Lower middle market private equity firm
LongWater Opportunities
- HeadquartersDallas, TX S7
- Founded2009 S2
- Websitelongwateropportunities.com
- Last verifiedOctober 26, 2026
At a glance
| Assets under management | $1B (as of Jun 2026) S1 |
|---|---|
| EBITDA range | $4M+ S3 |
| Deal types | Platform, Add-on S3 |
| Geography | North America S3 |
| Sectors | Industrial & Manufacturing, Construction Services |
What LongWater Opportunities buys
LongWater is a private markets firm founded in 2009, with offices in Dallas, Fargo, St. Louis and Boston and about $1 billion of regulatory assets under management across its strategies. Its private equity team, made up largely of former industrial operators, takes majority stakes in private, founder- and family-owned North American industrial companies with at least $4 million of EBITDA. Target areas are industrial services, power, value-added distribution, building products, transportation, infrastructure, specialty manufacturing and agriculture-related businesses, with a special interest in the American Heartland. It is often the first outside institutional investor a founder has taken on.
Current holdings include Jetta Corporation, Midland Garage Door and XCaliber Container in building products, Myriad Art Group, and Cypress Rail Solutions, a railcar repair company it formed with industry executives in 2024. In September 2026 it bought a majority of Blastco, a Texas coatings contractor, to anchor a national industrial coatings roll-up, so coatings contractors are the clearest add-on fit today. A separate Capital Solutions team in St. Louis makes credit and minority equity investments, mostly alongside other sponsors.
Recent deals
Announced in the 24 months before October 26, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Sep 2026 | BlastcoMajority stake in a Channelview, Texas coatings and tank rehabilitation contractor to start a national industrial coatings platform; the founder keeps a minority stake and a board seat | Platform | Construction Services | Source |
| Aug 2025 | AmerichMaker of luxury bathtubs and shower bases added to Jetta Corporation | Add-on | Industrial & Manufacturing | Source |
| May 2025 | M3 Glass TechnologiesGlass Fab Holdings, parent of M3 Glass and Thermotec, sold to Brick Wholesale Glass | Exit | Industrial & Manufacturing | Source |
Portfolio by sector
From the firm's portfolio page S4.
Building Products
- Jetta Corporation
- Midland Garage Door
- XCaliber Container
Hospitality
- Myriad Art Group
Industrial Coatings
- Blastco
Industrial Services
- Cypress Rail Solutions
Past investments: Fox River, M3 Glass Technologies, Lewis Cabinet Specialties, San Benito Shutter, Circuitronics
Greymont’s take
How LongWater Opportunities fits a seller
LongWater suits owners of building products, specialty manufacturing and industrial services companies, especially in the middle of the country, who want a buyer whose partners have run industrial businesses themselves. Its private equity deals are control buyouts in which existing leaders usually stay: in the Blastco deal the founder kept a minority stake and joined the board, and the current leader kept running the company. Owners whose business could plug into Jetta, Midland Garage Door, Cypress Rail or Blastco may also be approached as add-ons.
LongWater has sold to both strategic and financial buyers, including M3 Glass to Brick Wholesale Glass in 2025 and two companies to Monument Microcap Partners in 2021. Owners should ask which LongWater fund would make the investment, how long the firm expects to hold the company, and, if they keep a stake, how the timing of the eventual sale will be decided.
Questions owners ask
What size company does LongWater's private equity team look for?
Its stated criteria call for at least $4 million of EBITDA in a private, founder- or family-owned industrial business in North America. It does not publish an upper limit and aims for majority positions.
Does the founder stay involved after LongWater invests?
Often, yes. When LongWater bought a majority of Blastco in September 2026, the founder kept a minority stake and a board seat, and the existing leadership team continued to run the company.
Is LongWater building a platform that buys smaller companies?
Yes. Blastco, acquired in September 2026, is the base of a planned national industrial coatings platform, and LongWater says it has already been talking with coatings contractors across the country about joining it.
What else does LongWater do besides private equity?
A separate Capital Solutions team based in St. Louis makes private credit and minority equity investments in companies with at least $3 million of EBITDA, often alongside other sponsors. Its first SBIC fund closed above its $262.5 million target in June 2026.
Sources
- S1LongWater home page Accessed October 26, 2026
- S2LongWater: About Accessed October 26, 2026
- S3LongWater: Private Equity (investment criteria) Accessed October 26, 2026
- S4LongWater: Private Equity Portfolio (as of September 1, 2025) Accessed October 26, 2026
- S5LongWater: News & Insights Accessed October 26, 2026
- S6LongWater Private Equity Partners with Founder of Blastco (September 30, 2026) Accessed October 26, 2026
- S7LongWater Private Equity Announces Acquisition of Americh (August 29, 2025) Accessed October 26, 2026
- S8LongWater Announces Final Closing of Inaugural SBIC Fund (June 3, 2026) Accessed October 26, 2026
- S9LongWater: Capital Solutions Accessed October 26, 2026
- S10LongWater Partners with Industry Executives to Form Cypress Rail Solutions (October 2, 2024) Accessed October 26, 2026
- S11Capstone Partners: M3 Glass sale to Brick Glass (May 21, 2025) Accessed October 26, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with LongWater Opportunities. Figures are as reported on the dates shown and may have changed. Request a correction