Top Energy & Utilities Independent Sponsors with Recent Private M&A Activity

1,101

Active Firms

31,321

TTM Deal Inquiries

$3M-$15M

Core Revenue Range

$600K-$3M

Core EBITDA Range

Top States by Activity

Florida 13%

Texas 12%

California 11%

New York 7%

New Jersey 4%

Key Attributes

Focus: Control Investments | Capital Source: Deal-By-Deal Financing | Operating Approach: Scale & Exit

Salt & Soil Capital

Actively Sourcing Deals

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Salt and Soil Capital is a business acquisition and management firm that specializes in buying and running successful Canadian businesses from retiring owners. The company offers an alternative asset class, enabling investors to access equity in strong, stable, high-performing Canadian businesses. With a focus on Western Canada, Salt and Soil Capital provides succession and M&A advisory services, ensuring a smooth transition for business owners. Their team of young, passionate entrepreneurs is dedicated to maintaining the legacy and performance of the acquired businesses, making them an…

Recent Transactions

This member has no reported closed transactions.

Evergate Holdings

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Evergate Holdings is a long-term holding company that acquires and operates enduring service businesses across the U.S. The firm focuses on infrastructure-adjacent, compliance-driven industries such as environmental services, testing, inspection, energy, utilities, and related technical trades. Evergate typically targets businesses with $1-3 million in EBITDA, reoccurring or contract-based revenue, and strong reputations built over decades. The firm’s model emphasizes long-term ownership and provides founders with a trusted succession path that preserves culture, employees, and…

Recent Transactions

This member has no reported closed transactions.

Dharma Holdings LLC

Actively Sourcing Deals

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DFW-based operator and acquirer targeting recurring revenue businesses. We bring active multi-unit operational infrastructure, Texas market presence, and the ability to close without institutional drag. Seeking owner-operator transitions with $500K–$2M EBITDA and $1M–$5M enterprise value. We operate, not just hold.

Recent Transactions

This member has no reported closed transactions.

Topwater

Actively Sourcing Deals

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Topwater Group is a private equity firm specializing in the acquisition and transformation of services and SaaS businesses through the integration of artificial intelligence. The firm brings a combination of operational expertise, capital, and a proven AI-enabled playbook to enhance the efficiency and value of its portfolio companies. Topwater focuses on building and scaling B2B software companies, emphasizing AI integration to drive operational efficiency and customer value. Their investment strategy targets high-potential software firms that are ready for AI implementation, supporting them…

Recent Transactions

This member has no reported closed transactions.

BeyRose Capital

Actively Sourcing Deals

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Work at a private investment firm. The family has been investing for over 70 years and has invested across various asset classes. We look to acquire business from owners who have an excellent reputation and built a strong and reliable company

Recent Transactions

This member has no reported closed transactions.

Soni Investment Group

Actively Sourcing Deals

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I am a hands-on operator and former CFO who specializes in stepping into complex, underperforming, or operationally challenged businesses and driving stabilization, performance recovery, and long-term value creation.My background includes senior finance and operational leadership roles at publicly traded companies ranging from approximately $3B to $10B in revenue, as well as a private-equity–backed company (~$1B in revenue). Across these environments, I have led large-scale business transformations, including EBITDA recovery initiatives, cash-flow stabilization, organizational and…

Recent Transactions

This member has no reported closed transactions.

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Open Field Capital

Actively Sourcing Deals

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I grew up in St. Louis and spent my career in lower-middle-market private equity, focused on acquiring and growing founder-owned businesses across the Midwest. My goal is to acquire one well-run business, preserve what makes it great, and build a durable Midwest platform over time.

Recent Transactions

This member has no reported closed transactions.

RPG Managment

Actively Sourcing Deals

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We are a private investment group focused on acquiring and building leading lower middle-market businesses in the industrial services and industrial components sectors.Led by an investment professional with more than 20 years of experience investing across private equity and private credit at leading institutional investment firms, we bring a long-term, partnership-oriented approach to business ownership.We are primarily seeking businesses with $3 million or more of EBITDA, attractive margins, and established positions in fragmented markets where additional investment and strategic…

Recent Transactions

This member has no reported closed transactions.

Bero Investment Group

Actively Sourcing Deals

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Looking for business generating $750K -$2M in EBITDAGlobal Product & Strategy Executive with 15+ years leading large-scale consumer payments, loyalty, anddigital engagement platforms at Mastercard and Fortune 500 companies. Proven track record owning multi-market product portfolios serving 50M+ users across 40+ countries, delivering $30M+ incremental revenuethrough platform innovation, strategic partnerships, and commercialization.Partner to senior executives on product vision, investment prioritization, and long-range growth strategy, withdeep expertise in platforms, ecosystem…

Recent Transactions

This member has no reported closed transactions.

Green Light Capital

Actively Sourcing Deals

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Breckman Industries was started by Mike Smerklo (CEO of ServiceSource - $5 to $300M in revenue and taken public) and Michael Maloney (Masters in AI and $100m+ deployed across AI investments).We are focused on buying a gray-collar services business within the Building & Facility Services and/or Maintenance, Repair, and Operations broader industries. We are working through specific sub sectors as part of our search.We will acquire and operate the business, focusing on maintaining founder legacies, serving employees, and growing the business.

Recent Transactions

This member has no reported closed transactions.

Morgan Growth Partners

Actively Sourcing Deals

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With 15 years of private equity experience, I now own and manage a portfolio of businesses in the northeast and mountain west. I'm looking for control opportunities with EBITDA $500K-$10M, across a range of sectors including TMT, distribution, industrials, manufacturing and services.

