Middle market private equity firm (flagship North American buyout strategy of Alvarez & Marsal Capital)
A&M Capital Partners
- HeadquartersGreenwich, CT S1
- Websitea-mcapital.com
- Last verifiedOctober 20, 2026
At a glance
| EBITDA range | $10M to $50M S2 |
|---|---|
| Check size | $50M to $200M S2 |
| Deal types | Platform, Add-on S2 |
| Geography | North America S2 |
| Sectors | IT Services & MSP, Healthcare Services, HVAC, Plumbing & Electrical, Construction Services, Distribution, Consumer & Food, Industrial & Manufacturing |
What A&M Capital Partners buys
A&M Capital Partners is the main North American buyout strategy of Alvarez & Marsal Capital, a Greenwich, Connecticut firm tied to the Alvarez & Marsal consulting group. The strategy has more than $4.0 billion of total commitments and is investing from its third fund. It takes control or joint control of companies with roughly $10 million to $50 million of EBITDA and enterprise values of $100 million to $500 million, putting in $50 million to $200 million of equity. Its target sectors are government services, industrial services, healthcare, business services, financial services and consumer.
Founder and family ownership transitions top its list of target situations, along with build-ups, corporate carve-outs, take-privates and special situations. Recent platforms include East Coast Power, a founder-led electric utility services company, and the family-owned Day & Nite, which was merged with AmeriServe. Smaller companies are most likely to meet A&M as add-ons, for example to VTG, which bought six defense and intelligence technology firms in 2025. A&M Capital also runs separate minority, European and secondaries strategies that this profile does not cover.
Recent deals
Announced in the 24 months before October 20, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jun 2026 | CanAideMedicaid eligibility and revenue cycle services business to join Med-Metrix (definitive agreement) | Add-on | Healthcare Services | Source |
| Jun 2026 | VitalwareHospital revenue software unit bought from Health Catalyst for Med-Metrix (definitive agreement) | Add-on | Healthcare Services | Source |
| Feb 2026 | Day & Nite AmeriServePartnership with the family-owned Day & Nite companies, merged at the same time with AmeriServe to form a commercial HVAC/R and kitchen equipment service platform | Platform | HVAC, Plumbing & Electrical | Source |
| Jan 2026 | United Powerline SolutionsIndiana overhead power line services firm added to East Coast Power | Add-on | Construction Services | Source |
| Dec 2025 | AsurintCleveland background screening company founded in 2005 | Platform | Source | |
| Dec 2025 | TC Transcontinental PackagingUS$1.51 billion agreement for ProAmpac to buy the packaging arm of TC Transcontinental | Add-on | Industrial & Manufacturing | Source |
| Nov 2025 | Miklos SystemsEmployee-owned intelligence community software and cloud firm added to VTG | Add-on | IT Services & MSP | Source |
| Oct 2025 | Heartland Business SystemsWisconsin IT services and managed services provider sold by A&M Capital Opportunities to GenNx360 | Exit | IT Services & MSP | Source |
| Sep 2025 | BGSF Professional Services Division$99 million purchase of a consulting and managed services unit for INSPYR Solutions | Add-on | Source | |
| Jun 2025 | Med-MetrixPartial exit: Harvest Partners made a growth investment and A&M kept a minority stake | Exit | Healthcare Services | Source |
| May 2025 | Byte Systems, iota IT and Tunuva TechnologiesThree defense and intelligence technology firms added to VTG at once | Add-on | IT Services & MSP | Source |
| Mar 2025 | The Danielsen CompanyNorthern California school foodservice distributor added to GS Foods | Add-on | Distribution | Source |
| Feb 2025 | Loki SolutionsIntelligence community services firm added to VTG | Add-on | IT Services & MSP | Source |
| Jan 2025 | East Coast PowerMajority stake in a founder-led Albany electric utility services company, made from Fund III | Platform | Construction Services | Source |
Portfolio by sector
From the firm's portfolio page S1.
A&M Capital Partners
- Allied Universal
- Arcticom
- Asurint
- BrightPet Nutrition
- Day & Nite AmeriServe
- East Coast Power
- GS Foods Group
- INSPYR Solutions
- Med-Metrix Active (minority stake)
- Nevada Heart & Vascular
- PetWise
- ProAmpac
- SAMGI
- Talus Payments
- Turnbridge
- United Musculoskeletal Partners
- VTG
Past investments: Brady Industries, Centerra Services, CNSI, ettain group, Gabriel Brothers, MPLT Healthcare, Organix Recycling, PatientCare EMS Solutions, Pritchard Industries, PureStar Linen Group, WHC Energy Services
Greymont’s take
How A&M Capital Partners fits a seller
A&M Capital Partners suits owners of larger founder or family businesses in government IT, healthcare services, utility services or commercial HVAC and equipment repair who want a control buyer that brings operating help. The firm's main pitch is its access to the Alvarez & Marsal consulting bench, so a seller should expect a detailed plan for systems, reporting and acquisitions after closing. Founders often stay involved: East Coast Power's founder still runs the company and is using A&M's money to expand nationally, and the Sher family partnered with A&M when Day & Nite merged with AmeriServe.
Most owners below $10 million of EBITDA will meet A&M as an add-on to a platform such as VTG, East Coast Power or GS Foods. Two questions worth asking are how much equity the owner is expected to roll over, and how A&M plans its exits, since it sold control of Med-Metrix to Harvest Partners in 2025 while keeping a stake.
Questions owners ask
Does A&M Capital Partners buy IT services companies?
Yes, mostly in government IT. Its portfolio company VTG, a defense and intelligence technology contractor, bought Loki Solutions, Triaplex, Byte Systems, iota IT, Tunuva Technologies and Miklos Systems during 2025. A&M's earlier lower middle market fund also sold Midwest managed IT provider Heartland Business Systems to GenNx360 in October 2025.
What size company does A&M Capital Partners look for?
Its strategy page targets companies with $10 million to $50 million of EBITDA and enterprise values of $100 million to $500 million, with equity investments of $50 million to $200 million. Smaller businesses usually fit as add-ons to one of its existing platforms.
Does the founder stay on after A&M invests?
Often. When A&M bought a majority of East Coast Power in January 2025, it said it would work closely with founder Darren Donohue to grow the business, and he still leads it as CEO. In the 2026 Day & Nite deal, Matthew Sher became CEO of the combined platform.
Will A&M Capital take a minority stake instead of buying control?
The flagship strategy focuses on control and joint control deals. A separate A&M Capital strategy, Strategic Investments, takes minority stakes, but it invests alongside other private equity firms rather than directly with founders.
Sources
- S1Alvarez & Marsal Capital home page (about, strategies, team and portfolio) Accessed October 20, 2026
- S2A&M Capital Partners strategy page: target situations and investment criteria Accessed October 20, 2026
- S3A&M Capital news archive Accessed October 20, 2026
- S4A&M Capital Partners Enters into Strategic Partnership with East Coast Power (January 23, 2025) Accessed October 20, 2026
- S5Day & Nite Announces Strategic Partnership with Alvarez & Marsal Capital and Merger with AmeriServe (February 2, 2026) Accessed October 20, 2026
- S6VTG Acquires Miklos Systems (November 25, 2025) Accessed October 20, 2026
- S7Med-Metrix Announces Growth Investment From Harvest Partners Alongside A&M Capital (June 24, 2025) Accessed October 20, 2026
- S8East Coast Power Acquires United Powerline Solutions (January 6, 2026) Accessed October 20, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with A&M Capital Partners. Figures are as reported on the dates shown and may have changed. Request a correction