Private equity firm backing search fund entrepreneurs

Pacific Lake Partners

  • HeadquartersBoston, MA S2
  • Founded2009 S2
  • Websitepacificlake.com
  • Last verifiedOctober 20, 2026

At a glance

EBITDA range$2M to $4M S3
Deal typesPlatform S5
SectorsSoftware & SaaS, Healthcare Services, IT Services & MSP, Auto Services & Collision, Accounting & Professional Services, Education

What Pacific Lake Partners buys

Pacific Lake Partners backs search fund entrepreneurs: people who raise money to find one established company, buy it and run it as chief executive. Founded in 2009, with offices in Boston and Palo Alto, it says it has backed more than 200 search funds and over 120 operating companies through eight funds with $1.58 billion of committed capital. It helps pay for the search, invests equity when the searcher buys a business, and its value creation team works with the new chief executive after closing.

It does not stick to one industry. Its guide for searchers points to profitable, growing companies with at least $2 million of EBITDA ($2 million to $4 million is the target), margins above 15%, mostly contractual recurring revenue and an industry growing at twice the pace of the economy or faster. It says search deals usually price between $10 million and $30 million. An owner will normally meet Pacific Lake through one of its searchers rather than the firm itself.

Recent deals

Announced in the 24 months before October 20, 2026.

DateCompanyTypeSectorSource
2026Connected Dealer ServicesHardware and software tools for car dealers and auto lendersInvestmentSoftware & SaaSSource
2026IT Service AllianceSearcher-led group that buys and runs IT services companiesInvestmentIT Services & MSPSource
2026Geller LightingLighting wholesaler that also recycles bulbs and batteries and installs LED systemsInvestmentDistributionSource
2026Cambridge Memorial GroupOperator of funeral homes in the MidwestInvestmentSource
2026SurgeOnboarding, licensing and partner management softwareInvestmentSoftware & SaaSSource
2026Message DigitalDigital outreach services for nonprofits, agencies and campaignsInvestmentSource
2026Heartwood FamilyChildcare center operator and acquirer based in CanadaInvestmentEducationSource
2026CoFiPayment platform for elective medical proceduresInvestmentSource
2026Merit HoldingsHolding company that buys niche vertical software businessesInvestmentSoftware & SaaSSource
2025ADAS SafeShop that calibrates driver-assistance systems on vehiclesInvestmentAuto Services & CollisionSource
2025Stanley RuthResidential HVAC service focused on through-the-wall unitsInvestmentHVAC, Plumbing & ElectricalSource
2025Saturday LandscapesCommercial landscape maintenance in CaliforniaInvestmentLandscapingSource
2025CyberData ProsData privacy and security consulting for businessesInvestmentCybersecuritySource
2025FreeBalancePublic financial management software and advice for governmentsInvestmentSoftware & SaaSSource
2025O&W Heat TreatHeat treating and brazing servicesInvestmentIndustrial & ManufacturingSource
2025Crystal Practice ManagementPractice management software for optometristsInvestmentSoftware & SaaSSource
2025FluidSecureFuel and fluid management technologyInvestmentSoftware & SaaSSource
2025Wu ConsultingOutsourced biostatistics for drug and biotech companiesInvestmentSource
2025ASI GroupUnderwater inspection, repair and maintenanceInvestmentSource

Portfolio by sector

From the firm's portfolio page S4.

B2B services

  • 2020 Innovation
  • AquaVita
  • ASI Group
  • Biometrics4ALL
  • Central Storage & Warehouse
  • Connected Dealer Services
  • Darcy Partners
  • Elios Media
  • Falcon Critical Care Transport
  • Fleetflo
  • Geller Lighting
  • HousingWire
  • IntellaTriage
  • Katonah Management Services
  • Management One
  • maxRTE
  • Message Digital
  • Meternet
  • másLabor
  • O&W Heat Treat
  • Prelude Dynamics
  • QMC Telecom
  • Quick Soft
  • Radiation Detection Company
  • Resolute Property Tax Solutions
  • Saturday Landscapes
  • Surge
  • The Nearshore Company
  • Virtual OfficeWare Healthcare Solutions
  • Wayleadr

Consumer services

  • A Personal Choice
  • ADAS Safe
  • Cambridge Memorial Group
  • ConsumerAffairs
  • Eastern Exterior Partners
  • Gendler Dermatology
  • HerScan
  • Stanley Ruth
  • WonderPlay Brands

