Lower middle market private equity firm

MFG Partners

  • HeadquartersNew York, NY S6
  • Founded2016 S1
  • Websitemfgpartners.com
  • Last verifiedOctober 27, 2026

At a glance

Latest fundFund I, $299M (Jun 2024) S4
Deal typesPlatform, Add-on S10
GeographyNorth America S6
SectorsConstruction Services, HVAC, Plumbing & Electrical, Environmental & Waste, Distribution, Industrial & Manufacturing

What MFG Partners buys

MFG Partners is a New York firm, started in 2016 by Jeff Mizrahi and Jonathan Schilowitz, that buys control of industrial companies owned by their founders, families or managers. It targets manufacturers, value-added distributors and industrial or business services companies in North America. The two partners completed more than 20 acquisitions as an independent sponsor before raising outside capital, then closed Fund I at about $299 million in June 2024. MFG calls its market the lower middle market but does not publish revenue or EBITDA limits.

Its recent platforms are specialty contractors. It bought Regency Electric, a Denver commercial electrician, in November 2025 and United Group Services, a Cincinnati industrial services and mechanical contractor, in July 2026. Its longest-running build is GRIT Infrastructure in Grove City, Ohio, which combines underground utility contractors with a septic, grease trap and drain cleaning business. Smaller owners in those trades could meet MFG as an add-on to one of these companies, the way Daystar Directional Drilling joined in 2025.

Recent deals

Announced in the 24 months before October 27, 2026.

DateCompanyTypeSectorSource
Aug 2026United Group ServicesCincinnati industrial services and mechanical contractor; the deal closed July 31, 2026 and the managers kept a large stakePlatformConstruction ServicesSource
Jan 2026AZ Wire & CableWire and cable master distributor sold to LindFast Solutions Group, a Nautic Partners companyExitDistributionSource
Nov 2025Regency ElectricDenver commercial electrical contractor founded in 1986; the family leaders kept equity and run the businessPlatformHVAC, Plumbing & ElectricalSource
Jul 2025Daystar Directional DrillingIndiana drilling contractor added to CST Utilities, now part of GRIT Infrastructure; the founder kept a stakeAdd-onConstruction ServicesSource
Jun 2025Elgen ManufacturingNew Jersey maker of HVAC ductwork components sold to Worthington EnterprisesExitIndustrial & ManufacturingSource

Portfolio by sector

From the firm's portfolio page S2.

Construction Services

  • United Group Services
  • GRIT Infrastructure

Distribution

  • Mellott

HVAC, Plumbing & Electrical

  • Regency Electric

Past investments: A-Z Wire & Cable, Storage Solutions, Elgen Manufacturing, Alliance Environmental, LCR Contractors, Mail Communications Group

Greymont’s take

How MFG Partners fits a seller

MFG suits owners of trade and industrial service businesses, such as electrical, mechanical, utility or septic contractors, who want a buyer that knows contracting and plans to hold for several years. In its two newest platform deals the owners or managers kept a large equity stake and stayed in charge of daily operations, and the Daystar founder kept running his Indiana branch with a share of the combined company. A sale to MFG therefore often means giving up control while keeping some ownership for a second payout later. Its realized deals have ended in sales to larger companies: Worthington Enterprises bought Elgen in 2025, and a Nautic Partners company bought AZ Wire & Cable in 2026. Owners should ask how much equity MFG expects them to roll over, and whether their business would become a new platform or be folded into GRIT or another existing holding.

Questions owners ask

Does MFG Partners buy septic or other environmental service companies?

Sometimes, as part of a broader utility platform. Its GRIT Infrastructure group includes Chuck's Septic Tank, Sewer & Drain Cleaning, and GRIT offers septic and grease trap pump-outs alongside directional drilling, excavation and hydro excavation.

How large is MFG's fund?

Its first institutional fund, Fund I, closed in June 2024 with about $299 million of commitments from endowments, insurers, pension funds and foundations. Before that, the founders completed more than 20 deals as an independent sponsor.

Do owners stay on after MFG invests?

In its recent deals, yes. The leaders of Regency Electric in 2025 and United Group Services in 2026 kept significant equity and continued to run day-to-day operations after MFG invested.

Sources

  1. S1MFG Partners home page Accessed October 27, 2026
  2. S2MFG Partners: Our Portfolio Accessed October 27, 2026
  3. S3MFG Partners: News Accessed October 27, 2026
  4. S4MFG Partners Announces Close of Inaugural Private Equity Fund (June 4, 2024) Accessed October 27, 2026
  5. S5MFG Partners Invests in Regency Electric (November 18, 2025) Accessed October 27, 2026
  6. S6MFG Partners Invests in United Group Services (August 6, 2026) Accessed October 27, 2026
  7. S7Four utility contractors unite under GRIT Infrastructure (October 15, 2026) Accessed October 27, 2026
  8. S8CST Utilities Acquires Daystar Directional Drilling (July 15, 2025) Accessed October 27, 2026
  9. S9GRIT Infrastructure: Services Accessed October 27, 2026
  10. S10GRIT Infrastructure: About Accessed October 27, 2026
  11. S11MFG Partners: Our Approach Accessed October 27, 2026

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

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