Business advisory · Limited engagements

We build and scale businesses to increase enterprise value.

We find the hidden
value
deep below
the surface.

Run by operators, not observers. We install the discipline, systems, and judgment that make value compound.

0000 M · SURFACE
Scroll to descend
0100 M · OPEN WATER

Growth raises better questions.

The surface answers are easy. The ones that move enterprise value live further down. Three worth sitting with:

READING · GROWTH
Which half of your growth compounds?

Revenue up 22% can mean working harder for a thinner margin. Value comes from the half that holds.

READING · INDEPENDENCE
What runs when you go quiet?

A month away is the most honest audit a business can take. Most fail it in the first week.

READING · VALUE
Where is the value you have not surfaced?

Every company holds more than its numbers show. Most owners have never taken that reading.

0200 M · THE WORK

Six disciplines. One living system.

A weakness in one discipline never stays where it starts, so neither do we. Select a line to read where it travels.

If your top two people left tomorrow, how much of how this business runs would walk out with them?

Most mid-market operations run on tribal knowledge and the founder’s memory. That is efficient, right up until it is the ceiling. As volume climbs, mistakes start happening that never used to, decisions wait on one person, and quality slips in ways customers eventually feel.

OPEN THE DISCIPLINE →
Where the weakness travels
AI & Automation

You cannot automate a process you have not documented. Weak systems cap what technology can ever do.

Turnaround Execution

A downturn has nothing to grab onto when systems are informal. Recovery needs a foundation to stand on.

Your systems are either an asset on the balance sheet or a risk hiding in someone’s head.

You bought the tools. Honestly: is the team using them, or are you paying rent on shelfware?

Automation laid over a broken process does not fix the process. It runs the broken version faster and makes it harder to see. The companies getting real leverage documented, simplified, and eliminated first, then automated what was left.

OPEN THE DISCIPLINE →
Where the weakness travels
Systems & Processes

You cannot automate a process you have not documented. Weak systems cap what technology can ever do.

AI does not hand you an advantage. It widens the one you already built, or the gap you already have.

Why does a customer choose you over the cheaper option? If the honest answer is price, that is the finding.

Brand is not how you look. It is the reason a specific customer chooses you and pays more to do it. When your brand voice, pricing strategy, and value perception are not clear and not owned, you compete on price and the margin tells the story. Positioning is an economic decision before it is a creative one.

OPEN THE DISCIPLINE →
Where the weakness travels
Transaction Advisory

Positioning is a large part of what commands a premium in a transaction. Commodities trade at commodity multiples.

If you can be compared on price, you have not been positioned.

Strip away the title, the company, the achievements. Who is deciding, and from what state?

The business is a mirror of the person running it. Reactivity at the top becomes reactivity everywhere. Most operational problems trace to a leadership pattern that has gone unexamined because the calendar never allowed it.

OPEN THE DISCIPLINE →
Where the weakness travels
Turnaround Execution

A turnaround is a leadership problem before it is a financial one. The team follows the person, not the plan.

Systems & Processes

Discipline in the leader becomes discipline in the operation. It cannot be installed from the outside alone.

You cannot lead a company past the point you have led yourself.

If an offer landed on your desk Monday, would you actually know whether it was a good one?

Value is built years before the close and defended in the room. 323 Ocean represents companies on both sides of the table. Sell side is the focus: preparing the business so the years of work show up in the price, then protecting that number through diligence to close. Buy side is where inorganic growth gets real: sourcing discipline, honest diligence, and integration that creates value instead of destroying it.

OPEN THE DISCIPLINE →
Where the weakness travels
Systems & Processes

Sell side: what is not documented does not survive due diligence. It gets discounted, or it kills the deal. Buy side: proper tuck-in integration with robust systems and processes is the difference between creating value and destroying value.

Branding & Go-To-Market

Sell side: a defensible position is part of what a buyer underwrites. Buy side: the acquired brand either strengthens the platform story or muddies it.

You sell once. The other side of the table does this for a living.

How many weeks of cash do you have right now? If you had to stop and think, that is the first finding.

Distress does not reward deliberation. The work is not a deck of recommendations. It is 13-week cash flow discipline, hard calls made fast, and someone willing to take direct accountability.

OPEN THE DISCIPLINE →
Where the weakness travels
Systems & Processes

A downturn has nothing to grab onto when systems are informal. Recovery needs a foundation to stand on.

Leadership Guidance

A turnaround is a leadership problem before it is a financial one. The team follows the person, not the plan.

In a crisis, the most expensive thing you can do is wait until you are certain.

