Lower middle market private equity firm
ICV Partners
- HeadquartersMiami, FL S5
- Founded1999 S2
- Websiteicvpartners.com
- Last verifiedOctober 19, 2026
At a glance
| Latest fund | ICV Partners IV, $585M (Jul 2018) S6 |
|---|---|
| Revenue range | $25M to $250M S2 |
| Deal types | Platform, Add-on S7 |
| Sectors | Accounting & Professional Services, Consumer & Food, Healthcare Services, Environmental & Waste, Auto Services & Collision |
What ICV Partners buys
ICV Partners is a lower middle market private equity firm founded in 1999, which its releases describe as based in Miami and Atlanta. It makes control investments in established companies with $25 million to $250 million of revenue. Its stated focus areas are business services, consumer goods and services, food and beverage, and healthcare, and it says it favors essential services that customers cannot easily put off. It often partners with family-owned and founder-led businesses.
Its two most recent announced platforms were Interstate Auto Care, a 26-store Valvoline Instant Oil Change franchisee (September 2024), and Environmental Remedies, a California residential asbestos abatement company (January 2025). The last fund it announced was the $585 million Fund IV, closed in 2018. ICV grows its platforms with add-ons, and both recent platforms plan to expand by acquisition, so a smaller business could meet ICV through one of them. It has announced few deals since early 2025.
Recent deals
Announced in the 24 months before October 19, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jan 2025 | Environmental Remedies (ERI)Significant ownership stake in a California residential asbestos abatement provider serving restoration firms, insurers and homeowners | Platform | Environmental & Waste | Source |
Portfolio by sector
From the firm's portfolio page S4.
Accounting & Professional Services
- Mintz Group
Auto Services & Collision
- Interstate Auto Care
Consumer & Food
- Desi Fresh Foods
- Rockenwagner Bakery
Environmental & Waste
- Environmental Remedies (ERI)
Software & SaaS
- SirsiDynix
Other
- Beacon Global Strategies
- Fleet Optics
- JK&T Wings
- Leading Response
- SG360
- OneTouchPoint
Greymont’s take
How ICV Partners fits a seller
ICV is worth a look for founders of essential service businesses, such as auto maintenance, insurance and restoration work, or business services, who want a control buyer that keeps the founder involved. In the Interstate Auto Care deal the founder moved to a board seat while a new CEO took over daily operations, and ERI's leaders said they picked ICV for its record with family-owned and founder-led companies.
Its holds tend to be long and hands-on: Horizon Air Freight grew revenue about six-fold over roughly five years with ICV before its 2024 sale, and managers who invested alongside ICV shared in the gain. Because ICV has announced few new deals since January 2025 and its last announced fund closed in 2018, an owner should ask how much capital the firm has available now and whether the deal would be a new platform or an add-on.
Questions owners ask
What size companies does ICV Partners buy?
ICV's recent press releases say it makes control investments in companies with $25 million to $250 million of annual revenue, which places it in the lower middle market.
Has ICV invested in auto services or environmental services?
Yes. In September 2024 it took a significant stake in Interstate Auto Care, a Valvoline oil change franchisee with 26 stores, and in January 2025 it backed Environmental Remedies, a California asbestos abatement provider.
Does the founder stay involved after ICV invests?
Often, in some role. At Interstate Auto Care the founder moved to the board while a new CEO ran daily operations, and at Horizon Air Freight the founder's son stayed on as CEO and managers invested alongside ICV.
Sources
- S1ICV Partners news releases on PR Newswire Accessed October 19, 2026
- S2ICV Partners Acquires Leading Residential Asbestos Abatement Service Provider in California (January 27, 2025) Accessed October 19, 2026
- S3ICV Partners Invests in a Leading Valvoline Oil Change Franchisee (September 17, 2024) Accessed October 19, 2026
- S4ICV Partners Announces Lloyd Metz & Zeena Rao as Managing Partners (December 3, 2024) Accessed October 19, 2026
- S5ICV Partners Announces Formation of Desi Fresh Foods (February 21, 2023) Accessed October 19, 2026
- S6ICV Partners exceeds target for Fund IV with a final close on $585 million (July 23, 2018) Accessed October 19, 2026
- S7ICV Partners Announces Successful Exit from Horizon Air Freight (August 27, 2024) Accessed October 19, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with ICV Partners. Figures are as reported on the dates shown and may have changed. Request a correction