Top Illinois Independent Sponsors with Recent Private M&A Activity

108

Active Firms

1,709

TTM Deal Inquiries

$5M-$21M

Core Revenue Range

$1M-$4M

Core EBITDA Range

Top Sectors by Activity

Industrials 54%

Healthcare 9%

Consumer Goods 8%

Technology 7%

Transportation 7%

Key Attributes

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

Dutter Capital Partners

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Dutter Capital Partners is a private equity firm dedicated to acquiring and growing privately held businesses. With a focus on sustainable business growth, the firm provides financial advisory services to support the scaling of private enterprises. Dutter Capital Partners aims to foster strong partnerships with businesses, leveraging its expertise to enhance operational efficiencies and drive long-term value creation. The firm is committed to identifying opportunities that align with its strategic vision, ensuring successful outcomes for its portfolio companies.

Recent Transactions

This member has no reported closed transactions.

HTR Capital

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HTR Capital is a private investment firm focused on building businesses in the lower middle market. HTR primarily focuses on control investments. We believe that superior returns can be achieved through investing in businesses that have an asymmetric risk profile alongside high-quality management teams.

Recent Transactions

This member has no reported closed transactions.

Oak Rock Capital

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Oak Rock Capital is a private investment firm which invests in middle market companies. Oak Rock Capital invests in North American companies and partners with talented management teams. We partner with management teams to build sustainable value in businesses in the long-term.

Recent Transactions

This member has no reported closed transactions.

Neptune Holdings, LLC

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Neptune Holdings acquires strong SMBs, supports smooth owner transitions, and drives growth through professional systems and long-term stewardship. Focused primarily on distribution and manufacturing.

Recent Transactions

This member has no reported closed transactions.

Phalanx Partners

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Phalanx Partners is an independent sponsor and investment firm that specializes in serving microcap and lower-middle market companies. Based in Chicago, Illinois, the firm provides strategic private capital to small businesses, offering tailored capital and operational solutions for growth and exit opportunities. Phalanx Partners focuses on helping businesses transition ownership, leveraging their experienced team's broad network to source limited and proprietary investment opportunities. Industries of focus are industrials, manufacturing, aerospace & defense, government services, and…

Recent Transactions

This member has no reported closed transactions.

AARC Holdings

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AARC Holdings acquires and permanently holds profitable, founder-owned businesses in the Midwest lower middle market.There is no hold period, no forced exit, and no intention to resell what we buy, we plan to own our companies for decades.We look for businesses with $500K–$5M in EBITDA or SDE, recurring or repeat revenue, stable margins, and operations that don't depend on the owner being in the building. Our primary focus is healthcare services and niche medical device and supply distribution, alongside compliance-driven B2B services and niche manufacturing with defensible product IP.Our…

Recent Transactions

This member has no reported closed transactions.

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TP Booker

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TP Booker is an Independent Sponsor. We target founder/entrepreneur owned and led companies in the US and Canada, with EBITDA ranging from $2M-$6M, with up to $30M in revenue, and up to $30M in Enterprise Value. We are primarily interested in low tech, high cash flow and well managed companies that fall into either of these categories: industrial services/product, manufacturing, business services, transportation/logistics, and construction.

Recent Transactions

This member has no reported closed transactions.

Pareto & Company

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Pareto & Company is an independent sponsor specializing in identifying and investing in niche opportunities within the lower-middle-market. The firm focuses on acquiring profitable businesses with EBITDA ranging from $3 million to $15 million, particularly in fragmented industries such as Business Services, B2B Products, and Niche Manufacturing. Pareto & Company also leverages its extensive network of industry leaders and financial expertise to accelerate the growth of its portfolio companies. Since its founding in 2016, the firm has demonstrated a successful track record by building…

Recent Transactions

This member has no reported closed transactions.

Rivas Enterprises

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I’m an operator with experience driving commercial performance, integration-related efficiencies, and organizational improvement inside scaled businesses. My background is in leading brand, go-to-market, and cross-functional execution across complex organizations, with responsibility for building internal capabilities, improving operating processes, and driving measurable growth outcomes. Earlier in my career, I founded and later sold a small agency, which gave me practical entrepreneurial experience and reinforced my interest in ownership and value creation.At James Hardie, in a role that…

Recent Transactions

This member has no reported closed transactions.

MPD Pool Holdings

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MPD Holdings is a private equity firm specializing in the pool industry, focusing on pool business management, mergers, and acquisitions. With a strategic approach to acquiring pool companies, MPD Holdings leverages its expertise to grow and support businesses within this niche sector. The firm is dedicated to enhancing the operational and financial performance of its portfolio companies, ensuring sustainable growth and value creation. MPD Holdings is recognized for its deep industry knowledge and commitment to excellence in managing and expanding its investments in the pool sector.

Recent Transactions

This member has no reported closed transactions.

