Middle market private equity firm
Odyssey Investment Partners
- HeadquartersNew York, NY S1
- Founded1997 S1
- Websiteodysseyinvestment.com
- Last verifiedOctober 19, 2026
At a glance
| Latest fund | Odyssey Investment Partners Fund VI, $3.3B (Feb 2020) S5 |
|---|---|
| EBITDA range | $20M+ S2 |
| Check size | $100M to $300M S2 |
| Deal types | Platform, Add-on S2 |
| Geography | North America S2 |
| Sectors | Industrial & Manufacturing, Distribution, HVAC, Plumbing & Electrical, Construction Services, Insurance Brokerage, Accounting & Professional Services |
What Odyssey Investment Partners buys
Odyssey Investment Partners is a New York firm that has raised more than $8.3 billion since 1997 and invests from its $3.25 billion sixth fund, closed in 2020. It buys majority control of middle market industrial and business services companies, mostly in North America. Its published criteria call for EBITDA of $20 million or more, enterprise values of $100 million to $1 billion, and equity checks of $100 million to $300 million. Target areas run from aerospace, building products, electrical products, packaging, safety products and specialty distribution to insurance services, legal services, pharma services, staffing and testing.
Odyssey calls its model Buy, Build and Integrate: it sets up an acquisition team inside each platform and keeps adding companies, and its platforms have completed about 300 add-ons in total. The firm says it will consider add-ons of any size in any location. A smaller company is therefore most likely to meet Odyssey as an add-on to a platform such as PSE Group, SIAA or Magna Legal Services.
Recent deals
Announced in the 24 months before October 19, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Sep 2026 | Falcon Gases (with Encore Gas & Supply)Majority investment in a new packaged gas distribution platform; its first purchase is Encore, a Southern California gas and welding supplier founded in 2014 | Platform | Distribution | Source |
| August 2026 | Hicks Lightning ProtectionPonder, Texas specialty contractor that installs grounding and lightning protection at data centers and chip plants; month from Odyssey's portfolio page | Platform | Construction Services | Source |
| Jul 2026 | TransPakMajority investment in a family-owned protective packaging and crating company founded in 1952; the family CEO stays in charge | Platform | Industrial & Manufacturing | Source |
| Feb 2026 | Champions GroupBlackstone agreed to buy the residential HVAC and plumbing services company; Odyssey keeps a minority stake | Exit | HVAC, Plumbing & Electrical | Source |
| Jul 2025 | Applied Technical ServicesAgreed sale to SGS for $1.325 billion after nearly 40 acquisitions under Odyssey since 2020 | Exit | Source | |
| May 2025 | ValerisMercalis merged with PharmaCord and rebranded as Valeris, backed by Permira and Odyssey | Investment | Source | |
| Nov 2024 | Honeywell personal protective equipment businessProtective Industrial Products agreed to buy Honeywell's PPE brands, including Howard Leight, Miller and North | Add-on | Industrial & Manufacturing | Source |
| Nov 2024 | NSI IndustriesElectrical and HVAC products maker sold to Sentinel Capital Partners after nine add-ons | Exit | Industrial & Manufacturing | Source |
| November 2024 | TestekAviation test equipment maker held since 2016, shown as realized on Odyssey's portfolio page | Exit | Industrial & Manufacturing | Source |
Portfolio by sector
From the firm's portfolio page S3.
Automation/Industrial Tech
- Levata
Digital Engineering
- The Planet Group
Distribution
- Falcon Gases Management
- PSE Group
Electrical Products & Services
- Hicks Lightning Protection
- Industrial Electric Mfg.
Engineered Components
- Pexco
Industrial Services
- Champions Group
Insurance Services
- SIAA
Legal Services
- Magna Legal Services
Packaging
- TransPak
Pharma Services
- ProPharma Group
- Valeris
Safety Products
- Protective Industrial Products
Greymont’s take
How Odyssey Investment Partners fits a seller
Odyssey fits owners of larger companies, with EBITDA of $20 million or more, who want a control buyer that will fund an aggressive acquisition plan. For smaller owners the realistic path is a sale to one of its platforms, and those platforms buy often: Applied Technical Services made nearly 40 acquisitions between 2020 and its 2025 sale to SGS, and NSI Industries made nine.
Family businesses do sell to Odyssey directly. In the July 2026 TransPak deal, the family CEO and the existing leadership team stayed in place. Odyssey's portfolio pages show recent holds lasting roughly four to eight years, and recent exits went both to a strategic buyer (SGS) and to other private equity firms (Sentinel Capital Partners and Blackstone). An owner who rolls equity should ask about the expected hold period and how future add-ons will be funded.
Questions owners ask
How big does a company need to be for Odyssey to buy it?
For a new platform, Odyssey's criteria call for EBITDA of at least $20 million and an enterprise value between $100 million and $1 billion. It will consider add-on acquisitions of any size, anywhere, for its existing portfolio companies.
Does Odyssey Investment Partners take minority stakes?
Not as a new investment. Its published criteria say it takes majority control positions only, while staying flexible on how a deal is structured to fit the seller's situation.
Does Odyssey invest in HVAC or home services companies?
Yes. Commercial and residential services is one of its industrial target areas, and it has owned Champions Group, a residential heating, air conditioning and plumbing services company, since December 2020. In February 2026 Blackstone agreed to buy Champions Group.
What is Odyssey's current fund?
Odyssey Investment Partners Fund VI closed at its $3.25 billion hard cap in February 2020, and the firm's homepage says it is still investing from that sixth fund.
Sources
- S1Odyssey Investment Partners home page Accessed October 19, 2026
- S2Odyssey: Buy, Build & Integrate (investment strategy and criteria) Accessed October 19, 2026
- S3Odyssey: Our Portfolio (status from each company page) Accessed October 19, 2026
- S4Odyssey: News Accessed October 19, 2026
- S5Odyssey Investment Partners Closes $3.25 Billion Sixth Investment Fund (February 13, 2020) Accessed October 19, 2026
- S6Odyssey Investment Partners Invests in TransPak (July 14, 2026) Accessed October 19, 2026
- S7Odyssey: Champions Group portfolio page Accessed October 19, 2026
- S8Blackstone Announces Agreement to Acquire Champions Group (Business Wire, February 16, 2026; not opened, see review flags) Accessed October 19, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Odyssey Investment Partners. Figures are as reported on the dates shown and may have changed. Request a correction