Lower middle market debt and equity investor (SBIC)
Bluehenge Capital Partners
- HeadquartersBaton Rouge, LA S7
- Websitebluehenge.com
- Last verifiedOctober 28, 2026
At a glance
| Assets under management | $400M (as of Apr 2026) S8 |
|---|---|
| EBITDA range | $3M to $25M S3 |
| Revenue range | $20M to $250M S3 |
| Check size | $5M to $25M S3 |
| Deal types | Minority, Growth S3 |
| Geography | United States S7 |
| Sectors | Industrial & Manufacturing, Distribution, Environmental & Waste, Construction Services, Transportation & Logistics |
What Bluehenge Capital Partners buys
Bluehenge Capital Partners is a Baton Rouge, Louisiana investor, with an office in Dallas, that manages SBIC funds and provides debt and equity. It looks for lower middle market companies with $20 million to $250 million of revenue and $3 million to $25 million of EBITDA, and invests $5 million to $25 million per deal as senior debt, junior debt, equity or a blend. The money can pay for growth, a recapitalization, a refinancing or a buyout. It backs family-owned, founder-led and private equity-owned companies in industrial and business services, manufacturing, distribution, logistics, healthcare, technology and consumer markets.
In many recent deals Bluehenge has been the financing partner behind another buyer. It put debt and equity into Arrowhead Winch and TEBCO to support buyouts led by other firms, and invested next to KLH Capital Partners in eTech Environmental & Safety Solutions, an environmental remediation company. It also backs owners directly, as with growth capital for Integrity Laundry Services in April 2026. Fund II closed at $234 million in 2023, and Fund III made its first investment in June 2026.
Recent deals
Announced in the 24 months before October 28, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Aug 2026 | Rotorcraft Leasing CompanyRecapitalized by Voyager Interests, ending a Fund I investment in the Broussard, Louisiana offshore helicopter operator | Exit | Transportation & Logistics | Source |
| Jun 2026 | TEBCO of KentuckyDebt and equity supporting Foundation Investment Partners' investment in the Clay City, Kentucky truck body maker; the first deal from Fund III | Investment | Industrial & Manufacturing | Source |
| May 2026 | W.A. Jones Truck Bodies and EquipmentColumbia City, Indiana truck equipment and upfitting company, listed under Funds II and III | Investment | Industrial & Manufacturing | Source |
| Apr 2026 | Integrity Laundry ServicesGrowth capital for new equipment, automation and Southeast expansion at a commercial laundry and linen provider serving Florida, Alabama, Mississippi and Louisiana | Growth | Source | |
| Apr 2026 | Alliance Distribution PartnersExited its 2023 investment in the Hendersonville, Tennessee wholesaler of industrial safety and welding products; buyer not named | Exit | Distribution | Source |
| Jul 2025 | Echelon Supply & ServiceDebt for a refinancing led by owner HCI Equity Partners at the Liverpool, New York hose and fluid conveyance distributor | Investment | Distribution | Source |
| Jun 2025 | Quality Energy ServicesOffshore well intervention services company sold to Cardinal Services after a Fund I holding that began in 2015 | Exit | Source | |
| Dec 2024 | Arrowhead WinchDebt and equity, with Patriot Capital, for independent sponsor The Black Phoenix Group's majority buyout of the Broken Arrow, Oklahoma winch and hoist maker | Investment | Industrial & Manufacturing | Source |
| Nov 2024 | Geo-Systems USAGrand Prairie, Texas designer and maker of water-based fire pump systems and geothermal components | Investment | Industrial & Manufacturing | Source |
Portfolio by sector
From the firm's portfolio page S4.
Fund I
- Point Dedicated Services
- Weco Manufacturing
Fund II
- Iberville Companies
- 2000 Industries
- eTech Environmental & Safety Solutions
- Selinsky FORCE
- Arrowhead Winch
- Powerhouse Engine Services
- Geo-Systems USA
- SOS Xtreme Comfort
- B&J Welding Supply
- Echelon Supply & Service
- Integrity Laundry Services
Fund II and Fund III
- W.A. Jones Truck Bodies and Equipment
- TEBCO of Kentucky
Past investments: Rotorcraft Leasing Company, Alliance Distribution Partners, Quality Energy Services
Greymont’s take
How Bluehenge Capital Partners fits a seller
Bluehenge suits an owner who wants outside capital without necessarily handing over the business, and owners who are selling to a smaller buyer that needs a debt and equity partner to close. It can fund a family ownership change, as it did at SOS Xtreme Comfort in 2024, where the new president and his wife stayed in charge, or supply growth money, as it did at Integrity Laundry Services. In many of its deals, though, another firm is the lead buyer and Bluehenge holds debt and a minority stake.
Because its SBIC funds both lend and invest, an owner should ask how much of the check is debt, what the interest and repayment terms are, and who will control the board. When a sponsor is also involved, ask which firm makes the final calls and when Bluehenge expects to be repaid or to exit.
Questions owners ask
Does Bluehenge invest in environmental services companies?
It holds one. In September 2023 it invested alongside KLH Capital Partners in eTech Environmental & Safety Solutions, an environmental remediation and consulting firm working in Texas, New Mexico and Louisiana. Earlier it backed EnWater Solutions, a West Texas saltwater disposal company it has since exited.
Is Bluehenge a lender or an equity investor?
Both. It calls itself a private equity and private credit firm, and its checks can be senior debt, junior debt or equity. Recent examples range from a debt-only refinancing for Echelon Supply & Service in July 2025 to debt and equity for TEBCO in June 2026.
What size company does Bluehenge invest in?
Its criteria call for $20 million to $250 million of revenue and $3 million to $25 million of EBITDA. It invests $5 million to $25 million per company, for growth, recapitalizations, refinancings or buyouts.
Sources
- S1Bluehenge Capital Partners home page Accessed October 28, 2026
- S2Bluehenge: About Us Accessed October 28, 2026
- S3Bluehenge: Partnering With Bluehenge (investment criteria) Accessed October 28, 2026
- S4Bluehenge: Portfolio Companies Accessed October 28, 2026
- S5Bluehenge News Accessed October 28, 2026
- S6Bluehenge Announces Final Close of Its Latest SBIC at $234M (October 9, 2023) Accessed October 28, 2026
- S7Bluehenge Announces Investment in TEBCO (June 18, 2026) Accessed October 28, 2026
- S8Alliance Distribution Partners and Bluehenge: exit announcement (April 13, 2026) Accessed October 28, 2026
- S9Bluehenge Announces Successful Exit of Rotorcraft Leasing Company (August 31, 2026) Accessed October 28, 2026
- S10Bluehenge Announces Investment in Integrity Laundry Services (April 22, 2026) Accessed October 28, 2026
- S11Bluehenge Announces Investment in eTech Environmental & Safety Solutions (September 14, 2023) Accessed October 28, 2026
- S12Bluehenge Partners With M. Spiegel & Sons / SOS Xtreme Comfort (August 28, 2024) Accessed October 28, 2026
- S13Bluehenge Supports Echelon Supply Through Debt Investment (July 25, 2025) Accessed October 28, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Bluehenge Capital Partners. Figures are as reported on the dates shown and may have changed. Request a correction