Top Illinois Private Equity Funds with Recent Private M&A Activity

Active Firms

1,559

TTM Deal Inquiries

$6M-$26M

Core Revenue Range

$1M-$5M

Core EBITDA Range

Top Sectors by Activity

Industrials 47%

Technology 13%

Healthcare 10%

Consumer Goods 8%

Business Services 7%

Key Attributes

Focus: Control Investments | Capital Source: Committed Capital | Operating Approach: Scale & Exit

McNally Capital LLC

3 Total Closed Deals Actively Sourcing Deals

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McNally Capital is a private equity firm targeting thesis-driven investments in the U.S., specifically founder-, family-, and management-owned companies. The firm was founded in 2008 by Ward McNally, whose family owned and operated Rand McNally & Company for over 100 years. These roots provide a deep appreciation of building and scaling companies that shape industries and endure for generations. The firm seeks to apply its hands-on experience, institutional capabilities, and proprietary value creation framework to its portfolio companies to benefit management teams in their next phase of…

Recent Transactions

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Dec 2022 Acquired Xcelerate Solutions
Mar 2022 Acquired Smith & Oby
Apr 2021 Acquired Orbis

Sycamore Bridge LLC

Actively Sourcing Deals

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Led by Ryan Aurand, Sycamore Bridge focuses on acquiring and operating well-run small businesses. With a strategic approach to enhancing business performance, Sycamore Bridge aims to provide effective solutions for businesses in need of revitalization. The firm is dedicated to improving operational efficiency and ensuring sustainable growth for the companies it manages.

Recent Transactions

This member has no reported closed transactions.

Author Capital Partners, LLC

Actively Sourcing Deals

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Author Capital is a private equity firm that empowers highly entrepreneurial family- and founder-led businesses with flexible capital, strategic advice, and long-term partnership.

Recent Transactions

This member has no reported closed transactions.

Greystone Industrial Partners

Actively Sourcing Deals

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Greystone Industrial Partners is a Chicago-based private equity firm dedicated to investing in lower middle market industrial businesses. Greystone leverages over 40 years of combined private equity experience to drive value creation and growth. The firm specializes in sectors such as packaging, building products, manufacturing, distribution, and industrial services. The firm is committed to partnering with exceptional founders and management teams to scale and transform businesses, ensuring efficient transaction execution and strategic growth. Greystone targets buyouts, management-led…

Recent Transactions

This member has no reported closed transactions.

Frontenac Company

46 Total Closed Deals

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Frontenac Company was founded in 1971 with the belief that people are the driving factor behind successful businesses. Nearly 20 years ago we developed a “CEO1ST Investing” strategy to partner with outstanding business leaders and together identify, acquire and build leading businesses. Our CEO1ST partners are leaders in their fields and provide strategic and operational insight to our portfolio companies.Together with our CEO1ST partners, we provide the capital, network and resources to enable our portfolio companies to respond to opportunities, grow and succeed.We focus on lower…

Recent Transactions

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Apr 2018 Acquired TPC Training
Sep 2017 Invested in Schlotterbeck & Foss
Aug 2017 Invested in Industrial Color Brands
May 2017 Invested in Colorado Timberline

Performant Capital

21 Total Closed Deals

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Performant Capital is a Chicago-based private equity firm focused on majority control buyout investments in technology-driven companies. We acquire businesses across software, technology-enabled services, and data intelligence products and services. Our investments focus on businesses where our depth of investing and operating expertise can accelerate growth and drive outsized performance.Performant Capital typically invests in founder-owned businesses and prefers to be the first institutional capital. Software platforms typically have $3-10MM in ARR and tech-enabled services business…

Recent Transactions

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Jun 2025 Acquired Wine Suite
Apr 2025 Acquired EyeMD
Jan 2025 Acquired OrderPort
Sep 2024 Acquired Healthcare Process Consulting

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High Street Capital

19 Total Closed Deals

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We are business builders. We are dedicated to, and passionate about, finding differentiated companies and fundamentally improving them. We back this strategy with our own personal capital.Our approach starts with seeking opportunities to improve selected businesses within the lower middle market. It includes a willingness and ability to offer flexible and creative solutions to business owners looking for liquidity.Our process continues with due diligence focused on crafting tailored strategies to build winning businesses with strong growth prospects. We begin with an end in mind and exit when…

Recent Transactions

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Oct 2010 Acquired SourceGate Systems, Inc.
Oct 2010 Acquired Superior Fibers, Inc.
Oct 2010 Acquired Sustainability Investments L.L.C.
Oct 2010 Acquired Amrep, Inc.

