ICOSIAN CAPITAL

Seeking an exceptional business to steward and grow

Our Proposition

Icosian Capital was founded by two burgeoning entrepreneurs, Dillon Friedman and Tommy Shelton, and backed by a team of seasoned operators and investors. Our goal is to acquire and operate a single $6 - $50 million business.

We view small business ownership as our highest calling. As proud sons and fathers, we understand and can relate to the importance of one's legacy.

We view this endeavor not only as a conduit to create value for community, our investors, and our ourselves, but also an opportunity for the right seller to realize the benefits of his or her life's work.

Our Values

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FRIENDLINESS

 

We believe that one of the greatest compliments one person can give another is to think of them as a friend.

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DISCIPLINE

 

We believe in filling the unforgiving minute with sixty seconds worth of distance run and in being ruthless about our priorities.

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INTEGRITY

 

We believe in holding ourselves and our partners to the highest standard and refuse to be compromised. We tell the truth.

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FAIRNESS

 

We believe that treating the people around us the way we want to be treated is the cornerstone of a quality relationships.

Our Founders

DILLON FRIEDMAN

DILLON FRIEDMAN
Managing Partner

Dillon refers to himself as a reformed management consultant.

Most recently, he worked for Sonder, a $1.3B startup in the short-term rental and hotel space, where he scaled city operations in Austin, Texas from 8 to 300 doors before taking over workforce planning for the company’s 30+ markets.

Prior to Sonder, Dillon was an engagement manager for Deloitte Consulting’s M&A practice specializing in value capture and sales operations as well as a consultant with Booz Allen Hamilton.

He received his MBA from the University of Texas at Austin’s McCombs School of Business and a Bachelor’s from the University of San Diego in International Relations.

Originally from Fort Worth, Texas, Dillon spends his free time bouldering, coordinating with his wife on how best to corral their kids, and reading anything he can about business leaders and ancient mythology.

TOMMY SHELTON

TOMMY SHELTON
Managing Partner

Tommy grew up in Royse City, TX near the family cattle ranch.

Over a career with operationally driven institutions, Tommy gained managerial and execution experience specializing in project coordination and finance.

He spent over five years in FP&A and Treasury for American Airlines, where he was responsible for company financial transactions, long-term forecast modeling, and labor contract structuring.

Before joining AA, Tommy led a team of design engineers for the defense contractor L3 Communications (now L3 Technologies), coordinating cross-functional programs across the value chain.

He holds an MBA from the University of Texas and a Bachelor’s in Physics from Austin College, where he played football for the Kangaroos.

Tommy and his wife Jamie are newly married, love taking care of their pups Arya and Doc Holliday, and are excited about their growing family.

Our Partners

Our Criteria

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BUSINESS

  • Owner or manager looking to transition out of their current role

  • Respected middle management

  • A strong culture and long employee tenure

  • Robust client and supplier relationships

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FINANCIAL

  • Track record of profitability

  • Roughly $6M to $50M in revenues

  • Recurring revenue streams

  • Low customer concentration

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INDUSTRY

  • Healthy growth trajectory

  • Highly fragmented

  • High capital efficiency

  • Low threat of technological or regulatory obsolescence