Middle market private equity firm investing its partners' own capital
CIC Partners
- HeadquartersDallas, TX S1
- Websitecicpartners.com
- Last verifiedOctober 28, 2026
At a glance
| EBITDA range | $5M to $50M S2 |
|---|---|
| Revenue range | $10M to $500M S2 |
| Check size | $5M to $50M S2 |
| Deal types | Platform, Add-on, Minority, Growth S2 |
| Sectors | Consumer & Food, Industrial & Manufacturing, Construction Services, Distribution |
What CIC Partners buys
CIC Partners is a Dallas private equity firm that invests the personal money of its own team, its operating partners and a group of strategic investors, rather than capital from institutional funds. It backs owner-operators and founders in food, industrial and infrastructure services, and multi-unit consumer businesses, and it has a long history in restaurants and energy. Its stated sweet spot is a growing company with $10 million to $500 million of revenue and $5 million to $50 million of EBITDA.
CIC puts in $5 million to $50 million of equity and will take either a minority or a majority stake. A deal can be growth capital, a recapitalization that gives the owner partial liquidity, or a full buyout. Because it is not working against a fund deadline, it says it has no fixed date to sell. Recent activity includes the February 2026 launch of Keep It REAL Foods, which brought together five founder-led food makers, and the March 2025 add-on of Clearwater Engineering to its Precision Aerospace platform.
Recent deals
Announced in the 24 months before October 28, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Feb 2026 | Keep It REAL FoodsNew private label and contract food manufacturing platform that combines five founder-led businesses | Platform | Consumer & Food | Source |
| Feb 2026 | American College of EducationOnline college sold to Bain Capital Double Impact; the deal closed in the fourth quarter of 2025 | Exit | Education | Source |
| Aug 2025 | Willie's Grill & IcehouseTexas fast casual restaurant chain sold; the deal closed in the second quarter of 2025 | Exit | Consumer & Food | Source |
| Mar 2025 | CraftMark BakeryAgreement to sell the frozen bakery supplier, built from scratch in 2013, to One Equity Partners | Exit | Consumer & Food | Source |
| Mar 2025 | Clearwater EngineeringKansas aerospace machining shop added to Precision Aerospace Holdings; its leadership team stays | Add-on | Industrial & Manufacturing | Source |
| Dec 2024 | McClancy Foods & FlavorsSold to NovaTaste; the CEO and leadership team stay and keep significant ownership | Exit | Consumer & Food | Source |
Portfolio by sector
From the firm's portfolio page S4.
Energy
- CIC Minerals
- RMX Resources
Food
- Keep It REAL Foods
- Packline Solutions Group
Industrial
- NADAtech
- Precision Aerospace
- TSU One
Restaurant & Retail
- Tiff's Treats
Past investments: American College of Education
Greymont’s take
How CIC Partners fits a seller
CIC fits an owner-operator who wants a capital partner but plans to keep running the business. The firm says management should run its companies day to day while CIC works through the board, and it often pairs a company with one of its operating partners, many of whom are former CEOs. When it sold McClancy Foods & Flavors in December 2024, the CEO and leadership team stayed in their roles and kept significant ownership.
Because CIC invests its partners' own money, it can offer a minority deal and a more patient hold than a typical fund. Its American College of Education investment ran about five years, from a 2020 buyout to a sale in late 2025. Owners should ask whether CIC would take a minority or a majority stake in their case, which operating partner would be involved, and how the firm thinks about the timing of an eventual sale.
Questions owners ask
What size companies does CIC Partners invest in?
Its investment parameters list companies with $10 million to $500 million of revenue and $5 million to $50 million of EBITDA, with CIC putting $5 million to $50 million of equity into each.
Will CIC Partners take a minority stake?
Yes. It says it can buy all of a company or invest as a minority partner, and it offers growth capital, recapitalizations that give owners partial liquidity, and full buyouts.
Whose money does CIC Partners invest?
CIC says it invests the personal capital of its investment team, operating partners and strategic investors rather than money from institutional investors, so no fund deadline forces it to sell.
What has CIC Partners sold recently?
Recent exits include McClancy Foods & Flavors to NovaTaste in December 2024, an agreement to sell CraftMark Bakery to One Equity Partners in March 2025, Willie's Grill & Icehouse in 2025, and American College of Education to Bain Capital Double Impact.
Sources
- S1CIC Partners home page Accessed October 28, 2026
- S2CIC Partners: Investment Parameters Accessed October 28, 2026
- S3CIC Partners: Investment Strategy Accessed October 28, 2026
- S4CIC Partners: Current Investments Accessed October 28, 2026
- S5CIC Partners: Realized Investments Accessed October 28, 2026
- S6Keep It REAL Foods Launches Manufacturing Platform (February 26, 2026) Accessed October 28, 2026
- S7CIC Partners Celebrates Successful Partnership and Growth of American College of Education (February 3, 2026) Accessed October 28, 2026
- S8CIC Partners Announces Sale of McClancy Foods & Flavors (December 10, 2024) Accessed October 28, 2026
- S9CIC Partners: News for 2025 Accessed October 28, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with CIC Partners. Figures are as reported on the dates shown and may have changed. Request a correction