Top Railroads Private Equity Funds

Martis Capital

27 Total Closed Deals Actively Sourcing Deals

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With offices in Palo Alto, CA, and Washington, DC, CHSO is a private investment firm focused exclusively on the healthcare and wellness industry. We target middle-market companies and growth situations in North America where our team has an edge in understanding the opportunity, performing due diligence and adding value post close. Our investment team possesses over 50 years of combined investment and medical experience, and leverages an extensive network of relationships with healthcare executives, clinicians, scientists and regulators. We provide flexible, patient capital in partnership…

Recent Transactions

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• Oct 2022 Invested in Alcanza Clinical Research
• Nov 2021 Invested in Lighthouse Lab Services
• Sep 2021 Acquired Community Based Care
• Nov 2020 Acquired DCN Dx

Mangrove Equity Partners

27 Total Closed Deals Actively Sourcing Deals

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Mangrove Equity Partners' founding principals enjoy a national reputation as uncommonly effective, fair, flexible and honorable partners to company owners and managers. We have the captive financial resources (including bridge capabilities) and deal experience to efficiently close transactions. We also have substantial operating experience and a collaborative approach to building value at the companies with whom we partner. Mangrove's three person internal operating team affords our fund the ability to help owner/operators maximize the value of their retained ownership, and allows Mangrove to…

Recent Transactions

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• Oct 2022 Invested in Atlas Greenhouse
• Feb 2022 Acquired STCR
• Dec 2021 Invested in Vintage Air
• Jan 2021 Invested in Seaside Waste Services

Capitala Financial Advisors, LLC

26 Total Closed Deals Actively Sourcing Deals

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Capitala Group is an asset management firm that has been providing private credit and private equity capital to lower- and middle-market businesses throughout North America for over twenty years. Since our inception in 1998, Capitala has invested over $2.2 billion into small businesses and strives to make an impact through responsible investing and a unified mission to support social impact initiatives. We seek to partner with strong management teams to create value and support growth through strategic partnerships, operational expertise, and a shared vision for success.

Recent Transactions

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• Jan 2025 Provided debt financing to Newbury Franklin Industrials
• Dec 2024 Provided debt financing to The Stonewall Group
• Oct 2024 Invested in Stueve Construction, LLC
• Sep 2024 Acquired Better Car People

Halifax Group

25 Total Closed Deals Actively Sourcing Deals

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The Halifax Group is a private investment firm dedicated to partnering with founders and managers of lower middle-market businesses with total enterprise values generally between $50 million and $300 million.

Recent Transactions

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• Nov 2019 Acquired AAMP
• Sep 2019 Acquired Prairie Industries
• Jun 2019 Acquired StrataTech
• Apr 2018 Acquired ChanceLight

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

Tonka Bay Equity Partners

24 Total Closed Deals Actively Sourcing Deals

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Tonka Bay Equity Partners acquires and invests in small and midsized companies that are pursuing the next level of success. Our patient, personalized and collaborative approach has yielded superior returns for investors and management partners alike.Since 1998, Tonka Bay has raised more than $550 million of capital in four funds, composed of contributions from institutional investors, endowments, pensions, family offices and high-net-worth individuals. We seek to partner with and support management teams in established, profitable businesses that serve a specific niche. We do not consider…

Recent Transactions

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• Jan 2023 Acquired Corporate Technologies
• Jan 2022 Acquired Standard Locknut
• Jan 2021 Acquired Professional
• Jan 2021 Acquired Orange Tree

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Ronin Equity Partners

23 Total Closed Deals Actively Sourcing Deals

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About Ronin Equity PartnersBased in New York City, Ronin Equity Partners represents a new type of investment firm, powered by an operationally-focused value creation strategy. Ronin makes control equity investments exclusively in the Industrial and Consumer sectors, where the team has prior investment and operating expertise. The group invests in market leaders with highly defensible market positions, strong demonstrated cash flows, and in situations where Ronin’s operating playbook can add value through enhanced systems, processes, and talent recruitment. The Ronin team embeds into each…

Recent Transactions

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• Sep 2025 Acquired Confidential Company
• Jun 2025 Acquired Confidential Company
• Sep 2023 Acquired North Country Packaging
• Apr 2023 Acquired Brewmation

