Lower middle market private equity firm

Renovo Capital

At a glance

Assets under management$1B (as of Nov 2026) S1
Latest fundRenovo Capital Fund IV, $350M (Aug 2024) S3
Check size$20M to $120M S1
Deal typesPlatform, Add-on S2
SectorsIndustrial & Manufacturing, Software & SaaS

What Renovo Capital buys

Renovo Capital is a Dallas private equity firm, founded in 2009, that buys control of lower middle market companies making technical products or providing technical services. It has raised more than $750 million, reports more than $1 billion of assets under management, and is investing from Fund IV, a $350 million fund that hit its hard cap in August 2024. Its equity investments run from $20 million to $120 million. It works in four areas: advanced manufacturing (sensors in particular), industrial IoT for tracking and remote monitoring, specialty chemicals and coatings, and tech-enabled services built on data and analytics.

Renovo's team includes former operators and degreed engineers who work inside its companies on sourcing, automation, product development and acquisitions. It highlights founder transitions and family-owned businesses as a large share of its deals. Recent platforms include Wasp Barcode Technologies, Pavement Maintenance Group and Quest Specialty in 2024 and ADVEEZ in 2025. A smaller company is more likely to meet Renovo as an add-on, as American Jetway did with Quest Specialty and Res-Tek did with APN Performance Coatings in 2025.

Recent deals

Announced in the 24 months before November 2, 2026.

DateCompanyTypeSectorSource
Sep 2026OtodataPartial exit: GI Partners bought a majority of the tank-monitoring and vehicle-tracking company, and Renovo kept a minority stakeExitSource
Oct 2025Rochester SensorsLiquid level sensor maker sold to Amphenol after a 2018 carve-out and four add-onsExitIndustrial & ManufacturingSource
Sep 2025Res-TekResinous flooring systems maker added to APN Performance CoatingsAdd-onIndustrial & ManufacturingSource
Mar 2025ADVEEZTelematics hardware and software for aviation ground support equipment; Renovo's fifth IoT platformPlatformSource
March 2025American Jetway CorporationAdded to Quest Specialty CorporationAdd-onIndustrial & ManufacturingSource

Portfolio by sector

From the firm's portfolio page S2.

Platform Companies

  • ADVEEZ
  • Quest Specialty Corporation
  • Pavement Maintenance Group
  • Wasp Barcode Technologies
  • APN Performance Coatings (A.P. Nonweiler)
  • Reynolds Lift Technologies
  • Otodata Active (minority since September 2026)
  • DISA Global Solutions Active (minority stake)
  • Summit Casing Equipment
  • States Industries

Past investments: Rochester Sensors, Unicon, Global HR Research, ATTOM Data Solutions

Greymont’s take

How Renovo Capital fits a seller

Renovo fits owners of niche manufacturers, chemical and coatings makers, sensor and monitoring technology companies, and data-driven service businesses who want a hands-on partner. Expect its operators and engineers to work on plant layout, automation, sourcing and product design after closing, and to push for add-ons: Rochester Sensors made four acquisitions before Renovo sold it to Amphenol in 2025.

The firm often stays invested after a partial sale, as it did with DISA in 2022 and Otodata in 2026, which matters to owners who roll over part of their equity. Because its equity checks start around $20 million, a founder with a smaller company will usually fit better as an add-on to one of its platforms. Owners should ask how much operational change Renovo plans for the first year and who would run the business once the founder steps back.

Questions owners ask

How large an investment does Renovo make?

Its home page lists equity investments of $20 million to $120 million. It is investing from Fund IV, which reached its $350 million hard cap in August 2024 after nine months of fundraising.

What industries does Renovo focus on?

Four areas: advanced manufacturing with a long record in sensors, industrial IoT for asset tracking and remote monitoring, specialty chemicals such as coatings, adhesives and sealants, and tech-enabled services centered on data and analytics.

Does Renovo keep a stake after it sells a company?

Sometimes. It kept equity in the combined business when it sold Global HR Research to DISA Global Solutions in December 2022, and it kept a minority stake when GI Partners bought a majority of Otodata in September 2026.

Does Renovo work with family-owned businesses?

Yes. Its home page shows 81% family-owned businesses as one of its headline figures and lists founder transitions and shared upside among the ways it partners with owners.

Sources

  1. S1Renovo Capital home page Accessed November 2, 2026
  2. S2Renovo Capital: Our Portfolio Accessed November 2, 2026
  3. S3Renovo Capital Closes Fund IV at $350 Million Hard Cap (August 19, 2024) Accessed November 2, 2026
  4. S4Renovo Activates Fund IV, Closes New Platforms, Expands Team (October 2, 2024) Accessed November 2, 2026
  5. S5Renovo Capital Acquires ADVEEZ (March 26, 2025) Accessed November 2, 2026
  6. S6APN Performance Coatings Acquires Res-Tek, Inc. (September 30, 2025) Accessed November 2, 2026
  7. S7Renovo Capital Announces Sale of Rochester Sensors to Amphenol Corporation (October 23, 2025) Accessed November 2, 2026
  8. S8GI Partners Acquires a Majority Interest in Otodata Holdings Inc., Partnering with Existing Investor Renovo Capital (September 1, 2026) Accessed November 2, 2026
  9. S9Renovo Capital Announces Sale of Global HR Research to DISA Global Solutions (December 20, 2022) Accessed November 2, 2026
  10. S10Renovo Capital: Tech-Enabled Services Accessed November 2, 2026
  11. S11Renovo Capital: Specialty Chemicals Accessed November 2, 2026
  12. S12Renovo Capital: Industrial IOT Accessed November 2, 2026
  13. S13Renovo Capital: Advanced Manufacturing Accessed November 2, 2026
  14. S14Renovo Capital: Value Creation Accessed November 2, 2026
  15. S15Quest Specialty Corporation home page Accessed November 2, 2026
  16. S16Wasp Barcode Technologies home page Accessed November 2, 2026
  17. S17Renovo Capital Newsroom 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 Renovo Capital. Figures are as reported on the dates shown and may have changed. Request a correction

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