Lower middle market junior capital and control equity investor

Centerfield Capital Partners

At a glance

EBITDA range$1.5M to $5M S3
Check size$7M to $40M S4
Deal typesPlatform, Add-on, Minority, Growth S4
GeographyMidwest US (control equity), United States (junior capital) S3
SectorsIndustrial & Manufacturing, Distribution, Healthcare Services, Consumer & Food, Environmental & Waste, IT Services & MSP, Landscaping, Construction Services

What Centerfield Capital Partners buys

Centerfield Capital Partners is an Indianapolis investor that has focused on the lower middle market for more than two decades, with six funds, over $1 billion raised and 113 platform investments. It runs two strategies. The larger one, junior capital, supplies subordinated debt plus common and preferred equity to private equity firms, independent sponsors and owners for buyouts, recapitalizations, add-ons and growth. Those deals are usually $7 million to $40 million, in US companies with $3 million to $15 million of EBITDA, and with owners Centerfield invests without taking control.

The control equity arm, Centerfield Equity, buys founder-owned companies with $1.5 million to $5 million of EBITDA and margins above about 10 percent, based in the Midwest or within easy reach of Indianapolis. It handles owner exits, family succession, management buyouts and corporate carve-outs, keeps management in place and lets owners hold on to a meaningful stake. Both strategies target business services, consumer products, healthcare services, manufacturing and value-added distribution.

Recent deals

Announced in the 24 months before October 27, 2026.

DateCompanyTypeSectorSource
2026JOTS RentalJunior capital for a Longview, TX provider of portable restrooms, roll-off dumpsters and site service rentalsInvestmentEnvironmental & WasteSource
2026KCI TelecommunicationsJunior capital for a North Carolina telecom network construction and maintenance contractorInvestmentConstruction ServicesSource
2026LifeWorxJunior capital for a New York private-pay home care and elder care providerInvestmentHealthcare ServicesSource
2026Magdou HealthJunior capital for a Texas radiology operations and staffing companyInvestmentHealthcare ServicesSource
2026Sun SupplyJunior capital for a Portland, OR distributor of sign and graphics materialsInvestmentDistributionSource
Jul 2025Affordable Garage DoorsIndiana and Illinois garage door dealer and service company added to A.S.A.P. Garage Door Repair, a control equity platformAdd-onSource
Apr 2025ALM PositionersBought with Altus Capital Partners and management; Rock Island, IL maker of automated positioning equipment for welding and assemblyInvestmentIndustrial & ManufacturingSource
2025Regency ElectricJunior capital for a Colorado electrical contractor serving data centers, labs and secure facilitiesInvestmentHVAC, Plumbing & ElectricalSource
2025North American Lawn and LandscapeJunior capital for a Charlotte commercial landscaping, irrigation and stormwater services companyInvestmentLandscapingSource
2025Steadfast AllianceJunior capital for a Tampa commercial landscape installation and maintenance companyInvestmentLandscapingSource
2025Armada AnalyticsJunior capital for a South Carolina commercial real estate services firm focused on multifamilyInvestmentSource
2025Sightline ServicesJunior capital for a Houston signage products and services providerInvestmentSource
2025Honey Smoked FishJunior capital for a Denver maker of branded ready-to-eat fish productsInvestmentConsumer & FoodSource
2025SophistiplateJunior capital for a Georgia brand of designer disposable and reusable tablewareInvestmentConsumer & FoodSource

Portfolio by sector

From the firm's portfolio page S5.

