Junior capital investor (subordinated debt and minority equity)
Spring Capital Partners
- HeadquartersLutherville, MD S2
- Founded1999 S2
- Websitespringcap.com
- Last verifiedNovember 4, 2026
At a glance
| Revenue range | $10M to $150M S2 |
|---|---|
| Check size | $4M to $25M S2 |
| Deal types | Minority, Growth S2 |
| Geography | United States S2 |
| Sectors | Industrial & Manufacturing, Consumer & Food, Transportation & Logistics, Construction Services, Healthcare Services |
What Spring Capital Partners buys
Spring Capital Partners is a Maryland junior capital firm, based in Lutherville with a second office in Conshohocken, Pennsylvania. Since 1999 it has raised close to $1 billion across five funds and backed more than 95 companies. It usually invests $4 million to $25 million as subordinated debt paired with a minority equity stake or warrants, in companies with roughly $10 million to $150 million of revenue. Larger commitments are possible with co-investors.
Spring is a generalist. It wants mature, profitable businesses with predictable results, defensible positions and managers who own a real share of the company. Its money supports buyouts, acquisitions, growth and recapitalizations that give founders or family members cash. Nearly all of its recent deals have sat behind a lead buyer: Clifton & Co. at JOTS Rentals, Mosaic Capital Partners at Southern Shade Tree Company and Bochi Investments at Rottler Manufacturing. A smaller company is most likely to meet Spring through the sponsor or independent sponsor buying it.
Recent deals
Announced in the 24 months before November 4, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Aug 2026 | JOTS RentalsSubordinated debt and common equity behind Clifton & Co.'s purchase, with Centerfield Capital Partners | Investment | Source | |
| Aug 2026 | Southern Shade Tree CompanySubordinated debt and equity behind Mosaic Capital Partners' purchase, with Pine Street Capital Partners and Southfield Mezzanine | Investment | Source | |
| Jan 2026 | Embarq CreativeSubordinated debt and common equity behind Enceladus Partners' purchase of the trade show exhibit company | Investment | Source | |
| Dec 2025 | Rottler ManufacturingSubordinated debt and equity behind Bochi Investments' purchase of the CNC machine maker, with SharpVue Capital and Cyprium Partners | Investment | Industrial & Manufacturing | Source |
| May 2025 | UBIF USASubordinated debt with equity features to combine three uBreakiFix franchise groups, formed by DFT Partners | Investment | Source | |
| Apr 2025 | FiberTex & SupplySubordinated debt and common equity for Forfend Industries' purchase of this marine hand safety tool maker, with Merion Investment Partners | Add-on | Industrial & Manufacturing | Source |
| Feb 2025 | Willamette Valley Meat Co.Subordinated debt and common equity behind Bochi Investments' purchase, with SharpVue Capital and Cyprium Partners | Investment | Consumer & Food | Source |
Portfolio by sector
From the firm's portfolio page S3.
Construction Services
- PirTano Construction
Consumer & Food
- Catalina Finer Food
- Willamette Valley Meat Company
Healthcare Services
- HomeCentris
Industrial & Manufacturing
- Architectural Polymers
- Chibuzo
- Forfend Industries
- Oakley Signs
- Palmetto Adhesives
- PowerTech
- Rottler Manufacturing
- Star Step Performance Coatings Group
Transportation & Logistics
- ACS Logistics Holdings
- Best Warehousing & Transportation
Other
- 4AllPromos
- Amplify
- Embarq Holdings
- EverOps
- Ingo
- JOTS Rentals
- Pacific Aviation
- Perimeter Insect Guard
- Pierce Washington
- Purple RTO Holdings
- Southern Shade Tree Company
- Tabula Rasa Holdings
- TalentBridge
- UBIF USA
- Universal Med Apparel (Scrubs on Wheels)
Greymont’s take
How Spring Capital Partners fits a seller
Spring is rarely the buyer an owner sits across from. It usually helps finance a sponsor's purchase, so an owner selling to an independent sponsor may find Spring among the investors without having met it. It can also suit an owner who wants cash from a recapitalization or growth money without selling control, as long as the company can carry the debt.
Its debt usually runs five years at a fixed rate with no principal payments along the way, which eases cash flow but leaves a large balance due at the end. Its recent deals span landscaping, meat processing, machine tools and trade show services, so it does not need a particular industry. An owner should ask who will control the company after closing and how the debt gets repaid or refinanced when the term ends.
Questions owners ask
Does Spring Capital Partners buy whole companies?
Generally no. It invests subordinated debt with a minority equity stake or warrants, and its recent deals have backed a lead buyer such as Clifton & Co., Mosaic Capital Partners or Bochi Investments.
What size of company fits Spring Capital Partners?
Revenue is typically between $10 million and $150 million at the time of investment. Spring puts in $4 million to $25 million, with larger amounts possible through co-investors.
Does Spring invest in portable restroom or dumpster businesses?
It has, in a junior role. In August 2026 it provided subordinated debt and common equity to support Clifton & Co.'s purchase of JOTS Rentals, an East Texas portable restroom and roll-off dumpster company.
Sources
- S1Spring Capital Partners home page Accessed November 4, 2026
- S2About Spring Capital Accessed November 4, 2026
- S3Spring Capital Partners: Portfolio Accessed November 4, 2026
- S4Spring Capital News Accessed November 4, 2026
- S5Spring Capital Closes New Investment in Rottler Manufacturing (December 30, 2025), first release naming SCP V Accessed November 4, 2026
- S6Spring Capital Announces the Closing of its Fourth Fund (October 15, 2020) Accessed November 4, 2026
- S7Spring Capital Closes New Investment in JOTS Rentals (August 21, 2026) Accessed November 4, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Spring Capital Partners. Figures are as reported on the dates shown and may have changed. Request a correction