Lower middle market private equity firm
Southfield Capital
- HeadquartersGreenwich, CT S1
- Founded2002 S1
- Websitesouthfieldcapital.com
- Last verifiedOctober 19, 2026
At a glance
| Latest fund | Southfield Capital IV, $560M (May 2025) S4 |
|---|---|
| EBITDA range | $4M to $20M S2 |
| Check size | $20M to $125M S2 |
| Deal types | Platform, Add-on, Minority S2 |
| Geography | United States, Canada S2 |
| Sectors | Property Management & HOA, Landscaping, HVAC, Plumbing & Electrical, Transportation & Logistics, Accounting & Professional Services |
What Southfield Capital buys
Southfield Capital, based in Greenwich, Connecticut, has invested in lower middle market business services companies since 2002. It looks for profitable, growing firms whose customers cannot easily do without them, in areas such as building and facility services, real estate services, environmental and industrial services, IT and tech-enabled services, logistics, security, human capital and professional services. Current holdings include Property Management Holdings, an HOA and condominium manager in Clearwater, Florida; Osprey Landscape Group; Kelvin Group, an industrial refrigeration services platform; freight forwarder Alba Wheels Up; and Protos Security.
New platforms usually have $4 million to $20 million of EBITDA, and Southfield puts $20 million to $125 million of equity into each, with no size limits for add-ons. It prefers control, including management buyouts and carve-outs, but will consider minority or structured equity, and it likes to be a company's first institutional investor. It invests in the US and Canada from Southfield Capital IV, a $560 million fund closed in May 2025. A smaller company would most often join one of its platforms as an add-on.
Recent deals
Announced in the 24 months before October 19, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jun 2026 | Milrose ConsultantsBuilding code consulting and permit expediting firm sold to Littlejohn & Co. after 14 add-ons | Exit | Accounting & Professional Services | Source |
| Apr 2026 | AT-RISK InternationalWashington, D.C. executive protection and risk consulting firm added to Protos Security | Add-on | Source | |
| Mar 2026 | Metric SearchMajority stake in a specialist executive search firm with US and UK offices; the founder stays as CEO | Platform | Accounting & Professional Services | Source |
| Mar 2026 | Franchise CreatorAdviser to early-stage franchisors, added to Franchise FastLane | Add-on | Accounting & Professional Services | Source |
| Jan 2026 | Contextual.ioAI orchestration platform bought by the firm to support value creation at its portfolio companies | Investment | Software & SaaS | Source |
| Jan 2026 | PermaCold EngineeringPacific Northwest industrial refrigeration contractor, Kelvin Group's 14th acquisition | Add-on | HVAC, Plumbing & Electrical | Source |
| Sep 2025 | Borne ConsultingSan Francisco building envelope engineering firm added to Milrose | Add-on | Accounting & Professional Services | Source |
| Aug 2025 | Mulligan SecurityProtos Security sold its Mulligan Security unit to Allied Universal; the sale closed July 3, 2025 | Exit | Source | |
| Aug 2025 | ARC Private Provider ServicesFlorida permitting and code compliance firm, Milrose's 13th acquisition | Add-on | Accounting & Professional Services | Source |
| Jul 2025 | EarthworksDallas and Houston commercial landscaper serving multifamily, commercial and HOA clients, added to Osprey | Add-on | Landscaping | Source |
| Jul 2025 | Surface Design GroupNew York building envelope design firm joined Milrose | Add-on | Accounting & Professional Services | Source |
| May 2025 | The Perishable SpecialistMiami perishable import logistics firm added to Alba Wheels Up; its owners stay with the business | Add-on | Transportation & Logistics | Source |
| May 2025 | Southfield Capital IVFinal close at $560 million, above the original hard cap | Fund close | Source | |
| Mar 2025 | North Coast LogisticsPetaluma wine trucking company folded into Alba's Cobalt Wine Logistics unit | Add-on | Transportation & Logistics | Source |
| Dec 2024 | Construction SpecificationsNew Jersey architectural specification writer, Milrose's 11th acquisition | Add-on | Accounting & Professional Services | Source |
| Nov 2024 | JS ComplianceProcess safety and environmental compliance consultancy added to Kelvin Group | Add-on | Source |
Portfolio by sector
From the firm's portfolio page S3.
Accounting & Professional Services
- Metric Search
Coaching, Training, and Marketing Strategy Services
- Business Development Resources
Facility Management
- Osprey Landscape Group
Fleet Management Solutions
- TFS
Franchise Management
- Franchise FastLane
HVAC, Plumbing & Electrical
- Kelvin Group
Managed Security Services
- Protos Security
Property Management Services
- Property Management Holdings
Software & SaaS
- Contextual.io
Transportation & Logistics
- Alba Wheels Up
Past investments: Biopharm, Dealers' Financial Services, Hallcon, Milrose Consultants, Ntiva, RCR International, Tier One Relocation, Total Fleet Solutions, Vanguard Dealer Services
Greymont’s take
How Southfield Capital fits a seller
Southfield suits founders of service businesses who have never taken outside capital and want help turning their company into a platform through acquisitions. Its platforms buy steadily: Milrose made 14 add-ons and grew earnings more than sevenfold before Southfield sold it to Littlejohn & Co. in June 2026, and Kelvin Group has made 14 acquisitions under Southfield. Sellers often stay involved, as Bruce Wiseman did as CEO of Business Development Resources and the owners of The Perishable Specialist did after joining Alba. The firm also runs an in-house AI team, Contextual, that it puts to work inside its companies.
For HOA and property management owners, Property Management Holdings is the obvious way in. Ask how long Southfield expects to hold the platform you would join and how much of your proceeds it expects you to reinvest.
Questions owners ask
Does Southfield Capital invest in property management or HOA management companies?
Yes. Since March 2023 it has owned Property Management Holdings, a Clearwater, Florida company that manages HOAs, condominiums, high rises, townhomes and commercial buildings. Its landscaping platform, Osprey, also serves HOA and multifamily customers.
What size business does Southfield look for?
Platform investments usually have $4 million to $20 million of EBITDA, with $20 million to $125 million of Southfield equity. The firm says it has no size limits for add-on acquisitions made by its existing companies.
Does Southfield only do control deals?
Control is its focus, including management buyouts and carve-outs, but its criteria say it is open to minority investments and structured equity. A separate Southfield Mezzanine team also offers debt and minority capital to lower middle market companies.
Sources
- S1Southfield Capital home page Accessed October 19, 2026
- S2Southfield Capital: Investment Criteria Accessed October 19, 2026
- S3Southfield Capital: Portfolio (current and realized) Accessed October 19, 2026
- S4Southfield Capital Closes Oversubscribed Fund IV at $560 Million (May 8, 2025) Accessed October 19, 2026
- S5Southfield Capital: Property Management Holdings Accessed October 19, 2026
- S6Southfield Capital: News 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 Southfield Capital. Figures are as reported on the dates shown and may have changed. Request a correction