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Top Chicago Search Funds

Explore 130 Chicago Search Funds that source acquisition and investment opportunities on Axial’s M&A platform.

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Axial Insights

Chicago Search Funds

130

Active Firms

1,942

TTM Deal Inquiries

$3M-$14M

Core Revenue Range

$800K-$3M

Core EBITDA Range

Top Sectors by Activity

Industrials 44%
Healthcare 12%
Business Services 11%
Technology 8%
Consumer Goods 8%

Key Attributes

Focus: Acquiring One Business | Capital Source: Investor-Backed or Self-Funded | Operating Approach: Stewardship & Growth

Showing 101-120 of 130 Search Funds

Sorted by recent activity

White Dove Equity

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White Dove Equity is a search vehicle with the purpose of acquiring and operating a business for long-term, family ownership. We love to work with sellers who are retiring and interested in a family-to-family transaction with a desire to preserve their legacy through a buyer with an employee-first and customer-first approach. We are specifically focused on businesses in the manufacturing and services sectors, between $0.5-$2.0M in EBITDA, and located in Illinois or Wisconsin. We have over a decade of experience partnering with management teams to accomplish a wide variety goals through our…

Recent Transactions

This member has no reported closed transactions.

Ryder Ventures

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Founder of 3 different startups and exits. Personally led acquisition of Chapter 11 business as a going concern. Have extensive experience within batch manufacturing sector and looking for additions to current ongoing business.

Recent Transactions

This member has no reported closed transactions.

Punch Above Partners

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Punch Above Partners is a private equity firm dedicated to acquiring and managing lower middle-market businesses. The firm specializes in providing operational leadership and crafting growth strategies to enhance business performance. With a focus on consumer-oriented companies in sectors such as manufacturing, distribution, technology, and services, Punch Above Partners aims to drive growth and operational excellence. Their approach involves strategic partnerships and financial discipline to help businesses "punch above their weight," achieving greater success in their respective markets.

Recent Transactions

This member has no reported closed transactions.

Edgewood Creek Capital

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An entrepreneurial venture looking to acquire high growth industrials & manufacturing businesses in the Midwest. Searchfund looking for motivated college students to assist in due diligence and financial modeling!

Recent Transactions

This member has no reported closed transactions.

PowerFactor1

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Looking to purchase a $1-$4M cashflow generating business. Preferably Control / Automation System Integrator in Data Centers, Energy & Utilities, Smart Manufacturing (Industrial Automation) and Transportation. Ok with adjacent or verticals Prefer Mid-West US but open to South, South East and near-metro locations.

Recent Transactions

This member has no reported closed transactions.

Fremont Street Partners

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Fremont Street Partners is a private investment firm focused on middle market investment opportunities in the United States. We seek to identify, acquire, and operate an existing private company with EBITDA between $1.5 - $10.0 million. Fremont Street Partners was founded by two brothers, both Chicago Booth MBAs, and is based in Chicago, IL. The Managing Partners have extensive experience working in finance, investment banking, real estate, marketing and sales.

Recent Transactions

This member has no reported closed transactions.

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Dragani Enterprises

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I am looking for a cash flowing business to operate. I am industry agnostic. Driven, focused and aggressive, I am someone who will take your business to the next level. Not here for a quick hit, I will put permanent capital to work in your business.

Recent Transactions

This member has no reported closed transactions.

Legacy Quest Partners

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Legacy Quest Partners is a Chicago-based investment firm founded to acquire and grow one exceptional business for the long term. We offer fair and flexible succession opportunities for business owners ready to pursue their next adventure in life.

Recent Transactions

This member has no reported closed transactions.

Valecrest Capital

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Valecrest Capital is a values-driven investment firm founded with one purpose: to continue the work of exceptional founders & owners by acquiring and operating a single, high-quality B2B services business. Isaac Stoll serves as Principal of Valecrest and will be responsible for day-to-day leadership post-acquisition. Capital base includes Principal's investment, alongside a small group of long-term partners.Isaac spent his early career in small and mid-sized businesses, including a leadership role in a family-owned B2B distributor. For the past eight years, he has been with Bain &…

Recent Transactions

This member has no reported closed transactions.

Arnell Capital

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Arnell Capital is a non-traditional investment fund that aims to facilitate ownership transitions by investing, operating, and growing businesses in the United States for the long-term. We focus on creating value, not capturing value. Our mission is to provide small-to-medium businesses a tailored succession opportunity that will ensure long term value creation for owners, employees, and clients. Arnell Capital’s investors and unique investing approach allow us to pursue our mission with “no strings attached”.

Recent Transactions

This member has no reported closed transactions.

Donald Chataika

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I am an individual buyer seeking to acquire and operate a profitable small to mid-sized business, with a long-term owner-operator mindset. I bring over 12 years of experience in supply chain, procurement, and operations, with a proven track record of improving efficiency, reducing costs, and building strong, trust-based relationships with suppliers, customers, and internal teams.Throughout my career, I have led cross-functional teams, negotiated vendor agreements, and implemented practical operational improvements that delivered meaningful cost savings, improved service levels, and…

Recent Transactions

This member has no reported closed transactions.

Yosemite Group

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Yosemite Group is a search fund that works with Search Investment Group (SIG), an equity-backing partner, for the purpose of acquiring and operating a small-to-medium business. Yosemite Group is targeting recurring revenue businesses with $750K - $3M in cash flow, ideally in the Business Services, Home Services, Healthcare Services, or low CapEx manufacturing / distribution sectors.