New Harbor Capital

10 Total Closed Deals

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At New Harbor Capital, we forge lasting partnerships that transform businesses and unlock untapped potential.Specializing in lower middle-market private equity, our team works in close collaboration with founders of growth-oriented companies who see their potential but are hesitant to go it alone — providing the camaraderie, expertise and resources to tackle any challenge together.New Harbor Capital was founded on the premise that exceptional ideas are fostered through a culture of mutual respect, coupled with a methodical, research-driven approach. We seek to create a culture of…

Recent Transactions

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Jan 2023 Acquired Desert Spine and Sports Physicians
Apr 2022 Acquired Escalon Services
Dec 2021 Acquired IndeVets
Nov 2021 Acquired MindPlay Education

Red Arts Capital

6 Total Closed Deals

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We invest in companies across the supply chain, ranging from logistics to value-added manufacturing to business services. Our experienced investment team and our advisory group of industry leaders and operators have built a strategic approach that prioritizes sophisticated analysis, deep sector knowledge, and thoughtful collaboration with our portfolio management teams, our investors, and the wider investment community.

Recent Transactions

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Sep 2025 Acquired Belpak
Mar 2025 Acquired Freshway
Dec 2024 Acquired KKSP
Oct 2022 Acquired Flex Logistics

Promus Equity Partners

5 Total Closed Deals

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Promus Equity Partners is a private equity investment firm affiliated with Promus Holdings, a multi-family asset management company with approximately $500 million under management among its affiliated entities.We target healthy, lower-middle market companies with EBITDA of $15 million or less. Members of our team are proven investors who bring wide-ranging experiences over numerous economic cycles in a variety of industries. As a family office with a flexible investment mandate, we can think creatively and allow each opportunity to guide our investment structure and duration absent the…

Recent Transactions

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Aug 2012 Acquired ACI Building Systems, LLC
Apr 2012 Acquired QCC, LLC
Dec 2011 Acquired LogicMark, LLC
Mar 2011 Acquired ProSteel Security Products, Inc.

Cresset Partners

5 Total Closed Deals

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Cresset Private Capital investing team makes direct investments in operating companies where we have experience. We focus on long term partnerships with like-minded entrepreneurs, founders, and management teams. We believe in long-term, flexible, and patient capital avoiding misalignment, friction and unfavorable fee structures, which can produce inefficient results for business owners and investors.

Recent Transactions

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Aug 2023 Acquired WestMONROE
Aug 2023 Acquired Churchill from Nuveen
Aug 2023 Acquired Selby Lane
May 2023 Acquired TRUE Capital Management

Avathon Capital

4 Total Closed Deals

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Avathon Capital is a private equity firm that specializes in investing in lower middle-market companies within the education and workforce sectors. Avathon Capital's investment strategy focuses on acquiring and developing businesses that contribute to the growth and development of education and workforce management markets. The firm manages a diverse portfolio of over 15 companies, including notable names like Panopto, Shorelight, and ReUp

Recent Transactions

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Apr 2025 Acquired OculusIT
Apr 2024 Acquired Confidential Company
Sep 2023 Acquired Magical Beginnings
Aug 2021 Acquired Confidential Company

Origin Investments

2 Total Closed Deals

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Founded in 2007, Origin Investments is a real estate investment firm that acquires office and multifamily properties in eight fast-growing markets: Austin, Atlanta, Charlotte, Chicago, Dallas, Denver, Houston and Raleigh. With offices in Chicago, Charlotte, Dallas and Denver, Origin has regional teams in and around each of its target markets, which gives the firm a competitive advantage in sourcing and managing portfolio investments. Origin has a half-billion dollars in assets under management and has outperformed pro forma on 96% of acquisitions, leading to a 90% investor retention rate.

