Family office-backed private investment firm

Falcon Affiliates

At a glance

EBITDA range$3M to $10M S7
Revenue range$20M to $100M S7
Deal typesPlatform, Add-on S7
GeographySoutheast, South, East Coast, Texas, Midwest S7
SectorsHVAC, Plumbing & Electrical, Distribution, Industrial & Manufacturing

What Falcon Affiliates buys

Falcon Affiliates is a private investment firm in Richmond, Virginia, with a second office in Tampa, that invests money from DFG, a family office. It buys business-to-business service companies whose customers rely on them, plus value-added distributors and light manufacturers. Its latest criteria, from June 2026, call for $20 million to $100 million of revenue and $3 million to $10 million of EBITDA, with no minimum for add-ons, in the Southeast, the South, the East Coast, Texas and the Midwest. Deals can be management buyouts, recapitalizations that give owners cash, succession plans or corporate carve-outs.

Falcon keeps only a few companies at a time, and management keeps day-to-day control. Its current holdings are Melink, an Ohio HVAC test-and-balance and commissioning firm bought with its executives in December 2024; Century Linen, a healthcare and commercial linen service in New York and New England; and Tidewater Fleet Supply, a truck and heavy equipment parts distributor. Its 2026 target list adds data center maintenance, access control, power services, environmental services and water management, and commercial laundry.

Recent deals

Announced in the 24 months before November 2, 2026.

DateCompanyTypeSectorSource
Dec 2024Melink CorporationOhio HVAC test-and-balance, commissioning and energy efficiency services firm bought with its executive team; Merion Investment Partners added subordinated debt and equityPlatformHVAC, Plumbing & ElectricalSource

Portfolio by sector

From the firm's portfolio page S4.

Distribution

  • Tidewater Fleet Supply (with TNT Parts)

HVAC, Plumbing & Electrical

  • Melink

Other

  • Century Linen & Uniform

Past investments: Trilogy Communications, RGA

Greymont’s take

How Falcon Affiliates fits a seller

Falcon suits the owner of a B2B service business that customers cannot do without, or of a distributor or light manufacturer, who wants a hands-on partner with only a few companies to watch over rather than a large fund. Because it invests family office money, it can be flexible on structure, and its deals have included management buyouts and recapitalizations that let owners take cash off the table. At Melink, the executive team bought the company alongside Falcon.

Its press room shows two new platforms since 2022, Century Linen and Melink, so new deals are infrequent. An owner should ask how Falcon would fund the purchase (Melink used outside senior debt plus subordinated debt and equity from Merion), how long the family office plans to hold, and whether the business would be a new platform or an add-on to Melink, Century Linen or Tidewater.

Questions owners ask

What size companies does Falcon Affiliates buy?

Its June 2026 criteria call for companies with $20 million to $100 million of revenue and $3 million to $10 million of EBITDA. It sets no minimum size for add-on acquisitions.

Where does Falcon Affiliates invest?

Its June 2026 criteria list the Southeast, the South, the East Coast, Texas and the Midwest. The firm has offices in Richmond, Virginia and Tampa, Florida.

Does management stay in place after Falcon invests?

Yes. Falcon says management keeps day-to-day operating control while Falcon helps set strategy. Melink was acquired by Falcon in partnership with Melink's executive management team in December 2024.

Which industries is Falcon targeting now?

Its 2026 target areas are commercial testing and inspection, HVAC test and balance and commissioning, access control, data center maintenance, outsourced power services, environmental services and water management, heavy truck parts, pumps and valves, and commercial laundry.

Sources

  1. S1Falcon Affiliates home page (offices) Accessed November 2, 2026
  2. S2Falcon Affiliates: Investment Criteria Accessed November 2, 2026
  3. S3Falcon Affiliates: Target Areas Accessed November 2, 2026
  4. S4Falcon Affiliates: Selected Current and Prior Investments Accessed November 2, 2026
  5. S5Falcon Affiliates: Press Room Accessed November 2, 2026
  6. S6Melink Corporation Acquired by Falcon Affiliates and Melink's Executive Management Team (December 11, 2024) Accessed November 3, 2026
  7. S7Falcon Affiliates Q2 Updates and New Hires newsletter, linked from the firm's press room (June 2026) Accessed November 3, 2026
  8. S8Falcon Affiliates New Year newsletter with portfolio updates, linked from the firm's press room (January 2026) Accessed November 3, 2026
  9. S9Falcon Affiliates: Investment Strategy Accessed November 2, 2026

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

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