
A Search Fund
An entrepreneur-led holding company seeking to acquire and steward one exceptional founder-owned business for the long term.
Current Mandate
$1M–$2M
EBITDA
Single Acquisition
Long-Term Ownership
Operator-Led
Our Foundation
Breakwater Holdings was founded by Matt and Ashley Nieblas to acquire and operate one exceptional founder-owned business for the long term. We are not private equity investors building a portfolio—we are entrepreneurs committed to becoming the next generation of owners for a single company.
Together, we bring complementary strengths to business ownership. Ashley focuses on operations, organizational leadership, and execution, while Matt focuses on customer relationships, growth, and business development. We believe enduring businesses require both disciplined operations and thoughtful growth.
About
Ashley currently serves as Chief Operating Officer at Interface Education Services, where she partners with the founder to strengthen operations, build leadership teams, implement technology, and create the systems that support sustainable growth. Previously, she served as Chief of Staff at Collegewise. Throughout her career, Ashley has been drawn to helping founder-led organizations grow without losing the qualities that made them successful. Following an acquisition, she will lead the company's day-to-day operations, partnering closely with employees to build on the foundation established by its founder.
Matt has spent more than a decade in entertainment marketing, helping bring major film and television releases to audiences through print advertising campaigns for some of the world's most recognizable studios and brands. His work has required balancing creativity with execution while building trusted relationships with clients, partners, and production teams. Outside of his professional career, Matt has always been drawn to building—whether transforming homes through renovation projects, operating a successful short-term rental business, or investing with a long-term mindset. Those experiences have deepened his passion for business ownership and reinforced his belief that lasting success comes from creating exceptional experiences for customers. Following an acquisition, Matt plans to focus on customer relationships, sales, marketing, business development, and long-term growth initiatives, complementing Ashley's leadership of the company's day-to-day operations.
Together, we offer a stewardship model that protects the culture and quality founders spent decades building while providing the operational infrastructure necessary for their next chapter of growth. Our ethos is rooted in preserving legacies and building organizations that create lasting value for employees, customers, and communities.
1
Acquisition
Decades
Holding Period
100%
Operator-Led
Investment Criteria
Our Commitment

01
We are intentionally searching for one business to own and operate for decades. By focusing on a single company rather than a portfolio, we can devote our full attention, resources, and energy to helping it thrive.
02
Every successful business has something that can't be captured on a balance sheet. It's the trust you've earned from customers, the culture you've built with employees, and the reputation you've established over years of hard work. Those aren't things to replace—they're the foundation we'll build upon.
03
We believe every business can improve, but not every business needs reinventing. Our approach is to understand what already works, strengthen the systems that support it, and make thoughtful improvements that position the business for its next chapter.
04
We measure success over decades, not quarters. Rather than preparing businesses for resale, we intend to invest in people, strengthen operations, and create an organization that continues to grow long after the ownership transition is complete.