St. LouisCompass closes $408 million fund
St. Louis-based Compass Group Equity Partners closed its third fund at $408 million in 2024 and added platforms in 2025; Thompson Street Capital Partners is the other local sponsor.
CT Acquisitions, 2024
Sell a business in Missouri
The road from today to the years after a sale runs through Missouri's rules. Here it is in the order you will meet them: where you stand, what the state takes, the rules of the sale, who buys, and what the money can do after.
ComplexityLowTax on the gainNone 2025Deal volumeMedium
Missouri is a mid-sized market, where the right buyers usually have to be found rather than met. The state takes none of the gain. Expect a tax-clearance or bulk-sale notice before closing.
Tax on the gain: A capital gain is fully subtracted from 2025; other income is taxed up to 4.7%.
Today
Where you stand
From tax year 2025 Missouri exempts every dollar of an individual's capital gain from state income tax, the first income-taxing state to do so.
Small businesses employed about 1.1 million Missourians in 2021, some 45 percent of the workforce, split between the St. Louis and Kansas City metros and the rest of the state.
Small business employees
0.0M
workers employed by Missouri small businesses in 2021, 44.9 percent of total employment.
SBA Office of Advocacy, 2021
The elements this touches
- TmTime The years before you want out. It feeds the exit-readiness score and never moves the price; every other decision is planned against it.
ListenThe Missouri briefing, read aloud
The deal team on what changes when you sell a business in Missouri.
Before the letter of intent
What Missouri takes
The tax on the gain, and what to settle before a buyer names a price
A 100 percent subtraction for capital gains from 2025 wipes out the state tax on a sale gain; the top rate on other income is 4.7 percent; no estate tax.
State tax on the gain
0%
A capital gain is fully subtracted from 2025; other income is taxed up to 4.7%.
Missouri Revisor of Statutes, 2025
A founder on film
On what he learned about tax on the way to the sale.
Lewis Titus Wastewater purification and manufacturing · Wyoming
Capital gains fully subtracted
RSMo 143.121.3(14) subtracts 100 percent of income reported as a federal capital gain by an individual for tax years beginning on or after 1 January 2025.
Top rate 4.7 percent
The top rate on ordinary income is 4.7 percent above $9,191 of taxable income in 2025, with ten brackets below it.
No estate or inheritance tax
Missouri has no estate tax and no inheritance tax in 2025.
The rate is the state's top rate on the gain for the year shown, the same figure as the indicator in the hero, so the two can never disagree.
The elements this touches
- TxTax Strategy The deal and entity structure, set before the letter of intent. FNDRS tracks whether it is in place. It never moves the price; it changes what you keep.
- ApAfter-Tax Proceeds What you keep at close. FNDRS records the pre-tax walk-away and the gap to your number. It never moves the price, and the tax on it is a question for your CPA.
Under contract and at closing
The rules of the sale
The rules a sale in Missouri runs under
The seller must hand the buyer a Department of Revenue no-tax-due certificate before closing and the buyer must withhold for unpaid taxes; employee non-solicits are enforceable by statute; no broker licence found.
01No-tax-due certificate before closing
RSMo 144.150 makes the seller obtain a no-tax-due certificate before closing (25 percent penalty if not) and the buyer withhold purchase money for unpaid taxes; the certificate holds 120 days.
Missouri Revisor of Statutes, 2025
02No-solicit covenants enforceable
RSMo 431.202 makes written covenants not to solicit or hire employees enforceable, including between companies during acquisition talks; non-competes rest on reasonableness case law.
Missouri Revisor of Statutes, 2025
03No broker licence found
Missouri does not appear on industry lists of states that license business brokers; a real estate licence matters only when property is part of the deal.
Business Brokerage Press, 2025
The elements this touches
- LcLegal & Compliance Contracts, licences, and filings in order and enforceable. The FNDRS valuation reads it, and the score moves the multiple.
- DrData Room The documents a buyer will ask for, ready before they ask. FNDRS tracks it in the deal-readiness report card; it decides how fast and how cleanly a deal closes.