Heartwood Partners

23 Total Closed Deals Actively Sourcing Deals

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Heartwood Partners (formerly Capital Partner, Inc.) was formed in 1982. Since then, its principals have invested in more than seventy five companies. We believe in doing what we say we will do and being patient and disciplined investors who support exceptional management teams as they develop their businesses. On average, we have held our investments for over five years and have supported management through the acquisition of complimentary businesses. As supportive capital partners to exceptional management teams, together we have created substantial value.In January of 2014, we raised our…

Recent Transactions

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• Sep 2020 Acquired Patten Seed
• May 2020 Acquired MicroCare, LLC.
• Oct 2019 Acquired Allentown, Inc.
• Apr 2019 Acquired Universal Woods

Granite Creek Capital Partners

23 Total Closed Deals Actively Sourcing Deals

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Granite Creek manages SBIC funds providing flexible debt and equity capital to lower middle market companies. Target check sizes are $15mm to $25mm (with flexibility to scale to $50mm+ with partners) with a focus on targets with $4mm to $12mm of EBITDA. We partner with management teams to help grow their businesses and be their institutional capital partner, even when we are in a minority position. We also partner with independent sponsors. Our capital is flexible and we can invest in a wide variety of debt (senior, subordinated, mezzanine) and equity securities (preferred, common, other) to…

Recent Transactions

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• Jan 2026 Invested in Confidential Company
• Dec 2025 Acquired Confidential Company
• Nov 2024 Acquired Ritchie Industries
• Sep 2024 Acquired Global Animal Products

Kainos Capital

22 Total Closed Deals Actively Sourcing Deals

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Kainos Capital, a middle market private equity firm focused on the food and consumer sector, was recently formed by Andrew Rosen, Robert Sperry and Sarah Ashmore Bradley. The Kainos Partners have invested and collaborated together in the food and consumer space over the past 20 years and their deep industry knowledge is complimented by an experienced team of investment professionals.The Kainos Team has extensive investment and operating experience in the industry, having invested more than $2 billion of equity in more than 52 transactions in the food and consumer sector with a total…

Recent Transactions

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• Aug 2023 Acquired Good2Grow
• Feb 2023 Invested in CellCore
• Jan 2023 Acquired Evriholder
• Aug 2021 Acquired Muenster Milling Company

GenNx360 Capital Partners

22 Total Closed Deals Actively Sourcing Deals

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GenNx360 is a private equity firm driving value through Operational Engagement and Investment Excellence.We invest exclusively in North America-based business-to-business middle market industrial services and manufacturing companies in fragmented markets having structural tailwinds and sustainable competitive advantages in sectors we know well. We provide the talent and expertise of our in-house operational talent and the expertise and transaction experience of our investment team. Together, we accelerate value creation.

Recent Transactions

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• Oct 2020 Acquired B2B Industrial Packaging
• Dec 2019 Acquired AeroRepair Corp.
• Sep 2019 Acquired Schneider Packaging Equipment
• Mar 2019 Acquired Miller Environmental Group

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

Montage Partners

20 Total Closed Deals Actively Sourcing Deals

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Montage Partners is a lower-middle-market private equity firm investing in established U.S. and Canadian companies with $1.5M–$7M of EBITDA.Since 2004, we have completed 20 platform investments (14 successfully exited, 6 current) across four core sectors: Industrial Products & Services, Technology & Professional Services, Consumer, and Healthcare. Our portfolio companies collectively represent more than 1,700 employees and $400M+ in combined revenue.Montage Partners manages $80M of capital with committed capital available to deploy in 2026. We specialize in founder liquidity and…

Recent Transactions

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• Aug 2024 Acquired Military Fasteners
• Jun 2022 Acquired RDD Associates
• Oct 2021 Acquired Solly Baby
• Apr 2020 Acquired United Right-Of-Way

Arcapita Group

20 Total Closed Deals Actively Sourcing Deals

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Arcapita is a global investment firm focused on middle-market private equity and real estate transactions, with offices in Atlanta, Bahrain, London, and Singapore.Over the past 20 years, Arcapita has completed over 70 investments in the United States, Europe, the Middle East, and Asia.Our flexible investment mandate and hold period allow for creative structuring solutions and the ability to partner with founders, executives, family offices, fundless sponsors, and institutional investors.

