Independent sponsor
Sunlake Capital Partners
- HeadquartersWest Palm Beach, FL S2
- Founded2017 S2
- Websitesunlakecapital.com
- Last verifiedNovember 5, 2026
At a glance
| EBITDA range | $2M+ S3 |
|---|---|
| Deal types | Platform, Add-on, Minority S3 |
| Geography | United States, Canada S3 |
| Sectors | Accounting & Professional Services, Software & SaaS |
What Sunlake Capital Partners buys
Sunlake Capital Partners is a West Palm Beach, Florida investment firm that began formal operations in 2017 and calls itself an independent sponsor. It does not run a fund and says it has no plan to raise one. Capital comes from its principals, aligned family offices and a small group of institutions, and it builds a few long-term platform companies. Its specialty is security, safety and risk management, from guard services and investigations to fire and alarm, traffic control and compliance work, though it also looks at other industries.
It takes control, or a minority stake with control rights, in profitable US and Canadian companies with at least $2 million of EBITDA, with no floor for add-ons. It does not buy start-ups or real estate. It prefers that management keeps or earns real equity. Its main current platform is Sphere Investigations, formed with Mangrove Equity Partners in March 2025. A smaller investigations firm can meet Sunlake as an add-on to Sphere, which it says it is working to grow.
Recent deals
Announced in the 24 months before November 5, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Sep 2025 | Patrol Protect SecureContract security platform built with Mangrove through six add-ons, sold to PalAmerican Security, the US arm of Paladin Security Group | Exit | Source | |
| Aug 2025 | Marshall Investigative GroupField and internet investigations firm added to Sphere Investigations | Add-on | Accounting & Professional Services | Source |
| Mar 2025 | Sphere Investigations (Fraud Sniffr and Phenix Investigations)New fraud and corporate investigations platform formed with Mangrove through two founding purchases | Platform | Accounting & Professional Services | Source |
Portfolio by sector
From the firm's portfolio page S5.
Investigations platform
- Sphere Investigations
- Fraud Sniffr
- Phenix Investigations
- Marshall Investigative Group
Software
- Belfry Software
Past investments: Patrol Protect Secure
Greymont’s take
How Sunlake Capital Partners fits a seller
Sunlake suits owners of security, safety, investigations and risk companies who want a specialist buyer and are willing to keep some equity. It prefers that management keeps or earns a meaningful stake, and it says it can hold longer than most private equity firms while letting owners take money out along the way. Its record is concrete: Patrol Protect Secure started in 2018, made six add-ons, and sold in September 2025.
Both of its platforms were built with Mangrove Equity Partners, so a sale may mean dealing with two sponsors. Since there is no fund, an owner should ask who is putting up the equity on this deal and how the sponsors share control. An owner rolling equity should also ask how long they expect to hold the company.
Questions owners ask
Does Sunlake Capital Partners have a fund?
No. Its story page says it has no aim to raise a conventional fund. Money comes from its principals, aligned family offices and institutional investors with a connection to the industries it backs.
What does Sunlake look for?
US or Canadian companies with at least $2 million of EBITDA and a history of profit, mainly in security, safety and risk management. There is no EBITDA minimum for add-ons, and it does not invest in start-ups or real estate.
Does Sunlake buy investigations firms?
Yes. It formed Sphere Investigations with Mangrove Equity Partners in March 2025 by buying Fraud Sniffr and Phenix Investigations, then added Marshall Investigative Group in August 2025. It said then that it was seeking more investigations firms for Sphere.
Has Sunlake sold a company?
Yes. In September 2025 it announced the sale of Patrol Protect Secure, its contract security platform, to PalAmerican Security, the US subsidiary of Paladin Security Group. It had grown the business through six acquisitions since 2018.
Sources
- S1Sunlake Capital home page Accessed November 5, 2026
- S2Sunlake Capital: Our Story Accessed November 5, 2026
- S3Sunlake Capital: Investment Criteria Accessed November 5, 2026
- S4Sunlake Capital: Approach Accessed November 5, 2026
- S5Sunlake Capital: Investments Accessed November 5, 2026
- S6Sunlake Capital: News Accessed November 5, 2026
- S7Sunlake Capital Announces Sale and Successful Exit of Patrol Protect Secure (September 2, 2025) Accessed November 5, 2026
- S8Sphere Investigations Invests in Marshall Investigative Group (August 28, 2025) Accessed November 5, 2026
- S9Sunlake Capital and Partner Firms Launch Investigations Industry Platform (March 4, 2025) Accessed November 5, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Sunlake Capital Partners. Figures are as reported on the dates shown and may have changed. Request a correction