Family office (investment arm of the Mortenson family)
Vermilion Group
- HeadquartersMinneapolis, MN S1
- Websitevermiliongroup.com
- Last verifiedOctober 26, 2026
At a glance
| EBITDA range | $5M to $15M S3 |
|---|---|
| Revenue range | $10M to $100M S3 |
| Deal types | Platform, Add-on, Minority, Growth S3 |
| Geography | Upper Midwest, Great Lakes S3 |
| Sectors | Industrial & Manufacturing, Distribution, Environmental & Waste, Construction Services |
What Vermilion Group buys
Vermilion Group is the investment office of the Mortenson family of Minneapolis. It buys family-owned and entrepreneur-owned companies in the Upper Midwest and Great Lakes region and plans to own them for generations, not on a fund timeline. Most often it takes majority control through a buyout, but it can also put in growth capital and hold a minority stake, keeping the right to buy the rest when the owner is ready to leave. Industry matters less than steady, profitable growth, and it calls itself an impact investor.
Its stated targets are $5 million to $15 million of EBITDA and $10 million to $100 million of revenue, with a strong management team in place; the home page gives a cash flow range of $5 million to $20 million. It owns four companies: Intek Plastics, Gladwin Machinery Solutions, Millennium and The Great River Group. Deals are infrequent, and the latest dated one is Intek's January 2025 purchase of Five Star Plastics. A smaller company would most likely join one of those four as a bolt-on.
Recent deals
Announced in the 24 months before October 26, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| January 2025 | Five Star PlasticsEau Claire, Wisconsin injection molding and prototyping company added to Intek Plastics as its own division; it took the Intek name in June 2026 | Add-on | Industrial & Manufacturing | Source |
Portfolio by sector
From the firm's portfolio page S4.
Business Services
- The Great River Group
Niche Manufacturing
- Intek Plastics
Specialty Distribution
- Gladwin Machinery Solutions
- Millennium
Greymont’s take
How Vermilion Group fits a seller
Vermilion fits an Upper Midwest family owner who wants a patient, long-term buyer that will keep the company's name, values and team intact. It says management runs the business day to day while its own team works on strategy, governance and oversight, and it offers access to the Mortenson enterprise's resources and network. Owners not ready to sell everything can sell part now, but Vermilion keeps the right to buy the rest later.
It has made few announced deals: four platforms since 2021 and two listed bolt-ons, with nothing dated after January 2025. Owners should ask how the price for any remaining shares will be set, how much say they keep after a minority deal, and how Vermilion's impact goals would shape decisions about the business.
Questions owners ask
Who is behind Vermilion Group?
Vermilion is the investment arm of the Mortenson family, whose family enterprise has been building businesses for more than 70 years. David Mortenson chairs its board, and the office is in Minneapolis.
What size and location does Vermilion look for?
Family, entrepreneur-owned or other private companies based in the Upper Midwest or Great Lakes region with $5 million to $15 million of EBITDA, $10 million to $100 million of revenue and an experienced management team.
Does Vermilion take a minority stake?
It can. Vermilion usually buys a majority, but it says it can also invest growth capital and hold a minority stake, with a discretionary right to buy the remaining equity when the owner decides to exit.
Does Vermilion own an environmental services business?
In part. The Great River Group, a Grand Rapids, Michigan engineering firm it backed in 2021, offers environmental consulting such as Phase I site assessments alongside geotechnical and materials testing work, and says it wants to partner with more environmental firms.
Sources
- S1Vermilion Group home page Accessed October 26, 2026
- S2Vermilion Group: About Us Accessed October 26, 2026
- S3Vermilion Group: Investment Approach Accessed October 26, 2026
- S4Vermilion Group: Portfolio Accessed October 26, 2026
- S5Vermilion Group: Team Accessed October 26, 2026
- S6Intek Plastics Acquires Five Star Plastics (Intek Plastics release) Accessed October 26, 2026
- S7Intek Plastics Unifies Brand, Brings Five Star Plastics Under Intek Plastics Name (June 2026) Accessed October 26, 2026
- S8The Great River Group home page Accessed October 26, 2026
- S9The Great River Group: About GRG Accessed October 26, 2026
- S10The Great River Group: Environmental Consulting Accessed October 26, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Vermilion Group. Figures are as reported on the dates shown and may have changed. Request a correction