Marion Park

Actively Sourcing Deals

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Marion Park Advisors is a Chicago-based independent sponsor focused on control buyouts, majority recapitalizations, and selective minority investments in lower middle market business and consumer services companies.We target businesses generating $1–4 million in EBITDA where we can partner with founders, families, and owner-operators navigating a ownership transition or looking for a growth-oriented capital partner. Marion Park is led by a principal with over two decades of private equity experience investing in lower middle market services businesses. That background informs a hands-on…

Recent Transactions

This member has no reported closed transactions.

LK Growth Partners

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LK Growth Partners backs the people who build great B2B services companies. We partner with entrepreneurs and management teams - often in industrials, though we follow strong businesses wherever they are - and bring the capital, resources, and operating muscle to accelerate growth.We invest in people first. Small businesses are the backbone of families and communities, and we understand what's at stake when an owner decides to take on a partner. Our job is to help you scale faster, build something durable, and reach the financial and personal goals that made you start in the first place.

Recent Transactions

This member has no reported closed transactions.

Robert Rose Capital

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Robert Rose Capital (“RRC”) is a private investment firm with a mission to build strong companies by leading with intention. RRC makes control investments in companies seeking an ownership succession or with strong leadership teams interested in recapitalizing the business to accelerate it’s growth trajectory. Our investment strategy is to employ a buy-and-build approach with companies in fragmented industries with significant tailwinds. RRC believes through diligent discipline, companies can achieve transformational growth by utilizing an appropriate capital structure and financial…

Recent Transactions

This member has no reported closed transactions.

DevCap Growth LLC

Actively Sourcing Deals

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DevCap Growth is a private equity firm focused on B2B software and services companies. We invest expansion and buyout capital in platforms seeking a partner for their next phase of growth. We help align teams around a focused product strategy and go-to-market motion to drive clear priorities and create long-term value.Investment criteria:$5M+ of recurring revenue Positive or break-even cash flow (Software)$3 - $15M of EBITDA (Services)Proven and committed management teamServe as a system of record or core workflow provider to their customersWe seek to invest $10-$50M of equity in each…

Recent Transactions

This member has no reported closed transactions.

Steel Knight Capital Partners

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Steel Knight Capital Partners is a private investment firm focused on acquiring and scaling lower middle-market companies across software, tech-enabled services, and business services. Our team brings deep experience in private equity, M&A, and operational improvement, with a track record of executing and growing founder-led businesses. We seek majority control investments in recurring revenue or contracted service models, with $1–10mm in EBITDA, and partner closely with management teams to drive long-term value creation. Representative deals include vertical SaaS, outsourced IT, and…

Recent Transactions

This member has no reported closed transactions.

Fairvest Ventures LLC

Actively Sourcing Deals

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I’m a strategic operator and investor focused on building high-growth service platforms in the restoration, roofing, and broader property services sectors. With hands-on experience launching and scaling service businesses from the ground up, I partner with owners to unlock value through operational excellence, disciplined capital deployment, and long-term revenue growth.My background spans founding and scaling service-oriented companies, structuring acquisition strategies, and building out sales, marketing, and operational infrastructure that drives recurring profitability. I bring a…

Recent Transactions

This member has no reported closed transactions.

Tetro

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Tetro is an AI-native trucking company that is focused on eliminating the inefficiencies of trucking. Our proprietary technology empowers users to accomplish more in their days and increases total production per truck and driver. The result is materially expanded operating margins. The team has previously exited a freight tech business to Ryder, and has deep operational and technical expertise.

Recent Transactions

This member has no reported closed transactions.

Alopeke LLC

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Alopeke LLC is a Chicago-based holding company and advisor that acquires and grows established, cash-generative businesses generating $500K–$5M in EBITDA, primarily in consumer brands, niche retail, specialty distribution, and essential services. We partner closely with founders and teams during transitions, succession events, or periods of operational underinvestment, applying patient capital and disciplined, hands-on execution to professionalize operations, improve margins, optimize channels, and scale what already works. Focused on long-term value creation rather than financial…

Recent Transactions

This member has no reported closed transactions.

Grant Street Partners

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Private investor with past experience in middle-market companies across a wide variety of industries. Looking to acquire smaller manufacturing or agricultural companies between $5 to $20 mm in revenues.

Recent Transactions

This member has no reported closed transactions.

MTT Enterprises

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Interested in add on acquisitions between $2M to $20M EBITDA in industrial manufacturing. Industrial technology manufacturing leader in automotive, aerospace, construction, medical device, and general industry verticals with a combination of sales, business development, and strategy expertise. I worked in private equity and publicly traded environments. I owned global P&Ls and managed challenging revenue expectations across manufacturing and service industries. I built and managed large international teams up to 90 members in size with a focus on developing talent and succession…

Recent Transactions

This member has no reported closed transactions.

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Firms in the Illinois 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 Illinois Independent Sponsors is $5M-$21M, with a core EBITDA range of $1M-$4M. 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.

Location can be an important consideration, but it does not necessarily define where a firm is active. Firms based in Illinois 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.

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

When comparing Independent Sponsors in Illinois, consider factors such as sector focus, size range, and recent transaction activity. These characteristics vary across the 108 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 Illinois Independent Sponsors directory, you can request information here.

Top Illinois Independent Sponsors

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