Place-based permanent capital buyout firm (evergreen fund)
Sleeping Giant Capital
- HeadquartersKalamazoo, MI S4
- Founded2020 S4
- Websitesleepinggiantcapital.com
- Last verifiedOctober 29, 2026
At a glance
| Latest fund | Principled Impact Evergreen Fund II, $100M (Sep 2025) S6 |
|---|---|
| EBITDA range | $1M to $10M S2 |
| Deal types | Platform, Add-on S6 |
| Geography | West Michigan S2 |
| Sectors | Industrial & Manufacturing, Accounting & Professional Services |
What Sleeping Giant Capital buys
Sleeping Giant Capital is a Kalamazoo, Michigan, firm founded in 2020 that buys majority stakes in closely held West Michigan companies whose owners need a successor. It looks for businesses with a long record of profits, roughly $1 million to $10 million or more of EBITDA, a home base west of U.S. Route 127, and long-standing customer and supplier relationships. It invests from an evergreen fund, Principled Impact Evergreen Fund II, launched in September 2025 with more than $100 million of initial commitments, so it plans to hold companies for good rather than sell them on a schedule.
Every deal comes with a new owner-operator. The firm trains aspiring CEOs through its Acquire course and CEO-in-Residence program, and one of them takes over running the company at closing, sometimes alongside the existing family. Its holdings so far are mostly manufacturers and industrial equipment and service companies, plus a talent and leadership advisory platform built from two Michigan firms.
Recent deals
Announced in the 24 months before October 29, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Sep 2026 | Pathfinder Systems and Pathfinder ManufacturingHolland equipment integrator and parts supplier for concrete product makers; the founder's son becomes CEO and keeps a significant stake | Platform | Industrial & Manufacturing | Source |
| Apr 2026 | Process Engineering & Equipment Company (PECO)Grand Rapids thermal and fluid systems company with roots back to 1950; a CEO-in-Residence becomes president and the prior owner stays an owner | Platform | Industrial & Manufacturing | Source |
| Sep 2025 | Principled Impact Evergreen Fund IIEvergreen second fund launched with more than $100 million of initial commitments and room to grow to $250 million | Fund close | Source | |
| Jun 2025 | Rep-Lite and Pondera AdvisorsNew Kalamazoo human capital platform joining an outsourced sales talent firm and a leadership consulting firm; the founders stay in leadership roles | Platform | Accounting & Professional Services | Source |
Portfolio by sector
From the firm's portfolio page S5.
Accounting & Professional Services
- Pondera Advisors
Industrial & Manufacturing
- Pathfinder Systems
- Portland Products
- Pro Stamp
- Process Engineering & Equipment (PECO)
- SignComp
Other
- LineDrive
- Rep-Lite
Greymont’s take
How Sleeping Giant Capital fits a seller
Sleeping Giant is built for a West Michigan owner who is ready to step back, has no family or internal successor lined up, and wants the company to stay local. The firm brings the next leader with it: a CEO-in-Residence it has trained and backed, who becomes the new owner-operator. Because its capital is evergreen, there is no plan to resell the company to a bigger buyer in a few years. Sellers can stay involved. At PECO the prior owner kept a stake and moved to growing key sales accounts, and at Pathfinder the founder's son, a longtime employee, took over as CEO.
An owner should ask which CEO-in-Residence would lead the business and how long the two of them will work together before the handoff. It is also worth asking whether the firm expects the seller to keep an ownership stake, as the PECO owner did.
Questions owners ask
Does Sleeping Giant Capital buy companies outside West Michigan?
Its seller criteria ask for companies headquartered in West Michigan, west of U.S. Route 127. One early holding, LineDrive, is based in Itasca, Illinois, but its deals since 2023 have been West Michigan companies.
Will Sleeping Giant Capital sell my company again later?
It says it uses permanent capital and has no fixed exit timeline. Its second fund, launched in September 2025, is evergreen and built to recycle capital into new investments rather than return it on a set schedule.
Who runs the company after Sleeping Giant Capital buys it?
A CEO-in-Residence trained and backed by the firm becomes the owner-operator. Recent examples are Mitch Brownell at PECO in April 2026 and Travis Hilldore, the founder's son, at Pathfinder in September 2026.
What size company fits Sleeping Giant Capital?
It looks for closely held businesses with a long record of profits, roughly $1 million to $10 million or more of EBITDA, and deep local roots with long-term customers and suppliers.
Sources
- S1Sleeping Giant Capital home page Accessed October 29, 2026
- S2Sleeping Giant Capital: Business Owners (fit criteria) Accessed October 29, 2026
- S3Sleeping Giant Capital: About Accessed October 29, 2026
- S4Sleeping Giant Capital: Origin Story (founded 2020 in Kalamazoo) Accessed October 29, 2026
- S5Sleeping Giant Capital: Operating Companies Accessed October 29, 2026
- S6Sleeping Giant Capital Launches Second Fund with Over $100 Million in Initial Commitments (September 23, 2025) Accessed October 29, 2026
- S7Sleeping Giant Capital Invests in Process Engineering & Equipment Company (April 15, 2026) Accessed October 29, 2026
- S8Sleeping Giant Capital Invests in Pathfinder Systems (September 1, 2026) Accessed October 29, 2026
- S9Sleeping Giant Capital Launches Human Capital Advisory and Solutions Platform with Rep-Lite and Pondera Advisors (June 12, 2025) Accessed October 29, 2026
- S10Portland Products and Pro Stamp Combine Forces (October 9, 2024) Accessed October 29, 2026
- S11Sleeping Giant Capital: News 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 Sleeping Giant Capital. Figures are as reported on the dates shown and may have changed. Request a correction