CurrentCaldera Industries
A specialty industrial coatings and surface-treatment business serving aerospace and energy customers across the UK. Two add-on acquisitions completed in 2024.
A selection of current and realized investments across our two core geographies. Every company on this page was — and remains — independently led.

CurrentA specialty industrial coatings and surface-treatment business serving aerospace and energy customers across the UK. Two add-on acquisitions completed in 2024.
CurrentCold-chain distribution platform serving independent grocers and food-service operators across northern England and Scotland.
CurrentMulti-site outpatient cardiology platform with twelve clinics across New England. Partnered with founder-CEO to scale the model nationally.
CurrentPrecision-engineered components for the rail and defense industries. Modernised the operations stack with new ERP and demand-planning systems in 2022.
CurrentMission-critical practice-management software for veterinary clinics across the UK and Ireland. Now serving more than 1,200 practices.
CurrentFamily-owned specialty bakery serving regional grocery chains across the US Northeast. Three new production lines added since acquisition.
CurrentField-service management platform and operating company for residential HVAC contractors in the New York metro area.
RealizedSpecialty mechanical and electrical contractor for hyperscale data centers. Sold to a strategic acquirer in 2024 after delivering 3.6× MOIC.
RealizedIndependent diagnostic-imaging operator across the Carolinas. Recapitalized in 2023 with a permanent-capital partner.
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A quarterly letter from the partners on what we're seeing across UK and US lower-mid-market — sectors, valuations and the businesses we're backing. No spam. Unsubscribe anytime.