Private equity firm (also manages credit and net lease funds)
New Mountain Capital
- HeadquartersNew York, NY S5
- Founded1999 S1
- Websitenewmountaincapital.com
- Last verifiedOctober 22, 2026
At a glance
| Assets under management | $60B (as of Jun 2026) S1 |
|---|---|
| Latest fund | New Mountain Strategic Equity Fund II, $1.2B (Jan 2026) S5 |
| Check size | $100M to $500M S3 |
| Deal types | Platform, Add-on, Minority, Growth S3 |
| Sectors | Healthcare Services, Software & SaaS, Accounting & Professional Services, IT Services & MSP, Auto Services & Collision, HVAC, Plumbing & Electrical, Insurance Brokerage, Industrial & Manufacturing, Distribution |
What New Mountain Capital buys
New Mountain Capital is a New York firm founded in 1999 that manages about $60 billion across private equity, credit and net lease real estate. This profile covers only its private equity work. It looks for what it calls defensive growth companies: leaders in niches that keep growing through a downturn, turn profits into cash and are hard for rivals to enter. Its focus list includes healthcare technology and services, specialized software, data and information, tech-enabled business services such as accounting and engineering firms, infrastructure and field services, life science materials and digital transformation.
Its flagship funds buy control stakes, generally investing $100 million to $500 million in companies worth about $100 million to $1 billion, and it says it uses debt moderately. A separate Strategic Equity fund, which closed at $1.2 billion in January 2026, takes minority stakes when control is not on offer. Owners of smaller businesses usually meet New Mountain through a platform's add-on program: Amerit Fleet Solutions says it buys fleet maintenance operators with as little as about $5 million of revenue.
Recent deals
Announced in the 24 months before October 22, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Sep 2026 | Lincoln InvestmentFull ownership returned to the Forst family and advisor shareholders after New Mountain's 2020 investment | Exit | Wealth Management | Source |
| Aug 2026 | Jensen HughesAgreement to buy the fire protection and nuclear risk engineering firm from Gryphon Investors | Platform | Accounting & Professional Services | Source |
| Jul 2026 | Triple Diamond Truck and Trailer RepairCanadian truck and trailer repair shop added to Amerit through its Pro Reefer unit | Add-on | Auto Services & Collision | Source |
| Jul 2026 | Kirk and Truck & Trailer Parts SolutionsFleet maintenance and truck upfitting businesses added to Amerit Fleet Solutions | Add-on | Auto Services & Collision | Source |
| Jul 2026 | SAMMajority stake in the Austin geospatial and inspection services firm, bought from Peak Rock Capital | Platform | Accounting & Professional Services | Source |
| Jun 2026 | RRC CompaniesMajority investment in an engineering firm serving utility-scale renewable power and battery storage | Platform | Accounting & Professional Services | Source |
| Jun 2026 | Commonwealth AssociatesMajority investment in a Jackson, Michigan power engineering firm | Platform | Accounting & Professional Services | Source |
| Jun 2026 | Cumming GroupSale of the project and cost management firm to Leonard Green & Partners completed | Exit | Accounting & Professional Services | Source |
| May 2026 | Pro ReeferCanadian refrigerated trailer maintenance provider added to Amerit Fleet Solutions | Add-on | Auto Services & Collision | Source |
| May 2026 | IMA Financial GroupRecapitalization in which New Mountain sold its 2020 stake and reinvested as a minority holder alongside Oak Hill Capital | Investment | Insurance Brokerage | Source |
| Mar 2026 | QualusAgreement to sell the power and grid services firm to Clearlake Capital | Exit | Source | |
| Jan 2026 | New Mountain Strategic Equity Fund II$1.2 billion for minority investments, above the fund's $1 billion hard cap | Fund close | Source | |
| Nov 2025 | Pearce ServicesSold to CBRE for about $1.2 billion in cash plus a possible earn-out | Exit | Source | |
| Sep 2025 | Derotic Emergency EquipmentCalifornia upfitter of fire, police and government vehicles added to Amerit; founders Jim and Casey Demattei sold | Add-on | Auto Services & Collision | Source |
| May 2025 | Smarter TechnologiesSmarterDx, Thoughtful.ai and Access Healthcare combined into one healthcare revenue management company | Investment | Healthcare Services | Source |
| Apr 2025 | Office AllyGrowth investment in the healthcare clearinghouse and software company; Francisco Partners reinvested | Growth | Software & SaaS | Source |
| Feb 2025 | Vector Fleet ManagementGovernment and heavy industrial fleet maintenance provider added to Amerit Fleet Solutions | Add-on | Auto Services & Collision | Source |
| Jan 2025 | Amerit Fleet SolutionsMajority investment in the commercial fleet maintenance and repair provider; Brightstar Capital and management stay invested | Platform | Auto Services & Collision | Source |
| Jan 2025 | MachinifyAgreement to buy the AI healthcare payment software company and merge it with New Mountain's payment integrity platform | Platform | Software & SaaS | Source |
Portfolio by sector
From the firm's portfolio page S4.
