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

Active Firms

799

TTM Deal Inquiries

$5M-$20M

Core Revenue Range

$1M-$4M

Core EBITDA Range

Top Sectors by Activity

Industrials 43%

Business Services 13%

Healthcare 11%

Technology 11%

Consumer Goods 7%

Key Attributes

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

PennSpring Capital

1 Closed Deal via Axial

10 Total Closed Deals Actively Sourcing Deals

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Investment OverviewPennSpring Capital is actively seeking acquisitions of lower-middle-market businesses where founders are looking for a trusted partner to ensure long-term continuity, professionalize operations, and support the next stage of growth. We move quickly, close reliably, and customize structures to meet seller goals.We have a strong track record across compliance-oriented software, environmental services, B2B services, and niche recurring-revenue businesses.Target CriteriaIndustry Focus (any of the following):Environmental services (asbestos, mold,…

Recent Transactions

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Aug 2023 Acquired EHC
Aug 2023 Acquired Yapstone
Aug 2023 Acquired Circle
Aug 2023 Acquired total traffic service

Graham Partners

46 Total Closed Deals Actively Sourcing Deals

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Graham Partners is a private investment firm focused on investing in businesses with proprietary technologies, advanced manufacturing know-how, innovative product development capabilities, and strong growth potential. Graham Partners targets companies with EBITDA between $5 million and $50 million, and will invest in smaller companies to the extent they complement one or more of its other holdings. Since the firm's founding in 1988, Graham Partners has closed over sixty acquisitions, joint ventures, financings, and divestitures. The committed capital raised since inception through the Graham…

Recent Transactions

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Sep 2023 Acquired Barcoding
Sep 2023 Acquired Commercial Bakeries Corp.
Aug 2023 Acquired TAOGLAS
Mar 2023 Acquired Rhythmlink

Renovus Capital Partners

36 Total Closed Deals Actively Sourcing Deals

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Founded in 2010, Renovus Capital Partners is a private equity firm specializing in the Knowledge and Talent industries. Renovus, based in the Philadelphia area, manages over $1 billion across three sector focused PE funds and one generalist strategy (RCap). The firm’s current portfolio includes over 25 U.S. based businesses specializing in education and training, B2B healthcare services, technology services and professional services. Renovus typically partners with founder-led businesses, leveraging its industry expertise and access to debt and equity capital to make operational…

Recent Transactions

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Aug 2023 Acquired quiktrak
Aug 2023 Acquired Modality Solutions
Jul 2023 Acquired Procomputing
Jun 2023 Acquired Oakbrook Solutions

Argosy PE Investments, LLC

32 Total Closed Deals Actively Sourcing Deals

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Founded in 1990, Argosy Capital invests entrepreneurial capital with experienced business partners in two asset classes, lower middle market operating companies and real estate. Our focus is on creating value with our business partners by investing in inefficient markets where creativity, hard work and disciplined risk taking can generate exceptional returns for the benefit of all stakeholders. As partners with our investors, co-investors, operating company management teams and real estate operating partners, we are dedicated to creating value by building upon the strengths of the people,…

Recent Transactions

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Aug 2023 Acquired Barco Products
May 2023 Acquired Diverse Logistics & Distribution, Inc.
Apr 2023 Acquired Burco, Inc.
Nov 2022 Acquired Best Warehousing & Transportation, Inc.

Eureka Equity Partners, L.P.

25 Total Closed Deals Actively Sourcing Deals

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Eureka Equity Partners is a private equity firm focused on investing in and building niche-market leaders at the lower end of the middle market. Eureka’s core focus is partnering with exceptional management teams to acquire businesses with up to $100 million in revenue across industry segments in which Eureka brings significant experience and operating resources, including business services, health care services, specialty manufacturing and consumer products. Eureka leads buyouts that bring significant ownership to the operators driving the success of the business. With this core principle…

Recent Transactions

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Nov 2014 Acquired Jansy Packaging, LLC
Feb 2013 Acquired West Academic Publishing
Dec 2012 Invested in Creative Co-Op
May 2011 Invested in Project Leadership Associates

Incline Equity Partners

8 Total Closed Deals Actively Sourcing Deals

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Incline Equity Partners is the driving force in middle market private equity. A firm that proves you can be authentic, transparent, generate strong results… and have fun doing it.Based in Pittsburgh, with an office in New York City, we are active investors targeting services, value-added distribution and specialized light manufacturing companies with enterprise values of $25 - $750 million. Step into Incline Mode at inclineequity.comThird party posts found on this profile do not reflect the views of Incline and have not been reviewed by Incline as to accuracy or completeness.

