Calera Capital: Buy Box & Recent Acquisitions

At a glance

Assets under management	$2.8B (as of October 2026) S4
EBITDA range	$5M to $40M S4
Check size	$30M to $200M S4
Deal types	Platform, Add-on S4
Sectors	Transportation & Logistics, Healthcare Services, HVAC, Plumbing & Electrical, Dental

What Calera Capital buys

Calera Capital has backed founder, family and management-owned companies since 1991 from offices in Boston and San Francisco. It works in three areas: business services, meaning outsourced functions that need deep industry knowledge; logistics, mainly freight brokerage and transportation management; and specialty industrials, which for Calera includes multi-site home services such as HVAC and plumbing, floor coatings and fencing. Current companies include FitzMark, CMC, Atrium Home Services, Cypress Health Partners, Nocturne Luxury Villas and ReVamp Companies.

For a new platform, Calera looks for $5 million to $40 million or more of EBITDA and invests $30 million to $200 million or more of equity. It usually buys a majority stake while the founder or managers keep a large share; the firm says owners have put in about $1 for every $2 it has invested. Smaller companies most often join through add-ons, which FitzMark, Cypress Health Partners and Nocturne have completed regularly over the past two years.

Recent deals

Announced in the 24 months before October 19, 2026.

Date	Company	Type	Sector	Source
Oct 2026	Luxury Simplified RetreatsCharleston-area luxury vacation rental manager added to Nocturne Luxury Villas	Add-on	Property Management & HOA	Source
Sep 2026	United Transportation ServicesTrade show logistics provider added to FitzMark, its 11th transaction	Add-on	Transportation & Logistics	Source
Jan 2026	ReVamp CompaniesFounder-led home improvement services company in Freeport, Illinois, with about 60 locations; sixth Fund VI investment	Platform		Source
Sep 2025	Hometown LogisticsDry van and flatbed freight broker added to FitzMark	Add-on	Transportation & Logistics	Source
Apr 2025	High Point Logistics and PENTONIX FreightRefrigerated and less-than-truckload freight businesses added to FitzMark	Add-on	Transportation & Logistics	Source
Mar 2025	Nocturne Luxury VillasLuxury vacation rental management platform bought from Gladstone Investment; Calera took a majority stake alongside management	Platform	Property Management & HOA	Source
Jan 2025	McCune, Murphy & Potter Physical TherapyThree New York clinics added to Cypress Health Partners; the owners stay on as managing partners	Add-on	Healthcare Services	Source
Nov 2024	Arnott IndustriesAftermarket air suspension maker sold to MidOcean Partners	Exit		Source
Oct 2024	Healy Physical Therapy & Sports MedicineRhode Island practice added to Cypress Health Partners	Add-on	Healthcare Services	Source

Portfolio by sector

From the firm's portfolio page S4.

Business Services

Nocturne Luxury Villas
C-4 Analytics
F&I Sentinel
Cypress Health Partners
United Dental Partners

Logistics

CMC
FitzMark

Specialty Industrials

ReVamp Companies
ImageFIRST
Atrium Home Services
Thayer Infrastructure Services
Carnegie Fabrics

Greymont’s take

How Calera Capital fits a seller

Calera fits an owner who wants to sell control but keep a meaningful piece of the company. Its typical deal leaves the founder or managers with a large stake; at F&I Sentinel, for example, the two founders kept 49%. The firm also grows its platforms through steady add-ons, so a smaller freight broker, physical therapy practice or vacation rental manager may find a home inside FitzMark, Cypress Health Partners or Nocturne. FitzMark says it has kept and incentivized the leaders of the companies it has bought, which matters for owners who want to stay involved.

Owners should ask how much equity they will be expected to roll over, how long Calera plans to hold the business, and how the next sale is likely to happen. Every exit Calera lists since 2016 went to another private equity firm, most recently Arnott to MidOcean Partners in 2024, and it used a continuation fund to keep ImageFIRST in 2023.

Questions owners ask

Does Calera Capital buy home services companies?

Yes. It owns Atrium Home Services, a Cleveland-based provider of HVAC, plumbing and electrical services across the Midwest, and in January 2026 it bought ReVamp Companies, which installs floor coatings, fencing and decking for homeowners from about 60 locations.

What size company does Calera look for?

For a new platform, Calera's firm overview lists $5 million to $40 million or more of EBITDA and an equity check of $30 million to $200 million or more. Smaller businesses usually fit as add-ons to one of its existing companies.

Do owners keep a stake after selling to Calera?

Usually. Calera says its typical partner wants to keep significant ownership, and that founders and managers have rolled about $1.7 billion of equity into its deals, roughly $1 for every $2 Calera has invested.

Is Calera still buying logistics companies?

Yes. Its freight brokerage platform FitzMark bought High Point Logistics and PENTONIX Freight in early 2025, Hometown Logistics in September 2025 and United Transportation Services in September 2026, which it called its 11th transaction.

Sources

S1Calera Capital home page Accessed October 19, 2026
S2Calera Capital: About Us Accessed October 19, 2026
S3Calera Capital: Sector Focus and Portfolio Accessed October 19, 2026
S4Calera Capital Firm Overview (PDF, October 2026) Accessed October 19, 2026
S5Calera Capital Announces Acquisition of ReVamp Companies (January 7, 2026) Accessed October 19, 2026
S6Calera Capital: F&I Sentinel case study Accessed October 19, 2026
S7Gladstone Investment Corporation Exits Its Investment in Nocturne Luxury Villas (March 11, 2025) Accessed October 19, 2026
S8Calera Capital: News Accessed October 19, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Calera Capital. Figures are as reported on the dates shown and may have changed. Request a correction