Family office making majority investments
MRE Capital
- HeadquartersAnnapolis, MD S1
- Websitemre-capital.com
- Last verifiedOctober 28, 2026
At a glance
| EBITDA range | $5M to $20M S1 |
|---|---|
| Revenue range | $25M to $100M S1 |
| Deal types | Platform, Add-on S1 |
| Sectors | Landscaping, Construction Services, HVAC, Plumbing & Electrical, Consumer & Food, Accounting & Professional Services |
What MRE Capital buys
MRE Capital is the Annapolis, Maryland family office of David Williams, who ran the marketing services company Merkle for more than 30 years before selling it to Dentsu in 2020. It buys majority stakes in founder, family and entrepreneur owned businesses that sell people-based services in large, fragmented markets where acquisitions can drive growth. Its published target is $25 million to $100 million of revenue and $5 million to $20 million of EBITDA, with a record of growth and profit, recurring revenue, few large customers and clean books.
MRE invests its own family capital with a long horizon and expects the CEO to stay on and the seller to roll a large share of their equity. Each platform then grows through add-ons. Current platforms include DJ's Landscape Management, Total Fire Protection, Curated Events, Trilliad and Terren Landscapes, next to restaurant franchise groups and a few real estate holdings. A company below the size range is most likely to meet MRE as an add-on, as Victory Fire Protection did in September 2026.
Recent deals
Announced in the 24 months before October 28, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Oct 2026 | Terren LandscapesHigh-end residential landscaping company on Philadelphia's Main Line; the founder stays on as CEO | Platform | Landscaping | Source |
| Sep 2026 | Victory Fire ProtectionPottstown, Pennsylvania fire sprinkler company added to Total Fire Protection; the owner keeps his role | Add-on | Construction Services | Source |
| Jul 2026 | Montana Party RentalsBozeman event rental company added to Curated Events | Add-on | Source | |
| Jul 2026 | Greenscape and Meadow Green LandscapingCommercial landscaping companies in New England, the Mid-Atlantic and the Twin Cities added to DJ's Landscape Management | Add-on | Landscaping | Source |
| Jun 2026 | 22 Jersey Mike's locations in Washington and OregonFranchise locations added by JM West, which now runs 75 stores | Add-on | Consumer & Food | Source |
| May 2026 | Casa de PerrinLos Angeles tabletop rental and design house added to Curated Events | Add-on | Source | |
| Apr 2026 | Accelerate PerformanceSales training and leadership development firm added to Trilliad | Add-on | Accounting & Professional Services | Source |
| Feb 2026 | Total Fire ProtectionGrand Rapids, Michigan fire and life safety contractor; the founding family stay on as material owners | Platform | Construction Services | Source |
| Jan 2026 | See-Hear ProductionsScenic production and custom fabrication company added to Curated Events | Add-on | Source |
Portfolio by sector
From the firm's portfolio page S2.
Business Services
- Terren Landscapes
- Total Fire Protection
- Trilliad
- DJ's Landscape Management
- Curated Events
Home Services
- Advantage Services Group
Quick-Service Restaurants
- JM West
- Quality Brand Group
Real Estate
- Vetley Capital
- Greenberg Gibbons Commercial
- Pelican Industrial
Restaurants
- Mission BBQ
Greymont’s take
How MRE Capital fits a seller
MRE suits the owner of a growing service business who wants a long-term partner and is willing to keep a real stake. Its criteria call for a large equity rollover and a CEO who stays aligned, so a clean full exit on day one is not the usual shape of a deal. In its recent platform deals the people in charge stayed: John McCaughey remains CEO of Terren Landscapes, and the Goossens brothers still run Total Fire Protection as material owners.
MRE is also hands-on. Its playbook includes regular calls with the CEO, monthly finance reviews and quarterly board meetings. An owner should ask how much equity MRE expects them to roll, how long the family office plans to own the business, and how decisions are split between MRE and the management team.
Questions owners ask
What size company does MRE Capital look for?
Its published criteria call for $25 million to $100 million of revenue and $5 million to $20 million of EBITDA, with a growth record, recurring revenue and clean financials. Smaller companies have joined its platforms as add-ons.
Is MRE Capital a private equity firm?
MRE describes itself as a family office rather than a private equity firm. It was formed as the family office of David Williams, who led Merkle for more than 30 years before selling it to Dentsu in 2020, and it invests with a long-term horizon.
Does MRE buy fire protection or landscaping companies?
Yes. It made Total Fire Protection its fire and life safety platform in February 2026 and added Victory Fire Protection in September 2026. In landscaping it owns DJ's Landscape Management, which bought Greenscape and Meadow Green in July 2026, and Terren Landscapes, added in October 2026.
Does the owner keep a stake after MRE invests?
Usually. MRE's criteria ask for a significant equity rollover, and in the Total Fire Protection deal the founding family's second generation stayed on as material owners and kept running the business day to day.
Sources
- S1MRE Capital home page and investment criteria Accessed October 28, 2026
- S2MRE Capital: Our Companies Accessed October 28, 2026
- S3MRE Capital: Working With Us Accessed October 28, 2026
- S4MRE Capital: News & Stories Accessed October 28, 2026
- S5MRE Capital Partners with Terren Landscapes (October 19, 2026) Accessed October 28, 2026
- S6MRE Capital Partners with Total Fire Protection (February 10, 2026) Accessed October 28, 2026
- S7Total Fire Protection Expands to Pennsylvania with Addition of Victory Fire Protection (September 24, 2026) Accessed October 28, 2026
- S8MRE Capital's 2025 Year in Review (March 5, 2026) Accessed October 28, 2026
- S9DJ's Landscape Management Acquires Greenscape and Meadow Green Landscaping (July 1, 2026) Accessed October 28, 2026
- S10MRE Capital: How We Think Accessed October 28, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with MRE Capital. Figures are as reported on the dates shown and may have changed. Request a correction