One thing you would not guess
A founder who sells in 2025 owes Missouri nothing on the gain, and the same exemption reaches corporations once the top rate falls to 4.5 percent.
The corporate capital gains exemption switches on the year after the individual top rate reaches 4.5 percent or lower; individuals got theirs from 2025.
When the process opens
Who buys
Who shows up for a business in Missouri
St. Louis is home to lower-middle-market sponsors that buy Missouri industrial and health care service companies, and Kansas City logistics and physician practices draw the same money.
StatewideHealth systems drive deals
Health systems in both metros drive acquisitions of physician practices, home health, and health tech, while Kansas City's location feeds logistics and distribution deals.
CT Acquisitions, 2025
The elements this touches
- SyStrategic Synergy What one buyer gains that another cannot. The buyer at the table prices it, which is why the sell-side process goes looking for them.
A sale in Missouri
A roofing company in Missouri
Members of the FNDRS M&A team advised on this sale. The business, the story it went to market with, and what buyers paid for it.
- The situation
- Exceptional standard operating procedures and operational discipline, a healthy mix of retail and insurance work, and margins that had held. It was ready for market.
- The approach
- Positioned on durable margins, process maturity, and a stable revenue mix, in a highly competitive, tightly managed process.
- The outcome
- Eight letters of intent, five groups through to management meetings, and a final price of 7.2x EBITDA. The founder chose a long-standing private equity platform in roofing, for its culture and its long-term vision.
Day 0, and the years after
After the close
What Missouri lets the proceeds do
Missouri trusts can last forever and a settlor's own irrevocable spendthrift trust shields assets from later creditors, so sale proceeds can stay in state under strong trust law.
CloseDay 0
Proceeds land. What the state keeps of them is settled above; what it lets them do from here is below.
RSMo 456.025No end
RSMo 456.025 switches off the rule against perpetuities for any trust whose trustee holds a power to sell the property, so a Missouri dynasty trust has no end date.
Spendthrift clause blocks own creditors
RSMo 456.5-505 lets a spendthrift clause in an irrevocable trust block the settlor's own creditors, except for fraudulent transfers or where the settlor was the sole beneficiary.
WealthWhere FNDRS comes in
The post-exit wealth plan is the third act of the same engagement, and it starts in diligence, before the letter of intent, when a move or a trust can still change the answer.
FNDRSThe elements this touches
- EsEstate Architecture Trusts and ownership set up before the letter of intent. It changes what the family keeps, not what a buyer pays.
- ApAfter-Tax Proceeds What you keep at close. FNDRS records the pre-tax walk-away and the gap to your number. It never moves the price, and the tax on it is a question for your CPA.
People who walked it
Founders
Founders who worked with FNDRS, in their own words
From founders elsewhere
What founders say about working with FNDRS
No founder in Missouri is quoted yet. These are founders in other states, quoted word for word, each described by role and state.
1 of 3
“I definitely don't think we'd be in the same spot without you guys.”
No founder in Missouri is on film yet. These are founders in other states who worked with FNDRS.47 founders on film
Nearby
Other states in the Midwest
| Midwest | Tax on the gain | Complexity | Deal volume |
|---|---|---|---|
| Illinois | 4.95% 2025 | High | Very high |
| Indiana | 3% 2025 | Low | Medium |
| Iowa | 3.8% 2025 | Medium | Low |
| Kansas | 5.58% 2025 | Medium | Low |
| Michigan | 4.25% 2025 | Medium | High |
| Minnesota | 9.85% 2025 | High | Medium |
| Nebraska | 5.2% 2025 | High | Low |
| North Dakota | 2.5% 2025 | Low | Very low |
| Ohio | 3% 2025 | Medium | High |
| South Dakota | None 2025 | Low | Very low |
| Wisconsin | 7.65% 2025 | Medium | Medium |
Your next step
The road starts with one step
Know where you stand in fifteen minutes, or talk the Missouri sale through with a dealmaker. Either way, no pitch and no obligation.
Selling in Missouri? Start with a conversation
No pitch and no obligation. If the honest answer is not yet, we will say so, and say what to work on.