Why does Regalis Capital not give client references?

Reviewed by the Regalis Capital acquisitions team. Last updated August 2026.

Because of a standing client privacy policy: Regalis Capital does not hand out client names, phone numbers, or reference contacts, and no private reference calls are arranged. That is the honest answer, and it has a cost, since you cannot call a stranger and ask how their deal went. Here is why the policy exists and what the firm provides in its place.

Why the policy exists

Regalis Capital clients are private individuals buying privately held companies, and many are still employed while they search. A reference call would reveal that a specific person is buying, or has bought, a specific business. For a client who has not told an employer, a landlord, or a competitor, that is not a small thing.

The confidentiality is not only the client's. Deal information also belongs to the seller, usually under a signed confidentiality agreement, and to the lender that underwrote the loan. A buyer cannot waive the seller's confidentiality, and a firm should not ask them to. Roughly $5 trillion in small business value is expected to change hands over the next decade as owners retire, according to a McKinsey estimate reported by Fortune in February 2026, and almost all of those transactions happen in private.

The worry underneath a reference request is usually simple: a buyer wants to know what the process actually looks like before committing to it. That is a fair thing to want. The answer is to show the process and the paperwork, not to hand over someone else's phone number.

What Regalis Capital provides instead

On camera client testimonials. Real clients recorded video testimonials at regaliscapital.com/reviews. They appear on camera and stay anonymous by name, which is the policy working as designed. Individual results vary, and the generally expected path for a new client is a search that runs for months, written offers a seller can accept or reject, financing that a third party lender has to approve, and a closing whose timing depends on the seller, the lender, and the deal.

The written agreement, read with you line by line. Before you pay anything, a team member will share a screen and read every section of the agreement with you: the fees, the term, cancellation, what the firm is responsible for, and what you are responsible for. It is the same standard agreement for every client, so what you read is what you sign.

Free tools you can test yourself. The Deal Value Calculator at dealvaluecalc.regaliscapital.com shows what size business a buyer can afford on SBA standards. The resource center at learn.regaliscapital.com publishes guides, state and industry pages, and an acquisition glossary. None of it requires a call, a credit card, or a signature.

How to evaluate any firm without references

References are one signal, and the firm giving them chooses which clients you speak to. These are harder to influence.

1. Read the agreement in full before you pay. A firm's paperwork tells you what it will actually do and what it will not.
2. Ask for the fee structure in writing and check that every number on the call appears in the contract.
3. Ask how deals are sourced and how many are screened, and ask what the screen tests for.
4. Ask what the firm is not responsible for. A clear answer is a good sign.
5. Ask what happens if a lender will not pre-approve you, and get that answer in writing before you sign.
6. Test the free material. If a firm publishes tools and guides you can check against your own market, you can judge the quality of its thinking before you are a client.

The full version of that list, with what a good answer sounds like for each question, is on the buyer's guide linked below.