Control Equity: Business Services

  • A.S.A.P. Garage Door Repair

Control Equity: Healthcare

  • Dental Alliance Group

Junior Capital: Business Services

  • Amplifi
  • Armada Analytics
  • BCD International
  • BlueAlly Technology Solutions
  • Business Solution Partners
  • Force Management
  • GRIT Infrastructure
  • Highdive
  • JOTS Rental
  • KCI Telecommunications
  • North American Lawn and Landscape
  • Rapid Prep
  • Regency Electric
  • Royalty Companies
  • Sightline Services
  • Steadfast Alliance

Junior Capital: Business Services / Consumer Products / Value-added Distribution

  • Shamrock Group

Junior Capital: Consumer Products

  • California Cheap Skates (CCS)
  • EastPoint Sports
  • Eden Brothers
  • Indigo Wild, LLC
  • Kind Water Systems
  • RuffleButts
  • TruBlue Technologies

Junior Capital: Consumer Products / Manufacturing

  • Honey Smoked Fish
  • Sophistiplate
  • Three Dog Bakery

Junior Capital: Consumer Products / Value-added Distribution

  • Flat River

Junior Capital: Healthcare

  • Aspire Allergy & Sinus
  • LifeWorx
  • Magdou Health
  • P1 Dental Partners
  • Synergy IOM

Junior Capital: Healthcare / Manufacturing

  • Keystone Foam Corp.

Junior Capital: Healthcare / Value-added Distribution

  • Surgery Stuff

Junior Capital: Manufacturing

  • Air Innovations
  • ALM Positioners
  • DuraMark Technologies
  • Heartland Steel Products
  • North American Kitchen Solutions
  • Pinnacle X-Ray Solutions
  • Ska Fabricating
  • Unix Packaging/WGP
  • WF Cabinetry

Junior Capital: Manufacturing / Value-added Distribution

  • Euro Motorparts Group
  • Full Tilt Performance

Junior Capital: Value-added Distribution

  • American Equipment Holdings
  • Century Drill & Tool
  • Collision Auto Parts
  • Sun Supply

Greymont’s take

How Centerfield Capital Partners fits a seller

For a Midwest owner with $1.5 million to $5 million of EBITDA who wants to sell control but stay involved, Centerfield Equity is a sensible fit. It says it does not want to replace management, likes key managers to invest alongside it, lets owners keep a significant stake for a second payday, and usually holds for five to seven years. Its control portfolio is small, two companies bought in 2024, and it adds to them, as with Affordable Garage Doors in July 2025.

Owners who want to keep control can use the junior capital side for a recapitalization, growth money or a partner buyout. An owner should ask which strategy would lead the deal and, for junior capital, what the debt terms and repayment schedule would be.

Questions owners ask

Does Centerfield buy companies outright?

Yes, through its control equity strategy, which buys founder-owned lower middle market companies with $1.5 million to $5 million of EBITDA, mostly in the Midwest. Its larger junior capital business invests without taking control.

What does Centerfield's junior capital look like?

It provides subordinated debt plus common and preferred equity, typically $7 million to $40 million per deal, for US companies with $3 million to $15 million of EBITDA, often alongside private equity or independent sponsors.

Does the owner keep a stake after a Centerfield control deal?

Centerfield says owners can keep significant ownership after closing for a second bite at the apple, and it prefers key managers to invest alongside it. Its typical hold is five to seven years.

Has Centerfield invested in waste or portable sanitation companies?

Yes. Its portfolio page lists JOTS Rental, a Longview, Texas provider of portable restrooms, roll-off dumpsters and holding tanks, as a 2026 junior capital investment.

Sources

  1. S1Centerfield Capital Partners home page (office, funds, capital raised, platform count) Accessed October 27, 2026
  2. S2Centerfield Capital Partners: About Accessed October 27, 2026
  3. S3Centerfield Capital Partners: Control Equity criteria Accessed October 27, 2026
  4. S4Centerfield Capital Partners: Junior Capital criteria Accessed October 27, 2026
  5. S5Centerfield Capital Partners: Portfolio (current and exited, by strategy and investment year) Accessed October 27, 2026
  6. S6Altus Capital Partners Together With Centerfield Capital and ALM Management Acquire ALM Positioners (April 7, 2025) Accessed October 27, 2026
  7. S7Transaction between Affordable Garage Doors and A.S.A.P. Garage Door Repair (July 28, 2025) Accessed October 27, 2026
  8. S8JOTS Rentals home page (portable restrooms, roll-off dumpsters, holding tanks) Accessed October 27, 2026

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

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