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

Active Firms

1,795

TTM Deal Inquiries

$5M-$23M

Core Revenue Range

$1M-$4M

Core EBITDA Range

Top Sectors by Activity

Industrials 54%

Technology 10%

Business Services 8%

Consumer Goods 7%

Transportation 6%

Key Attributes

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

Heritage Holding

3 Closed Deals via Axial

53 Total Closed Deals Actively Sourcing Deals

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Heritage Holding is a Boston-based lower middle market Private Equity Fund with $220m of committed capital (Institutional Fund). HH has completed 50+ acquisitions since 2016, with a core focus on essential B2B services companies. We aim to partner with businesses that have stable track records and generate $1-10m of EBITDA.

Recent Transactions

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May 2026 Acquired Confidential Company
Mar 2026 Acquired Confidential Company
Jan 2026 Acquired Confidential Company
Jan 2026 Acquired Confidential Company

Gemini Investors

136 Total Closed Deals Actively Sourcing Deals

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Founded in 1993, Gemini Investors is a Massachusetts-based private equity firm that provides capital and strategic resources to lower middle market companies. Since its inception, we have invested approximately $1 Billion in more than 185 companies throughout the U.S., typically investing $3 – $8 million per transaction in either control or minority positions. Gemini offers a flexible investment approach. We provide a wide range of financing structures, which include subordinated debt with warrants, preferred stock, and common equity. We have extensive experience leading transactions, as…

Recent Transactions

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Sep 2025 Acquired Party Reflections
May 2025 Acquired Honey Smoked Fish
May 2025 Acquired Gold Coast Baking Company
Feb 2025 Acquired Spectro-UV

Fulham Company

32 Total Closed Deals Actively Sourcing Deals

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Fulham & co. has been investing in manufacturing companies since 1984. We seek to partner with companies that sell highly engineered products into industrial and commercial end markets. Most of the members of our firm have 20+ years of operating experience in a variety of manufacturing businesses. We work collaboratively with management teams, offering tools and advice to help our companies achieve their goals. Our firm has generated successful investment results across dozens of deals with entrepreneurial owner-managers since our first acquisition in 1984. Investment criteria: highly…

Recent Transactions

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Nov 2023 Acquired Nu-Tek Precision Optical Corp.
Aug 2023 Acquired MPF
Aug 2023 Acquired Concept Group
Aug 2023 Acquired Federal Package

Artemis Capital Partners

22 Total Closed Deals Actively Sourcing Deals

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Artemis is a highly specialized private equity firm focused on partnering with differentiated Industrial Tech companies that contribute to a healthier, safer, and more productive world. Focusing exclusively on manufacturers of highly engineered products with mission-critical applications, Artemis' vision is to buy and build deeply impactful Industrial Tech businesses that enhance global health, security, and productivity.These products enable some of the most important technologies to serve the most pressing human demands: Diagnostic lab equipment enabling health &…

Recent Transactions

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Nov 2025 Acquired Antenna Associates, Inc.
Sep 2025 Acquired Millrock Technology
Mar 2025 Acquired Athena AI
Jan 2025 Acquired Richland Glass

Union Park Capital

10 Total Closed Deals Actively Sourcing Deals

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Union Park Capital is a private equity investment firm focused solely on lower middle-market Industrial Technology companies. We partner with management teams to cultivate businesses through a combination of organic growth and careful strategic add-on acquisitions.

Recent Transactions

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Aug 2022 Acquired Advanced Illumination
Jan 2022 Acquired Bruins Instruments
Mar 2021 Acquired Guided Wave
Feb 2021 Acquired EyePro System

Cohere Capital

9 Total Closed Deals Actively Sourcing Deals

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Cohere Capital is a growth focused private equity firm that invests in leading middle-market businesses. We have over 30 years of combined experience investing in and working with growth companies, and we bring that experience to our partnerships with entrepreneurs, management teams, and companies.We take our approach from our name, "Cohere", which means being united and consistent. Our firm is founded on that philosophy.Growth is our focus. We help solidify a strong foundation and provide the expertise and capital to achieve the growth plan. While not all growth is linear, we are focused…

Recent Transactions

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Dec 2025 Acquired Flextecs
Sep 2025 Acquired Leverege
Feb 2023 Acquired Phaedon
Mar 2022 Acquired Boostability

