Morgan Stanley Capital Partners Buy Box & Acquisitions

At a glance

Deal types	Platform, Add-on S1
Geography	North America S1
Sectors	Accounting & Professional Services

What Morgan Stanley Capital Partners buys

Morgan Stanley Capital Partners (MSCP) is the middle market private equity buyout team inside Morgan Stanley Investment Management. It was set up in 1986 and works from New York. It makes privately negotiated equity investments, mostly in North America, in chosen niches within business services, consumer, healthcare, education and industrials. Its recent companies are services businesses: Security 101, a commercial security integrator; Apex Companies, an environmental consulting and engineering firm; and Resource Innovations, which runs energy efficiency programs for utilities.

MSCP buys control of a platform and then grows it through acquisitions as well as organic growth. Apex has bought engineering and stormwater firms in Florida, California and the Mountain West since late 2024, and Alliance Technical Group made a string of testing acquisitions before MSCP sold it to Blackstone in January 2026. No size range was available on any page we could read. A smaller owner is most likely to meet MSCP as an add-on to one of its platforms.

Recent deals

Announced in the 24 months before October 22, 2026.

Date	Company	Type	Sector	Source
Mar 2026	CWECalifornia civil infrastructure, water resources and environmental engineering firm added to Apex Companies	Add-on	Accounting & Professional Services	Source
Feb 2026	Security 101Commercial electronic security integrator founded in 2005, based in West Palm Beach with more than 50 U.S. locations	Platform		Source
Feb 2026	Tully Consulting GroupNorthern California stormwater management and civil engineering firm added to Apex Companies	Add-on	Accounting & Professional Services	Source
Jan 2026	Alliance Technical GroupEnvironmental testing, monitoring and compliance company sold to Blackstone funds	Exit		Source
Dec 2025	AquaWorks DBOSmall-scale water and wastewater treatment engineering firm added to Apex Companies	Add-on	Accounting & Professional Services	Source
Nov 2025	Forsgren AssociatesMountain West civil engineering, environmental science and land surveying firm added to Apex Companies	Add-on	Accounting & Professional Services	Source
Aug 2025	Global Analyzer SystemsAdded to Alliance Technical Group to widen its international air emissions work	Add-on		Source
Jul 2025	ESC SpectrumContinuous emissions monitoring business added to Alliance Technical Group	Add-on		Source
Jun 2025	Environmental 360Environmental consulting and monitoring firm serving industrial clients since 2010, added to Alliance Technical Group	Add-on		Source
Feb 2025	Richard Heath & AssociatesCalifornia energy efficiency and public health services firm added to Resource Innovations	Add-on	Accounting & Professional Services	Source
Jan 2025	DeNovo Global Technologies air testing division, GOLD and Ranger AnalyticsAir testing and leak detection businesses added to Alliance Technical Group	Add-on		Source
Nov 2024	Weiler EngineeringFlorida engineering firm serving municipal and private clients added to Apex Companies	Add-on	Accounting & Professional Services	Source

Portfolio by sector

From the firm's portfolio page S1.

Accounting & Professional Services

Resource Innovations

Business Services

Security 101

Industrials

Apex Companies

Greymont’s take

How Morgan Stanley Capital Partners fits a seller

MSCP fits owners of engineering, environmental consulting, testing, security integration and similar service firms, especially businesses that could join Apex Companies or Security 101. Most of its recent activity is add-ons: since late 2024 Apex alone has bought Weiler Engineering, Forsgren Associates, AquaWorks DBO, Tully Consulting Group and CWE, and Security 101 said after MSCP's February 2026 purchase that it will keep making acquisitions. Security 101 kept its brand and leadership under MSCP, and at Apex MSCP backed the existing CEO.

Owners should ask whether they can roll equity into the platform and when MSCP expects to sell it, since MSCP sold Alliance Technical Group to Blackstone in January 2026 after a long run of add-ons. It is also worth asking how the Morgan Stanley name helps in practice, for example with financing or customer introductions.

Questions owners ask

Is Morgan Stanley Capital Partners part of Morgan Stanley?

Yes. MSCP is the middle market private equity buyout team within Morgan Stanley Investment Management. It invests through its own funds in privately negotiated deals, mainly in North American services businesses.

Does MSCP buy smaller companies?

Mostly as add-ons to its platforms. Apex Companies, an MSCP platform, has bought at least five engineering and environmental firms since November 2024, and Alliance Technical Group added several testing businesses in 2025 before its sale.

Does management stay after an MSCP deal?

In the deals we could read, yes. Security 101 kept its brand and its CEO, Greg Daly, after MSCP bought it in February 2026, and when MSCP acquired Apex in 2023 it partnered with the existing CEO, who stayed on to lead the business.

Sources

S1Security 101 Enters New Chapter with Morgan Stanley Capital Partners (February 24, 2026) Accessed October 22, 2026
S2Morgan Stanley Capital Partners Acquires Apex Companies (February 1, 2023) Accessed October 22, 2026
S3Blackstone Energy Transition Partners Announces Acquisition of Alliance Technical Group (January 6, 2026) Accessed October 22, 2026
S4Alliance Technical Group Acquires ESC Spectrum (July 7, 2025) Accessed October 22, 2026
S5Resource Innovations Acquires Richard Heath & Associates (February 25, 2025) Accessed October 22, 2026
S6Apex Companies Acquires CWE (March 17, 2026) Accessed October 22, 2026

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