Recent Transactions

This member has no reported closed transactions.

Locke River LLC

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Locke River is a searchfund dedicated to finding one SMB to buy and operate. The searchis geographically focused on Texas and Illinois. The criteria for size is up to $7MM inenterprise value with a minimum EBITDA of $300k. My background is in investmentbanking, private equity, and private credit where I have executed numerous transactions.

Recent Transactions

This member has no reported closed transactions.

Elm Tree Capital Partners

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Elm Tree Capital Partners is a search fund with the focus of providing a unique and attractive solution for owners to unlock the wealth they have created by experiencing a liquidity event and stepping back from the day-to-day operations. We provide a transition to new, talented, responsible and committed senior management focused on maintaining the legacy of the organization, taking care of the existing employees, customers and partners and continuing the success of the business.We are not a private equity firm. Elm Tree Capital Partners is a privately held partnership of seasoned executives,…

Recent Transactions

This member has no reported closed transactions.

Defense Legacy Partners

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Our mission is to help small business owners seeking retirement transition out with peace of mind and their legacy intact. Our leadership team brings years of experience to bear on the greatest challenge of our time — helping small business owners transition. We’re results-driven, with a proven record of previous successes. With a combined 25+ years of professional management experience spanning various backgrounds and industries, we intend to take your business to the next level after you retire. As US veterans, we faithfully served our nation in times of war and peace. We stand to…

Recent Transactions

This member has no reported closed transactions.

Daniel Mockaitis

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Daniel Mockaitis is a search fund focused on small to medium sized acquisitions. We partner with exceptional companies seeking the next stage of growth. Post acquisition, we work closely with our portfolio companies to drive measurable value for all stakeholders.

Recent Transactions

This member has no reported closed transactions.

TM Consultants

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Having spent most of my career in small family owned businesses I am know focused to finding a business to acquire. My experience in leading businesses to reach their full potential spans 25+ years.

Recent Transactions

This member has no reported closed transactions.

Next Partners LLC

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Next Partners LLC is focused on acquiring lower middle-market B2B or B2C operating businesses in Northern Illinois or Southeastern Wisconsin in the $500K-$1M EBITDA range.Elisabeth 'Lis' Settimi brings extensive operating experience to Next Partners LLC, having worked at Fortune 500 corporations as well as founding her own business through a successful exit. Lis's previous experience includes:The Clorox Company, Brand ManagerPeet's Coffee, Director of Retail Marketing for New StoresConsumer Oral Healthcare Start Up, Director of Sales & MarketingIn addition, Lis founded, owned and operated…

Recent Transactions

This member has no reported closed transactions.

PARC Partners

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PARC Partners (“PARC”) is a search fund seeking to acquire and operate a single company, with the backing of committed capital from a small group of investors and entrepreneurs.PARC is primarily focused on B2B services and / or technology businesses with $1-10mm EBITDA, a recurring revenue model, a diverse client base and an established employee culture.We offer sellers the opportunity for a liquidity event and a flexible transition plan while ensuring continuity for their customers / employees and a commitment to the sustainable long-term growth of their business.

Recent Transactions

This member has no reported closed transactions.

ML Capital

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ML Capital is a private equity firm dedicated to forming enduring partnerships with business owners who have invested years in developing their companies. The firm offers a comprehensive suite of services, including investment, mentorship, and resources tailored to support business growth and success. ML Capital's investment focus spans across business services, healthcare, and technology sectors, leveraging the expertise of its investors, which include accomplished business owners, CEOs, and family offices. With a track record of investing over $500 million, ML Capital has successfully…

Recent Transactions

This member has no reported closed transactions.

Frequently Asked Questions

How are Search Funds in this directory ordered?

Firms in the Chicago Search Funds directory are ordered based on recent deal activity on Axial. The default order reflects observed market signals rather than a subjective ranking of firm quality.

What information is included in each Search Fund profile?

Each profile provides information about the firm’s areas of focus, transaction criteria, and relevant activity on Axial’s M&A platform. Together, these details provide a clearer view of where a firm is active and the types of companies and opportunities most relevant for it.

What company sizes are most common for Chicago Search Funds?

Based on activity on Axial’s M&A platform, the core revenue range for Chicago Search Funds is $3M-$14M, with a core EBITDA range of $800K-$3M. Company size can be an important indicator of fit, as firms often concentrate their experience, resources, and transaction activity within particular segments of the market.

How important is location when evaluating Search Funds?

Location can be an important consideration, but it does not necessarily define where a firm is active. Firms based in Chicago may bring regional knowledge, local relationships, and experience with businesses in the area, while many also pursue opportunities across a broader geographic footprint. Geography is best considered alongside sector focus, company size, and relevant transaction activity.

Do all Search Funds in this directory operate exclusively in Chicago?

Not necessarily. A firm’s location does not always define its geographic reach. Many Search Funds based in Chicago are active across multiple regions, while firms based elsewhere may also participate in the Chicago market. Location can provide useful context, but it should not be interpreted as a firm’s geographic boundary.

How do I compare Search Funds in Chicago?

When comparing Search Funds in Chicago, consider factors such as sector focus, size range, and recent transaction activity. These characteristics vary across the 130 firms included in the directory and can help identify firms that align with your needs.

How do I connect with Chicago Search Funds?

Axial can help you identify and connect with firms based on your objectives and what you are looking to accomplish. The process varies depending on your role and transaction needs. If you are interested in connecting with firms in the Chicago Search Funds directory, you can request information here.

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