I’m not interested?

Say so. A good buyer or advisor will respect the answer and may ask whether they can check back in later. Timing matters in these decisions, and an introduction that is not right today may be useful in a few years.

How Triwell Partners fits in

Triwell Partners is a buy-side advisor. We work with a network of private equity firms, family offices, and founder-led companies, and we match owners with the buyers that fit their business best. Not a mass list, but the right conversation. If your company came up, there is a reason, and a first conversation with us is simply a chance to learn more, with no obligation to go further.