Midwest private equity sponsor investing partner capital alongside outside investors
Thirty31 Partners
- HeadquartersHuxley, IA S5
- Websitethirty31partners.com
- Last verifiedNovember 3, 2026
At a glance
| EBITDA range | $1M+ S2 |
|---|---|
| Check size | $3M+ S2 |
| Deal types | Platform, Minority, Growth S2 |
| Geography | Midwest US S1 |
| Sectors | Environmental & Waste, Industrial & Manufacturing, Transportation & Logistics |
What Thirty31 Partners buys
Thirty31 Partners is a small private equity sponsor based in Huxley, Iowa that backs Midwest companies going through an ownership change. Its partners put their own money into each deal next to money from outside investors. The firm says it will look at most industries but leans toward manufacturing and business services, and its current holdings match that: two centrifuge repair businesses, a CNC machine shop, an injection mold maker, a millwright contractor for ethanol plants, an Iowa trucking company and an Ames auto parts and vehicle recycler.
The size floor is low. Thirty31 wants at least $1 million of EBITDA and invests $3 million or more. It can take a controlling stake or a minority one, and it usually pairs equity with subordinated debt that pays interest from the start. Deal types include management buyouts, recapitalizations, partial cash-outs for shareholders, growth and acquisition financing, and ESOP deals. The partners act as board-level advisors and leave daily management to the existing team.
Recent deals
Announced in the 24 months before November 3, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Oct 2025 | Jerry Carney & SonsSecond-generation family auto parts and vehicle recycling business in Ames, Iowa; brand, managers and staff stay in place | Platform | Environmental & Waste | Source |
Portfolio by sector
From the firm's portfolio page S4.
Environmental & Waste
- Jerry Carney & Sons
Industrial & Manufacturing
- CornBelt Industrial
- Innovative Machine Works
- Innovative Technologies
- Kubco Services
- Preferred Tool
Transportation & Logistics
- All Star One Logistics
Greymont’s take
How Thirty31 Partners fits a seller
Thirty31 suits a Midwest owner of an established, profitable company, with about $1 million of EBITDA or more, who would rather sell to a local group than to a large national fund. Its October 2025 purchase of Jerry Carney & Sons shows the pattern: a second-generation family business in Ames, bought with support from a local bank, kept its name, managers and staff after the sale. Because the firm can also take a minority stake, an owner who wants some cash now but is not ready to give up control has an option here.
Two questions are worth asking early. The firm says it invests its partners' own money alongside its investors and names no fund, so ask how the equity and debt for your deal will be lined up and how certain that money is. Also ask how much subordinated debt the structure carries and what it means for cash flow after closing.
Questions owners ask
Does Thirty31 Partners only buy manufacturers?
No. It calls itself industry agnostic with a lean toward manufacturing and business services. Its holdings also include an Iowa trucking company and Jerry Carney & Sons, an Ames auto parts and vehicle recycling business it bought in October 2025.
What size company does Thirty31 Partners look for?
Its published criteria call for at least $1 million of EBITDA and an investment of at least $3 million, at a company with an experienced management team, strong cash flow and a growing share of an established market.
Will Thirty31 Partners take a minority stake?
Yes. It says it takes meaningful equity stakes that can be control or non-control, usually paired with subordinated debt that pays current interest, and it lists ESOP deals and shareholder liquidity events among its transaction types.
Does management stay after Thirty31 Partners invests?
The firm says its partners act as board-level advisors rather than day-to-day operators. After the Jerry Carney & Sons deal, the company kept its branding, its management and its staff.
Sources
- S1Thirty31 Partners home page Accessed November 3, 2026
- S2Thirty31 Partners: Investment Strategy & Criteria Accessed November 3, 2026
- S3Thirty31 Partners: Who We Are Accessed November 3, 2026
- S4Thirty31 Partners: Portfolio Accessed November 3, 2026
- S5Thirty31 Partners Acquires Jerry Carney & Sons, Inc. (Ames Regional Economic Alliance media release, October 10, 2025) Accessed November 3, 2026
- S6Thirty31 Partners: Meet the Team Accessed November 3, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Thirty31 Partners. Figures are as reported on the dates shown and may have changed. Request a correction