Independent sponsor
Hunter Forest Capital
- Websitehunterforestcapital.com
- Last verifiedOctober 28, 2026
At a glance
| EBITDA range | $2M to $20M S2 |
|---|---|
| Revenue range | $2M to $100M S2 |
| Deal types | Platform, Add-on S2 |
| Geography | United States, Canada S2 |
| Sectors | Accounting & Professional Services, Construction Services, Industrial & Manufacturing |
What Hunter Forest Capital buys
Hunter Forest Capital was started by a group of former operators and finance executives, joined by an M&A lawyer, to take majority stakes in owner-run companies that have never had an institutional investor. It looks for $2 million to $100 million of revenue and $2 million to $20 million of EBITDA, and it will go as low as $0.5 million of EBITDA for small tack-on deals. Target fields are architecture and engineering, other professional services, fire and life safety, industrial services, water products and services, air and water pollution control, medical products and manufacturing, in the U.S. and Canada. It buys directly from owners and wants them to stay with the business.
So far its one platform is Agathos AEC, formed in February 2026 with Plump Engineering and JMPE and since joined by Peterson Engineering and Tecton Architects. Agathos runs finance, HR, legal, IT and other back-office work so each design firm can keep its name and focus on clients. Its usual add-on is a design firm with roughly $0.5 million to $5 million of EBITDA.
Recent deals
Announced in the 24 months before October 28, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Aug 2026 | Tecton ArchitectsHartford, CT architecture, interior design and planning firm added to Agathos AEC; its principals reinvested and keep leading the firm | Add-on | Accounting & Professional Services | Source |
| Jun 2026 | Peterson EngineeringPensacola, FL mechanical, plumbing and fire protection engineering firm added to Agathos AEC | Add-on | Accounting & Professional Services | Source |
| Feb 2026 | Agathos AEC (Plump Engineering)New architecture and engineering platform formed around Plump Engineering of Anaheim, CA | Platform | Accounting & Professional Services | Source |
| Feb 2026 | JMPE Electrical EngineeringSanta Barbara, CA electrical and lighting design firm acquired as Agathos AEC was formed | Add-on | Accounting & Professional Services | Source |
Portfolio by sector
From the firm's portfolio page S3.
Agathos AEC firms
- Plump Engineering
- JMPE Engineering
- Peterson Engineering
- Tecton Architects
Architecture & Engineering Services
- Agathos AEC
Greymont’s take
How Hunter Forest Capital fits a seller
Hunter Forest fits the owner of an architecture, engineering or similar professional services firm who wants to keep leading the practice but hand off the back office. Agathos lets each firm keep its name. At Tecton, the three executive principals still run the firm from the same offices, invested in Agathos as part of the deal, and Hunter Forest said no layoffs were planned. This is the firm's first platform, and the Tecton deal was backed by four outside capital partners and a bank. An owner should ask who controls Agathos, how any reinvested equity is valued, and when the investors expect to sell. Owners in its other target fields, such as fire and life safety or water services, would likely be a new platform rather than an add-on, so timing and the source of capital are worth raising early.
Questions owners ask
What size companies does Hunter Forest Capital buy?
Its criteria page lists revenue of $2 million to $100 million and EBITDA of $2 million to $20 million, with tack-on acquisitions as small as $0.5 million of EBITDA.
What does Agathos AEC do for the firms that join it?
Agathos provides shared ERP systems and takes on finance, HR, legal, payroll, benefits, taxes and IT, so its architecture and engineering firms can focus on design work and clients.
Do owners stay on after selling to Hunter Forest?
Its criteria call for owners who want to continue with the business. In the August 2026 Tecton deal, the three executive principals kept leading the firm and invested in Agathos.
Sources
- S1Hunter Forest Capital home page Accessed October 28, 2026
- S2Hunter Forest Capital: Criteria Accessed October 28, 2026
- S3Hunter Forest Capital: Companies Accessed October 28, 2026
- S4Hunter Forest Capital: News Accessed October 28, 2026
- S5Hunter Forest Capital: Team Accessed October 28, 2026
- S6JMPE Electrical Engineering Acquired by Agathos AEC, a Portfolio Company of Hunter Forest Capital (Generational Group) Accessed October 28, 2026
- S7Hartford's Tecton Architects acquired by national private equity-backed firm (Hartford Business Journal, August 28, 2026) Accessed October 28, 2026
- S8Agathos AEC: About Accessed October 28, 2026
- S9Agathos AEC: Our Firms 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 Hunter Forest Capital. Figures are as reported on the dates shown and may have changed. Request a correction