Recent Transactions

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• Jul 2025 Acquired C&K Paving
• Apr 2025 Acquired Trustpoint.One
• Jan 2022 Acquired Nationwide Property & Appraisal Services
• Dec 2019 Acquired Waste Harmonics

GreyLion

19 Total Closed Deals Actively Sourcing Deals

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GreyLion focuses on investing in high-growth businesses in the lower middle market. We seek to partner with existing owners and management teams across the Industrial, Healthcare, Software and Services sectors to deliver capital in tailored and flexible minority and control structures. GreyLion invests $25-$125 million of capital per investment, primarily within the United States. We currently manage private equity funds with aggregate commitments of $1.9 billion.

Recent Transactions

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• Jul 2024 Acquired Birdseye Security
• Aug 2022 Acquired 360 Training
• Aug 2022 Acquired Trifecta Collective
• Aug 2021 Acquired Norwood Sawmills

Altus Capital Partners

18 Total Closed Deals Actively Sourcing Deals

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Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses. We believe that our exclusive focus on manufacturing provides us with a unique understanding of the opportunities and challenges faced by companies in the sector. We utilize a patient, thoughtful investment approach and seek to partner with the management teams of our operating companies to achieve growth.The Altus investment team has experience in all phases of making and managing investments in middle market manufacturing companies. The firm’s partners have worked…

Recent Transactions

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• Mar 2022 Acquired Winsert
• Mar 2021 Acquired Thomson Plastics
• Mar 2019 Acquired Thermal Solutions Manufacturing
• Feb 2017 Acquired MAX Environmental Technologies, Inc.

Slack Water Capital

17 Total Closed Deals Actively Sourcing Deals

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Slack Water Capital makes minority and control equity investments in small and medium-sized businesses. The Firm's primary focus is providing equity capital to acquisition entrepreneurs. 

Recent Transactions

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• Feb 2025 Invested in Atlantic Waters
• Jan 2025 Acquired Dot Palm Landscaping
• May 2024 Invested in iMold
• Feb 2024 Invested in Jones Skips (Wolverhampton)

Peak Rock Capital

17 Total Closed Deals Actively Sourcing Deals

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We make equity and debt investments in companies in North America and Europe. Peak Rock’s equity investment platform focuses on opportunities where it can support senior management to drive rapid growth and profit improvement, with expertise in corporate carve-outs and partnering with families and founders seeking first-time institutional capital. Peak Rock’s credit platform focuses on providing bespoke primary financings and making investments in secondary loans for corporate debt and commercial real estate. Peak Rock’s principals have deep expertise in complex situations and…

Recent Transactions

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• Apr 2019 Acquired Turkey Hill
• Oct 2018 Acquired Pretzels, Inc.
• Oct 2018 Acquired Louisiana Fish Fry Products
• Sep 2018 Acquired TNT Crust

CAI Capital Partners

16 Total Closed Deals Actively Sourcing Deals

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Having invested $1.6 billion in private equity over three decades, CAI has partnered with companies across North America. We are focused on Canada, a region where our connectivity offers a definitive edge.Our longstanding Canadian roots make us alive to the possibilities in the Canadian lower middle market and a phone call away from the experts and partners who can accelerate growth for each of our portfolio companies.

Recent Transactions

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• Jul 2026 Acquired ATS Scientific
• Nov 2024 Acquired Kintera
• Sep 2022 Acquired LineStar Utility Supply
• Nov 2021 Acquired GreenArrow

Traction Capital

15 Total Closed Deals Actively Sourcing Deals

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Traction Capital is a Minnesota-based private equity firm focused on acquiring and scaling businesses located in the Upper Midwest.Traction seeks buyouts in essential industries with strong, defensible market positions, target control investments in lower middle market companies with $1–3.5M of EBITDA, Traction is also very interested in ecommerce, product, and SaaS opportunities.Traction prioritizes industries with recurring demand, low cyclicality, and meaningful barriers to entry, enabling sustainable value creation and attractive exit optionality.

Recent Transactions

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• Jun 2025 Invested in PARQA
• Jun 2025 Invested in Blank Metal
• Feb 2025 Acquired Superior Decks and Railings
• Dec 2024 Invested in Atlasticity