Lower middle market private equity firm
Eureka Equity Partners
Formerly Eureka Growth Capital
- HeadquartersPhiladelphia, PA S8
- Founded2004 S2
- Websiteeurekaequity.com
- Last verifiedOctober 20, 2026
At a glance
| Latest fund | Eureka IV, L.P., $200M (Oct 2020) S5 |
|---|---|
| Revenue range | Up to $100M S2 |
| Check size | Up to $40M S2 |
| Deal types | Platform, Add-on, Minority, Growth S2 |
| Sectors | Accounting & Professional Services, Construction Services, Education, Healthcare Services, Industrial & Manufacturing |
What Eureka Equity Partners buys
Eureka Equity Partners is a Philadelphia private equity firm, called Eureka Growth Capital until 2018, that backs niche market leaders at the small end of the middle market. It looks for companies with up to $100 million of revenue in four areas: business services, healthcare services, specialty industrials and consumer. It puts in up to $40 million of equity per deal, and its limited partners can add more through co-investment. Most deals are buyouts that leave the management team with a real ownership stake, but Eureka also takes minority positions and provides growth equity.
Typical situations include buying out passive or outside shareholders, succession for family and founder-owned companies, corporate carve-outs, and backing a proven executive who wants to buy a platform. Its most recent fund, Eureka IV, closed in 2020 with just over $200 million. Current holdings include Synergi, a feature staircase builder, LegalPartners Group, CCA Floors & Interiors and iPEC Coaching. A smaller company could also join one of these as an add-on, as Alpine Group did with Synergi in January 2026.
Recent deals
Announced in the 24 months before October 20, 2026.
Portfolio by sector
From the firm's portfolio page S3.
Accounting & Professional Services
- Advertiser Perceptions
- LegalPartners Group
Construction Services
- CCA Floors & Interiors
- Synergi
Education
- iPEC Coaching
Other
- Blueprint NYC
- UTC Retail
Past investments: MedForce, FlexManage
Greymont’s take
How Eureka Equity Partners fits a seller
Eureka suits an owner of a company with under $100 million of revenue who wants a first institutional partner and plans to keep a strong management team in place. Its deals give the operators a meaningful ownership stake, so it fits owners who want their leaders to share in the upside, and families working through succession. It is a small firm that invests from modest funds and does only a few deals a year: its newsroom shows two transactions in the last 24 months, the MedForce sale in February 2025 and Synergi's Alpine add-on in January 2026.
Owners should ask how much capital is left in Fund IV or whether a new fund is coming, since Fund IV closed in 2020 and the last new platform announced on the site was in 2023. It is also worth asking how Eureka plans its exits; MedForce went to a strategic buyer.
Questions owners ask
Did Eureka Equity Partners used to have a different name?
Yes. The firm operated as Eureka Growth Capital until June 2018, when it adopted the Eureka Equity Partners name and moved to the eurekaequity.com website. It said the new name better reflected its partnership approach.
What size company does Eureka look for?
Its criteria call for growth-oriented or niche-leading companies with up to $100 million of revenue. It invests up to $40 million of equity per deal, with more available from co-investing limited partners.
Will Eureka take a minority stake?
Yes. Control buyouts are its main approach, but its mandate also covers non-control deals for family succession and minority growth equity that can fund acquisitions or expansion or give a founder some liquidity.
Does management keep a stake after a Eureka deal?
That is central to how the firm invests. Eureka says it structures its buyouts so that the executives running the business own a meaningful share alongside the firm.
Sources
- S1Eureka Equity Partners home page Accessed October 20, 2026
- S2About Eureka: investment philosophy and focus Accessed October 20, 2026
- S3Eureka Equity Partners: current portfolio Accessed October 20, 2026
- S4Eureka Growth Capital Announces Name Change to Eureka Equity Partners (June 15, 2018) Accessed October 20, 2026
- S5Eureka Equity Partners Announces Closing of Fund IV (October 19, 2020) Accessed October 20, 2026
- S6Eureka's Synergi Acquires Alpine Group Ltd. (January 15, 2026) Accessed October 20, 2026
- S7Eureka Equity Partners Announces Sale of MedForce (February 20, 2025) Accessed October 20, 2026
- S8Eureka Equity Partners: contact and office Accessed October 20, 2026
- S9Eureka Equity Partners newsroom Accessed October 20, 2026
- S10Eureka Equity Partners: realized investments Accessed October 20, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Eureka Equity Partners. Figures are as reported on the dates shown and may have changed. Request a correction