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Exaltare Capital Partners

4 Total Closed Deals Actively Sourcing Deals

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About ExaltareExaltare Capital Partners, based in Boston, MA, is a private equity firm that invests in owner-managed, family-controlled businesses and corporate divestitures via management buyout. We look for businesses with EBITDA of greater than $3 million that appreciate a value-added partner helping contribute to its future growth and success.The word Exaltare means "to elevate" in Latin and it informs our investment approach in at least two ways: We look for investments in superior businesses operated with strong management teams. Superior businesses did not become niche-leaders by…

Recent Transactions

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Aug 2023 Invested in Urban Air Adventure Park
May 2023 Acquired Uni K Wax
Mar 2023 Acquired The Good Feet Store
Jan 2013 Acquired Planet Fitness

Captivate Partners

1 Total Closed Deal Actively Sourcing Deals

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Captivate Partners is a family-office backed investment private equity firm operating at the intersection of brand and commerce. We are active buyout and growth investors, with a focus on commercial services, business services, multi-site consumer, and platforms that drive next generation commerce.

Recent Transactions

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Sep 2020 Acquired The Paper Store / Uncharted

Ara Partners

Actively Sourcing Deals

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Ara Partners is an industrial decarbonization fund with $6.3bn AUM. We are in the market for new deals and are investing from our $2.8 billion Fund III. Our investment criteria is as follows: Equity and structured equity investments in businesses that provide significant decarbonization impact across sectors like industrials and manufacturing, chemicals and materials, energy efficiency and fuels, and food and agriculture, among othersMinimum check size of $100m, ideally $200m-$400m+ investmentsUnderlying technologies should be proven with advantaged unit economics and TAM…

Recent Transactions

This member has no reported closed transactions.

Granite Street Partners

Actively Sourcing Deals

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Granite Street Partners is a private equity firm that invests in lower-middle-market industrial and manufacturing businesses with $1-5M EBITDA. Our approach is hands-on. We are operators ourselves, and we partner directly with owners and management teams to identify underlying value and build exceptional enterprise value and returns.

Recent Transactions

This member has no reported closed transactions.

Lineage Capital

27 Total Closed Deals

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A unique model—tailored to the needs of owner-managers.Lineage was founded on the core values of trust, respect, teamwork, and commitment—ideals that provide a foundation for our strong partner relationships. For business owners who share these values, the uncommon structure of a Lineage partnership can be a way to comfortably achieve short- and long-term business and personal objectives.For nearly two decades, we’ve partnered with owner-managers who desire liquidity while continuing to benefit from the future financial success of their business. Our investment model allows…

Recent Transactions

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Jun 2024 Invested in GIK Acoustics
Feb 2024 Invested in Flutterbee Education Group
Feb 2024 Invested in Quality Glass & Mirror
Oct 2023 Acquired Concept Agritek

TA Associates

11 Total Closed Deals

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For more than 50 years, TA has helped hundreds of growing companies in our five target industries reach their full potential. We partner with you to accelerate growth and create lasting shareholder value.We invest in companies within five core sectors, offering deep domain experience and demonstrated success across business services, consumer, financial services, healthcare and technology industries.Our investments range from $70-$500 million in equity and $10-$50 million in subordinated debt transactions that value businesses generally from $100 million - $3 billion.We take minority or…

Recent Transactions

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Jan 2023 Invested in Synokem Pharmaceuticals
Jun 2022 Invested in Faria Education Group06
Mar 2022 Acquired TouchTunes
Mar 2022 Invested in Stonewall Kitchen

Fort Point Capital

9 Total Closed Deals

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Fort Point Capital is a Boston-based private equity firm that invests in and supports promising, service-oriented companies at the lower end of the middle market and helps them take the next step to accelerate their evolution and growth.

Recent Transactions

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Feb 2023 Acquired The Yandell Family of Companies
Jul 2022 Acquired ROX360
Jul 2022 Acquired Nova
Mar 2022 Acquired Jones Fish Hatcheries & Distributors

Watermill Group

7 Total Closed Deals

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The Watermill Group A Strategy Driven Private Equity Firm Since 1978, The Watermill Group and affiliates have acquired, managed, and transformed dozens of companies operating at the crossroads of hazard and opportunity. At the Watermill Group, we apply the craft of strategic planning and implementation to our portfolio companies, helping them to reach their full potential as stable businesses capable of supporting jobs and contributing to their local communities. We pride ourselves in our ability to recognize advantage where others do not. We create value through our unique brand of…

