Lower middle market growth and buyout private equity firm
LLR Partners
- HeadquartersPhiladelphia, PA S1
- Founded1999 S1
- Websitellrpartners.com
- Last verifiedOctober 20, 2026
At a glance
| Latest fund | LLR Equity Partners VII, $2.5B (Apr 2025) S4 |
|---|---|
| Revenue range | $5M+ S2 |
| Check size | $10M to $200M S2 |
| Deal types | Platform, Add-on, Minority, Growth S4 |
| Sectors | Software & SaaS, Healthcare Services, IT Services & MSP, Wealth Management, Education |
What LLR Partners buys
LLR Partners is a Philadelphia firm, founded in 1999, that has backed over 130 companies and raised over $7.5 billion in its seven funds. It invests mainly in software and tech-enabled businesses, with teams for healthcare, financial technology, education, industrial technology and general software. Its industrial technology group also owns service companies such as Stratix (managed mobility services), Salute (data center operations) and Dizzion (managed virtual desktops), and its healthcare group owns provider groups such as Schweiger Dermatology and Eye Health America.
LLR looks for companies with at least $5 million of revenue and invests $10 million to $200 million of equity. It can take a majority or a minority stake, and it funds growth, recapitalizations and buyouts. Its newest fund, LLR 7, closed at $2.45 billion in April 2025. Smaller companies often meet LLR as add-ons: the firm says it seeks add-ons of all sizes, and its companies completed 35 of them in 2025.
Recent deals
Announced in the 24 months before October 20, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Sep 2026 | EnergyCAPUtility and energy management software; Resurgens Technology Partners stays invested alongside LLR | Investment | Software & SaaS | Source |
| Sep 2026 | T5 OperationsAgreement for Salute to buy the data center operations business of T5 Data Centers | Add-on | IT Services & MSP | Source |
| Aug 2026 | TenantCloudSoftware for independent landlords added to TurboTenant | Add-on | Software & SaaS | Source |
| Jun 2026 | Celero CommerceAgreement to sell the payments company, which LLR co-founded in 2018, to Deluxe for $625 million | Exit | Source | |
| Jun 2026 | AxisCareHome care agency software; LLR invests alongside Frontier Growth | Investment | Software & SaaS | Source |
| May 2026 | FastSpringDigital commerce and payments platform; LLR joins Accel-KKR as an investor | Investment | Software & SaaS | Source |
| Mar 2026 | Perks4CareCaregiver retention tools added to Viventium | Add-on | Software & SaaS | Source |
| Mar 2026 | Petroleum Processing SolutionsPayment processing for fuel and convenience retailers added to Celero Commerce | Add-on | Source | |
| Mar 2026 | RimidiRemote care and glucose monitoring software added to Health Recovery Solutions | Add-on | Software & SaaS | Source |
| Mar 2026 | BigParkingUK event parking business added to JustPark | Add-on | Software & SaaS | Source |
| Feb 2026 | ApploiHealthcare hiring software added to Viventium | Add-on | Software & SaaS | Source |
| Jan 2026 | AssetLink GlobalRugged asset tracking business added to Geoforce | Add-on | Software & SaaS | Source |
| Jan 2026 | AssemblyEmployee rewards software added to Quantum Workplace | Add-on | Software & SaaS | Source |
| Nov 2025 | TrueIntegrum Holdings made a new investment in the executive search firm; LLR now lists True as realized | Exit | Source | |
| Nov 2025 | Mobility CGEnterprise managed mobility services provider added to Stratix | Add-on | IT Services & MSP | Source |
| Sep 2025 | Jade ScientificLab supplies business added to Genesee Scientific | Add-on | Distribution | Source |
| Sep 2025 | Alta Equipment Group dock and door services divisionNortheast expansion for Allmark Door, an industrial door and loading dock service company | Add-on | Construction Services | Source |
| Aug 2025 | ePayPolicyPayments software for the insurance industry; LLR invests alongside Serent Capital | Investment | Software & SaaS | Source |
| May 2025 | TruTechnologiesGrowth investment in software for overseeing clinical trial samples | Growth | Software & SaaS | Source |
| May 2025 | Seaside Healthcare community services divisionHome and community mental health services across six Southeastern states added to SUN Behavioral Health | Add-on | Healthcare Services | Source |
| Apr 2025 | LLR Equity Partners VIISeventh fund closed at $2.45 billion | Fund close | Source | |
| Apr 2025 | Suvoda and GreenphireLLR 7 invested as the two clinical trial software companies completed their merger | Investment | Software & SaaS | Source |
| Mar 2025 | ADCC GroupData center consulting firm added to Salute | Add-on | IT Services & MSP | Source |
| Nov 2024 | Bowden Eye & AssociatesJacksonville ophthalmology practice joined Eye Health America as its 25th partner practice | Add-on | Healthcare Services | Source |
| Oct 2024 | ClearlyDermFive South Florida dermatology offices added to Schweiger Dermatology Group | Add-on | Healthcare Services | Source |
Portfolio by sector
From the firm's portfolio page S3.
