Enceladus Partners: Buy Box & Recent Acquisitions

At a glance

Assets under management	$70M (as of Aug 2026) S3
Revenue range	$10M to $200M S3
Check size	$5M to $50M S3
Deal types	Platform, Add-on S2
Sectors	Construction Services, Distribution, Industrial & Manufacturing, Consumer & Food

What Enceladus Partners buys

Enceladus Partners is a Princeton, New Jersey family office that invests in founder-, family- and management-owned businesses in the lower middle market. Its August 2026 overview targets companies with $10 million to $200 million of annual revenue and investments of $5 million to $50 million. It puts money to work from a family office with about $70 million of assets, alongside a network of limited partners and a wealth management partner, and it also works with independent sponsors. Each of its current companies came through a recapitalization with a founder, co-founders or a second-generation owner, and each is pursuing add-ons.

Its focus is industrial and service businesses: automation equipment, aftermarket products, business services, niche industrial products, flow control, industrial and infrastructure services, infrastructure and building products, and packaging and printing. The current companies are Smith Excavating, a utility and pipeline maintenance contractor; Major Turbine Pump & Supply, a water pump distributor and repair shop; Embarq Creative, a trade show exhibit company; and DS18, a maker of mobile audio equipment.

Recent deals

Announced in the 24 months before October 28, 2026.

Date	Company	Type	Sector	Source
May 2026	Major Turbine Pump & SupplyDublin, Georgia water pump distributor and repair business, bought in partnership with founder Wayne Grosch and his management team	Platform	Distribution	Source
Feb 2026	Embarq CreativeCollegeville, Pennsylvania trade show exhibit and event company, in partnership with its two founders	Platform		Source
Dec 2025	Smith ExcavatingWinston-Salem right-of-way vegetation management and utility infrastructure maintenance contractor, bought from its second-generation family owner; the seller's advisor dates the close to February 2025	Platform	Construction Services	Source

Portfolio by sector

From the firm's portfolio page S2.

Current Partnerships

Smith Excavating
Major Turbine Pump & Supply
Embarq Creative
DS18

Past investments: Allentown, All American Label and Packaging, Aftermarket Performance Group, CMI Limited, FXI, M&Q Holdings, Roll-Rite, Sun World International

Greymont’s take

How Enceladus Partners fits a seller

Enceladus suits a founder or family that wants to sell part or all of a business to a small team that has run companies as well as invested in them. One partner is the former owner and CEO of Allentown, a family business the team helped grow, and the firm openly courts owners planning a succession. Every current company was a recapitalization alongside the founder or family, so owners should expect to keep some ownership and often a role at first.

The firm is young. It formally launched in July 2023, Smith Excavating closed in February 2025, and Embarq Creative and Major Turbine followed in 2026. The $1.5 billion and 85 transactions it cites come from the team's earlier careers, and some listed companies were owned by other sponsors. Owners should ask how much equity Enceladus can commit itself, how much comes from partners, and who will lead add-on work after closing.

Questions owners ask

What size companies does Enceladus Partners look for?

Its August 2026 overview targets businesses with $10 million to $200 million of annual revenue and investments of $5 million to $50 million per company. It does not publish an EBITDA range.

Is Enceladus Partners a private equity fund?

No. It describes itself as a family office that invests its own capital together with a network of limited partners, and its overview says it also partners with independent sponsors.

Does Enceladus buy add-ons for its companies?

Yes. Its site and overview say Smith Excavating and Embarq Creative are pursuing add-ons in the Eastern U.S., Major Turbine in the Mid-South and Southeast, and DS18 across the U.S. and abroad.

Sources

S1Enceladus Partners home page Accessed October 28, 2026
S2Enceladus Partners: Partnerships Accessed October 28, 2026
S3Enceladus Partners investment tearsheet (dated August 31, 2026) Accessed October 28, 2026
S4Enceladus Partners: Contact Us (headquarters address) Accessed October 28, 2026
S5Enceladus Partners Steps Forward with a Fresh Take on Investment and Partnership (July 13, 2023) Accessed October 28, 2026
S6Generational Group: Smith Excavating, LLC Acquired by Enceladus Partners (transaction page, February 2025) Accessed October 28, 2026
S7Enceladus Partners: Smith Excavating Accessed October 28, 2026
S8Enceladus Partners: DS18 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 Enceladus Partners. Figures are as reported on the dates shown and may have changed. Request a correction