Private equity firm backed by an investor network of operators and family offices
Blue Marlin Partners
- HeadquartersBethesda, MD S2
- Founded2016 S7
- Websitebluemarpartners.com
- Last verifiedNovember 4, 2026
At a glance
| EBITDA range | $5M+ S2 |
|---|---|
| Check size | $15M+ S2 |
| Deal types | Platform, Add-on, Minority, Growth S2 |
| Sectors | Consumer & Food, Construction Services, Software & SaaS, Industrial & Manufacturing, Accounting & Professional Services |
What Blue Marlin Partners buys
Blue Marlin Partners is a Bethesda, Maryland firm started in 2016 by Peter Kirsch. A traditional fund is not its main vehicle. Instead, a network of more than 80 operators, wealthy individuals and family offices, who are all part owners of the firm, invest in deals they choose and often take board or advisory roles. Its first committed fund, closed in December 2023, invests alongside that network. With its partners, the firm reports more than $820 million invested in 32 platform companies.
It is a generalist looking for $5 million or more of EBITDA and equity checks of $15 million or more. It prefers direct control but will take minority and co-investment positions, and it likes sellers who roll over part of their proceeds. Current holdings lean toward restaurants, underground utility services and business services. Add-ons have no minimum size, so a smaller company is most likely to meet Blue Marlin through a platform such as Sunstone, which plans more acquisitions. A separate AI platform puts $5 million to $20 million into Series A to C companies.
Recent deals
Announced in the 24 months before November 4, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| July 2026 | Deerfield GroupHealthcare marketing agency sold to Martis Capital; held since 2021 with The Edgewater Funds | Exit | Source | |
| June 2026 | Teletrac NavmanMajority stake in the fleet telematics company bought from Vontier with Respida Capital; Vontier keeps a minority stake | Platform | Software & SaaS | Source |
| December 2025 | Purelight Power (Solgen)Residential solar co-investment from 2022 marked realized on the firm's site | Exit | Source | |
| November 2025 | EthermedSeries A investment in AI prior authorization software; first deal from the AI platform | Growth | Software & SaaS | Source |
| October 2025 | Sunstone Real Estate Advisors and Other Street AdvisorsTwo manufactured housing and RV park brokerages combined into a national platform that plans more acquisitions | Platform | Source | |
| August 2025 | Elevate Patient Financial SolutionsRevenue cycle company sold to Audax Private Equity and Parthenon Capital; held since 2019 with The Edgewater Funds | Exit | Healthcare Services | Source |
| July 2025 | DeflectoPlastic products manufacturer, a 2018 co-investment, marked realized on the firm's site | Exit | Industrial & Manufacturing | Source |
Portfolio by sector
From the firm's portfolio page S4.
Business Services
- Curated Events
- DataBank
- Highline
- Sandler
- Sunstone Real Estate Advisors
- SuperFreeze
- Trilliad
Consumer
- Kinder's
- Kruwis Management
- Mission BBQ
- Mo' Bettahs
- Quality Brand Group
Energy
- Apricus Generation
- Enginuity
Healthcare
- Ethermed
Industrials
- AllClear Underground Solutions
- Flex Pack
- Orizon Aerospace
- Pipe View America
- RDR Utility Services Group
Technology
- Teletrac Navman
Past investments: Confluent Health, Deerfield Group, Deflecto, Elevate Patient Financial Solutions, Flow Control Holdings, Home Care Holdings, LandCare, Purelight Power (Solgen), Rensa Filtration
Greymont’s take
How Blue Marlin Partners fits a seller
Blue Marlin fits an owner who wants experienced operators at the table, since its investors often join boards and help with diligence. It leans toward people who will stay invested: its criteria say it prefers sellers and managers open to rolling over proceeds. Because most of its money comes from investors who opt into each deal rather than from one large fund, ask early how the purchase is funded and whether the capital is committed.
It often buys with partners, such as Trive Capital at Mo' Bettahs and Respida Capital at Teletrac Navman, so also ask who controls the board. Owners below $5 million of EBITDA should look at the add-on route, and ask which portfolio company is actively buying.
Questions owners ask
What size company does Blue Marlin Partners buy?
Its stated criteria call for $5 million or more of EBITDA and equity checks of $15 million or more, though it says not every deal matches. Add-on acquisitions have no minimum.
How is Blue Marlin different from a typical private equity fund?
Its capital comes mainly from wealthy operators and family offices who co-own the firm and choose deals individually. A committed fund closed in December 2023 invests alongside that network and does not replace it.
Does Blue Marlin Partners buy restaurants?
Yes. Current holdings include Mission BBQ, Mo' Bettahs, Dunkin' franchisee Quality Brand Group and Jersey Mike's franchisee Kruwis Management. Mo' Bettahs, bought with Trive Capital in October 2024, is its most recent restaurant deal.
Will Blue Marlin take a minority stake?
Control is its preference, but its criteria say it is open to minority and co-investment positions. Holdings such as Flex Pack, Orizon Aerospace and Highline are marked as co-investments on its site.
Sources
- S1Blue Marlin Partners home page Accessed November 4, 2026
- S2Blue Marlin Partners: Strategy and investment criteria Accessed November 4, 2026
- S3Blue Marlin Partners: About Us Accessed November 4, 2026
- S4Blue Marlin Partners: Portfolio (realized and unrealized status, sector tabs) Accessed November 4, 2026
- S5Blue Marlin Partners: Media Accessed November 4, 2026
- S6Blue Marlin Partners: AI Investment Platform criteria Accessed November 4, 2026
- S7Blue Marlin Partners and Respida Capital Acquire Teletrac Navman from Vontier Corporation (June 2026) Accessed November 4, 2026
- S8Blue Marlin Partners Announces Closing of First Committed Fund (December 6, 2023) Accessed November 4, 2026
- S9Blue Marlin Partners Acquires Sunstone Real Estate Advisors and Other Street Advisors (October 2025) Accessed November 4, 2026
- S10Blue Marlin Partners and Trive Capital Acquire a Majority Stake in Mo' Bettahs from Savory Fund (October 2024) Accessed November 4, 2026
- S11Teletrac Navman Begins Next Chapter as Standalone Private Company (July 6, 2026) Accessed November 4, 2026
- S12AllClear Underground Solutions home page Accessed November 4, 2026
- S13Pipe View America home page Accessed November 4, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Blue Marlin Partners. Figures are as reported on the dates shown and may have changed. Request a correction