Lower middle market structured capital and buyout investor
Plexus Capital
- HeadquartersRaleigh, NC S6
- Founded2005 S6
- Websiteplexuscap.com
- Last verifiedNovember 2, 2026
At a glance
| Latest fund | Plexus Equity Fund II, $345M (August 2025) S2 |
|---|---|
| EBITDA range | $2M to $15M S3 |
| Check size | $15M to $40M S6 |
| Deal types | Platform, Growth S3 |
| Geography | United States S6 |
| Sectors | Environmental & Waste, Landscaping, Industrial & Manufacturing, Software & SaaS, Healthcare Services, Construction Services |
What Plexus Capital buys
Plexus Capital is a Raleigh, North Carolina investor formed in 2005 that puts money into lower middle market companies in the United States. It has raised more than $3.5 billion, counting fund-level borrowing, across seven structured capital funds and two buyout funds, and has backed over 200 companies. Most of its activity is structured capital: a loan paired with an equity stake, used by independent sponsors, search funds, private equity firms and management teams to fund buyouts, recapitalizations and growth. Its $977 million Fund VII, closed in 2025, looks at companies with $2 million to $15 million of EBITDA and writes first checks of $5 million to $25 million.
Plexus also buys control of founder- and family-owned companies through a buyout strategy launched in 2021. Equity Fund II closed at its $345 million hard cap in 2025 and plans to invest $15 million to $40 million of equity per deal in profitable business and essential services companies of the same size. Recent buyouts include Legacy Lawns, a lawn care roll-up, and ACE Solutions, a lubricant and fuel distributor. A smaller owner is most likely to meet Plexus through an independent sponsor or search fund it is financing.
Recent deals
Announced in the 24 months before November 2, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Oct 2026 | True Spin DentalStructured capital for a Texas dental handpiece repair and parts business | Investment | Distribution | Source |
| Jun 2026 | Meridian Home ServicesStructured capital for an Ontario HVAC and plumbing roll-up backed by KCM Holdings Group | Investment | HVAC, Plumbing & Electrical | Source |
| Jun 2026 | IT Service Alliance (ITSA)Structured capital for a provider of managed IT infrastructure services to large enterprises | Investment | Source | |
| May 2026 | TWE SolutionsStructured capital for an integrator of network, cloud and cybersecurity systems | Investment | Source | |
| Mar 2026 | Superior RoofingStructured capital for a Colorado commercial roofer serving schools and government customers | Investment | Roofing | Source |
| Jan 2026 | Numeric Computer Systems (NCS)Structured capital for a direct store delivery software provider | Investment | Software & SaaS | Source |
| Dec 2025 | Lavelle MachineStructured capital for a Massachusetts machinist making medical device parts | Investment | Industrial & Manufacturing | Source |
| Dec 2025 | No-IPStructured capital for a Reno provider of remote device connection services | Investment | Software & SaaS | Source |
| Nov 2025 | MegawattageStructured capital for a Florida commercial generator service and emergency power company | Investment | Source | |
| Nov 2025 | Green Summit Landscape GroupStructured capital for a Midwest commercial and residential landscape management firm | Investment | Landscaping | Source |
| Oct 2025 | Plexus Fund VII and Plexus Equity Fund IIFinal closes totaling more than $1.3 billion: $977 million structured capital fund and $345 million buyout fund, both above target | Fund close | Source | |
| Aug 2025 | Act Fast / NDSStructured capital for a same-day and next-day courier business operating in 32 states | Investment | Transportation & Logistics | Source |
| Aug 2025 | Infinite GlobalStructured capital for a communications firm serving law and professional services firms | Investment | Accounting & Professional Services | Source |
| Jul 2025 | Maher ServicesStructured capital for a Massachusetts water well and pump service company | Investment | Source | |
| Jul 2025 | Fence BuildersStructured capital for a Southeast fence, gate and access control platform | Investment | Construction Services | Source |
| Jun 2025 | Legacy LawnsBuyout of a Georgia-based national lawn care platform | Platform | Landscaping | Source |
| May 2025 | Professional GlassStructured capital for a Tampa commercial glazing subcontractor | Investment | Construction Services | Source |
| Mar 2025 | Soutron GlobalStructured capital for a library and archive management software company | Investment | Software & SaaS | Source |
| Feb 2025 | AEG Petroleum (ACE Solutions)Buyout of a lubricant, fuel and diesel exhaust fluid distributor, later combined with Grade A Petroleum as ACE Solutions | Platform | Distribution | Source |
| Feb 2025 | ChemREADYBuyout of an Ohio supplier of water treatment chemicals, equipment and services | Platform | Source | |
| Dec 2024 | Solution GroupStructured capital for an Indianapolis water and wastewater services and consulting firm | Investment | Environmental & Waste | Source |
Portfolio by sector
From the firm's portfolio page S4.
Buyout / Consumer
- AWG (Aquacomfort Water Group)
- Legacy Lawns
Buyout / Healthcare
- ASPT (Architech Sports & Physical Therapy)
Buyout / Industrials
- ACE Solutions
- ChemREADY
- National Boiler Service
- Riggs Tree Service
- Southern Elevator
- Tigris Aquatic Services
- Yard-Nique
Structured Capital / Consumer
- Annie Aesthetic
- BMG Services, LLC
- BMI Group Holdings, Inc.