Recent Transactions

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Jun 2012 Acquired Dorner Manufacturing
Apr 2012 Acquired Double E Company
Jul 2010 Invested in Revolution Dancewear
Jun 2010 Acquired Oracle Elevator

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Agility Equity Partners

7 Total Closed Deals Actively Sourcing Deals

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Agility Equity Partners is a private equity firm focused on flexible equity solutions in the lower middle market ($5-30M of EBITDA). The firm emphasizes disciplined execution and long-term value building. It focuses on three business models: recurring services, value-add distribution, and asset-light manufacturing.

Recent Transactions

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Oct 2025 Acquired Ampica Energy Solutions
Oct 2025 Acquired Accredited Labs
May 2025 Acquired Horticultural Distributor
Jul 2024 Acquired SPATCO

Tecum Capital Partners

6 Total Closed Deals Actively Sourcing Deals

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Tecum Equity is an operationally oriented growth investment firm focused on supporting family and founder owned businesses within the precision manufacturing, high value-added distribution, and nondiscretionary B2B service sectors. We target industrial end markets where we can leverage our past operational and investment experience. We seek to support first time ownership transitions where our resources and experiences can augment the existing team’s culture and capabilities. Since 2006, our team has invested over $1B of growth capital and served as leaders and advisors to over 100…

Recent Transactions

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Aug 2025 Acquired A&D Manufacturing Company
Jun 2025 Acquired Industrial Supply Company
Aug 2024 Acquired Kadon Precision Machining
Oct 2023 Acquired Basement Waterproofing Company

Blue Highway Capital

Actively Sourcing Deals

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Blue Highway Capital is a U.S. based investment firm growing small middle market companies nationally, with a focus on the Northeast and Mid-Atlantic regions. We provide $3-12M of growth capital to primarily rural businesses that are at an inflection point. Our firm’s name refers to the backroads on traditional maps and atlases, which were drawn in blue. Providing capital is just a starting point for how we can assist in achieving your vision. Our principals draw from a wealth of sector expertise, personal networks and investment experience to help companies develop growth…

Recent Transactions

This member has no reported closed transactions.

Inverness Graham

11 Total Closed Deals

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Headquartered in Newtown Square, PA, Inverness Graham is an operationally focused private investment firm that has raised over $1 billion of capital since its inception. Inverness Graham acquires innovative tech-enabled manufacturing, service and software companies.Our approach is as unique as our heritage. Founded by senior executives of the Graham Group, an alliance of independent operating businesses, investment firms and philanthropic entities, we bring unparalleled resources developed over a 50-year operating history to support our portfolio companies.Inverness Graham partners with…

Recent Transactions

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Mar 2023 Acquired Innovia Medical
Jan 2023 Acquired Treat Planet
Aug 2022 Acquired Custom Agronomics
Feb 2022 Acquired Concord Servicing

Emko Capital LLC

7 Total Closed Deals

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Emko Capital is a family-run investment firm focused on industrial, infrastructure, and aerospace businesses. We seek to invest in and actively manage privately held companies in the United States, and to grow them to their full potential.Our operating partners, Josh and Dean, have over 30 years combined experience in industrials, infrastructure, aerospace and related industries.

Recent Transactions

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Oct 2023 Acquired SMX Industrial Solutions
Oct 2023 Acquired Special Effects Manufacturer (Confidential)
Aug 2021 Acquired A&D Precision Machining (confidential)
May 2019 Invested in Rotabull

SCG Global

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SGC Global's a private investment firm focused on control-oriented investments in lower-middle-market businesses operating within resilient, fragmented industries.We target companies generating $250K–$2M in EBITDA across sectors including HVAC & mechanical services, restoration and environmental services, healthcare services, specialty distribution, and supply chain/logistics infrastructure. Our strategy is to establish strong platform investments and accelerate growth through disciplined add-on acquisitions, operational enhancement, and prudent leverage.SCG employs a structured…

Recent Transactions

This member has no reported closed transactions.

