Lower middle market private equity firm
Montage Partners
- HeadquartersScottsdale, AZ S1
- Founded2004 S1
- Websitemontagepartners.com
- Last verifiedOctober 26, 2026
At a glance
| Assets under management | $80M (as of May 2026) S8 |
|---|---|
| EBITDA range | $1.5M to $7M S2 |
| Check size | $5M to $12M S6 |
| Deal types | Platform, Add-on, Growth S2 |
| Geography | United States, Canada S2 |
| Sectors | Industrial & Manufacturing, Distribution, Consumer & Food, Landscaping, Software & SaaS, Accounting & Professional Services |
What Montage Partners buys
Montage Partners is a Scottsdale, Arizona private equity firm founded in 2004, with a second office in Salt Lake City and about $80 million under management. It invests in established, profitable companies based in the U.S. or Canada with $1.5 million to $7 million of EBITDA, in four broad areas: technology and professional services, healthcare, industrial products and services, and consumer. It does not back start-ups or distressed businesses. Most of its deals are founder recapitalizations, management buyouts or spinouts of corporate divisions, and it usually supplies most of the equity, with common equity checks of $5 million to $12 million.
Montage tends to back the people already running the company, or pairs with an outside executive through its Successor President Program when a founder wants to step away. It has made 21 investments since 2004; the latest, in May 2026, was Lighten Up, a Los Angeles live-event lighting company whose founder kept a meaningful stake. It also runs add-on searches for its companies, so a smaller business could join a holding such as METALfx or Military Fasteners.
Recent deals
Announced in the 24 months before October 26, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| May 2026 | Lighten UpFounder recapitalization of a Los Angeles live-event lighting and production company; the founder keeps a meaningful stake and stays as president | Platform | Source | |
| Jan 2026 | AdvantcoIntegration software company sold to Argano, a Trinity Hunt Partners portfolio company; Montage had invested in 2019 | Exit | Software & SaaS | Source |
| Sep 2025 | PurofluxWater filtration systems maker sold to Purgo Holdings, a Wincove Private Holdings company, seven years after a founder retirement deal | Exit | Industrial & Manufacturing | Source |
| Apr 2025 | Equity MethodsEquity compensation advisory firm sold to HGGC after a 13-year hold that began as a Bank of America spinout | Exit | Accounting & Professional Services | Source |
Portfolio by sector
From the firm's portfolio page S4.
Consumer & Food
- RDD Associates
- Solly Baby
- Moab Brewery and Distillery
Distribution
- Military Fasteners
Industrial & Manufacturing
- METALfx
Landscaping
- United Right-of-Way
Other
- Lighten Up
Past investments: Advantco, Puroflux, Equity Methods, Southwest Data Products
Greymont’s take
How Montage Partners fits a seller
Montage suits the founder of a profitable company with $1.5 million to $7 million of EBITDA who wants to take money off the table, retire, or hand the business to a new leader without selling to a competitor. Founders can keep a stake and stay on, as at Lighten Up and RDD Associates, or step back while Montage backs a new chief executive, as it did at Military Fasteners and Advantco.
Its recent holds lasted six to thirteen years, and the recent exits went to larger private equity firms or companies they own, plus one sale to steelmaker Nucor. Montage is small, with about $80 million under management and $30 million it said was available to invest in 2026, so owners should ask how much equity it can commit, how much debt the deal will use, and how big a stake the founder keeps.
Questions owners ask
What size company does Montage Partners invest in?
Companies headquartered in the U.S. or Canada with $1.5 million to $7 million of EBITDA. Its Successor President Program page says it typically targets common equity checks of $5 million to $12 million.
Can I keep running my company after Montage invests?
Often, yes. In the May 2026 Lighten Up deal the founder kept a meaningful ownership stake and stayed on as president, and Montage says it supports whoever leads the company after a founder recapitalization.
What if I want to retire and have no successor?
Montage runs a Successor President Program that pairs it with an experienced executive who co-invests and becomes CEO. It used that approach at Military Fasteners in August 2024, backing incoming CEO David Ficadenti while the founders sold.
How long does Montage hold its companies?
Its recent exits came after long holds: about six years at Advantco, seven at Puroflux and thirteen at Equity Methods. A co-managing partner told PE Hub its average is four to five years.
Sources
- S1Montage Partners home page Accessed October 26, 2026
- S2Montage Partners: Investment Criteria Accessed October 26, 2026
- S3Montage Partners: Investment Approach Accessed October 26, 2026
- S4Montage Partners: Our Partner Companies Accessed October 26, 2026
- S5Montage Partners: News Accessed October 26, 2026
- S6Montage Partners: Successor President Program Accessed October 26, 2026
- S7Montage Partners: Montage Accelerate Accessed October 26, 2026
- S8Montage Partners Announces Investment in Lighten Up (May 5, 2026) Accessed October 26, 2026
- S9Montage Partners Successfully Exits Investment in Advantco (January 20, 2026) Accessed October 26, 2026
- S10Montage Partners Successfully Exits Investment in Puroflux (September 10, 2025) Accessed October 26, 2026
- S11Montage Partners Monetizes Investment in Equity Methods in Sale to HGGC (April 29, 2025) Accessed October 26, 2026
- S12Montage Partners Awarded PE Hub's Deal of the Year (March 5, 2025) Accessed October 26, 2026
- S13Montage Partners Announces Investment in Military Fasteners (August 28, 2024) Accessed October 26, 2026
- S14Montage Partners: Infrastructure and Commercial Asset Maintenance Acquisition Search 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 Montage Partners. Figures are as reported on the dates shown and may have changed. Request a correction