Junior capital investor (SBIC, debt and equity)
Charter Growth Capital
- HeadquartersGrand Rapids, MI S6
- Websitechartercapitalpartners.com
- Last verifiedNovember 5, 2026
At a glance
| Latest fund | Charter Growth Capital Fund II, $111M (Mar 2025) S4 |
|---|---|
| EBITDA range | $1.5M+ S2 |
| Check size | $2M to $8M S2 |
| Deal types | Minority, Growth S2 |
| Geography | Great Lakes region S4 |
| Sectors | Healthcare Services, Industrial & Manufacturing, Distribution, Transportation & Logistics, HVAC, Plumbing & Electrical, Landscaping, Consumer & Food |
What Charter Growth Capital buys
Charter Growth Capital is a Grand Rapids, Michigan junior capital investor. It usually does not buy a company outright. It backs owners, management teams and independent sponsors with non-senior debt and equity, in a mix of up to half and half, for growth, succession, recapitalizations and buyouts. It says it can take a minority or a majority position. Its $111 million Fund II closed in March 2025 with an SBIC license.
Fund II looks for at least $1.5 million of EBITDA, margins above 10%, a proven business model and strong growth prospects, and it puts in $2 million to $8 million. It prefers the Great Lakes, though holdings reach Florida, New York and Arizona. Its low EBITDA floor can suit a company too small for many funds. An owner may also meet it beside a sponsor, as at PractiVet, where Chinook Investment Partners made the growth investment.
Recent deals
Announced in the 24 months before November 5, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| April 2026 | PractiVetScottsdale, Arizona veterinary infusion device supplier; Chinook Investment Partners made the growth investment and Charter lists it in Fund II | Investment | Source | |
| Mar 2025 | Charter Growth Capital Fund IIFinal close at $111 million, above its $100 million target, alongside a new SBIC license | Fund close | Source |
Portfolio by sector
From the firm's portfolio page S3.
Charter Growth Capital Fund
- All Star Driver Education
- First Coast Mulch
- Innoplast
- Keystone Solutions Group
- Malley's Chocolates
- Mitten Fluidpower
Charter Growth Capital Fund II
- Arctos Healthcare Holdings
- Byers Pharmacy
- Charthouse Holdings
- C&N Mechanical
- Concierge Landscaping Holdings
- DGD Foods
- Duo-Gard
- MainStage Theatrical Supply
- PractiVet
- Schepers Irrigation
- Team Triage
- Versatile Fabrication
Legacy Funds/SPEs
- Ablative Solutions
- Grand River Aseptic Manufacturing
- Papa's Pilar
- Rim Guard
Greymont’s take
How Charter Growth Capital fits a seller
Charter suits a Great Lakes owner with a smaller, profitable business who wants growth money or a succession plan and does not want a large fund taking over. Keystone Solutions, its first deal in 2019, was a minority investment that funded growth with the existing president still in place. It also suits a sale to an independent sponsor, as at Mitten Fluidpower, where Charter's equity and subordinated debt backed North Iron Holdings.
Remember that part of the money is debt the company must carry. Ask what the split between debt and equity will be, what the interest and repayment terms are, and whether Charter would hold a minority or a majority stake. Since its M&A advisers moved to KSM in January 2026, it is now only an investor, so it will not also advise on a sale.
Questions owners ask
Does Charter Growth Capital buy companies outright?
Usually not. It provides non-senior debt and equity, up to half and half, to owners and independent sponsors. Its criteria allow minority or majority positions, and a January 2026 release calls it a mezzanine debt and minority equity fund.
Is Charter Growth Capital the same as the Charter investment bank in Grand Rapids?
No longer. Charter Capital Partners' M&A advisory team joined KSM in January 2026 as KSM Corporate Finance. Charter Growth Capital was not part of that deal and remains independent under its three partners.
How small a company will Charter Growth Capital back?
Fund II looks for at least $1.5 million of EBITDA and margins above 10%, and it invests $2 million to $8 million per company, with a preference for the Great Lakes.
Sources
- S1Charter Growth Capital home page Accessed November 5, 2026
- S2Charter Growth Capital: Investment Criteria Accessed November 5, 2026
- S3Charter Growth Capital: Portfolio Companies Accessed November 5, 2026
- S4Charter Growth Capital Secures SBIC License & Closes $111M Fund II (March 10, 2025) Accessed November 5, 2026
- S5KSM Launches Investment Banking Practice With Addition of Charter Capital Partners' Investment Banking Team (January 20, 2026) Accessed November 5, 2026
- S6Charter Growth Capital: About Us Accessed November 5, 2026
- S7Charter Growth Capital Fund Invests in Mitten Fluidpower (January 18, 2023) Accessed November 5, 2026
- S8Keystone Solutions eyes continued growth with Charter Growth Capital investment (October 13, 2019) Accessed November 5, 2026
- S9Chinook Investment Partners home page (PractiVet entry, investment date April 2026) Accessed November 5, 2026
- S10Charter: News & Insights Accessed November 5, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Charter Growth Capital. Figures are as reported on the dates shown and may have changed. Request a correction