Legacy Continuation Vehicles
- Avantor
- Circana
- Datavant Group
- Real Chemistry
- Sonrava Health
Private Equity Flagship Control
- 3E
- ABB Optical Group
- Smarter Technologies (Access Healthcare)
- Actylis
- ALKU
- Alpine Intel
- Amerit Fleet Solutions
- Ascensus Specialties
- Azuria
- Beeline
- BMI
- Bounteous
- Commonwealth Associates
- Consor
- Datassential
- Diversified Foodservice Supply
- emids
- Emmes
- Finvi
- Grant Thornton Advisors
- Horizon Services
- Machinify
- MAG Aerospace
- Novacore
- Office Ally
- PerkinElmer
- Personify Health
- Profile Products
- Radancy
- RRC Companies
- Salute
- SAM
- Summit Wash Holdings
- Tinuiti
- Topix Skin Health
- Vytalogy Wellness
Strategic Equity Non-Control
- HB Wealth
- HomeX
- IMA Financial Group
- Portage Point Partners
- Site 20/20
- Wipfli
Greymont’s take
How New Mountain Capital fits a seller
New Mountain suits owners of sizable, steadily growing service or technology businesses who want a buyer focused on growth and moderate debt. It studies sectors from the top down and tries to approach companies before an auction starts, so a strong fit may hear from it directly. For owners of fleet repair shops, car washes or HVAC and plumbing companies, the more practical path is usually an add-on sale to a platform it already owns, such as Amerit Fleet Solutions, Summit Wash Holdings or Horizon Services. Amerit alone bought Pro Reefer, Kirk and Triple Diamond in 2026 and says it buys both founder-owned and sponsor-backed companies.
New Mountain often names one of its senior advisors as chairman of a new platform, as it did at SAM, RRC and Commonwealth in 2026. An owner who plans to stay should ask how the board and leadership will change and how much equity they are expected to keep in the business.
Questions owners ask
How big does a company need to be for New Mountain Capital?
For control deals, New Mountain says it generally invests $100 million to $500 million per transaction in companies with enterprise values of about $100 million to $1 billion. It does not publish a revenue or EBITDA minimum.
Does New Mountain buy fleet repair or other auto service businesses?
Yes, mostly through its portfolio. It made a majority investment in Amerit Fleet Solutions in January 2025, and Amerit has since bought Vector Fleet Management, Derotic Emergency Equipment, Pro Reefer, Kirk and Triple Diamond. It also owns Summit Wash Holdings, a car wash platform.
Will New Mountain take a minority stake?
Yes. Its Strategic Equity funds buy minority, non-control stakes when control is not available. The second of these funds closed at $1.2 billion in January 2026, and its first investment was in accounting and advisory firm Wipfli.
Does New Mountain own IT services companies?
Yes. Its control portfolio includes Bounteous, a digital transformation consultancy, and emids, which provides digital solutions and services to healthcare payers, providers and life sciences companies. Digital transformation is one of its listed focus areas.
Sources
- S1New Mountain Capital home page (key numbers as of June 30, 2026) Accessed October 22, 2026
- S2New Mountain Capital: About Us Accessed October 22, 2026
- S3New Mountain Capital: Private Equity strategy Accessed October 22, 2026
- S4New Mountain Capital: Private Equity portfolio Accessed October 22, 2026
- S5New Mountain Capital Closes on $1.2 Billion for New Mountain Strategic Equity Fund II (January 15, 2026) Accessed October 22, 2026
- S6New Mountain Capital Closes on $15.4 Billion for New Mountain Partners VII (July 1, 2024) Accessed October 22, 2026
- S7Amerit Fleet Solutions Partners with New Mountain Capital (January 28, 2025) Accessed October 22, 2026
- S8Amerit Fleet Solutions expands its acquisition program (February 17, 2026) Accessed October 22, 2026
- S9New Mountain Capital: News Accessed October 22, 2026
- S10New Mountain Capital: 2025 Year in Review 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 New Mountain Capital. Figures are as reported on the dates shown and may have changed. Request a correction