Recent Transactions

This member has no reported closed transactions.

PWB Capital LLC

Actively Sourcing Deals

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PWB Capital is an operator-founded, veteran-owned private equity firm and a traditional independent sponsor. We acquire founder-owned and family-owned service businesses in partnership with the management teams already running them, and we back those teams with capital, governance and acquisition resources. We do not run the companies we buy.WHAT MATTERS MOST TO USManagement, and specifically the layer beneath the chief executive. We will recruit and fund a chief executive where one is needed. What we cannot replace is the operating knowledge underneath. Named people running operations,…

Recent Transactions

This member has no reported closed transactions.

Fort York Group

Actively Sourcing Deals

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Fort York Group acquires and operates established service-based businesses across Canada, with a focus on long-term ownership and operational continuity. We work with M&A advisors and business brokers to evaluate opportunities efficiently and maintain a clear, disciplined acquisition process. We prioritize businesses with stable cash flow and recurring or repeat revenue. Our approach emphasizes certainty of close, professionalism throughout the process, and a smooth transition for all stakeholders.

Recent Transactions

This member has no reported closed transactions.

Groundwork Operating Partners

Actively Sourcing Deals

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Who we AreGroundwork Operating Partners is a lower-middle-market private equity firm investing in industrials and the blue-collar trades. We buy founder and family-owned businesses that do essential work: manufacturing, distribution, field services, and the specialty trades that keep infrastructure running. We hold for the long term, install real operating discipline, and build platforms through disciplined organic and inorganic growth strategies.We are operators first. Our team pairs institutional deal experience with hands-on financial and operational work inside portfolio companies: ERP…

Recent Transactions

This member has no reported closed transactions.

Magnolia Growth Partners

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Looking to invest in B2B tech-enabled businesses in the Pacific Northwest with $1-8 M of EBITDA. Background as both an investor and an operator with over 20 years of experience helping businesses scale from small to large.

Recent Transactions

This member has no reported closed transactions.

Navalia

Actively Sourcing Deals

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Navalia is dedicated to investing in entrepreneurs to accelerate the growth and transformation of their businesses. With a focus on empowering business leaders, Navalia aims to foster significant advancements and innovation within their portfolio. The company is strategically positioned to support and drive the success of its investments, ensuring sustainable development and competitive advantage in the market. Navalia's commitment to its partners is evident in its robust portfolio and its proactive approach to business transformation.

Recent Transactions

This member has no reported closed transactions.

Peak XV Realty Capital

Actively Sourcing Deals

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Peak XV Realty Capital was founded in 2020 as a spinout of Everest Properties, LLC by David Lesser and Jory Lesser. David most recently served as the President and CEO of Everest Properties, LLC. At Everest David invested in excess of $200,000,000 in more than 650 limited partnerships holding multiple real estate asset types. In addition to Everest’s partnership investments, David had general oversight responsibility for Everest’s multifamily, retail and self-storage portfolios. David also developed and managed Everest’s fixed income investment program which exceeded $1 Billion. Under…

Recent Transactions

This member has no reported closed transactions.

Kestrel Training

Actively Sourcing Deals

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Kestrel Training is an innovative online trade school specializing in electrical apprenticeships. The institution offers a flexible learning schedule, allowing students to build a comprehensive portfolio and gain the necessary skills to secure their first apprenticeship. With a focus on practical, hands-on training, Kestrel Training equips aspiring electricians with the expertise needed to excel in the industry. The school emphasizes a personalized learning experience, catering to the unique needs of each student, and ensuring they are well-prepared for a successful career in the electrical…

Recent Transactions

This member has no reported closed transactions.

Rocky Capital

Actively Sourcing Deals

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Rocky Capital Management is a Vancouver-based acquirer and operator of small businesses in BC.I'm looking for 1–2 businesses, each under $2M EBITDA, that can be managed from Vancouver or Vancouver Island.I've done this twice — acquired C&C Property Group (property management) in 2022 and run it myself, and Gevorg CPA (online education) in 2026, where I sit on the board and my operating partner runs it. Before that: six acquisitions while on the Corp Dev team at Parkland Fuel.

Recent Transactions

This member has no reported closed transactions.

Stellata Partners

Actively Sourcing Deals

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Stellata Partners is an entrepreneur-led investment firm focused on acquiring, operating, and growing great businesses. The firm is dedicated to fostering sustainable growth and building long-term value for all stakeholders.

Recent Transactions

This member has no reported closed transactions.

Firms in the Energy & Utilities Independent Sponsors 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.

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.

Based on activity on Axial’s M&A platform, the core revenue range for Energy & Utilities Independent Sponsors is $3M-$15M, with a core EBITDA range of $600K-$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.

Relevant Energy & Utilities experience can be an important consideration when evaluating a firm. Familiarity with the sector can provide a stronger understanding of its business models, market dynamics, valuation considerations, and transaction environment. The 1,101 firms included in this directory provide a starting point for identifying firms with relevant experience and activity in Energy & Utilities.

Not necessarily. Many firms are active across multiple industries, so inclusion in the Energy & Utilities Independent Sponsors directory reflects relevant experience or activity in Energy & Utilities, rather than an exclusive sector focus. Individual profiles provide additional context on each firm’s areas of focus and activity within the sector.

When comparing Independent Sponsors with experience in Energy & Utilities, consider factors such as size range, geographic reach, and recent transaction activity. These characteristics vary across the 1,101 firms included in the directory and can help identify firms that align with your needs.

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 Energy & Utilities Independent Sponsors directory, you can request information here.

Top Energy & Utilities Independent Sponsors

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