- FlowBelow Aero
- Inspired Beauty Brands
- Practis
- PTP Infinite Innovation
- Race Technologies
- Radnor Group Holdings
- Round 2
- Wolf Manufacturing Company, Inc.
Structured Capital / Energy
- UPOP
Structured Capital / Financials
- Evernest Holdings, LLC
Structured Capital / Healthcare
- Accu-Tube, LLC
- BroadcastMed
- Lavelle Machine
- Oakpoint
- Revelation Pharma
- Revive Medical Spa
- Rocket Health Partners
- SurgeryStuff
- U.S. Mobile Health Exams
Structured Capital / Industrials
- A Plus Tree, Inc
- Act Fast / NDS
- Allways Precision
- Arc Drilling
- Climate Efficiency Partners
- Colorado Barricade
- Commercial Truck and Trailer Parts
- Environ Energy Holdings
- EXA Capital
- Fence Builders
- Green Summit Landscape Group
- Guardian Logistics Solutions
- Infinite Global
- Inland Metal Technologies, Inc.
- Machine Specialties
- Maher Services
- Maxway, Inc.
- McDaniel Metals
- MedHQ
- Megawattage
- Meridian Home Services
- MPF Products
- Natural Upcycling, LLC
- Nu-Tek Precision Optics
- PAT Tank
- Professional Glass
- QE Solar
- Quantum Industrial Services
- Radian Generation
- Reindeer Auto Relocation
- S&K Buildings
- Seneca Resources Holdings, LLC
- Smash My Trash
- Solution Group
- Sunrise Landscape
- Superior Roofing
- True Spin Dental
- Tube Bending Technology
- VaLogic
- Western Industries Plastic Products, LLC
- Xclusive Staffing
Structured Capital / Materials
- Frankston Packaging
- Petroflex N.A., LLC
- Team Laboratory Chemical
Structured Capital / Technology
- 360 Quote
- 360 Smart Networks
- AccuTitle
- ACES Risk Management Corp.
- Core Fiber Partners
- ELK Analytics
- IT Service Alliance (ITSA)
- Neovera
- No-IP
- Numeric Computer Systems (NCS)
- Soutron Global
- Sumo
- TaskRay
- Total Resource Management
- TWE Solutions
- VCM Products
- Watermark Solutions
Greymont’s take
How Plexus Capital fits a seller
Plexus fits owners who want to sell to a smaller buyer but still have institutional money behind the deal. In its structured capital deals the lead buyer is often an independent sponsor, search fund or private equity firm, and Plexus supplies a loan plus an equity stake, so the seller negotiates with that buyer while Plexus is a main capital partner. In the April 2026 sale of Superior Roofing, for example, an investor group that included BaseCamp Equity and Plexus completed the founder's succession plan, and the existing leaders stayed on to run the company. Owners of business and essential services companies with $2 million or more of EBITDA can also approach its buyout fund directly.
An owner should ask which Plexus fund would invest, since a structured capital deal adds debt the company must repay, and how much equity the owner could keep or roll over.
Questions owners ask
Does Plexus Capital buy companies outright?
Yes, through its buyout strategy. Equity Fund II, which closed at $345 million in 2025, takes control of profitable founder- and family-owned companies with $2 million to $15 million of EBITDA and plans to invest $15 million to $40 million of equity in each.
What is Plexus structured capital?
It is a loan that comes with an equity stake. Plexus provides it to independent sponsors, search funds, private equity firms and management teams for buyouts, recapitalizations and growth, usually starting at $5 million to $25 million per company.
Does Plexus invest in IT services or environmental services companies?
In environmental services, yes: its buyout fund owns Tigris Aquatic Services, a lake, pond and stormwater management platform. Its 2026 investments in IT Service Alliance, a managed IT infrastructure provider, and TWE Solutions, a network, cloud and security integrator, were structured capital, a loan paired with an equity stake, rather than buyouts. It has financed food waste recycler Natural Upcycling and water services firm Solution Group the same way.
Does Plexus buy landscaping and tree care companies?
It is a recurring theme. Its buyout holdings include Legacy Lawns, Yard-Nique and Riggs Tree Service, and its structured capital funds have backed Green Summit Landscape Group, Sunrise Landscape and A Plus Tree.
Sources
- S1Plexus Capital home page Accessed November 2, 2026
- S2Plexus Capital: About Us (history and fund timeline) Accessed November 2, 2026
- S3Plexus Capital: Our Strategy Accessed November 2, 2026
- S4Plexus Capital: Portfolio and Track Record (active filter and strategy tags) Accessed November 2, 2026
- S5Plexus Capital: News & Media Accessed November 2, 2026
- S6Plexus Capital Raises $1.3 Billion for Two New Funds (October 14, 2025) Accessed November 2, 2026
- S7Superior Roofing Completes Ownership Transition (PR Newswire, April 2, 2026) Accessed November 3, 2026
- S8Plexus Capital: Tigris Aquatic Services portfolio page Accessed November 2, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Plexus Capital. Figures are as reported on the dates shown and may have changed. Request a correction