Middle market private equity firm

Nautic Partners

Formerly Fleet Equity Partners

  • HeadquartersProvidence, RI S1
  • Founded1986 S2
  • Websitenautic.com
  • Last verifiedOctober 20, 2026

At a glance

Latest fundNautic Partners XI, $4.5B (Oct 2024) S7
EBITDA range$10M to $100M S3
Check size$50M to $500M S3
Deal typesPlatform, Add-on, Growth S3
GeographyNorth America S3
SectorsHealthcare Services, IT Services & MSP, Cybersecurity, Industrial & Manufacturing, Distribution

What Nautic Partners buys

Nautic Partners is a Providence, Rhode Island firm that started in 1986 as Fleet Equity Partners, part of Fleet Financial Group, and became independent in 2000. It invests in three sectors: healthcare (pharmacy, home and community care, behavioral health), industrials (industrial distribution, specialty materials and engineered products) and outsourced services, which for Nautic includes managed IT, cybersecurity, facility services and school food service. It counts more than 165 platform deals and over $15 billion of equity managed since it began.

Its stated target is a North American company with $10 million to $100 million or more of EBITDA, with an equity check of $50 million to $500 million or more, in buyouts, growth deals and consolidations. The industrials team asks for more, $25 million to $125 million of EBITDA, and plans about four add-ons per platform. Nautic invests from its $4.5 billion eleventh fund, closed in October 2024. A smaller company will usually meet Nautic as an add-on to a platform such as VC3, IT Solutions, SurfacePrep or LindFast Solutions Group.

Recent deals

Announced in the 24 months before October 20, 2026.

DateCompanyTypeSectorSource
Jun 2026HES Facilities ManagementSchool janitorial, facilities and grounds services company, formed by Nautic in 2020, sold to GI PartnersExitSource
Mar 2026AKAMNew York and Florida property manager for condos, co-ops and HOAs sold to Audax Private EquityExitProperty Management & HOASource
Feb 2026KabaFusionGrowth investment in a home and alternative-site infusion provider; management stays on as significant investorsGrowthHealthcare ServicesSource
Dec 2025AZ Wire & CableAgreement for LindFast Solutions Group to buy it from MFG PartnersAdd-onDistributionSource
Dec 2025SenderraRxAgreement to make a growth investment in a Dallas specialty pharmacy; management keeps a significant stakeGrowthHealthcare ServicesSource
Nov 2025True North SoftwarePolice dispatch and records software maker added to GovHostAdd-onSoftware & SaaSSource
Oct 2025CenaveraK-12 school food service company bought from Harkness Capital PartnersPlatformSource
Jul 2025Cutting Edge Network TechnologiesCentral Florida managed IT provider added to IT SolutionsAdd-onIT Services & MSPSource
Jul 2025AccessIT GroupCybersecurity solutions and services provider based in King of Prussia, PennsylvaniaPlatformCybersecuritySource
Jul 2025Ideal Tridon GroupMaker of clamps, couplings and other engineered components, bought from TruArc PartnersPlatformIndustrial & ManufacturingSource
May 2025UK AbrasivesIllinois abrasives maker and distributor added to SurfacePrep through its GNPGraystar unitAdd-onDistributionSource
Apr 2025PanadyneAbrasives and specialty ceramic materials distributor added to SurfacePrepAdd-onDistributionSource
Feb 2025Proud MomentsABA therapy provider for children with autism, bought from Audax Private EquityPlatformHealthcare ServicesSource
Feb 2025VybondCarve-out of Berry Global's specialty tapes business, relaunched under the Vybond namePlatformIndustrial & ManufacturingSource
Jan 2025Precision AbrasivesAbrasive products supplier added to SurfacePrepAdd-onDistributionSource
Jan 2025Schweitzer & CrossonPaint and powder coating equipment and supplies provider added to SurfacePrepAdd-onDistributionSource
Dec 2024Big BoltAdded to LindFast Solutions Group, a master distributor of specialty fastenersAdd-onDistributionSource
Dec 2024Lastique InternationalSeventh acquisition for polymer compounder Aurora Material Solutions since 2017Add-onIndustrial & ManufacturingSource
Nov 2024Leering HengeloDutch abrasive blasting equipment business added to SurfacePrepAdd-onDistributionSource
Nov 2024PACE TechnicalToronto IT services provider, the first Canadian deal for IT SolutionsAdd-onIT Services & MSPSource
Nov 2024Davidson Hospitality GroupThird-party hotel management company bought from a KSL Capital Partners affiliatePlatformSource
Oct 2024Nautic Partners XIFinal close at its $4.5 billion hard cap, above a $3.75 billion targetFund closeSource
Oct 2024PDJ VibroUK vibratory finishing business added to SurfacePrepAdd-onDistributionSource

Portfolio by sector

From the firm's portfolio page S5.

