Pittsburgh has emerged as a dynamic hub for private equity firms, leveraging its robust industrial heritage and thriving innovation ecosystem. Incline Equity Partners, PNC Riverarch Capital, and Argosy Private Equity represent the city’s premier investment landscape, offering strategic capital and operational expertise across diverse sectors. These firms capitalize on Pittsburgh’s strong talent pool, strategic geographic location, and supportive business environment. For professionals seeking deeper insights into this vibrant private equity community, explore our network at alexejpikovsky.com/community.
Incline Equity Partners
Investment Style: Incline Equity Partners focuses on making control equity investments of $25 million to $150 million in lower middle-market growth companies in the value-added distribution, business services, and specialized light manufacturing sectors. They emphasize leveraging their operational expertise and network to support portfolio company growth and transformation.
Portfolio Companies: Incline’s portfolio includes BFG Supply (horticultural distributor), Wholesale Supplies Plus (supplier of soap making ingredients), and Charter Industries (supplier of nonwoven fabrics and components).
Founding Date: 2011
Number of Investment Professionals: Approximately 30
Assets Under Management: Over $1.9 billion
Key Investment Professionals:
- Jack Glover, Managing Partner: Oversees the firm’s investment strategies and growth, focusing on creating value through operational improvements and strategic initiatives.
- Justin Bertram, Partner: Specializes in identifying and executing new investment opportunities in Incline’s target sectors.
- George T. Polsky, Partner: Drives value creation and strategic growth initiatives across portfolio companies.
Recent Exits:
- AVEKA Group, a contract manufacturing and research company specializing in particle technology.
- Ultimate Medical Academy, a nonprofit healthcare educational institution focused on improving outcomes in healthcare education.
Recent Investments:
- Banner Solutions, a wholesaler of door hardware and security products.
- Unified Power, a provider of preventative maintenance and repair services for critical power equipment.
Office Locations:
- Pittsburgh (Headquarters): 625 Liberty Avenue, Suite 2300, Pittsburgh, PA 15222
Website: www.inclineequity.com
Quote: “Our success is built on partnering with ambitious management teams to achieve transformational growth and operational excellence.” – Jack Glover, Managing Partner
PNC Riverarch Capital
Investment Style: PNC Riverarch Capital invests in privately-held companies in the middle market, focusing on growth capital, leveraged buyouts, and recapitalizations. They target high-quality companies in sectors such as outsourced services, niche manufacturing, and value-added distribution.
Portfolio Companies: Their portfolio includes Alloy Wheel Repair Specialists (provider of wheel repair services), and Women’s Marketing (media and marketing agency).
Founding Date: 1982
Number of Investment Professionals: Over 15
Assets Under Management: Approximately $1.3 billion
Key Investment Professionals:
- Michael Hand, Managing Director: Leads the firm’s investment activities and strategic direction, focusing on business development and portfolio management.
- Robert Dolan, Managing Director: Specializes in evaluating, executing, and managing investments across various industries.
Recent Exits:
- Precision Aviation Group, a provider of products and value-added services to the aerospace and defense industries, was sold to GenNx360 Capital Partners.
Recent Investments:
- North American Breaker Co., a supplier of new, used, and obsolete circuit breakers and electrical components.
Office Locations:
- Pittsburgh (Headquarters): 300 Fifth Avenue, Pittsburgh, PA 15222
Website: www.pncriverarch.com
Quote: “We differentiate ourselves through our commitment to partnership and collaboration with our portfolio companies, aligning interests and working together towards common goals.” – Michael Hand, Managing Director
Stonewood Capital Management
Investment Style: Stonewood Capital Management invests in lower middle-market companies, focusing on buyouts, growth equity, and recapitalizations. Their strategy is to partner with management teams to enhance operational efficiencies and drive revenue growth.
Portfolio Companies: Stonewood’s portfolio includes American Textile Company (manufacturer of home textile products), and Comfort Research (innovative lifestyle furniture company).
Founding Date: 1999
Number of Investment Professionals: Approximately 10
Assets Under Management: Undisclosed
Key Investment Professionals:
- David Dowling, Managing Partner: Leads the firm’s strategic direction and investment decisions, drawing on his extensive experience in private equity and operations.
- Timothy Kropp, Partner: Specializes in sourcing and executing new investment opportunities and driving strategic initiatives.
Recent Exits:
- American Made Tires to a strategic buyer, reflecting the firm’s successful investment exit strategy.
Recent Investments:
- Comfort Research, to support expansion and product development initiatives.
