Lower middle market private equity firm
Mangrove Equity Partners
- HeadquartersTampa, FL S1
- Websitemangroveequity.com
- Last verifiedOctober 28, 2026
At a glance
| Latest fund | Mangrove Investors IV, L.P., $250M (Mar 2026) S5 |
|---|---|
| EBITDA range | $3M to $10M S2 |
| Revenue range | $10M to $100M S2 |
| Deal types | Platform, Add-on S2 |
| Geography | United States, Canada S2 |
| Sectors | Industrial & Manufacturing, Construction Services, Accounting & Professional Services |
What Mangrove Equity Partners buys
Mangrove Equity Partners is a Tampa private equity firm that buys stable, profitable service companies, manufacturers and value-added distributors based in the US or Canada. For a new platform it looks for $3 million to $10 million of pre-tax profit on $10 million to $100 million of revenue, and its deals usually total $15 million to $75 million. Its favorite niches are engineered industrial products, enthusiast consumer goods, and field services that keep costly equipment and facilities working, such as industrial cleaning, corrosion and wear protection, testing and repair.
Mangrove does recapitalizations, family succession recaps, management buyouts and buy-ins, and industry roll-ups, and it also backs independent sponsors. In March 2026 it closed Mangrove Investors IV at its $250 million hard cap. Smaller companies can sell to its platforms as add-ons: Peak Pavement wants pavement maintenance firms in the Midwest and Northeast with at least $250,000 of EBITDA, and Sphere Investigations wants investigation firms with more than $2 million of revenue.
Recent deals
Announced in the 24 months before October 28, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Aug 2026 | Cascon Pumps and Chamberlain MachineMaker of custom pumps for fuel, lubrication and thermal management in aerospace, defense and power; senior managers keep leading it | Platform | Industrial & Manufacturing | Source |
| Jun 2026 | HD Sealcoating and Maintain It AllMichigan and Pennsylvania pavement maintenance firms joined A&R Sealcoating to form Peak Pavement Group | Add-on | Construction Services | Source |
| Apr 2026 | Birmingham GearSoutheastern gear and gearbox repair firm added to Griffin Gear | Add-on | Industrial & Manufacturing | Source |
| Apr 2026 | Stuppy GreenhouseMidwest maker of commercial greenhouse structures added to Atlas Greenhouse | Add-on | Industrial & Manufacturing | Source |
| Mar 2026 | Mangrove Investors IV, L.P.Final close at the $250 million hard cap | Fund close | Source | |
| Jan 2026 | PowerParts GroupGas and steam turbine parts platform built from STAR Turbine and Thor Precision; buyer not named | Exit | Industrial & Manufacturing | Source |
| Dec 2025 | Vintage AirMaker of aftermarket air conditioning for classic and late-model vehicles; buyer not named | Exit | Consumer & Food | Source |
| Oct 2025 | Patrol Protect SecureContract security platform formed with Sunlake Capital in 2018 after six add-ons; buyer not named | Exit | Source | |
| Oct 2025 | Seaside Waste ServicesNew Jersey solid waste hauler sold to Interstate Waste Services | Exit | Environmental & Waste | Source |
| Oct 2025 | Marshall Investigative GroupField and internet investigations firm added to Sphere Investigations | Add-on | Accounting & Professional Services | Source |
| Mar 2025 | Sphere Investigations (PHENIX Investigations and Fraud Sniffr)New investigations platform formed with Sunlake Capital Partners through two founding acquisitions | Platform | Accounting & Professional Services | Source |
| Nov 2024 | Griffin GearSouth Carolina industrial gearbox repair and replacement gear provider; senior managers stay on | Platform | Industrial & Manufacturing | Source |
Portfolio by sector
From the firm's portfolio page S4.
Accounting & Professional Services
- Sphere Investigations
Construction Services
- Peak Pavement Group (A&R Sealcoating, HD Sealcoating, Maintain It All)
Industrial & Manufacturing
- Cascon-Chamberlain
- Griffin Gear
- Atlas Greenhouse
- NORMco Pump & Power Active (unconfirmed)
- Wear-Concepts Active (unconfirmed)
Other
- STCR Business Systems Active (unconfirmed)
Past investments: PowerParts Group, Vintage Air, Patrol Protect Secure, Seaside Waste Services
Greymont’s take
How Mangrove Equity Partners fits a seller
Mangrove fits owners of niche industrial manufacturers and field service businesses who want to take money off the table but stay involved. Three of its seven principals are former operators, and its releases regularly say the founder or existing managers keep leading the business: A&R Sealcoating's founder stayed on as a significant owner, and the senior teams at Griffin Gear and Cascon-Chamberlain kept running their companies.
The firm holds for several years and then sells. Between October 2025 and January 2026 it sold four companies, including Seaside Waste Services and Patrol Protect Secure, and with a new $250 million fund it is now buying again. Owners should ask how much of the company they would keep, what the add-on plan is, and whether Mangrove is investing alongside an independent sponsor, since that adds another partner to the deal.
Questions owners ask
What size company does Mangrove Equity Partners buy?
For a new platform, Mangrove looks for $3 million to $10 million of pre-tax profit and $10 million to $100 million of revenue, with total deal sizes of about $15 million to $75 million. Add-ons for its existing companies can be much smaller.
Has Mangrove owned a waste company?
Yes. It owned Seaside Waste Services, a New Jersey hauler serving towns and businesses, and sold it to Interstate Waste Services in October 2025. Its target list of field services also includes technical cleaning in industrial settings.
Will Mangrove buy a small add-on company?
Yes. Its platforms publish their own targets: Peak Pavement wants pavement maintenance firms with at least $250,000 of EBITDA, Sphere wants investigation firms with over $2 million of revenue, and Cascon-Chamberlain wants precision manufacturers with $1 million to $10 million of EBITDA.
Does Mangrove work with independent sponsors?
Yes. It runs a program for independent equity sponsors and has built platforms with partners such as Sunlake Capital, which helped form both Patrol Protect Secure in 2018 and Sphere Investigations in 2025.
Sources
- S1Mangrove Equity Partners home page Accessed October 28, 2026
- S2Mangrove Equity Partners: Criteria Accessed October 28, 2026
- S3Mangrove Equity Partners: Industries Accessed October 28, 2026
- S4Mangrove Equity Partners: News Accessed October 28, 2026
- S5Mangrove Equity Partners Closes Oversubscribed $250 Million Fund IV (March 6, 2026) Accessed October 28, 2026
- S6Mangrove: Recent Strategic Acquisitions (April 28, 2026) Accessed October 28, 2026
- S7Mangrove Equity Partners: Owners and Management Teams Accessed October 28, 2026
- S8Mangrove Announces Sale of Seaside Waste Services (October 16, 2025) Accessed October 28, 2026
- S9Mangrove Equity Partners: Portfolio (loads by script) Accessed October 28, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Mangrove Equity Partners. Figures are as reported on the dates shown and may have changed. Request a correction