Lower middle market private equity firm
Charter Oak Equity
- HeadquartersWestport, CT S7
- Founded2006 S5
- Websitecharteroak-equity.com
- Last verifiedNovember 5, 2026
At a glance
| Deal types | Platform, Add-on S2 |
|---|---|
| Sectors | Industrial & Manufacturing, Healthcare Services, Accounting & Professional Services |
What Charter Oak Equity buys
Charter Oak Equity is a Westport, Connecticut firm that makes control investments in privately held, often family-owned companies and in non-core divisions of larger companies. It sizes deals by enterprise value, from $25 million to $150 million, and publishes no EBITDA or revenue range. Target areas include packaging, chemicals, medical devices, niche industrial, metal processing, pharmaceutical-related businesses, value-added distribution, specialty financial services and business services. Counting its predecessor funds, which date to 1992, it reports more than $500 million invested in 30 companies through over 50 acquisitions.
It only pursues deals where it can take control, and it wants an established company with a record of profits, so start-ups and turnarounds are out. New platforms are infrequent. Three companies are current: LicaFlex Packaging, CGA Holdings and MP Design Group, an architecture and engineering firm it backed with Mereo Capital Partners in June 2026. MP Design falls under business services, a step away from its usual niche manufacturers. A smaller company would most likely meet Charter Oak as an add-on to one of those three.
Recent deals
Announced in the 24 months before November 5, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jun 2026 | MP Design GroupJoint investment with Mereo Capital Partners in a Biloxi architecture, engineering and surveying firm; David Machado stays as CEO | Platform | Accounting & Professional Services | Source |
Portfolio by sector
From the firm's portfolio page S4.
Business Services
- MP Design Group
Medical Products & Services
- CGA Holdings
Packaging
- LicaFlex Packaging
Greymont’s take
How Charter Oak Equity fits a seller
Charter Oak suits an owner of an established, profitable company, especially in niche manufacturing, packaging or home health, who is ready to give up control but wants the management team to stay and share in the result. Its partners say they put their own money into every deal and invite managers to invest too. They do not aim to run the company, though they get hands-on when a business meets a problem its team has not faced before.
The firm adds new platforms rarely: its site shows one in 2022 and one in 2026. It has also often invested alongside another firm, as it did with Mereo at MP Design Group. An owner should ask who holds control and board seats when two investors share a deal, and how much time a four-person team can give the company.
Questions owners ask
What size company does Charter Oak Equity buy?
It looks for companies with an enterprise value of $25 million to $150 million. Its site gives no EBITDA or revenue range, so enterprise value is the only published size test.
Will Charter Oak take a minority stake?
Its criteria say it only pursues deals where it can take a control position. The June 2026 MP Design Group investment was shared with Mereo Capital Partners, and the release does not give either firm's stake.
How does MP Design Group fit a firm known for manufacturing?
It is a departure from most past holdings, which were niche manufacturers and packaging companies. Business services is one of its listed target areas, though, and the release points to a fragmented market, which matches its stated interest in consolidation.
Who runs MP Design Group now?
David Machado stays on as chief executive and works with the investors on the plan. The company intends to grow on its own, widen its territory and selectively make acquisitions.
Sources
- S1Charter Oak Equity home page Accessed November 5, 2026
- S2Charter Oak Equity: Investment Criteria Accessed November 5, 2026
- S3Charter Oak Equity: Working With Us Accessed November 5, 2026
- S4Charter Oak Equity: Investments Accessed November 5, 2026
- S5Charter Oak Equity: Management Team Accessed November 5, 2026
- S6Charter Oak Equity: News Accessed November 5, 2026
- S7Charter Oak Equity: Contact Accessed November 5, 2026
- S8Mereo and Charter Oak Equity Announce Joint Investment in MP Design Group (June 9, 2026) Accessed November 5, 2026
- S9CGA Holdings home page 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 Oak Equity. Figures are as reported on the dates shown and may have changed. Request a correction