NeoNox partners with owners to unlock performance, strengthen teams, and preserve what matters most, which is their legacy.
Case Study
Home Care Branch
Tier: T3 → T4 (Control-Leaning → Majority Buy-In)
Healthcare Services
Texas, USA
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Starting Point:
Aging systems, fragmented scheduling, and limited financial controls.
Founder sought liquidity and support for professionalization.
Plan (First 100 Days):
Pricing uplift across service lines
Scheduling & Workforce optimization
Recruiting Ramp + Vendor Renegotiation
New FP&A tools and weekly KPI cadence
$1.3 M
Revenue
7%
EBITDA
Results (24+ Months):
33 %
Costs ↓
33 %
Costs
$8 M
Revenue ↑ 6.2X
21%
EBITDA
Outcome
Partial liquidity + retained advisory role; earned full earn-out in Year 2.
Healthcare Services Group
Tier: T4 (Majority Buy-In)
Healthcare Services
Texas, USA
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Starting Point:
Acquired a distressed therapy business sold primarily for its licensure.
The company had no operating systems, active contracts, or staff continuity.
Plan (First 100 Days):
Integrated into NeoNox’s healthcare network.
Installed centralized billing, HR, and compliance via the Back Office.
Relaunched brand and rebuilt referral pipeline.
≈$0.0M
Revenue
≈0%
EBITDA
Results (24+ Months):
12.1 X
MOIC
≈$1.82M
Implied Value (8.3X EBITDA)
$1.82 M
Revenue ↑
12%
EBITDA
Outcome
NeoNox transformed a failing entity into a thriving healthcare provider through network integration and operational discipline. The company now operates sustainably with consistent margins and future bolt-on potential.
Regional Healthcare Franchise
Tier: T3 (Control-Leaning)
Healthcare Services
Texas, USA
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Starting Point:
New franchise build-out under NeoNox ownership.
Required owner/operator installation, staffing, and market establishment.
Plan (First 100 Days):
Established leadership team and installed core Back Office systems.
Launched local marketing and referral programs.
Implemented financial reporting cadence and compliance protocols.
$0.0M
Revenue (Greenfield Startup)
N/A
EBITDA (pre-revenue)
$235K
Total Invested Capital
Results (24+ Months):
31.5 X
MOIC
$4.44 M
Implied Value (8.3X EBITDA)
$6.2 M
Revenue ↑
18%
EBITDA
Outcome:
Within 24 months, NeoNox scaled the franchise into a regional healthcare leader with stabilized operations, positive EBITDA, and a strong recurring revenue base.
Ranch & Wildlife Reserve
Tier: T5 (Full/Near-Full Buyout)
Agriculture / Hospitality / Recreational Land
Texas, USA
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Starting Point:
Acquired in 2019 as underutilized land with poor wildlife genetics.
No revenue infrastructure.
Plan (First 100 Days):
Launched herd genetics improvement program.
Developed luxury lodging and event-ready compound.
Structured hunting and short-term rental business lines.
$0.0M
Revenue
N/A
EBITDA (pre-revenue)
$5.6M
Total Invested Capital
($1.6 M purchase + $4.0 M in construction, herd, and infrastructure investments)
Results (24+ Months):
1.05 X
MOIC
$5.9 M
Implied Value (Land + Operations)
$480 K
Revenue ↑
(200K rental + 280K hunting)
52%
EBITDA
Outcome:
NeoNox transformed a dormant property into a high-value holdings asset with diversified income streams and appreciating land value—positioning it for long-term passive cash flow and exit optionality.
Precision Industrial Fabrication Company
Tier: T3 (Control-Leaning)
Light Industrial Manufacturing
Texas, USA
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Starting Point:
Regional fabrication shop with strong clients but aging systems and limited automation.
Founder’s exit left no succession plan or quality consistency.
Plan (First 100 Days):
Replaced legacy accounting system with ERP and real-time job costing.
Introduced preventive maintenance program and lean workflow redesign.
Brought in a new General Manager through NeoNox’s operator network.
$3.2M
Revenue
$224K
EBITDA (7 %)
$1.5M
Total Invested Capital
(Purchase price + $300 K in automation upgrades + $100 K in working capital)
Results (24+ Months):
1.53 X
MOIC
$2.3 M
Implied Value (3.5X EBITDA)
$4.4 M
Revenue ↑
15%
EBITDA
Outcome:
Streamlined production and automation increased output by 25% with no additional headcount. The company now operates at industry-leading margins and serves as a bolt-on platform for regional consolidation.
Established but plateaued outsourcing firm offering bookkeeping, HR, and payroll support to small businesses.
The founder sought partial liquidity while maintaining operational control and leadership.
Plan (First 100 Days):
Integrated NeoNox Back Office for IT, analytics, and compliance.
Implemented CRM to track retention and cross-sell performance.
Shifted pricing from hourly billing to a value-based retainer model.
$2.8M
Revenue
$280K
EBITDA (10 %)
$1.5M
Total Invested Capital
(Purchase price + $300 K in automation upgrades + $100 K in working capital)
Results (24+ Months):
2.3 X
MOIC
$2.3 M
Implied Value (3.5X EBITDA)
$3.6 M
Revenue ↑
18%
EBITDA
Outcome:
Profitability nearly doubled through automation and a value-based pricing model. The founder retained control while NeoNox gained strategic upside and optionality for future majority conversion.
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