Lower middle market private investment firm (no fixed fund; partners invest in every deal)

Monument MicroCap Partners

At a glance

EBITDA range$2M to $8M S1
Deal typesPlatform, Add-on S1
GeographyUnited States, Canada S1
SectorsHealthcare Services, Industrial & Manufacturing, Roofing

What Monument MicroCap Partners buys

Monument MicroCap Partners buys what it calls MicroCap companies: profitable businesses in the United States and Canada with $2 million to $8 million of EBITDA. It works from offices in Indianapolis and in Bloomfield Hills, outside Detroit. The team knows niche manufacturing, value-added distribution, healthcare and specialized business services best, and it will also look at building products, residential services, consumer goods and energy services. The home page counts 35 acquisitions so far: 8 platforms and 27 add-ons.

Monument does not run a fixed-life fund. Its partners put their own money into each deal, in the same securities as management, so it says it is not held to a set holding period. It wants managers who will stay and invest meaningfully alongside it. After a platform deal it keeps buying smaller companies, as Champion Wellness Centers has done with four Florida chiropractic clinics since March 2024. Small manufacturers, clinics and service firms near one of its platforms can fit as add-ons.

Recent deals

Announced in the 24 months before November 2, 2026.

DateCompanyTypeSectorSource
Jul 2026Stelised and MADATwo related Kentucky plastic injection molding businesses added to Sweet Tooth Holdings; closed July 2, 2026Add-onIndustrial & ManufacturingSource
Apr 2026Border ConceptsEarthWay merged with Border Concepts, a Charlotte lawn and garden products company, to build a larger platformInvestmentIndustrial & ManufacturingSource
Mar 2026Boca Chiropractic Spine & WellnessFourth clinic added to Champion Wellness Centers; closed January 30, 2026Add-onHealthcare ServicesSource
Mar 2026NIHG ServicesProvider credentialing and payor enrollment firm recapitalized by Synergy IOM; closed February 23, 2026Add-onHealthcare ServicesSource
Oct 2025Dr. Lichter & AssociatesTampa chiropractic clinic added to Champion Wellness Centers as its founder retiredAdd-onHealthcare ServicesSource
Aug 2025NuVita ChiropracticTampa chiropractic clinic added to Champion Wellness CentersAdd-onHealthcare ServicesSource
Mar 2025Command InvestigationsInsurance investigations company sold to Incline Equity Partners after six years and eight add-ons; closed March 7, 2025ExitSource
February 2025Brandon Spine & Injury CenterFirst clinic added to Champion Wellness Centers, in Brandon, FloridaAdd-onHealthcare ServicesSource
January 2025AIC CompaniesEighth and last add-on for Command Investigations under MonumentAdd-onSource

Portfolio by sector

From the firm's portfolio page S3.

Building Products / Building Materials

  • Renovate America Holdings

Healthcare Services

  • Champion Wellness Centers
  • Synergy IOM

Manufacturing

  • Sweet Tooth Holdings
  • EarthWay

Residential Services

  • Kelly Roofing

Past investments: Command Investigations, Montgomery DME

Greymont’s take

How Monument MicroCap Partners fits a seller

Monument fits the owner of a smaller, steady business, roughly $2 million to $8 million of EBITDA, who wants a buyer that keeps management in place and helps the company buy competitors. Managers are expected to put their own money in alongside the firm. Its record shows patient holds: it owned Command Investigations for about six years, helped it grow from three state licenses to 47 through eight add-ons, and sold it to Incline Equity Partners in 2025. Owners of a small clinic or manufacturer may meet Monument as an add-on instead, as the retiring founder of Dr. Lichter & Associates did in 2025.

Because Monument invests without a committed fund, an owner should ask how the equity for their deal will be raised and how long the firm expects to own the business.

Questions owners ask

What size companies does Monument MicroCap Partners buy?

It targets businesses with $2 million to $8 million of EBITDA in the United States and Canada, a range it calls the MicroCap market. It also buys smaller companies as add-ons to its existing platforms.

Does Monument invest from a traditional fund?

No. Monument says it is not bound by a rigid fund structure or holding period. Its partners invest their own capital in every transaction, using the same equity securities as the management team.

Does Monument buy healthcare practices?

Yes. It owns Champion Wellness Centers, a Tampa chiropractic group that has added four clinics since March 2024, and Synergy IOM, a Dallas neuromonitoring and medical billing company that recapitalized NIHG Services in February 2026.

Sources

  1. S1Monument MicroCap Partners home page Accessed November 2, 2026
  2. S2Monument MicroCap Partners: About Us Accessed November 2, 2026
  3. S3Monument MicroCap Partners: Portfolio Accessed November 2, 2026
  4. S4Monument MicroCap Partners: News Archive Accessed November 2, 2026
  5. S5Monument MicroCap Partners fact sheet (updated March 27, 2026) Accessed November 2, 2026
  6. S6Monument MicroCap Partners Completes Sale of Command Investigations (March 28, 2025) Accessed November 2, 2026
  7. S7Champion Wellness Centers Has Acquired Boca Chiropractic Spine & Wellness (March 27, 2026) Accessed November 2, 2026
  8. S8Recapitalization of NIHG Services by Synergy IOM (March 12, 2026) Accessed November 2, 2026
  9. S9Champion Wellness Centers Has Acquired Dr. Lichter & Associates (October 7, 2025) Accessed November 2, 2026
  10. S10Monument MicroCap Partners Announces Investment in Champion Wellness Centers (March 26, 2024) 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 Monument MicroCap Partners. Figures are as reported on the dates shown and may have changed. Request a correction

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