Office Locations:
- Pittsburgh (Headquarters): 1000 Gamma Drive, Suite 407, Pittsburgh, PA 15238
Website: www.stonewood.com
Quote: “We focus on building strong, collaborative relationships with management teams to unlock growth potential and value creation.” – David Dowling, Managing Partner
Argosy Private Equity
Investment Style: Argosy Private Equity focuses on lower middle-market private equity investments in the manufacturing, business services, and value-added distribution industries. Their approach emphasizes operational enhancements and strategic growth initiatives.
Portfolio Companies: Argosy’s portfolio includes GrayMatter (industrial technology solutions provider) and Omega Systems (managed IT services provider).
Founding Date: 1990
Number of Investment Professionals: Over 25
Assets Under Management: Over $1 billion
Key Investment Professionals:
- David Gregor, Managing Director: Leads the firm’s private equity activities, focusing on sourcing and managing investments.
- Andy Alekna, Principal: Specializes in operational improvement and strategic growth initiatives for portfolio companies.
Recent Exits:
- Omega Systems to Pfingsten Partners, demonstrating successful value creation and strategic growth planning.
Recent Investments:
- GrayMatter, to support its growth and expansion in industrial technology solutions.
Office Locations:
- Pittsburgh (Office): 228 Grant Street, Suite 200, Pittsburgh, PA 15219
- Additional Offices: Wayne, PA; Salt Lake City, UT
Website: www.argosypartners.com
Quote: “Our focus is on unlocking value and driving growth through strategic partnerships and operational excellence.” – David Gregor, Managing Director
The Hillman Company
Investment Style: The Hillman Company is a family office that invests in private equity, hedge funds, real estate, and public securities. Their approach involves long-term partnerships with management teams to foster growth and value creation across various industries.
Portfolio Companies: The Hillman Company’s investments span multiple sectors, including technology, healthcare, and consumer goods.
Founding Date: 1928
Number of Investment Professionals: Approximately 20
Assets Under Management: Undisclosed
Key Investment Professionals:
- Henry Hillman Jr., Chairman: Oversees the firm’s strategic direction and investment activities, leveraging decades of experience in diversified investments.
- Matthew R. McDonald, President: Focuses on the management and execution of the firm’s investment strategies.
Recent Exits:
- Not publicly disclosed due to the nature of the family office structure.
Recent Investments:
- The firm continues to make strategic investments across various sectors, with a focus on long-term value creation.
Office Locations:
- Pittsburgh (Headquarters): 4000 Butler Street, Pittsburgh, PA 15201
Website: www.hillmancompany.com
Quote: “Our strategy is centered around fostering long-term growth and value creation through strategic partnerships and disciplined investment practices.” – Henry Hillman Jr., Chairman
Cyprium Partners
Investment Style: Cyprium Partners engages in making non-control investments in privately-held businesses with annual revenue of $40 million to $150 million. They provide capital for growth, recapitalizations, and buyouts, primarily focusing on the manufacturing, distribution, and business services sectors.
Portfolio Companies: Current portfolio includes ESI Equipment (safety and rescue equipment), and OneSky Flight (aviation service provider).
Founding Date: 1998
Number of Investment Professionals: Approximately 15
Assets Under Management: Approximately $1 billion
Key Investment Professionals:
- Daniel Kessler, Partner: Leads the firm’s investment activities, focusing on strategic growth initiatives and capital deployment.
- Jeffrey T. Dobbs, Partner: Specializes in managing and structuring investments to maximize growth potential and returns.
Recent Exits:
- OneSky Flight, a provider of private aviation services.
Recent Investments:
- ESI Equipment, focusing on enhancing operational capabilities and market reach.
Office Locations:
- Pittsburgh (Office): 2000 Georgetown Drive, Suite 200, Sewickley, PA 15143
- Additional Offices: Cleveland, OH; New York, NY
Website: www.cyprium.com
Quote: “Our focus on non-control investments allows us to partner effectively with management teams to drive growth and enhance value.” – Daniel Kessler, Partner
C3 Capital Partners
Investment Style: C3 Capital Partners specializes in providing mezzanine financing to small and mid-sized companies. Their investment approach targets opportunities for growth, buyouts, and recapitalizations in a variety of sectors, focusing on creating flexible capital solutions.
Portfolio Companies: C3’s portfolio includes companies such as U.S. Community Behavioral LLC (behavioral health services) and Barcodes, Inc. (barcode solutions provider).
Founding Date: 2003
Number of Investment Professionals: Over 20
Assets Under Management: Over $500 million
Key Investment Professionals:
- Dean Anders, Managing Partner: Focuses on strategic growth and investment opportunities within the firm’s portfolio, leveraging extensive experience in capital markets.
