Family office private investment firm
PCM Companies
- HeadquartersSaint Paul, MN S1
- Founded1998 S1
- Websitepcmmgmt.com
- Last verifiedOctober 29, 2026
At a glance
| EBITDA range | $2M to $10M S1 |
|---|---|
| Revenue range | $10M+ S1 |
| Check size | $10M+ S1 |
| Deal types | Platform S1 |
| Sectors | Industrial & Manufacturing, Construction Services, Distribution |
What PCM Companies buys
PCM Companies is a private investment firm in Saint Paul, Minnesota, founded in 1998, that invests on behalf of several Minnesota families. It says plainly that it is not a private equity fund, so it has no fixed fund life, can hold a company for as long as makes sense, and uses debt with restraint. It looks for companies with at least $10 million of revenue and $2 million to $10 million of EBITDA, and it writes equity checks of $10 million or more. Deal types include management buyouts, founder and owner transitions, corporate carve-outs and recapitalizations.
Its target sectors are manufacturing, industrial services, industrial products, business services and distribution. Current holdings are TMI Coatings, an Eagan, Minnesota contractor that paints and restores water towers, stacks and other infrastructure; Suburban Manufacturing, a Monticello, Minnesota maker of fluid power components; and APG Solutions, which makes cash drawers for point-of-sale systems. Past holdings include Shur-Co, BIX Produce and Gary Platt Manufacturing. PCM buys new platforms, and its Suburban announcement points to a history with niche Midwest manufacturers.
Recent deals
Announced in the 24 months before October 29, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jul 2025 | TMI CoatingsEagan, Minnesota painting, coatings and restoration contractor for water towers, stacks and other infrastructure; Bell Capital Finance and Northstar Capital provided financing | Platform | Construction Services | Source |
Portfolio by sector
From the firm's portfolio page S1.
Construction Services
- TMI Coatings
Industrial & Manufacturing
- Suburban Manufacturing
- APG Solutions
Past investments: AWT Labels and Packaging, Birchwood Casey, BIX Produce, Gary Platt Manufacturing, Maverick Enterprises, Protolabs, Reliable Property Services, Shur-Co
Greymont’s take
How PCM Companies fits a seller
PCM suits owners of manufacturing, industrial products or industrial service businesses, especially in Minnesota, who want a long-term owner without a fund deadline. Because it invests family money rather than a fund, it can wait to sell until the timing is right, and its announcements stress keeping teams in place. At Suburban the CEO and COO stayed on to run the company and the selling owners kept a minority stake, and TMI's CEO said PCM stood out as a local family office that understood how much keeping the team mattered.
PCM has announced two new platforms since 2023, and its site lists a team of three, so the process tends to be personal. An owner should ask how PCM plans to finance the deal (TMI used bank and junior debt), whether it means to keep the company for good or sell it later, and what role the owner would have after closing.
Questions owners ask
Is PCM Companies a private equity fund?
No. It describes itself as a Twin Cities private investment firm backed by several Minnesota families, with holding periods set by each business rather than by the life of a fund.
What size company does PCM look for?
It targets businesses with at least $10 million of revenue and $2 million to $10 million of EBITDA, and it writes equity checks of $10 million or more per deal.
Can the owner keep a stake after selling to PCM?
It has happened. When PCM bought Suburban Manufacturing in September 2023, the selling owners kept a minority stake, and the CEO and COO stayed on to run the company.
Has PCM bought a service business?
Yes. In July 2025 it invested in TMI Coatings, a contractor that paints, coats and restores industrial and public infrastructure, with financing from Bell Capital Finance and Northstar Capital.
Sources
- S1PCM Companies home page (who we are, investment criteria, team, companies) Accessed October 29, 2026
- S2PCM Companies Adds Platform with Investment in TMI Coatings Accessed October 29, 2026
- S3PCM Companies Adds Platform with Investment in Suburban Manufacturing Accessed October 29, 2026
- S4Northstar Capital Invests in TMI Coatings (July 15, 2025) Accessed October 29, 2026
- S5Aethlon Capital Advises Suburban Manufacturing on the Sale of the Business (PR Newswire, September 6, 2023) Accessed October 29, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with PCM Companies. Figures are as reported on the dates shown and may have changed. Request a correction