Lower middle market private equity firm (growth buyouts)
Pike Street Capital
- HeadquartersSeattle, WA S1
- Websitepikestreetcapital.com
- Last verifiedOctober 26, 2026
At a glance
| Latest fund | Pike Street Capital Partners (Fund I), $237M (Nov 2020) S5 |
|---|---|
| EBITDA range | $4M to $20M S2 |
| Revenue range | $10M to $100M S2 |
| Deal types | Platform, Add-on S2 |
| Sectors | Industrial & Manufacturing, Distribution, Transportation & Logistics, Healthcare Services |
What Pike Street Capital buys
Pike Street Capital is a Seattle private equity firm that buys majority stakes in business-to-business companies serving professional and technical customers. Its stated range is $4 million to $20 million of EBITDA on $10 million to $100 million of revenue, across four areas: industrial technology, distribution and logistics, business services, and specialty manufacturing. It calls its deals growth buyouts and says it avoids heavy debt so companies can spend on growth. Its operating playbook, S2E, covers sales, product development, operations and hiring.
The firm closed its first fund at $237 million in November 2020. In March 2025 it raised a $199 million continuation fund to keep owning Impel, its water and industrial pump platform, and since then it has added three new platforms: Superior Duct Fabrication, Bennett West and DigiStor. Most of its recent activity is add-ons for Impel, Bennett, Superior, Apollo Optical Systems and US BioTek. Owners of smaller pump and water equipment, sheet metal, agricultural supply, precision tooling or lab testing businesses are most likely to meet Pike Street as an add-on.
Recent deals
Announced in the 24 months before October 26, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Sep 2026 | Coastal Growers SupplyMajority investment by Bennett in a coastal California fertilizer blending, crop chemical and agronomy services company | Add-on | Distribution | Source |
| Jul 2026 | Tru-DuctOceanside, California HVAC sheet metal fabricator added to Superior Duct Fabrication | Add-on | Industrial & Manufacturing | Source |
| Jun 2026 | Haynes Equipment CompanyOlathe, Kansas water and wastewater flow control equipment and service provider added to Impel | Add-on | Distribution | Source |
| Apr 2026 | Air Handlers SupplyLos Angeles area sheet metal and HVAC accessories maker and distributor added to Superior Duct Fabrication | Add-on | Industrial & Manufacturing | Source |
| Mar 2026 | NutriPATHMelbourne, Australia functional pathology lab added to US BioTek Laboratories | Add-on | Healthcare Services | Source |
| Mar 2026 | Turning Point ToolRochester, New York mold and CNC machining shop added to Apollo Optical Systems, with extra equity from Pike Street | Add-on | Industrial & Manufacturing | Source |
| Feb 2026 | California Water ServicesCoalinga, California irrigation and municipal water treatment services company added to Bennett West | Add-on | Source | |
| Jan 2026 | Madera PumpsCentral Valley pump and well services company added to Bennett West | Add-on | Source | |
| Dec 2025 | Riverside, Inc.Idaho electric motor repair, pump service, well drilling and millwright company added to Impel | Add-on | Source | |
| Sep 2025 | DigiStorVancouver, Washington maker of secure, encrypted solid-state drives for defense and government users | Platform | Industrial & Manufacturing | Source |
| Aug 2025 | Bennett WestFamily-led Selma, California provider of water, plant health and energy services to growers, founded in 1929 | Platform | Source | |
| Apr 2025 | Superior Duct FabricationPomona, California fabricator of technical commercial ducting for mechanical and HVAC contractors | Platform | Industrial & Manufacturing | Source |
| Mar 2025 | Impel Company$199 million single-asset continuation vehicle, Pike Street Capital Reserve, led by NorthSands Capital and Painswick Capital | Fund close | Distribution | Source |
| Feb 2025 | Pump DynamicsWashington flow management products and service company added to Impel, adding Arizona | Add-on | Distribution | Source |
Portfolio by sector
From the firm's portfolio page S3.
Current Companies
- Apollo Optical Systems
- Bennett
- DigiStor
- Fair Market
- Impel Company
- Motivational Fulfillment & Logistics Services
- QuickBox Fulfillment
- Superior Duct Fabrication
- US BioTek Laboratories
Past investments: Head Rush Technologies
Greymont’s take
How Pike Street Capital fits a seller
Pike Street fits owners of technical industrial businesses, such as pump and water equipment dealers, precision manufacturers, sheet metal fabricators and specialty distributors, who want a majority partner to help them grow and buy competitors. Families and founders are a stated focus: Bennett, founded in 1929, is still run by fourth-generation CEO Tyler Bennett after Pike Street's August 2025 investment.
Most of its recent deals are add-ons, so many sellers will join an existing platform rather than become a new one. The 2025 continuation fund for Impel shows it will sometimes keep a strong company past a normal fund life, giving earlier investors the choice to cash out or stay in. An owner should ask which fund the equity would come from, how long Pike Street expects to hold, and how much debt the deal would carry.
Questions owners ask
What size companies does Pike Street Capital buy?
Its criteria call for profitable companies with $4 million to $20 million of EBITDA and $10 million to $100 million of revenue, where it can take a majority position.
Does Pike Street Capital buy add-on companies?
Yes, often. Since February 2025 its companies have announced add-ons including Pump Dynamics, Riverside and Haynes Equipment for Impel; Madera Pumps, California Water Services and Coastal Growers Supply for Bennett; Air Handlers Supply and Tru-Duct for Superior Duct; Turning Point Tool for Apollo; and NutriPATH for US BioTek.
What is the Impel continuation vehicle?
In March 2025 Pike Street raised $199 million for Pike Street Capital Reserve, a fund that holds only Impel. Fund I investors could take cash or roll into it, and NorthSands Capital and Painswick Capital led the new money.
Sources
- S1Pike Street Capital home page Accessed October 26, 2026
- S2Pike Street Capital: Our Approach and Investing Criteria Accessed October 26, 2026
- S3Pike Street Capital: Portfolio (current and exited companies) Accessed October 26, 2026
- S4News from Pike Street (dated listing, pages 1 to 5) Accessed October 26, 2026
- S5Pike Street Capital Closes $237 Million Inaugural Fund (November 19, 2020) Accessed October 26, 2026
- S6Pike Street Capital Raises Continuation Vehicle for Impel (March 24, 2025) Accessed October 26, 2026
- S7Bennett West Announces Investment in California Water Services (February 19, 2026) Accessed October 26, 2026
- S8Pike Street Capital Announces Investment in Bennett West, LLC (August 7, 2025) Accessed October 26, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Pike Street Capital. Figures are as reported on the dates shown and may have changed. Request a correction