Recent Transactions

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Jun 2013 Invested in Origin Capital Fund II
Feb 2011 Invested in Origin Capital Opportunity Fund

Burling Street Capital Partners

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Burling Street Capital has been helping lower middle market companies achieve their financial objectives since 1997. With hundreds of closed transactions, Burling Street is one of the most successful middle market investment banking firms in the country. It takes experience, commitment, and unwavering focus to achieve such results and that is what we bring to every deal.The Burling Street team's track record reflects our commitment to our clients and our focus on results. We will not enter into an engagement without us being confident that we can drive it to a successful outcome, evidenced…

Recent Transactions

This member has no reported closed transactions.

Halbar Partners

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HalBar Partners is an operator-led investment firm specializing in ownership transitions within the emerging and core middle market. The firm collaborates with experienced operators to facilitate business transitions, providing the necessary capital and governance support to ensure long-term alignment and success. HalBar Partners focuses on management-led transitions, partnering with operators who possess deep domain expertise and are prepared to lead their own acquisitions. By investing alongside these operators, HalBar ensures that leadership continuity is maintained, supporting businesses…

Recent Transactions

This member has no reported closed transactions.

Hilco Global

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Hilco Global is an independent financial services company and the world's preeminent authority on helping businesses maximize the value of their assets. Hilco Global is considered a world class company, having earned this reputation after decades of providing creative solutions for both healthy and distressed businesses to yield the maximum value for every client. Hilco Global often provides investment capital, demonstrating an ability and willingness to share risk and reward. Today, Hilco Global has over 500 employees within a portfolio of twenty companies on 5 continents, all of which focus…

Recent Transactions

This member has no reported closed transactions.

Clinica

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Lower middle market PE firm looking to buy a business. We usually aim for 1M + EBITDA businesses in growing industries. We move fast and have certainty of close. Looking forward to chatting more and sharing more about our strategy over a call.

Recent Transactions

This member has no reported closed transactions.

HKS Capital Advisors

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HKS Capital Advisors ("HKS") is a boutique investment advisory firm with offices in suburban Chicago, Illinois and Dallas, Texas. HKS was founded in 2011 by Christopher Hughes, Tim Keith and John Staab who collectively have over 70 years of fiduciary investment management, capital markets, and advisory experience serving institutional investors, family offices, and other individuals.Our clients and limited partners are successful entrepreneurs, sophisticated individuals, and family offices that understand the value of experienced judgment and the importance of a disciplined investment…

Recent Transactions

This member has no reported closed transactions.

Wolf Point Growth Partners

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Overview: Wolf Point Growth Partners LLC is focused on investing in privately held businesses as platforms for growth. As a cornerstone of our investment strategy, we are committed to taking an active role in the management of the business. Ideal investment situations include: retiring business owners seeking liquidity, non-management shareholders seeking liquidity, corporate divestitures or growth equity. Wolf Point offers business owners a unique alternative to traditional liquidity options for their business. We have the capital available of a private equity firm, but the focus on managing…

Recent Transactions

This member has no reported closed transactions.

WP Global

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WP Global Partners is a private equity firm offering investment strategies. WP Global Partners is a significant player in the private equity landscape, leveraging its expertise to drive growth and innovation in its chosen markets.

Recent Transactions

This member has no reported closed transactions.

Firms in the Illinois Private Equity 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.

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 Private Equity Funds is $6M-$26M, with a core EBITDA range of $1M-$5M. 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 Private Equity Funds 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 Private Equity Funds in Illinois, consider factors such as sector focus, size range, and recent transaction activity. These characteristics vary across the 53 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 Private Equity Funds directory, you can request information here.

Top Illinois Private Equity Funds

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