Middle market private equity firm
Trive Capital
- HeadquartersDallas, TX S1
- Founded2012 S7
- Websitetrivecapital.com
- Last verifiedOctober 19, 2026
At a glance
| Assets under management | $8B (as of Oct 2026) S1 |
|---|---|
| Latest fund | Trive Capital Fund V, $2.7B (Apr 2025) S5 |
| Revenue range | $40M to $1.5B S3 |
| Check size | Up to $250M S3 |
| Deal types | Platform, Add-on, Minority S3 |
| Geography | North America S3 |
| Sectors | Industrial & Manufacturing, Healthcare Services, Consumer & Food, Transportation & Logistics, Distribution, Auto Services & Collision, IT Services & MSP, HVAC, Plumbing & Electrical |
What Trive Capital buys
Trive Capital is a Dallas firm, founded in 2012, that puts both equity and debt into middle market companies. It leans toward situations other buyers find messy: family businesses planning a handoff, corporate carve-outs, take-privates and companies that need operational repair. It is not tied to one industry. Platforms from the past two years include aerospace and defense manufacturers, a California collision repair group, a vacation rental manager, a restaurant chain, a fitness franchisee, a fuel distributor and a healthcare business.
It runs three strategies. Control buyouts target North American companies with $40 million to $1.5 billion of revenue and invest $10 million to $250 million per platform. Structured capital offers the same amount as non-control debt or preferred equity to owners who want cash or growth money without selling. A small cap strategy takes control of smaller companies with less than $10 million invested. Smaller owners can also meet Trive as an add-on: its published add-on list asks for managed IT providers, residential HVAC, plumbing and electrical contractors, home health agencies and more.
Recent deals
Announced in the 24 months before October 19, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jul 2026 | KittyhawkHot isostatic pressing services provider sold to Machine Sciences, a Viking Global portfolio company | Exit | Industrial & Manufacturing | Source |
| Apr 2026 | Polar TechnologyUK maker of composite and metal assemblies for aerospace, defense, automotive and medical customers | Platform | Industrial & Manufacturing | Source |
| Mar 2026 | Adrianna PapellNew York women's occasionwear brand founded in 1980; existing management stays in place | Platform | Consumer & Food | Source |
| Feb 2026 | Rolfson Oil and Flint Logistics GroupFuel and lubricants distributor to the energy sector, followed at once by the Flint add-on in Oklahoma | Platform | Distribution | Source |
| Feb 2026 | PavConFounder-led predictive analytics firm serving the U.S. defense department | Platform | Source | |
| Dec 2025 | Dealers Choice Auto TransportSpecialty vehicle transport for dealers and auctions, added to RPM Freight Systems | Add-on | Transportation & Logistics | Source |
| Dec 2025 | Professional Automotive Relocation Services (PARS)Corporate fleet relocation and vehicle storage, added to RPM Freight Systems | Add-on | Transportation & Logistics | Source |
| Dec 2025 | FairgameLondon social entertainment venues added to Tenpin Entertainment | Add-on | Source | |
| Nov 2025 | Illumis GlobalAccounts payable recovery audit firm, the base for a planned vendor management platform | Platform | Accounting & Professional Services | Source |
| Nov 2025 | AvariShort-term vacation rental management platform with more than 6,000 units in six states | Platform | Property Management & HOA | Source |
| Oct 2025 | Vivaya HealthFertility and IVF services platform; date from the firm's portfolio page | Platform | Healthcare Services | Source |
| Sep 2025 | Spacetime EngineeringGround antenna feed maker added to Vitesse Systems | Add-on | Industrial & Manufacturing | Source |
| Sep 2025 | Canopy Aerospace & DefenseNew advanced materials platform formed by combining Hera Technologies and MSM Industries | Platform | Industrial & Manufacturing | Source |
| Apr 2025 | Trive Capital Fund VFinal close at $2.7 billion, above its $2.5 billion target | Fund close | Source | |
| Mar 2025 | BPK TechnologiesCustom software developer for dental and healthcare clients, added to Veltris | Add-on | IT Services & MSP | Source |
| Mar 2025 | PeopleKeysBehavioral assessment provider added to Pryor Learning | Add-on | Education | Source |
| Mar 2025 | Karman Space & DefenseListed on the NYSE in an upsized IPO in February 2025, Trive's first IPO | Exit | Industrial & Manufacturing | Source |
| Feb 2025 | Independent Forgings & AlloysUK forging manufacturer for aero engines and defense systems | Platform | Industrial & Manufacturing | Source |
| Feb 2025 | Chilton Auto BodyFamily-founded California collision repair group with 20 shops and an EV repair focus | Platform | Auto Services & Collision | Source |
| Nov 2024 | Crunch CanadaMaster Crunch Fitness franchisee for Canada, with 808 Capital Partners | Platform | Source | |
| Oct 2024 | Cohn & Gregory SupplyTexas pipe, valve and fittings distributor added to Venturi Supply | Add-on | Distribution | Source |
| Oct 2024 | Mo' BettahsMajority stake in the Hawaiian fast-casual chain, alongside Blue Marlin Partners | Platform | Consumer & Food | Source |
Portfolio by sector
From the firm's portfolio page S4.
