Lockeland Capital Partners: Buy Box & Recent Acquisitions

At a glance

EBITDA range	$1M to $8M S2
Deal types	Platform S2
Sectors	Industrial & Manufacturing, Distribution

What Lockeland Capital Partners buys

Lockeland Capital Partners is a Nashville investment firm that buys established lower middle market manufacturers, value-added distributors and service businesses, mostly ones selling into industrial markets. It wants $1 million to $8 million of EBITDA, a long record of steady cash flow, no heavy reliance on a few customers, modest needs for capital spending and working capital, and managers already in place. Its deals are management buyouts and corporate carve-outs, and it is often the first institutional money a company has taken.

Its usual structure pairs the firm with long-serving insiders who take over from a retiring owner. The two partners, Andrew Ginsberg and Phil Gamble, name no fund on their site. Their one company so far, Don Young Company, was bought in September 2025 with management, Source Capital and other investors. A company near the $1 million EBITDA floor can approach Lockeland directly as a new purchase. No add-on to Don Young has been announced yet.

Recent deals

Announced in the 24 months before November 5, 2026.

Date	Company	Type	Sector	Source
Sep 2025	Don Young CompanyDallas maker of windows and storm doors, founded in 1978, with five branches in Texas and Oklahoma; bought from the founding family with management, Source Capital and other investors	Platform	Industrial & Manufacturing	Source

Portfolio by sector

From the firm's portfolio page S3.

Windows and doors

Don Young Company

Greymont’s take

How Lockeland Capital Partners fits a seller

Lockeland suits a retiring owner of a steady, unglamorous business who already has a trusted manager ready to take over. The firm lists protecting a prior owner's legacy and culture as a guiding principle, and it aims to give key managers both a bigger role and a chance to invest. At Don Young Company, tenured leaders joined Lockeland in buying the business from the founding family.

A company that depends on the owner alone is a weaker fit, because management in place is one of the firm's criteria. Lockeland has one company so far and names no fund, and that purchase brought in outside investors. An owner should ask where the equity and debt for the deal will come from and how committed that money is before signing, and how long the firm expects to own the business.

Questions owners ask

What size company does Lockeland Capital Partners buy?

Its published criteria call for $1 million to $8 million of EBITDA, along with a long history of stable cash flow, limited customer concentration and modest capital needs.

Does the management team stay after a sale to Lockeland?

Yes, that is the model. The firm says that in most acquisitions it partners with long-serving internal successors to buy out retiring owners, and it lists management in place as a requirement.

What has Lockeland bought so far?

It lists one company: Don Young Company, a Dallas maker of windows and storm doors, announced in September 2025 with management, Source Capital and other investors. Terms were not disclosed.

Sources

S1Lockeland Capital Partners home page Accessed November 5, 2026
S2Lockeland Capital Partners: Investment Approach Accessed November 5, 2026
S3Lockeland Capital Partners: Portfolio Accessed November 5, 2026
S4Lockeland Capital Partners: Our Partners Accessed November 5, 2026
S5Lockeland Capital Partners: Contact Accessed November 5, 2026
S6Lockeland Capital Partners Acquires Don Young Company (September 2, 2025) Accessed November 5, 2026
S7Source Capital Invests in Don Young Company Accessed November 5, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Lockeland Capital Partners. Figures are as reported on the dates shown and may have changed. Request a correction