I've come across several Service-Disabled Veteran-Owned Businesses (SDVOBs) that have significant contracts with the military or government services, some generating upwards of $30 million in revenue.

I served a few years in uniform and spent some time on the civilian side of the government, so while I'm not an expert, I'm familiar with the landscape and some of the key acronyms.

One of the companies I'm looking at is a SDVOB with deep military contracts. The owner is considering taking some equity off the table. I've been in contact with several private equity (PE) firms. Still, many are hesitant because they fear the business might lose some contracts if the owner no longer maintains the 51% ownership required for SDVOB status. However, in this case, The owner has said only 5% of the contracts are awarded specifically because of the SDVOB status. I know the market space, the product, and the customer base well, which makes me confident in this assessment.

I'm a veteran-owned business, but not an SDVOB, which is at a higher level than veteran-owned. Does anyone know of any PE firms that are well-versed in the specifics of SDVOBs and the challenges related to PE ownership?