Aerospace & Defense
- Canopy Aerospace & Defense
- Field Aerospace
- Independent Forgings & Alloys
- Karman Space & Defense
- Lyntris
- PavCon
- Polar Technology
Automotive
- Chilton Auto Body
- Premium Guard
Business Services
- Illumis Global
- OWL Services
Consumer Products & Services
- Adrianna Papell
- Avari
- SSW Advanced Technologies
- Thriving Brands
Education
- Pryor Learning
Energy
- Rolfson Oil
Food & Beverage
- ColdTrack
- Rubicon Bakers
- Woody's Brands
Health & Wellness
- Crunch Canada
- JF Fitness of North America
Healthcare
- Choice Health at Home
- Empower Healthcare Solutions
- Formula Wellness
- Valor Healthcare
- Vivaya Health
Industrial Distribution
- Venturi Supply
Insurance Services
- Claim Assist Solutions
IT Services
- Veltris
Leisure and Entertainment
- Tenpin Entertainment
Real Estate & Specialty Finance
- NuBridge Commercial Lending
Residential Services
- Cascade Services
Restaurant
- HTeaO
- Mo' Bettahs
Retail
- FoundRae
Technology, Media & Telecom
- Avatara
- Clipper Media Holdings
- EarthLink
- Terraboost Media
- Wilson Connectivity
Transportation & Logistics
- RPM Freight Systems
Greymont’s take
How Trive Capital fits a seller
Trive suits owners whose situation does not fit a tidy auction: a family business with no clear successor, a company that needs money and hands-on help to fix operations, or a division a parent company wants to shed. Because it can buy control or provide non-control structured capital, an owner who is not ready to sell outright can still take some cash off the table. In the Chilton Auto Body deal, Mike Chilton, who joined his father's shop in 1984, stayed on as CEO to lead the next phase.
Owners of managed IT, residential HVAC and plumbing, collision repair or home health businesses should check Trive's add-on list first, since selling to one of its platforms is often the most direct path. Two questions to ask early: is the offer a control purchase or structured capital with repayment terms, and what operational changes does Trive plan in year one?
Questions owners ask
Does Trive Capital buy collision repair or IT services companies?
Yes. In February 2025 it invested in Chilton Auto Body, a California collision repair group with 20 shops that dates to 1969. Its January 2026 add-on criteria also ask for managed service providers and IT outsourcing firms serving small and mid-sized businesses, to join its Avatara platform.
What size company does Trive look for?
Its control buyout strategy targets North American companies with $40 million to $1.5 billion of revenue and invests $10 million to $250 million per platform. A separate small cap strategy takes control positions with less than $10 million invested and asks only that the company has revenue and positive cash flow.
Can an owner raise money from Trive without giving up control?
Yes. Its structured capital strategy puts $10 million to $250 million of debt or structured equity into profitable or historically profitable companies without taking control. In August 2025 Trive said it had backed 15 platforms this way over five years, funding owner liquidity, growth and acquisitions.
Does Trive work with family-owned businesses?
Transition planning for private and family businesses is one of the situations Trive lists as a good fit. When it sold Kittyhawk in July 2026, the company's CEO said Trive had been the first institutional partner for a business that was family-owned for more than 40 years.
Sources
- S1Trive Capital home page Accessed October 19, 2026
- S2Trive Capital: Firm Overview Accessed October 19, 2026
- S3Trive Capital: Investment Strategy & Criteria Accessed October 19, 2026
- S4Trive Capital: Investment Portfolio Accessed October 19, 2026
- S5Trive Capital Announces the Final Closing of Trive Capital Fund V (April 3, 2025) Accessed October 19, 2026
- S6Trive Capital Portfolio Add-On Criteria (January 2026) Accessed October 19, 2026
- S7Trive Capital Celebrates 10 Years (July 19, 2022) Accessed October 19, 2026
- S8Trive Structured Capital: 15 Platforms in 5 Years (August 13, 2025) Accessed October 19, 2026
- S9Trive Capital Partners with Chilton Auto Body (February 13, 2025) Accessed October 19, 2026
- S10Trive Capital Announces Sale of Kittyhawk, Inc. (July 16, 2026) Accessed October 19, 2026
- S11Trive Capital: Press & 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 Trive Capital. Figures are as reported on the dates shown and may have changed. Request a correction