Independent sponsor
Glass Lake Holdings
- HeadquartersDallas-Fort Worth, TX S1
- Websiteglasslakeholdings.com
- Last verifiedOctober 28, 2026
At a glance
| EBITDA range | $2M to $10M S1 |
|---|---|
| Deal types | Platform, Add-on S1 |
| Geography | United States S1 |
| Sectors | Construction Services, Healthcare Services, Landscaping, Distribution |
What Glass Lake Holdings buys
Glass Lake Holdings is a small Texas investment team, working from Dallas-Fort Worth and Austin, that buys majority stakes in U.S. service companies. It wants $2 million to $10 million of EBITDA, a simple business model, a record of growth and, ideally, recurring revenue. Its stated focus is business, field and industrial services, technology, value-added distribution and healthcare services, and it says plainly that it does not make venture investments. Both managing partners bought and ran a company before starting the firm: Richmond Alarm, a Virginia security business later sold to Johnson Controls, and RRS Medical, a medical records company in Pennsylvania.
Glass Lake does not invest from a traditional fund. In the October 2025 FSS Technologies deal it acted as the independent sponsor, bringing in Lightview Capital as the equity investor and staying on to help with acquisitions. Its holdings include fire and security services, property restoration, landscaping and behavioral health. A smaller company could meet Glass Lake as a new platform or as an add-on to FSS Technologies.
Recent deals
Announced in the 24 months before October 28, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Mar 2026 | The Fire Group, Inc.Midwest fire sprinkler installation and inspection company with about 80 employees, added to FSS Technologies | Add-on | Construction Services | Source |
| Oct 2025 | FSS TechnologiesFire, security and life safety systems provider; Lightview Capital invested and Glass Lake served as independent sponsor | Platform | Construction Services | Source |
Portfolio by sector
From the firm's portfolio page S2.
Construction Services
- FSS Technologies
- Paul Davis Restoration of Fort Worth
Healthcare Services
- Bio Behavioral
- RRS Medical
Landscaping
- Green Grass Landscaping
Transportation & Logistics
- Big Box Storage
Past investments: Richmond Alarm Company
Greymont’s take
How Glass Lake Holdings fits a seller
Glass Lake suits the owner of a people-heavy service business, such as fire protection, security, restoration or healthcare services, who wants a buyer led by former owner-operators. Both managing partners have run a company of their own, and the firm says it adds to the senior team after closing and looks after existing staff. Because Glass Lake sometimes brings in an outside equity partner, as it did with Lightview Capital at FSS Technologies, the people an owner meets first may not end up as the controlling owner. An owner should ask who will hold the majority stake, who will sit on the board, and how long that partner usually holds a company. Owners of fire and life safety firms in the Midwest may hear from FSS Technologies directly about joining as an add-on.
Questions owners ask
What size company does Glass Lake Holdings look for?
Its website says it looks for U.S. service businesses with $2 million to $10 million of EBITDA, a simple business model and a history of growth, and it likes recurring revenue.
Does Glass Lake Holdings invest alone or with partners?
It works with partners. In the October 2025 FSS Technologies deal, Glass Lake was the independent sponsor and Lightview Capital made the investment, with Glass Lake staying involved in future acquisitions and operations.
Has Glass Lake made add-on acquisitions?
Yes, through FSS Technologies, which bought The Fire Group, a fire sprinkler installation and inspection company serving seven Midwest states, in March 2026.
Sources
- S1Glass Lake Holdings home page Accessed October 28, 2026
- S2Glass Lake Holdings: Our Companies Accessed October 28, 2026
- S3Glass Lake Holdings: Brian Vanderheyden, Managing Partner Accessed October 28, 2026
- S4Glass Lake Holdings: Zack Perry, Managing Partner Accessed October 28, 2026
- S5Lightview Completes Strategic Investment in FSS Technologies (PR Newswire, October 28, 2025) Accessed October 28, 2026
- S6FSS Technologies Acquires The Fire Group (March 30, 2026) Accessed October 28, 2026
- S7Lightview Capital Announces Strategic Investment in FSS Technologies 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 Glass Lake Holdings. Figures are as reported on the dates shown and may have changed. Request a correction