FBG Investments

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FBG Investments was founded in association with RedGo Development by Fred B. Goebert. FBG Investments actively and passively invests in real estate, public and private companies. Fred Goebert, the Founder of FBG Investments, has 20+ years of experience of investing experience with a strong focus on developing or repositioning commercial real estate for the long term hold.

Recent Transactions

This member has no reported closed transactions.

Center Capital

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Center Capital is a Pittsburgh-based investor group and independent sponsor focused on partnering with lower and middle market businesses. The firm operates as a private equity fund, providing capital and strategic support to established businesses seeking growth and development. Center Capital's investment strategy is centered around fostering partnerships with companies that require financial backing to expand their operations and enhance their market position. By leveraging its expertise and resources, Center Capital aims to drive value creation and long-term success for its portfolio…

Recent Transactions

This member has no reported closed transactions.

Full Guard Capital

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Full Guard Capital is a private investment firm dedicated to partnering with family, founder, and management-owned businesses to drive growth and create value. With a focus on Government and Municipal Outsourced Services, Niche Business Services, and Industrial Manufacturing, Engineered Parts, and Services, the firm leverages decades of combined experience to offer capital solutions and customized investment strategies. Backed by a network of family offices and high-net-worth individuals, Full Guard Capital prides itself on its agile, flexible approach, allowing for quick evaluation and…

Recent Transactions

This member has no reported closed transactions.

Jericho Equity

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Jericho Equity was named after our two founders, Jamie Richter and Eric Schwartz. In addition, the city of Jericho believed to be the oldest continuously inhabited city in the world represents the firm's steady, long-term approach to business. Our investor group is comprised of private individuals. Because we are not constrained by the requirements of institutional investors, we have the freedom to own a company for as long as it takes to enable the business to maximize its growth potential. We Operate the Business Jericho Equity Partners is not your typical private investment firm. We do not…

Recent Transactions

This member has no reported closed transactions.

Pointer Capital, LLC

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Pointer Capital is a family office backed investment firm focused on acquiring privately held lower middle market businesses. We work with businesses owners and management teams to offer flexible structures and transition plans to help take companies to the next level of growth. Our focus is to preserve a business’ legacy, and people, and to work with management to achieve success, aligned across all parties.

Recent Transactions

This member has no reported closed transactions.

Ideaty Holdings, LLC

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Ideaty is a collaborative partnership comprised of some of the world's most accomplished brand managers, creative directors, and consumer product engineers. The firm operates as a consultancy, focusing on leveraging the expertise of its partners to deliver innovative solutions and strategies for brand management and product development. Ideaty's approach is rooted in collaboration, drawing on the diverse skills and experiences of its team to drive success for its clients. The company is positioned as a leader in the consultancy space, offering tailored services that cater to the unique needs…

Recent Transactions

This member has no reported closed transactions.

Bellevue Equity Partners

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Bellevue Equity Partners is a Pittsburgh-based private equity firm with deep roots in the middle market. Named for one of Pittsburgh's neighborhoods, Bellevue reflects our commitment to the kind of businesses that define it — hardworking, enduring, and built to last. Founded on a belief that the best private equity outcomes are built through genuine partnership, deep industry focus, and hands-on engagement with management teams, we pursue control buyouts of lower middle market companies with $3M–$20M in EBITDA, with a particular focus on services, distribution, and light…

Recent Transactions

This member has no reported closed transactions.

Cimarron Healthcare Capital

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Cimarron Healthcare Capital is a Salt Lake City-based healthcare-focused private equity firm. The firm was founded in 2015 to provide critical capital and partnership to owners and operators of healthcare businesses in a corner of the market underserved by professional investors. In the lower middle-market, our team’s collective experience, networks and approach drive the most value for those with whom we partner.

Recent Transactions

This member has no reported closed transactions.

Firms in the Pennsylvania 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 Pennsylvania Private Equity Funds is $5M-$20M, 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 Pennsylvania 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 Pennsylvania are active across multiple regions, while firms based elsewhere may also participate in the Pennsylvania market. Location can provide useful context, but it should not be interpreted as a firm’s geographic boundary.

When comparing Private Equity Funds in Pennsylvania, consider factors such as sector focus, size range, and recent transaction activity. These characteristics vary across the 20 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 Pennsylvania Private Equity Funds directory, you can request information here.

Top Pennsylvania Private Equity Funds

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