CAP91 Partners

CAP91 Partners  /  Co-Investments

Minority equity in companies we believe in, alongside sponsors we trust.

We invest non-control equity alongside control sponsors in middle-market buyouts, looking for situations where our knowledge is our edge.

What we do

Non-control equity alongside control sponsors in middle-market buyouts.

The investment

We invest non-control equity alongside control sponsors in middle-market buyouts, in businesses we understand through long-term knowledge building.

In many cases we have known the company before. That familiarity is what lets us underwrite quickly and maintain our conviction through the hold period.

Why sponsors bring us in

We are not competing for the deal, and we do not require a lead role.

What we add is a partner who already understands the asset, commits its own capital alongside the sponsor’s, and can be called on for value-added interactions over the hold period.

How we work

Three things a sponsor can count on.

We bring years of valuation expertise

Our partners have evaluated hundreds of middle-market businesses across the sectors we invest in. We put that knowledge to work validating a sponsor’s underwriting. A co-investor who can defend the thesis independently is worth considerably more when the plan needs to change.

We move quickly

Co-investment capital is only useful if it is committed when the equity has to be committed. We are built to give a clear answer on a sponsor’s timeline, and a quick no when the opportunity is not a fit.

We are easy to work with

No control, no board requirement, and nothing that slows the company down. The sponsor runs the investment, and we are available whenever we are useful.

Investment criteria

CAP91 investment size
$10M – $35M
EBITDA
Up to $200M
Core focus
$25M – $75M EBITDA
Enterprise value
Up to $3B
Ownership
Minority, non-control
Geography
North America and Europe
Sectors
Aerospace & Defense, Business Services, Consumer, Energy, Power & Infrastructure, Healthcare, Industrials, Technology, and Transportation & Logistics
Structure
Common equity; structured equity considered
Situations
New platforms, add-on financings, recapitalizations

If you have something you would like to chat with us about, please reach out.