Lower middle market private equity firm
Prospect Partners
- HeadquartersChicago, IL S5
- Founded1998 S2
- Websiteprospect-partners.com
- Last verifiedOctober 19, 2026
At a glance
| Latest fund | Prospect Partners Fund V, $225M (Oct 2024) S4 |
|---|---|
| EBITDA range | $3M to $10M S2 |
| Revenue range | $15M to $100M S2 |
| Deal types | Platform, Add-on S4 |
| Geography | United States S2 |
| Sectors | IT Services & MSP, HVAC, Plumbing & Electrical, Roofing, Industrial & Manufacturing, Distribution, Consumer & Food |
What Prospect Partners buys
Prospect Partners is a Chicago firm that has backed small, founder-led companies since 1998. It targets businesses with $3 million to $10 million of EBITDA and $15 million to $100 million of revenue, takes majority control, and invests anywhere in the United States. Its four target areas are specialty services, niche manufacturing, value-added distribution, and food and consumer products. Deals are usually recapitalizations alongside management, build-ups, corporate carve-outs or generational transitions, and the firm prefers fragmented industries with recurring revenue where add-ons can drive growth.
Its current fund, Fund V, closed at its $225 million hard cap in October 2024. The firm counts more than 190 transactions and about 60 platforms built. A company below Prospect's size floor is most likely to meet it as an add-on: Entech is buying managed IT and cybersecurity firms in Florida, Extera is adding commercial roofers around the Great Lakes, and Complete Home Services is looking for Neighborly franchisees and independent home service companies in its markets.
Recent deals
Announced in the 24 months before October 19, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Feb 2026 | C2 Computer ServicesCoral Springs managed IT and cybersecurity provider added to Entech, extending it to Florida's east coast | Add-on | IT Services & MSP | Source |
| Jan 2026 | INOVATIVMaker of carts and workflow systems for creative and technical professionals, added to ProClip | Add-on | Distribution | Source |
| Nov 2025 | LAN InfotechSouth Florida IT support and cybersecurity firm added to Entech | Add-on | IT Services & MSP | Source |
| Jul 2025 | Mansuetto Roofing and Sheet MetalOhio commercial roofer added to Extera Building Solutions; the owner stays on to run the division | Add-on | Roofing | Source |
| Jun 2025 | Wedgewood WeddingsMajority stake sold to TJC after an investment that began in 2014 | Exit | Consumer & Food | Source |
| Jun 2025 | Complete Home ServicesHome services platform formed from five Neighborly franchise brands, including Aire Serv and Mr. Electric, with the existing leaders staying on | Platform | HVAC, Plumbing & Electrical | Source |
| Mar 2025 | All Glass & WindowsFlorida impact window and door dealer recapitalized by Cross Rapids Capital as Prospect exited | Exit | Construction Services | Source |
| Dec 2024 | Bland LandscapingCarolinas commercial landscaper sold to Comvest after seven add-ons under Prospect | Exit | Landscaping | Source |
| Oct 2024 | Central States HVAC SolutionsMichigan commercial HVAC equipment and services company sold to Impact Climate Technologies | Exit | HVAC, Plumbing & Electrical | Source |
Portfolio by sector
From the firm's portfolio page S3.
Niche Manufacturer
- QMI Security Solutions
- Cyclonaire
Specialty Service (B2B)
- Blackwood Solutions
Specialty Service (B2C)
- Complete Home Services
Specialty Service (B2C) / Consumer
- Wedgewood Hospitality Group
Specialty Services (B2B)
- Extera Building Solutions
- Customer Contact Services
- Entech Computer Services
Value-Add Distributor
- ProClip Holdings
Past investments: Central States HVAC Solutions, Bland Landscaping, All Glass & Windows, Waste Harmonics, Minuteman Security Technologies, Owen Equipment, Innovetive Petcare, Summit Fire Protection, Gold Star Foods, Kronos Foods, Pipp Mobile Storage Systems, WaterCo
Greymont’s take
How Prospect Partners fits a seller
Prospect fits the owner of a smaller company, often one that has never had an outside investor, who wants to sell a majority stake but stay involved and keep building. Most of the active companies on its site came in as recapitalizations alongside management, and founders often stay in charge: Joe Fontanesi kept leading Central States after Prospect sold it, and the Bland brothers ran Bland Landscaping through Prospect's ownership and into the next one. The firm adds finance, reporting and acquisition help through what it calls its Entrepreneur Support System.
Holding periods vary widely, from about two years at Central States to more than eleven at Wedgewood, so an owner should ask what exit timing Prospect has in mind for a business like theirs. Owners in IT services, roofing or home services should also ask whether they would be a new platform or an add-on to Entech, Extera or Complete Home Services.
Questions owners ask
What size of company does Prospect Partners buy?
Its stated criteria are $3 million to $10 million of EBITDA and $15 million to $100 million of revenue, for US companies where it can take majority control. Smaller businesses can join its existing platforms as add-ons.
Does Prospect Partners invest in IT services or managed service providers?
Yes. It recapitalized Entech, a Fort Myers, Florida managed IT and cybersecurity provider, in November 2022. Entech has since bought LAN Infotech (November 2025) and C2 Computer Services (February 2026) as it builds across Florida.
How long does Prospect Partners usually own a company?
It varies a lot. Recent exits came after about two years (Central States HVAC, 2022 to 2024), seven years (Bland Landscaping, 2017 to 2024), eight and a half years (All Glass & Windows, 2016 to 2025) and eleven years (Wedgewood, 2014 to 2025).
Sources
- S1Prospect Partners home page Accessed October 19, 2026
- S2Prospect Partners: Our Focus (criteria) Accessed October 19, 2026
- S3Prospect Partners: Our Companies Accessed October 19, 2026
- S4Prospect Partners Closes Oversubscribed Fund V at $225 Million Hard Cap (October 1, 2024) Accessed October 19, 2026
- S5Prospect Partners: News & Press Releases Accessed October 19, 2026
- S6Prospect Partners: Entech Computer Services snapshot Accessed October 19, 2026
- S7Prospect Partners Completes Sale of Central States HVAC Solutions (October 22, 2024) Accessed October 19, 2026
- S8Prospect Partners Establishes Complete Home Services (June 10, 2025) Accessed October 19, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Prospect Partners. Figures are as reported on the dates shown and may have changed. Request a correction