Distribution
- Genesee Scientific
Education, Government Technology
- Edlio
Education, Healthcare
- MedBridge
- TrueLearn
FinTech
- DaySmart
- ePayPolicy
- Soltis Investment Advisors
- TrustEngine
- YCharts
FinTech, Government Technology, Software
- JustPark
Government Technology, Software
- Edmunds GovTech
- Submittable
Healthcare
- Affinity Hospice
- AxisCare
- Azalea Health
- Eye Health America
- Health Recovery Solutions
- Nonstop Health
- Revecore
- Schweiger Dermatology Group
- SUN Behavioral Health
- Suvoda
- TruTechnologies
- VPL
Healthcare, HR Technology
- CareATC
- Corestream
- Viventium
Healthcare, Software
- RealTime eClinical Solutions
HR Technology
- Quantum Workplace
Industrial Technology
- AdeptAg
- Allmark Door
- EnergyCAP
- Geoforce
- Salute
- Stratix
Industrial Technology, Software
- 3SI Security Systems
Software
- Appspace
- Dizzion
- FastSpring
- INTELITY
- JWX
- KEEPS
- LS Direct
- Magaya
- Onapsis
- PCS Software
- Relay Network
- SMG - Service Management Group
- TurboTenant
Past investments: Celero Commerce, True, Stealth Monitoring
Greymont’s take
How LLR Partners fits a seller
LLR fits founders of growing software and tech-enabled service companies who want a partner but may not want to give up control. It writes both majority and minority checks, and it often invests next to another firm that stays on, as with Serent Capital at ePayPolicy in 2025 and Resurgens at EnergyCAP in 2026.
Because most of its companies keep buying smaller rivals, owners of small IT service, software or medical practice businesses may meet LLR as the backer of their buyer, through companies such as Stratix, Salute, Schweiger Dermatology or TurboTenant. LLR also sells to large strategic buyers, such as its 2026 agreement to sell Celero Commerce to Deluxe for $625 million. Owners should ask whether LLR wants a majority or minority stake in their case, and how its value creation team would work with management after closing.
Questions owners ask
What size company does LLR Partners invest in?
LLR says it looks for companies with at least $5 million of revenue and deals that need $10 million to $200 million of equity. Add-on acquisitions for its existing companies can be any size.
Will LLR take a minority stake?
Yes. LLR describes itself as a flexible capital provider that can take majority or minority positions, and its seventh fund invests in growth deals, recapitalizations and buyouts.
Does LLR invest in IT services companies?
Yes, through its industrial technology group. Its active holdings include Stratix, a managed mobility services provider that bought Mobility CG in November 2025, and Salute, a data center services company that agreed to buy T5 Operations in September 2026.
How big is LLR's latest fund?
LLR closed LLR Equity Partners VII at $2.45 billion in April 2025. Its prior fund, LLR 6, closed at $1.8 billion in October 2020.
Sources
- S1LLR Partners home page Accessed October 20, 2026
- S2LLR: Areas of Interest and investment criteria Accessed October 20, 2026
- S3LLR: Portfolio Companies Accessed October 20, 2026
- S4LLR Closes Seventh Fund at $2.45 Billion (April 24, 2025) Accessed October 20, 2026
- S5LLR Partners 2025 Year in Review Accessed October 20, 2026
- S6LLR: Property Management software sector page Accessed October 20, 2026
- S7LLR portfolio: Stratix Accessed October 20, 2026
- S8LLR portfolio: Salute Accessed October 20, 2026
- S9LLR portfolio: Dizzion Accessed October 20, 2026
- S10Deluxe to Acquire Celero Commerce (June 18, 2026) 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 LLR Partners. Figures are as reported on the dates shown and may have changed. Request a correction