Recent Transactions

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Aug 2017 Acquired Cooper & Turner
Jul 2016 Acquired Experi-Metal Inc.
Jun 2015 Acquired Quality Metalcraft, Inc.
Feb 2014 Acquired The Plastics Group

DelCam Holdings, LLC

5 Total Closed Deals

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INVESTMENT OPPORTUNITYDelCam Capital's second private equity fund will build upon the success of Fund I. Our investment framework will seek value through the identification and acquisition of founder-led manufacturing and industrial businesses with consistent operating income at attractive multiples. MANAGEMENT TEAMDelCam's partners lead the strategic direction of the portfolio companies and participate on the leadership teams alongside our highly experienced operational managers. TRACK RECORDSince DelCam Fund I’s inception in November 2020, it has acquired five niche…

Recent Transactions

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Jul 2023 Acquired Worcester Industrial Products
Dec 2022 Acquired Howard Products, Inc.
Jun 2021 Acquired New England Fabricated Metals
Dec 2020 Acquired R.E.C. Manufacturing

Kearsedge Boston

4 Total Closed Deals

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Kearsedge Boston is a professionally managed private equity investment trust. Kearsedge Bostons' primary focus is on generating consistent, stable income through the acquisition of multifamily properties in overlooked markets across the United States. We also consider other positive cash-flowing investments.Our primary focus is multifamily acquisitions but we also consider self-storage, RV/Mobile home parks, commercial and retail. We seek out acquisitions that are uniquely situated to generate steady cash-flow, provide preferable returns and that have a degree of isolation from market…

Recent Transactions

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Dec 2000 Advised Family Office, Scottsdale, Arizona on an investment from Stock Investments
Dec 1999 Advised Family Office, Scottsdale, Arizona on an investment from Stock Investments
Dec 1992 Advised T. Rowe Price on an investment from General Public
Dec 1991 Advised T. Rowe Price on an investment from General Public

Wheelock Partners

2 Total Closed Deals

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Founded in 2004, Wheelock Partners is an operator-led private investment firm created to acquire, manage and grow existing New England manufacturing and service businesses. Wheelock is focused on acquiring businesses in a wide range of industries with revenues ranging from $5-50m. We typically take over the day-to-day operations of the acquired business so we prefer businesses with owners nearing retirement.

Recent Transactions

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Mar 2008 Acquired Sigma Genosys Division
Apr 2006 Acquired New England Peptide

New Forest Capital

2 Total Closed Deals

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We are entrepreneurial investors who eschew the traditional investment approach in search of opportunity in the small and medium enterprise (SME) landscape. We believe in bringing professional management, new incentive structures, and cutting edge technology to mature businesses and industries.

Recent Transactions

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Jun 2016 Acquired New England Commercial & Industrial Cleaning Services
Oct 2015 Acquired Cleanway Services

Ouroboros Group

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Ouroboros Group LLC is a middle market private equity firm based in Boston, Massachusetts specializing in the acquisition and operation of companies within a diverse set of industries including: manufacturing, healthcare, and consumer sectors. • Ideal investments are in the lower middle market, with Ouroboros Group having the flexibility to acquire very small businesses unable to attract significant strategic or financial sponsors as well as larger, more complex businesses. Operating under a fundless sponsor model, Ouroboros Group has no obligation to deploy capital and can…

Recent Transactions

This member has no reported closed transactions.

Kensington-SV Global

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We are a Boston-based investment firm that takes a differentiated approach to growth equity investments in the United States, Europe, and Asia. We integrate a unique family office environment with robust institutional experience to add tangible, long-term value to our partners. We are flexible in our pursuits and seek like-minded entrepreneurs and owners who prioritize strong business models and seek robust growth. We have significant investing experience in a broad range of sectors including consumer, healthcare, industrials, technology, and technology-enabled services.

Recent Transactions

This member has no reported closed transactions.

Firms in the Massachusetts 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 Massachusetts Private Equity Funds is $5M-$23M, 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 Massachusetts 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 Massachusetts are active across multiple regions, while firms based elsewhere may also participate in the Massachusetts market. Location can provide useful context, but it should not be interpreted as a firm’s geographic boundary.

When comparing Private Equity Funds in Massachusetts, consider factors such as sector focus, size range, and recent transaction activity. These characteristics vary across the 30 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 Massachusetts Private Equity Funds directory, you can request information here.

Top Massachusetts Private Equity Funds

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