Lower middle market private equity firm

Chimney Rock Equity Partners

At a glance

EBITDA range$5M to $20M S2
Deal typesPlatform, Add-on S2
GeographyNorth America S2
SectorsIndustrial & Manufacturing, Distribution

What Chimney Rock Equity Partners buys

Chimney Rock is an Austin, Texas private equity firm started in 2022 by two partners who spent years investing in industrial companies at Odyssey Investment Partners. It invests only in industrials, in three areas: aerospace and defense, industrial products and services, and niche products and services. Within those it likes aftermarket parts, repair and overhaul work, consumables, testing and inspection, specialty rental and similar businesses that serve a large installed base and have little risk of being disrupted.

For a new platform it looks for a North American company with $5 million to $20 million of EBITDA, a purchase price of up to $250 million, and a deal where it takes control with modest debt. It then grows each platform through acquisitions. Add-ons can be any size, so a smaller business is most likely to meet Chimney Rock by selling to one of its companies, as two family-owned aerospace machine shops did when they joined Aeromax in 2026.

Recent deals

Announced in the 24 months before November 3, 2026.

DateCompanyTypeSectorSource
Oct 2026LoutechChino, California maker of machined aerospace connectors added to Aeromax, its second add-on under Chimney RockAdd-onIndustrial & ManufacturingSource
Sep 2026Russell EquipmentFamily-founded Twinsburg, Ohio source of used material handling equipment, parts and service; the founder stays on the boardPlatformDistributionSource
Apr 2026The Ely CompanyFamily-owned Torrance, California aerospace machine shop added to Aeromax; the owning family keeps running itAdd-onIndustrial & ManufacturingSource
Mar 2026United Electronics CompanyCharleston, South Carolina maker of RF, circuit card and power products for defense and aerospace, bought from Albion RiverPlatformIndustrial & ManufacturingSource
Mar 2026Gas Clip TechnologiesFounder-built Dallas maker of portable gas detectors for industrial workersPlatformIndustrial & ManufacturingSource
Jul 2025Main Light (Nashville operations)Nashville production warehouse and team added to 3G ProductionsAdd-onSource
Apr 2025Switch VideoVideo equipment rental company added to 3G Productions; its leaders stay onAdd-onSource

Portfolio by sector

From the firm's portfolio page S3.

Aerospace & Defense

  • Aeromax
  • United Electronics Company

Industrial Products & Services

  • Gas Clip Technologies
  • K&R Operating
  • Russell Equipment

Niche Products & Services

  • 3G Productions

Greymont’s take

How Chimney Rock Equity Partners fits a seller

Chimney Rock suits owners of industrial and aerospace businesses that sell parts, repairs or services into equipment that is already in the field. A founder with $5 million or more of EBITDA could become a new platform, as the founders of Gas Clip and the Russell family did in 2026. A smaller shop is more likely to be bought as an add-on to a company it already owns, and both Aeromax add-ons kept their owners in charge after the sale.

The firm tends to keep management in place. When it bought 3G Productions in 2024, the managers stayed, the working owners reinvested alongside it and kept their board seats. Because the firm is young and its first holdings date from 2024, an owner should ask how long it expects to hold the business and how it plans to sell it later.

Questions owners ask

What size company does Chimney Rock buy?

For a new platform it targets North American industrial companies with $5 million to $20 million of EBITDA and deal values of up to $250 million. It says it will consider add-on acquisitions of any size for its existing companies.

Which industries does Chimney Rock invest in?

Only industrials. Its three focus areas are aerospace and defense, industrial products and services, and niche products and services, with interest in aftermarket parts, repair and overhaul, specialty rental, testing and inspection and similar work.

Do owners stay involved after a sale to Chimney Rock?

Often, yes. Mike Russell stayed on the board after the September 2026 Russell Equipment deal, the Senff family kept leading Ely after it joined Aeromax, and the 3G Productions owners reinvested and kept their board seats in 2024.

Sources

  1. S1Chimney Rock Equity Partners home page Accessed November 3, 2026
  2. S2Chimney Rock: Investment Focus and Criteria Accessed November 3, 2026
  3. S3Chimney Rock: Portfolio Accessed November 3, 2026
  4. S4Chimney Rock: Team Accessed November 3, 2026
  5. S5Chimney Rock: Press & Media Accessed November 3, 2026
  6. S6Chimney Rock Equity Partners Acquires 3G Productions (October 8, 2024) Accessed November 3, 2026
  7. S7Chimney Rock Equity Partners Invests in Russell Equipment (September 10, 2026) Accessed November 3, 2026
  8. S8Chimney Rock: About Accessed November 3, 2026

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

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