Diversified

  • Newbury Franklin

Education

  • Heartwood Family
  • Spanish Schoolhouse

Financial services

  • CoFi
  • Montis Financial

Healthcare

  • Arizona College of Nursing
  • AspenRidge Recovery
  • Calyx Senior Living
  • Colcharter I.P.S.
  • Comprehensive Mobile Care
  • Discover Health
  • Discovery Senior Living
  • ElderTree Care Management
  • Ennoble Care
  • Gastro Center of MD
  • H Clinical
  • Halsey Health
  • HealthBridge
  • LabShares
  • Pelvic Health Solutions
  • Revive Salon & Spa
  • Shandy Clinic
  • StaffScheduleCare
  • Sullab Diagnósticos
  • The Carolina Center
  • Vitana Pediatric & Orthodontic Partners

HoldCo

  • Arven Capital Partners
  • Merit Holdings
  • Neul Capital
  • Pathfinder Brands

Prof. services

  • BEX Realty
  • CyberData Pros
  • FreeBalance
  • IT Service Alliance
  • Meridian Title Corporation
  • NCFDD
  • Sector 7 Energy
  • Wu Consulting

Software

  • Advanced Aircrew Academy
  • Ascend Software
  • Auronix
  • Avanti
  • Axero
  • Banyan
  • BP Logix
  • BroadPeak Partners
  • Clariti
  • Concierge Plus
  • Constellant
  • Crystal Practice Management
  • Datacor
  • dotCMS
  • Eleven Software
  • ELK Analytics
  • eRequester
  • EvoText
  • FileOnQ
  • FluidSecure
  • Forio
  • Icon
  • Infosel
  • Jaama
  • JDXpert
  • Legna Software
  • NeoAssist
  • NovoPath
  • Octapus
  • OneShield
  • Page Vault
  • Performio
  • Raisin
  • SeQent
  • ServantPC Resources
  • Skillwell
  • Stoque
  • Tactiq
  • TaskRay
  • TopQuadrant
  • Waverock

Greymont’s take

How Pacific Lake Partners fits a seller

Pacific Lake fits an owner of a steady, profitable company with roughly $2 million to $4 million of EBITDA who plans to step away, often to retire, and wants one hands-on successor to carry the business on rather than fold it into a larger company. The searcher usually becomes chief executive, and Pacific Lake tells searchers to expect few major changes in the first year to 18 months. Seller debt or bank debt often covers 20% to 40% of the price, so part of the payment can come over time.

Owners should ask how much of the price is paid at closing, how much is seller financing, and what role they will play during the handover. Pacific Lake also runs a Long-Term Home strategy that lets strong search fund CEOs keep building their companies instead of selling after a few years, which may matter to an owner who cares about the company's future.

Questions owners ask

What size company do Pacific Lake searchers look for?

Pacific Lake's guide for searchers sets a floor of $2 million of EBITDA, with $2 million to $4 million as the target, plus margins above 15% and at least 60% contractual recurring revenue.

How does a search fund purchase work?

A searcher backed by investors such as Pacific Lake buys the company and becomes its CEO. Purchase prices generally run $10 million to $30 million, often with 20% to 40% funded by seller or bank debt.

Will the new owner sell the company again quickly?

Not always. Pacific Lake created its Long-Term Home strategy in 2018 so successful search fund CEOs can keep running their companies with its backing instead of selling to private equity, and says it has partnered with 15 CEOs this way.

Which industries do Pacific Lake companies work in?

It is industry neutral. Most current companies are in software, healthcare and business services, but recent investments include driver-assistance calibration, IT services, HVAC, commercial landscaping and funeral homes.

Sources

  1. S1Pacific Lake home page Accessed October 20, 2026
  2. S2Pacific Lake: Our Story (founded 2009, Boston and Palo Alto offices, 200+ search funds, 8 funds, $1.58B committed) Accessed October 20, 2026
  3. S3Pacific Lake: Introduction to Search Funds (target company criteria and deal terms) Accessed October 20, 2026
  4. S4Pacific Lake: Operating Companies (sector, status and investment year) Accessed October 20, 2026
  5. S5Pacific Lake: The Pacific Lake Path (search, buy, grow, transition) Accessed October 20, 2026
  6. S6Pacific Lake: Why We Created Long-Term Home Accessed October 20, 2026
  7. S7Pacific Lake: Searcher & Seller Stories, Page Vault 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 Pacific Lake Partners. Figures are as reported on the dates shown and may have changed. Request a correction

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