Oval Partners: Buy Box & Recent Acquisitions

At a glance

EBITDA range	Up to $10M S2
Deal types	Platform, Add-on, Minority, Growth S2
Geography	North America S2
Sectors	IT Services & MSP, Auto Services & Collision

What Oval Partners buys

Oval Partners is a Palo Alto investment firm that puts money to work for several families, pairing private equity skills with the patience of a private holding company. It backs founders of businesses earning less than $10 million of EBITDA in software and services (business and tech-enabled services, information services, internet and SaaS) and in industrial technology, anywhere in North America. It can buy control, meaning 51% to 100% of the shares, or take a structured minority stake that pays owners cash now or funds growth. It prefers service companies with high recurring revenue, loyal niche customers and strong cash flow.

Oval turns one company into a large platform in a fragmented market through many acquisitions. Its current platforms are New Charter Technologies, a group of managed IT service providers that has absorbed about 30 firms; Flex Technology Group, which combines office equipment and print management dealers; and Techmotive, which calibrates driver assistance systems for collision centers in Hawaii and Nevada. A smaller company is most likely to meet Oval as an add-on to one of these.

Recent deals

Announced in the 24 months before October 19, 2026.

Date	Company	Type	Sector	Source
Apr 2026	ICGFlorida managed services provider founded in 1977 joined New Charter; its president stays on to run it	Add-on	IT Services & MSP	Source
Apr 2026	GraVocMassachusetts IT, cybersecurity, ERP and creative services firm with about 80 staff joined New Charter	Add-on	IT Services & MSP	Source
Jan 2026	NetSource OneMichigan IT provider for regulated industries, with more than 700 clients, added to New Charter	Add-on	IT Services & MSP	Source
Mar 2025	Element TechnologiesIT services provider with a strong legal industry practice added to New Charter	Add-on	IT Services & MSP	Source
Feb 2025	Orchestrate AI LabsAI integration startup bought by New Charter; its co-founder became New Charter's chief innovation officer	Add-on		Source
Jan 2025	ProTech IT SolutionsNew York IT provider, started by its president in 2012, joined New Charter	Add-on	IT Services & MSP	Source
Jan 2025	VerusCo-managed IT services provider with roots back to 2002 joined New Charter	Add-on	IT Services & MSP	Source

Portfolio by sector

From the firm's portfolio page S3.

Current Platforms

New Charter Technologies
Flex Technology Group
Techmotive

Greymont’s take

How Oval Partners fits a seller

Oval is a natural buyer for owners of managed IT service providers who want to sell but keep their local name, team and client relationships. New Charter has added a firm every few months, and its releases describe founders and presidents staying on to run their businesses afterward, as at ICG in April 2026 and NetSource One in January 2026. Oval also suits founders of smaller service businesses with recurring revenue who want some cash out without giving up control, since it offers structured minority deals as well as buyouts.

Because Oval invests family money and describes a holding company time frame, owners should ask how long it plans to keep a platform and what a later sale would mean for them. Owners joining New Charter as an add-on should ask whether part of the price would be paid in platform equity, and what would change for their brand and staff after integration.

Questions owners ask

Does Oval Partners buy managed IT service providers?

Yes. Its New Charter Technologies platform is a national group of managed IT providers serving small and mid-sized businesses. It added NetSource One in January 2026 and GraVoc and ICG in April 2026.

What size company does Oval Partners look for?

Founder-owned businesses with less than $10 million of EBITDA that it can grow, both on their own and through acquisitions, to several times their starting profit. It invests across North America.

Will Oval Partners take a minority stake?

Yes. Its criteria allow either a control investment of 51% to 100% of the equity or a structured minority position that gives sellers liquidity or provides capital for the next stage of growth.

Sources

S1Oval Partners home page Accessed October 19, 2026
S2Oval Partners: Partnership Focus Accessed October 19, 2026
S3Oval Partners: Investments Accessed October 19, 2026
S4New Charter Technologies Welcomes NetSource One to Its Growing Platform (January 13, 2026) Accessed October 19, 2026
S5New Charter Technologies news releases on PR Newswire Accessed October 19, 2026
S6Techmotive and Oval Partners Partnership Accessed October 19, 2026
S7New Charter Technologies Expands with ICG (April 21, 2026) 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 Oval Partners. Figures are as reported on the dates shown and may have changed. Request a correction