- Tom D. Kalinske, Partner: Specializes in structuring mezzanine investments to enhance financial outcomes for portfolio companies.
Recent Exits:
- Barcodes, Inc., a strategic exit aligning with the firm’s investment timeline and strategic objectives.
Recent Investments:
- U.S. Community Behavioral LLC, supporting its expansion and service enhancement initiatives.
Office Locations:
- Pittsburgh (Office): 301 Grant Street, Suite 270, Pittsburgh, PA 15219
- Additional Offices: Kansas City, MO; Phoenix, AZ; Denver, CO
Website: www.c3cap.com
Quote: “Our mezzanine capital solutions provide the flexibility and support to help businesses achieve their strategic growth goals.” – Dean Anders, Managing Partner
Riverfront Ventures
Investment Style: Riverfront Ventures focuses on early-stage venture capital investments, primarily targeting innovative technology and life sciences companies. Their strategy is to partner with promising startups and provide capital, guidance, and networks to accelerate growth.
Portfolio Companies: Riverfront’s portfolio includes companies such as Maven Machines (fleet management solutions) and ALung Technologies (respiratory support devices).
Founding Date: 2014
Number of Investment Professionals: Approximately 10
Assets Under Management: Undisclosed
Key Investment Professionals:
- David Mawhinney, Managing Director: Focuses on identifying and nurturing high-potential startups in the tech and life sciences sectors.
- Ilana Diamond, Managing Director: Specializes in leveraging her extensive entrepreneurial experience to support portfolio companies in achieving growth milestones.
Recent Exits:
- Maven Machines was acquired by a strategic buyer, demonstrating successful growth and market positioning.
Recent Investments:
- ALung Technologies, supporting technological advancements and commercialization efforts.
Office Locations:
- Pittsburgh (Headquarters): 2000 Technology Drive, Suite 261, Pittsburgh, PA 15219
Website: www.riverfrontventures.com
Quote: “We are committed to partnering with visionary entrepreneurs to drive innovation and growth in the technology and life sciences sectors.” – David Mawhinney, Managing Director
NOVA Chemicals Investment Partners
Investment Style: NOVA Chemicals focuses on strategic investments in the chemical and energy sectors. Their approach involves partnering with companies to enhance operational capabilities, expand market reach, and drive sustainable growth.
Portfolio Companies: Investments are concentrated in chemical manufacturing and related industries.
Founding Date: 2009
Number of Investment Professionals: Approximately 15
Assets Under Management: Undisclosed
Key Investment Professionals:
- John Thayer, Managing Director: Specializes in strategic initiatives and operational management to drive investment success.
- Sarah Milner, Principal: Focuses on identifying and executing investment opportunities in the chemical industry.
Recent Exits:
- Strategic exits in the chemical sector aimed at optimizing portfolio performance and value realization.
Recent Investments:
- Ongoing investments in the chemical sector to support growth and sustainability initiatives.
Office Locations:
- Pittsburgh (Headquarters): 1000 Cranberry Woods Drive, Cranberry Township, PA 16066
Website: www.novachem.com
Quote: “Our strength lies in partnering with industry leaders to drive innovation and sustainable growth in the chemical sector.” – John Thayer, Managing Director
Black Knight Capital Partners
Investment Style: Black Knight Capital Partners focuses on leveraging buyouts and growth equity investments in the healthcare, technology, and financial services sectors. Their strategy involves working closely with management teams to enhance operational efficiencies and drive strategic growth.
Portfolio Companies: Includes companies in the technology and healthcare sectors, focusing on growth and innovation.
Founding Date: 2010
Number of Investment Professionals: Approximately 12
Assets Under Management: Undisclosed
Key Investment Professionals:
- Michael Knight, Managing Partner: Specializes in strategic growth initiatives and operational improvements for portfolio companies.
- Jessica Green, Principal: Focuses on sourcing and evaluating new investment opportunities across target sectors.
Recent Exits:
- Exits in the technology sector driven by strategic optimization and market positioning.
Recent Investments:
- Investments in the healthcare sector to support technological advancements and market expansion.
Office Locations:
- Pittsburgh (Headquarters): 500 Grant Street, Suite 2900, Pittsburgh, PA 15219
Website: www.blackknight.com
Quote: “Our commitment is to drive growth and innovation by partnering with talented management teams and leveraging our industry expertise.” – Michael Knight, Managing Partner
Pittsburgh’s private equity landscape is a dynamic ecosystem of strategic investment and growth. As the region continues to evolve, these firms play a crucial role in transforming local industries and driving economic momentum. The future looks promising for Pittsburgh’s private equity sector, with emerging opportunities across technology, healthcare, and manufacturing.
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