Healthcare

  • Proud Moments
  • AnewHealth
  • EmpiRx Health
  • Exalt Health
  • Clinical Medical Services and Integrated HomeCare Services
  • Innovative Renal Care
  • Mikart
  • Advantage HCS
  • Angels of Care Pediatric Home Health
  • PANTHERx Rare
  • SenderraRx
  • KabaFusion
  • Sagent Behavioral Health
  • Pyramid Healthcare
  • SPS Health
  • VitalCaring Group

Industrials

  • Aurora Material Solutions
  • Curtis Industries
  • HB Performance Systems
  • LindFast Solutions Group
  • Ideal Tridon
  • SurfacePrep
  • Vallen
  • Vybond

Services

  • AccessIT Group
  • DeepSeas
  • Davidson Hospitality Group
  • GovHost
  • IT Solutions Consulting
  • Cenavera
  • Tarian
  • VC3

Other

  • 1105 Media
  • Lifestreet
  • Rain the Growth Agency
  • Innervate

Greymont’s take

How Nautic Partners fits a seller

Nautic is a strong fit for owners of managed IT, cybersecurity and specialty industrial distribution businesses that are too small to be a platform on their own. Its two managed IT platforms, VC3 and IT Solutions, added 13 IT service providers between 2022 and 2025, and SurfacePrep added six businesses between October 2024 and May 2025. In these deals the seller joins a larger regional or national company rather than starting a new one.

Owners with $10 million or more of EBITDA can be a new platform. Nautic usually announces these deals as done alongside the existing management team, and in its growth investments in KabaFusion and SenderraRx the founders stayed on as significant investors. Owners should ask whether Nautic will take majority control, how much equity they are expected to keep, and how long Nautic plans to hold the company. As one reference point, it owned AKAM for about six years before selling it.

Questions owners ask

Does Nautic Partners buy managed IT service providers?

Yes. Its services group lists IT and tech-enabled services as a focus, and it owns two managed IT platforms, VC3 and IT Solutions. IT Solutions bought Cutting Edge Network Technologies in Florida in July 2025, and VC3 has added IT providers in Vermont, Wisconsin, Ohio, Texas and California since 2022.

What size company does Nautic look for?

Its stated range is $10 million to $100 million or more of EBITDA, with equity investments of $50 million to $500 million or more. The industrials team asks for $25 million to $125 million of EBITDA. Smaller companies usually join one of its platforms as an add-on.

Does Nautic invest outside the United States?

Its stated geography is North America, and its industrials criteria call for at least 65% of sales there. Some add-ons are abroad, such as SurfacePrep's purchases in the Netherlands and the UK and IT Solutions' purchase of PACE Technical in Toronto.

Has Nautic owned a property management company?

Yes. Nautic backed a management-led recapitalization of AKAM, a New York property manager for condominiums, cooperatives and homeowner associations, in February 2020, and sold it to Audax Private Equity in March 2026. It does not currently list another property manager.

Sources

  1. S1Nautic Partners home page Accessed October 20, 2026
  2. S2Nautic: History and Culture Accessed October 20, 2026
  3. S3Nautic: Investment Approach (What We Look For) Accessed October 20, 2026
  4. S4Nautic: Sectors of Focus Accessed October 20, 2026
  5. S5Nautic: Companies (active filter) Accessed October 20, 2026
  6. S6Nautic News Accessed October 20, 2026
  7. S7Nautic Partners Raises $4.5 Billion for Its Eleventh Fund (October 25, 2024) Accessed October 20, 2026
  8. S8Nautic Partners Announces Sale of Property Management Company AKAM (March 10, 2026) Accessed October 20, 2026
  9. S9Audax Private Equity Completes Exit of Proud Moments (February 10, 2025) Accessed October 20, 2026

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

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