Lower middle market private equity firm focused on industrial companies

Milton Street Capital

At a glance

EBITDA range$5M to $20M S2
Deal typesPlatform, Add-on S2
GeographyNorth America S2
SectorsIndustrial & Manufacturing

What Milton Street Capital buys

Milton Street Capital is a Houston private equity firm, formed in 2016, that buys control of lower middle market industrial companies based in North America. It looks for manufacturing, rental, distribution and industrial service businesses with $5 million to $20 million of EBITDA, and it names family-owned companies, corporate carve-outs and complicated situations as deals it will take on. The home page says the firm has put $1.1 billion of equity to work and links to investor portals for three funds.

Milton Street calls itself neither an operator nor a passive owner. At the start of each deal it agrees a plan with management that covers strategy, hiring, pricing, new sales channels and costs, and management leads the work. Current holdings make conveyor parts, cryogenic freezers, specialty medical beds, parking guidance systems and data center cooling equipment. Its May 2026 Safe Air Technology deal was a majority recapitalization done with the founder and a co-investor. A company below $5 million of EBITDA is more likely to fit as an add-on, the way ParkZen joined Parking Guidance Systems in 2025.

Recent deals

Announced in the 24 months before November 2, 2026.

DateCompanyTypeSectorSource
May 2026Safe Air TechnologyMajority recapitalization of a Baton Rouge maker of data center HVAC systems, alongside EA Advisors and the founder; the current leadership team staysPlatformIndustrial & ManufacturingSource
Nov 2025PurgeRiteAgreed sale to Vertiv for about $1.0 billion in cash plus up to $250 million more tied to 2026 resultsExitHVAC, Plumbing & ElectricalSource
Oct 2025ZXP TechnologiesLubricants blender and packager sold to an industry investor group after about eight years and renamed Consolidated BrandsExitIndustrial & ManufacturingSource
Apr 2025ParkZenBaton Rouge parking software developer bought by Parking Guidance Systems, part of Global Parking TechnologiesAdd-onSoftware & SaaSSource

Portfolio by sector

From the firm's portfolio page S3.

Current

  • Global Parking Technologies
  • IC Biomedical
  • Kreg Therapeutics
  • ProVeyance
  • Safe Air Technology

Past investments: American Trailer Rental Group, PurgeRite, ZXP Technologies

Greymont’s take

How Milton Street Capital fits a seller

Milton Street fits owners of profitable manufacturers, rental fleets or industrial service companies who want a control buyer that will push on pricing, sales and operations, and who may roll some equity into the next stage. Both family owners and corporations selling a division are named as target sellers. Its record shows long holds and some large outcomes: ZXP Technologies' new owners thanked the firm for about eight years of partnership, and the PurgeRite sale to Vertiv was priced at about $1.0 billion.

Owners should ask which parts of the improvement plan the firm expects management to carry and how much its own team will do, and, if they keep a stake, how Milton Street decides when to sell.

Questions owners ask

What size companies does Milton Street Capital buy?

Its criteria call for $5 million to $20 million of EBITDA, a control position and a headquarters in North America. It names family-owned businesses, corporate carve-outs and complex situations as the kinds of deals it pursues.

What industries does Milton Street invest in?

Industrial companies in the lower middle market: manufacturing, rental, distribution and industrial services. Current holdings include ProVeyance (conveyor components), IC Biomedical (cryogenic freezers), Kreg Therapeutics (specialty medical beds), Global Parking Technologies and Safe Air Technology.

Has Milton Street sold any companies recently?

Yes. In November 2025 Vertiv agreed to buy PurgeRite from Milton Street for about $1.0 billion in cash plus up to $250 million tied to 2026 results, and in October 2025 ZXP Technologies was sold to a group of lubricants industry veterans.

Sources

  1. S1Milton Street Capital home page Accessed November 2, 2026
  2. S2Milton Street Capital: Investment Criteria Accessed November 2, 2026
  3. S3Milton Street Capital: Portfolio, Current Accessed November 2, 2026
  4. S4Milton Street Capital: Portfolio, Previous Accessed November 2, 2026
  5. S5Milton Street Capital: Latest News Accessed November 2, 2026
  6. S6Safe Air Technology Partners with Milton Street Capital and EA Advisors (May 12, 2026) Accessed November 2, 2026
  7. S7Vertiv announces intent to acquire PurgeRite (November 3, 2025) Accessed November 2, 2026
  8. S8Veteran Industry Leaders Jennifer Straumins and Shane Terry Acquire ZXP Technologies (October 6, 2025) Accessed November 2, 2026
  9. S9Parking Guidance Systems Has Acquired ParkZen (April 21, 2025) Accessed November 2, 2026
  10. S10ACG Houston Announces Ninth Annual Deal Of The Year Winners (April 22, 2026) Accessed November 2, 2026

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

For business owners

Thinking about selling? Start here.

We work for the buyers, so owners never pay us a fee or a share of proceeds. See what your business could be worth and how many buyers fit a company like yours, or start a confidential conversation.

What Is My Business Worth? Who Would Buy My Company?