At a glance
| Latest fund | Palm Beach Capital Fund VI, $350M (May 2024) S4 |
|---|---|
| EBITDA range | $5M+ S2 |
| Revenue range | $20M+ S2 |
| Deal types | Platform, Add-on, Minority, Growth S2 |
| Geography | United States S2 |
| Sectors | Environmental & Waste, Accounting & Professional Services, Transportation & Logistics, Healthcare Services, Construction Services, Distribution, Consumer & Food |
What Palm Beach Capital buys
Palm Beach Capital is a West Palm Beach, Florida private equity firm that has backed lower middle market companies since 2001. It now invests from its sixth fund, which passed $350 million in May 2024. For a new platform it wants a U.S. company with at least $20 million of revenue and $5 million of EBITDA, valued at $20 million to $300 million. It can take control or a minority stake, and its deals include management buyouts, recapitalizations and growth equity. Its stated sectors are business services, outsourcing, healthcare, infrastructure, and transportation and logistics.
Most of its recent activity is in engineering, architecture and environmental consulting. Pape-Dawson Engineers, Earth Systems and United Design Partners, the architecture group built on MBI Companies and NELSON Worldwide, all buy firms on a regular basis. The bar for add-ons is much lower: $1 million of revenue, no EBITDA minimum, and any location. A smaller firm is most likely to meet Palm Beach Capital as an add-on to one of these platforms.
Recent deals
Announced in the 24 months before October 28, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jul 2026 | NELSON WorldwideNational architecture and design firm added to United Design Partners, the platform launched with MBI Companies | Add-on | Accounting & Professional Services | Source |
| Mar 2026 | BHCOverland Park, Kansas engineering and surveying firm added to Pape-Dawson as its Midwest base | Add-on | Accounting & Professional Services | Source |
| Feb 2026 | Prism EngineeringLouisville, Kentucky civil engineering firm added to Pape-Dawson | Add-on | Accounting & Professional Services | Source |
| Nov 2025 | Coffman AssociatesAirport planning firm with Kansas and Arizona offices added to Pape-Dawson | Add-on | Accounting & Professional Services | Source |
| Oct 2025 | Innerlight EngineeringFlorida Panhandle civil engineering, surveying and land planning firm added to Pape-Dawson | Add-on | Accounting & Professional Services | Source |
| Sep 2025 | Gaskins + LeCrawMarietta, Georgia civil engineering and surveying firm with six offices added to Pape-Dawson | Add-on | Accounting & Professional Services | Source |
| Sep 2025 | Bonnett Design GroupMaitland, Florida landscape architecture and planning firm added to Pape-Dawson | Add-on | Accounting & Professional Services | Source |
| Jun 2025 | GrowvePalm Beach Capital led a majority equity investment in the St. Petersburg, Florida health and wellness company | Investment | Consumer & Food | Source |
| May 2025 | Morris Engineering & ConsultingFlorida civil engineering firm added to Pape-Dawson | Add-on | Accounting & Professional Services | Source |
| Apr 2025 | EnviroTracYaphank, New York environmental engineering, remediation and spill response firm joined Earth Systems | Add-on | Environmental & Waste | Source |
| Mar 2025 | Spangler EnvironmentalRaleigh, North Carolina environmental and risk management consulting firm added to Earth Systems | Add-on | Environmental & Waste | Source |
| Jan 2025 | Eberly & AssociatesAtlanta land planning, civil engineering and landscape architecture firm added to Pape-Dawson | Add-on | Accounting & Professional Services | Source |
| Jan 2025 | MBI CompaniesKnoxville architecture and engineering firm; first step in a national architecture and design platform, with leadership staying on | Platform | Accounting & Professional Services | Source |
Portfolio by sector
From the firm's portfolio page S3.
Accounting & Professional Services
- United Design Partners (MBI Companies, Studio+ and NELSON Worldwide)
Business Services
- Earth Systems
- Pape-Dawson Engineers
- Universal Engineering Sciences
- Blue Team Restoration
- Florida Wingmen
Consumer Products
- Growve
Consumer Products, Distribution, Transportation & Logistics
- National Convenience Distributors
Healthcare
- React Health
Media
- Olympusat
Transportation & Logistics
- Mears Transportation
- Value Truck of AZ
Past investments: Westwood Professional Services
Greymont’s take
How Palm Beach Capital fits a seller
Palm Beach Capital suits owners of engineering, surveying, architecture or environmental consulting firms who want to join a larger group without losing their name or their team. In the MBI Companies and NELSON Worldwide deals, the firm said existing leaders would keep running day-to-day operations, and Pape-Dawson has kept adding regional firms in Texas, Florida, Georgia, Kentucky and Kansas. Because the add-on bar is so low, a sale to this firm usually means joining a platform rather than becoming one.
The firm builds platforms to sell or recapitalize them: it sold its Westwood stake to Blackstone in 2024 and recapitalized Universal Engineering Sciences in 2021 while keeping a stake. Owners should ask how far the platform they would join is into its hold, and whether keeping some equity is part of the deal.
Questions owners ask
What size company does Palm Beach Capital look for?
For a new platform it wants at least $20 million of revenue and $5 million of EBITDA, with an enterprise value of $20 million to $300 million. Add-ons to its existing companies can be as small as $1 million of revenue, with no EBITDA minimum.
Does Palm Beach Capital buy environmental consulting firms?
Yes, through Earth Systems, an environmental consulting and remediation firm it backed in 2022. Earth Systems bought Spangler Environmental of Raleigh in March 2025 and joined with EnviroTrac of Yaphank, New York in April 2025.
Does Palm Beach Capital take minority stakes?
Yes. Its platform criteria cover both control and minority investments. It earlier took a minority position in Growve, and in June 2025 it led a majority equity investment in the same company.
Does management stay after a Palm Beach Capital deal?
In its recent architecture deals, yes. MBI Companies kept its name, workforce and leaders in January 2025, and NELSON Worldwide kept its workforce and leadership team when it joined the platform in July 2026.
Sources
- S1Palm Beach Capital: About Palm Beach Capital Accessed October 28, 2026
- S2Palm Beach Capital: Investment Criteria Accessed October 28, 2026
- S3Palm Beach Capital: Portfolio, active investments Accessed October 28, 2026
- S4Palm Beach Capital Newsroom Accessed October 28, 2026
- S5Palm Beach Capital Announces Launch of Architecture-Focused Platform with Investment in MBI Companies (January 2025) Accessed October 28, 2026
- S6Palm Beach Capital Exceeds $350 Million For Its Sixth Fund (May 3, 2024), linked from the firm's newsroom Accessed October 28, 2026
- S7Palm Beach Capital Makes Strategic Investment in NELSON Worldwide (July 8, 2026) Accessed October 28, 2026
- S8Palm Beach Capital: Earth Systems portfolio page Accessed October 28, 2026
- S9Blackstone Energy Transition Partners Announces Majority Investment in Westwood Professional Services (August 7, 2024) Accessed October 28, 2026
- S10Long Island Business News: National environmental firm expands with Long Island acquisition (April 17, 2025), reposted on Earth Systems' news page Accessed October 28, 2026
- S11Earth Systems news: Earth Systems acquires Spangler Environmental (March 27, 2025) Accessed October 28, 2026
- S12Palm Beach Capital Nets 12X Return and Retains Stake in Universal Engineering Sciences in Recap (October 2021) Accessed October 28, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Palm Beach Capital. Figures are as reported on the dates shown and may have changed. Request a correction