Cogenuity Partners: Buy Box & Recent Acquisitions

At a glance

Latest fund	Cogenuity Fund I, $425M (Jan 2025) S2
EBITDA range	$5M to $35M S1
Revenue range	Up to $250M S1
Check size	$20M to $200M S1
Deal types	Platform, Add-on S3
Geography	North America S1
Sectors	Industrial & Manufacturing

What Cogenuity Partners buys

Cogenuity Partners is a San Francisco private equity firm founded in 2024 by Dan Delaney, whose senior partners came from firms including Industrial Growth Partners. It invests only in industrial businesses, across four groups: advanced manufacturing (fire and life safety, interconnects, engineered components, pumps and valves), infrastructure solutions (data center, power, utility, water and transportation products and services), industrial technology (automation, sensors, remote monitoring) and critical industrial services (testing and inspection, field and facility services, utility services, environmental work). Its operations team works with management from the first day.

For a new platform, Cogenuity looks for a company headquartered in North America with up to $250 million of revenue and $5 million to $35 million of EBITDA, and it invests $20 million to $200 million of equity. Its first fund, Cogenuity Fund I, has $425 million of commitments. It has bought four platforms and three add-ons so far. A company below $5 million of EBITDA is most likely to fit as an add-on, the way Aero Electronics joined Interconnect Solutions Company in August 2026.

Recent deals

Announced in the 24 months before October 27, 2026.

Date	Company	Type	Sector	Source
Aug 2026	Aero ElectronicsTitusville, FL maker of military and aerospace cable assemblies and wire harnesses added to Interconnect Solutions Company	Add-on	Industrial & Manufacturing	Source
Mar 2026	Reacton (Fire Suppression Solutions Limited)UK fire suppression systems maker recapitalized by United Safety in partnership with its founders	Add-on	Industrial & Manufacturing	Source
Sep 2025	Interconnect Solutions CompanyFountain Valley, CA maker of custom cable assemblies and harnesses, bought from Tide Rock; fourth Fund I platform	Platform	Industrial & Manufacturing	Source
Aug 2025	EverLineHouston provider of compliance, SCADA, control center and cybersecurity services for pipelines and utilities; third Fund I platform	Platform		Source
Jul 2025	Tech Tube and Tube MethodsPennsylvania small-diameter metal tubing makers; the owning family kept a substantial stake and stayed active	Platform	Industrial & Manufacturing	Source
May 2025	Dafo Vehicle Fire ProtectionSwedish vehicle fire suppression maker added to United Safety & Survivability Corporation	Add-on	Industrial & Manufacturing	Source
Jan 2025	Cogenuity Fund IDebut fund closed with $425 million of commitments	Fund close		Source

Portfolio by sector

From the firm's portfolio page S1.

Industrial & Manufacturing

United Safety & Survivability Corporation
Tech Tube and Tube Methods
Interconnect Solutions Company

Other

EverLine

Greymont’s take

How Cogenuity Partners fits a seller

Cogenuity fits owners of engineered products makers and specialized industrial service companies that already earn at least $5 million of EBITDA, or smaller firms that could plug into one of its platforms in fire suppression, metal tubing, cable assemblies or pipeline and utility compliance services. It buys from families and from other investors: Tech Tube and Tube Methods came from the Johnson family, who kept a substantial stake and stayed active, while ISC was bought from Tide Rock. The 2026 Reacton deal was a recapitalization alongside its founders.

Because the firm and its first fund are new, an owner should ask how long Cogenuity plans to hold Fund I companies, how much equity the owner can roll into the deal, and what its operations team expects to change in the first year.

Questions owners ask

What size companies does Cogenuity look for?

For new platforms it targets North American companies with up to $250 million of revenue and $5 million to $35 million of EBITDA, and it invests $20 million to $200 million of equity.

Can an owner keep a stake after selling to Cogenuity?

Yes. In the July 2025 Tech Tube and Tube Methods deal, owners Brian and Kevin Johnson kept a substantial ownership stake and stayed active, and the March 2026 Reacton deal was a recapitalization with its founders.

How large is Cogenuity's fund?

Its first fund, Cogenuity Fund I, has $425 million of commitments. The firm announced the close in January 2025 after starting to raise the fund the previous August.

Does Cogenuity buy companies outside the United States?

New platforms must be headquartered in North America, but its platforms do buy abroad: United Safety added Dafo Vehicle of Sweden and Reacton of the United Kingdom.

Sources

S1Cogenuity home page (sectors, investment criteria and portfolio) Accessed October 27, 2026
S2Cogenuity Partners Closes Debut Fund with $425 Million in Committed Capital (January 30, 2025) Accessed October 27, 2026
S3Cogenuity: News Accessed October 27, 2026
S4Second Platform Investment with Acquisition of Tech Tube and Tube Methods (July 1, 2025) Accessed October 27, 2026
S5Cogenuity Acquires Interconnect Solutions Company (September 3, 2025) Accessed October 27, 2026
S6United Safety Acquires Reacton Fire Suppression (March 23, 2026) Accessed October 27, 2026
S7Cogenuity Announces Investment in EverLine (August 27, 2025) Accessed October 27, 2026
S8Interconnect Solutions Company Acquires Aero Electronics (August 11, 2026) Accessed October 27, 2026
S9United Safety Acquires Dafo Vehicle Fire Protection (May 8, 2025) 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 Cogenuity Partners. Figures are as reported on the dates shown and may have changed. Request a correction