0600 M · WHO DESCENDS

Four kinds of leaders make this descent.

If one of these is you, keep going.

Growing Companies

Revenue is up but something feels wrong. You are working harder than ever with less to show for it. The systems that got you here are breaking under the load. You need someone who has navigated these stages and knows what works, not another consultant with frameworks and no experience.

Owners Approaching a Transaction

An offer has arrived, an acquisition is in view, or you want to know what the business is worth before anyone asks. You need judgment from both sides of the table: 11 acquisitions and 5 exits taught us how deals succeed and where they fall apart.

PE Sponsors

A portfolio company is underperforming, burning cash, or facing operational crisis, and time is the enemy. We provide the execution capability to stabilize the situation and protect the investment, senior experience on site, not junior consultants learning on your dime.

Leaders Seeking Transformation

You have achieved success by external measures and sense something is missing. The way you have been operating is not sustainable. You are ready for work that goes beyond business tactics to who you are as a leader. The 4CAP methodology meets you where you are.

1000 M · THE OPERATORS

You work with people who have done it.

Principal led, no handoffs. The judgment on your engagement was earned in the operator’s chair.

11
ACQUISITIONS LED
5
SELL-SIDE EXITS
31
ADVISORY ENGAGEMENTS
16
RECOGNITIONS AND AWARDS
Michael Crafton

Michael Crafton

FOUNDER & PRINCIPAL

Turned $800 of his own startup capital into Nelbud Services Group: 20+ offices, 40,000 customer locations, and a national footprint built over 17 years. His career includes 11 acquisitions and 5 exits, on both sides of the table. Through 2008 he automated while competitors retreated. Through the pandemic he rebuilt from a 70% revenue loss to record earnings in nine months. 323 Ocean is where that record goes to work.

Ann Marie Moorman

Ann Marie Moorman

CHIEF OF STAFF

Runs the engagement floor, turning practitioner judgment into execution, every workstream, deadline and deliverable, so a diagnosis becomes a result and nothing slips in between. A limited number of engagements means each one gets her full attention, from the first conversation until the work holds.

1800 M · THE SIGNAL

Most of what you measure is noise.

Revenue is loud. Growth is loud. The work is finding the readings that carry the business, and building around them.

Noise Reading the fieldResolved Signal

The profit and loss statement runs 40 lines. These five carry the business.

See what measuring these five changes
2600 M · THE GAP

How much of your value is trapped?

What the business is worth as it runs, against what it is worth fully built. The gap is value you have built and cannot yet collect. Set the dials to your company.

37%
of your enterprise value trapped · heaviest drag: Owner dependency
As it runs
$2.8M
Fully built
$5.8M
The gap
$2.1M
Multiple
2.9x to 6.0x
Does it run without you?
Trajectory
Industry
Illustrative, not a valuation · directional multiples for the lower middle market
3200 M · SURFACED

It has been done in deeper water.

Three situations that looked unrecoverable from the surface, and what came back up.

National fire and life safety company

From 70% attrition to record earnings

The pandemic took 70% of the customer base virtually overnight. Conventional wisdom said sell for whatever the market would bear. We rebuilt the operating model from the foundation: restructured the cost base, renegotiated every contract, automated operations, and secured new national accounts. Record earnings within nine months, and a later exit at a multiple the old model could never have carried.

PE portfolio company, recurring services

Distress to stable operations in six months

A PE-backed recurring services business in cash flow crisis and operational dysfunction. We stabilized cash through 13-week discipline, restructured the leadership team, and installed the controls that restored EBITDA margins. The sponsor’s investment held, and the company moved from active distress to a footing worth building on.

Outsourced services business

Back to sustainable operations in eight months

Compounding operational and financial challenges threatened viability. We implemented immediate cash conservation, restructured vendor relationships, and rebuilt the delivery model, moving between advisory guidance and interim leadership as the situation required. Sustainable operations within eight months.

4000 M · THE GATE

Tell us what brought you down here.

We take a limited number of engagements. Start with the situation in your own words; the rest takes four minutes.

TERMS OF PASSAGE

Principal led

You work with a principal, not junior consultants learning on your time. Senior involvement from diagnosis through execution.

Execution, not just advice

We stay in through decisions, execution, and measurable outcomes. Advisory that produces reports but not results wastes your money.

No playbooks

Every engagement is designed around your situation, priorities, and constraints, never a standard playbook.

Mutual fit required

The first conversation determines fit for both sides. We would rather decline than take an engagement where we cannot create real value.

Request Consideration

We read every request personally. If there is a fit, you will hear from us directly.

What is my business actually worth today?