I just got off the phone with a day job client, a manufacturing business with well over $1bn revenue. They are looking to grow their aftermarket and service business, where the market is highly fragmented (i.e. 1,000+ mom & pop providers around the US). They don't have the internal resources to execute numerous transactions per year and my thinking is to approach them, ask for some capital (most or all of capital coming from the company), run a buy & build for a couple of years, make operations line up with their internal systems as much as possible, and sell the business after a few years. Does anyone have experience with this or a similar approach? Would be curious to hear how others have handled the approach and what key negotiation points were. Thanks in advance.