Middle market industrial private equity firm
Industrial Growth Partners
- HeadquartersSan Francisco, CA S2
- Founded1997 S1
- Websiteigpequity.com
- Last verifiedOctober 20, 2026
At a glance
| Latest fund | Industrial Growth Partners VI, $1.2B (Aug 2022) S6 |
|---|---|
| Revenue range | Up to $250M S3 |
| Deal types | Platform, Add-on S3 |
| Geography | United States and Canada (platforms), Any location (add-ons) S3 |
| Sectors | Industrial & Manufacturing |
What Industrial Growth Partners buys
Industrial Growth Partners, known as IGP, is a San Francisco firm that has invested only in industrial companies since it started in 1997. It has raised $3.4 billion across six funds and backed more than 50 platforms. IGP wants profitable niche manufacturers, value-added distributors and technical industrial service companies with up to $250 million of revenue and a head office in the United States or Canada. Favored areas include aerospace and defense parts, electrical and power equipment, engineered materials, instruments and controls, filtration and pumps, and medical and safety products.
IGP buys from four kinds of sellers: founders and families who want to cash out part of their stake and keep a meaningful share, corporations selling a non-core division, other private equity owners, and parent companies that want to keep a minority stake in a spun-off unit. It invests from Fund VI, a $1.2 billion fund closed in 2022, and is still adding new platforms. Smaller companies usually meet IGP as add-ons, which the firm says can fall below its platform size and can be located anywhere.
Recent deals
Announced in the 24 months before October 20, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Sep 2026 | Prince & IzantSale of the Cleveland brazing alloy and specialty materials maker to TransDigm for $1.066 billion closed on September 28, 2026 | Exit | Industrial & Manufacturing | Source |
| Aug 2026 | Lamart CorporationCoated and laminated materials maker in Clifton, NJ, bought with the Hirsh family and management | Platform | Industrial & Manufacturing | Source |
| May 2026 | LintrinsIC Semiconductors and Saetta LabsFirst two add-ons for Marki Microwave, adding RF switching and related products | Add-on | Industrial & Manufacturing | Source |
| Dec 2025 | Marki MicrowaveRF and microwave components maker in Morgan Hill, CA, bought with the Marki family and management | Platform | Industrial & Manufacturing | Source |
| Jul 2025 | HanmarAerospace metal forming shop in Pacoima, CA, and the first add-on for AMG | Add-on | Industrial & Manufacturing | Source |
| Jul 2025 | Converter Accessory CorporationWeb handling components maker in Wind Gap, PA, added to Double E | Add-on | Industrial & Manufacturing | Source |
| Jun 2025 | Clad Metal SpecialtiesClad metal composites maker in Bay Shore, NY, added to Prince & Izant | Add-on | Industrial & Manufacturing | Source |
| Mar 2025 | SENSBattery charger and DC power systems maker in Longmont, CO, bought with management | Platform | Industrial & Manufacturing | Source |
Portfolio by sector
From the firm's portfolio page S5.
Industrial & Manufacturing
- AdvancedPCB
- AEM
- AMG (Alpha Metalcraft Group)
- BMG (Brown Machine Group)
- Double E
- Hultec
- Lamart
- Marki Microwave
- Process Insights
- SENS
Other
- Hydromax USA
Past investments: Prince & Izant
Greymont’s take
How Industrial Growth Partners fits a seller
IGP suits owners of profitable specialty manufacturing or technical industrial service companies, especially in aerospace and defense, electrical and power, and engineered materials. Many of its recent platforms came from families: it bought Marki Microwave with the Marki family in 2025 and Lamart with the Hirsh family in 2026. A founder who wants to take some money off the table and stay invested can do that through a recapitalization.
IGP says it uses less debt than most of its peers and that no company in its history has gone bankrupt, which lowers the risk for an owner who keeps equity. It also builds companies to sell to large strategic buyers, as with the 2026 sale of Prince & Izant to TransDigm. Owners should ask how big a stake they would keep, and what role IGP expects them to play after closing.
Questions owners ask
What size company does Industrial Growth Partners buy?
IGP targets profitable industrial companies with revenue of up to $250 million for new platforms. It says add-on acquisitions for its existing companies can be smaller than that.
Does IGP work with family-owned businesses?
Yes. Family and founder recapitalizations are one of its main deal types, and its 2025 Marki Microwave and 2026 Lamart acquisitions were both done alongside the founding families and management.
Where does IGP invest?
New platform companies must have their head office in the United States or Canada. Add-ons can be anywhere, and IGP says companies in its third and fourth funds earned up to 40 percent of revenue outside North America on average.
Which fund is IGP investing from?
IGP is investing from Industrial Growth Partners VI, a $1.2 billion fund that closed in August 2022, and says it is looking for both new platforms and add-ons.
Sources
- S1Industrial Growth Partners home page Accessed October 20, 2026
- S2IGP: About Us Accessed October 20, 2026
- S3IGP: Investment Overview and Criteria Accessed October 20, 2026
- S4IGP: Expertise and Financial Resources Accessed October 20, 2026
- S5IGP: Portfolio (current and prior companies) Accessed October 20, 2026
- S6IGP Closes $1.2 Billion Fund VI (August 2022) Accessed October 20, 2026
- S7IGP Completes Sale of Prince & Izant to TransDigm (September 2026) Accessed October 20, 2026
- S8IGP Acquires Lamart Corporation (August 2026) Accessed October 20, 2026
- S9IGP News 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 Industrial Growth Partners. Figures are as reported on the dates shown and may have changed. Request a correction