Lower middle market private equity firm
Inverness Graham Investments
- HeadquartersWayne, PA S6
- Founded2003 S2
- Websiteinvernessgraham.com
- Last verifiedOctober 29, 2026
At a glance
| Assets under management | $1.8B (as of May 2026) S7 |
|---|---|
| Latest fund | Inverness Graham Investments V, $400M (May 2026) S7 |
| EBITDA range | Up to $20M S3 |
| Revenue range | $10M to $100M S3 |
| Check size | $20M to $80M S3 |
| Deal types | Platform, Add-on S3 |
| Geography | North America S7 |
| Sectors | IT Services & MSP, Software & SaaS, Industrial & Manufacturing, Education, Consumer & Food |
What Inverness Graham Investments buys
Inverness Graham is a lower middle market buyout firm in Wayne, Pennsylvania, founded in 2003 by Kenneth Graham and shaped by the Graham family's long history of running manufacturing businesses. It takes majority control of companies with $10 million to $100 million of revenue in software and tech-enabled services, healthcare products and advanced manufacturing, and it reports more than $1.8 billion of assets under management.
It invests through two strategies. The flagship funds, most recently the $400 million Fund V closed in May 2026, target companies with up to $20 million of EBITDA and write equity checks of $40 million to $80 million. The Green Light strategy, whose first fund closed at $238 million, backs companies that improve efficiency or environmental results, with up to $10 million of EBITDA and checks of $20 million to $50 million. Every platform is grown through add-ons, so a smaller company is most likely to meet the firm as an acquisition for a holding such as Corsica Technologies, GPS Trackit or Treat Planet.
Recent deals
Announced in the 24 months before October 29, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Sep 2026 | EasyLlamaMajority recapitalization of a compliance training and workflow software company for small businesses | Platform | Software & SaaS | Source |
| Sep 2026 | VivoAquaticsMajority recapitalization of a commercial water management technology company; the fifth Green Light platform | Platform | Source | |
| Jul 2026 | ShipSigmaMajority recapitalization of a parcel shipping cost software company; the fourth Green Light platform | Platform | Transportation & Logistics | Source |
| May 2026 | Inverness Graham Investments VFifth flagship fund closed at $400 million, lifting assets under management above $1.8 billion | Fund close | Source | |
| Mar 2026 | Axcel LearningOnline professional certification and test preparation platform, the second Fund V investment | Platform | Education | Source |
| Nov 2025 | AccountabilITManaged IT platform Corsica Technologies merged with WestView Capital Partners' managed security provider AccountabilIT | Investment | IT Services & MSP | Source |
| Sep 2025 | Bosco & Roxy'sPremium baked dog treat maker added to Treat Planet | Add-on | Consumer & Food | Source |
| Jul 2025 | Grace Medical and Hurricane MedicalTwo surgical product makers added to Innovia Medical | Add-on | Industrial & Manufacturing | Source |
| Jun 2025 | AnalyticsIQPredictive marketing data company added to Alliant | Add-on | Software & SaaS | Source |
| May 2025 | Cognito FormsLow-code workflow automation software company, the first Fund V investment | Platform | Software & SaaS | Source |
| Mar 2025 | ROI BiologicalsPlant and soil health products company combined with Green Light holding My Yield | Add-on | Source | |
| Jan 2025 | Concord ServicingSold to GTCR about three years after the 2022 investment | Exit | Software & SaaS | Source |
| Dec 2024 | ZonarFleet management provider added to GPS Trackit | Add-on | Software & SaaS | Source |
| Nov 2024 | AlliantMarketing data and analytics company | Platform | Software & SaaS | Source |
| Oct 2024 | Inverness Graham Green Light FundFirst sustainability fund closed at $238 million, above its $200 million target | Fund close | Source |
Portfolio by sector
From the firm's portfolio page S4.
Advanced Manufacturing
- EiKO Global
- KICTeam
- Smartflow
- Treat Planet
Healthcare / Advanced Manufacturing
- Biolyst Scientific
- Innovia Medical
- VitalPath
Sustainability / Advanced Manufacturing
- Custom Agronomics
- My Yield
Sustainability / Technology-Enabled Services / Software
- ShipSigma
- VivoAquatics
Technology-Enabled Services / Software
- Corsica Technologies
- Alliant
- Axcel Learning
- BenefitHub
- Cognito Forms
- EasyLlama
- GPS Trackit
Past investments: Concord Servicing, Swipeclock, Syntrio, Vista Apex Dental Products
Greymont’s take
How Inverness Graham Investments fits a seller
Inverness Graham suits owners of profitable software, managed IT or specialty manufacturing companies who want a control partner with a large operating bench and a clear plan for add-on deals. The firm says it wants owners and managers who stay involved after closing, in management or on the board, and who keep a meaningful equity stake, so a sale usually means selling a majority and rolling part of the value forward.
Owners of IT service and security firms should know that its Corsica Technologies platform merged with AccountabilIT in November 2025 to build a national MSP and managed security business, which makes smaller IT providers natural add-on candidates. Two questions are worth asking early: which fund would make the investment, since the flagship and Green Light funds have different size limits, and how long the firm expects to hold, given that Concord Servicing was sold after about three years.
Questions owners ask
Does Inverness Graham buy managed IT service providers?
Yes. Its Corsica Technologies platform, owned since November 2018, is a managed IT and cybersecurity provider for small and mid-sized businesses. In November 2025 Corsica merged with AccountabilIT, an Arizona managed security provider backed by WestView Capital Partners, to build a national MSP and MSSP business.
What size company does Inverness Graham look for?
Its published criteria call for majority control of companies with $10 million to $100 million of revenue. The flagship strategy targets up to $20 million of EBITDA with $40 million to $80 million of equity, and the Green Light strategy targets up to $10 million of EBITDA with $20 million to $50 million of equity.
Will the owner keep a stake after selling to Inverness Graham?
Often, yes. The firm says it looks for owners and managers who want to stay active in management or board roles and keep significant equity. Its 2026 deals for ShipSigma, VivoAquatics and EasyLlama were all described as majority recapitalizations.
What is the Inverness Graham Green Light strategy?
It is a separate fund series for lower middle market companies whose products or services improve efficiency and environmental results. The first Green Light fund closed at $238 million in October 2024, and VivoAquatics in September 2026 became its fifth platform investment.
Sources
- S1Inverness Graham home page Accessed October 29, 2026
- S2Inverness Graham: About Us Accessed October 29, 2026
- S3Inverness Graham: Investment Criteria (Flagship and Green Light) Accessed October 29, 2026
- S4Inverness Graham: Portfolio Accessed October 29, 2026
- S5Inverness Graham: Partnership Accessed October 29, 2026
- S6Inverness Graham: Contact (Wayne, PA office) Accessed October 29, 2026
- S7Inverness Graham Closes Fifth Flagship Buyout Fund (May 13, 2026) Accessed October 29, 2026
- S8Inverness Graham Closes Inaugural Green Light Fund Above Target at $238M (October 29, 2024) Accessed October 29, 2026
- S9Inverness Graham-backed Corsica Merges with WestView Capital Partners' AccountabilIT (November 24, 2025) Accessed October 29, 2026
- S10Inverness Graham Acquires EasyLlama (September 29, 2026) Accessed October 29, 2026
- S11Inverness Graham Backs VivoAquatics (September 2026) Accessed October 29, 2026
- S12Inverness Graham Announces Sale of Concord Servicing to GTCR (January 8, 2025) Accessed October 29, 2026
- S13Inverness Graham news sitemap Accessed October 29, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Inverness Graham Investments. Figures are as reported on the dates shown and may have changed. Request a correction