PRIVATE EQUITY

Relationship-Driven.
Growth-Oriented.
Operationally Focused.

Private Equity

40 +
Total Deals
$2BN
Total Transaction Value

Investment Criteria

$25 200 MM
Revenue
$5 - 20 MM
EBITDA
Control
Majority Recapitalizations
Industrial Services
Healthcare Services
Business Services
Industries
Industrial Services
  • Public Infrastructure
  • Integrated Facilities Management
  • Utility Services
  • Testing, Inspection, Certification & Compliance
  • Modernization & Retrofit Construction
Healthcare Services
  • Home Health
  • Healthcare Staffing & Consultancies
  • Process Outsourcing
  • Physician Practice Management
  • Compliance & Training
Business Services
  • Education, Training, & Development
  • Regulatory & Compliance Services
  • Outsourced Environmental Services
  • Niche Outsourced Services Organizations
  • Data & Market Intelligence

Targeting Opportunity

Bow River Capital’s Private Equity team seeks to form strategic partnerships with middle market founders and management teams leading businesses that are positioned for significant growth. We recognize that an organization's human capital and culture is integral to long-term success and we strive to work with business leaders who share our values and passion for building enduring enterprises. We bring expertise where it is needed – our diverse backgrounds are leveraged to address operational and financial strategy as well as sales performance management and go-to-market planning. Our goal is to support our companies with a committed investment team over the life of an investment, which often includes incremental capital to facilitate organic and inorganic growth.

Bow River Capital’s Private Equity team targets investments in companies that operate within the infrastructure and engineering services, industrial services, healthcare services, and tech-enabled business services industries.


Creating Value

Strategic, Repeatable Process

Through collaboration, our first step in any partnership is developing a customized 100-day strategic plan, which is designed to create scale and opportunity through a focus on organizational development, information systems and automation, resource planning, service line expansion, and add-on opportunities. The strategic plan creates a framework that brings clarity and efficiency to our value creation process.

Experience

Our team brings diverse talent and backgrounds to our portfolio company partners with expertise in institutionalizing operations, evolving financial processes, and identifying and integrating complementary add-on entities.

Focus

Our thematic investment focus is informed by our experience, as well as in-depth industry and market research.

For Owners

No one knows your business better than you. We aim to partner with the best operators in the industry. Bow River Capital invests alongside you and your team to drive our shared goals of building enterprise value while, at the same time, respecting the history and culture of your business. If you are looking for a partner who shares your vision and can move quickly on investment opportunities, please contact us at info@bowrivercapital.com.

Private Equity Team

Greg J. Hiatrides
Greg J. Hiatrides

Managing Director, Private Equity

Gaurav Sharma
Gaurav Sharma

Managing Director, Private Equity

Robert L. Fortier
Robert L. Fortier

Director, Private Equity

Shayan S. Masoudpour
Shayan S. Masoudpour

Director, Private Equity

Jenna A. Schlageter
Jenna A. Schlageter

Director, Private Equity

Adrienne Leonard
Adrienne Leonard

Vice President, Private Equity

Griffin S. Midler
Griffin S. Midler

Vice President, Private Equity

Mark W. Roberts
Mark W. Roberts

Vice President, Private Equity

Ryan M. Conley
Ryan M. Conley

Associate, Private Equity

Current Holdings

Kivu Consulting
NextEdge Networks
Precision Spine Care
Progressive Roofing
Amazing Care Home Health Services
One10
Landmark Aquatic
Exits

Kobelt, founded in 1962 and headquartered in Vancouver, British Columbia, designs and manufactures a diverse line of parts and components including disc brake systems, push-pull controls, hydraulic and electro-hydraulic steering systems, as well as electronic control systems for marine, transportation and industrial uses. The company has a broad and respected marine controls division – arguably the “gold standard” for push–pull pneumatic-hydraulic control systems for larger vessels. Kobelt has set itself apart from the competition by continued investment in research and development. Kobelt’s use of non-corrosive, reliable die-cast bronze has resulted in its reputation for excellent design and long-lasting products under the most challenging of use environments. Kobelt has an established global network of distributors.

AUC Group is an industry leading wastewater treatment plant design, manufacturing, installation and specialty finance company headquartered in Houston, Texas, and founded in 1970. AUC has completed over 1000 wastewater treatment plants in its 45-year history, with a focus on facilities with capacity of up to 1.5 million gallons per day. AUC’s core business is its lease plant program. Historically, new residential developments have installed permanent wastewater treatment plants sufficient to meet the needs of an entire subdivision at the outset of a development. AUC developed a market niche by offering turnkey, scalable wastewater treatment plants that could be expanded over time. These plants are leased to customers, which primarily consist of Municipal Utility Districts. In July 2014, AUC acquired Gaylord Investment Company, a Houston-based wastewater treatment plant leasing company.

Holman Boiler Works is one of the largest boiler service companies in the South Central U.S. Since being established in 1947, Holman has developed from a used boiler equipment “marketplace” into a leading boiler service company with five major business lines including: service and repair of boiler systems, rental of boiler systems, new and used boiler and boiler related equipment sales, tube fabrication, and aftermarket parts sales. In addition to having developed an excellent reputation for its service and repair work, Holman represents a best of breed group of boiler and boiler related product OEMs. Headquartered in Dallas, Texas, Holman operates out of nine locations around the U.S.

Professional Pediatric Home Care (“PPHC”) is a Denver, Colorado based home nursing and therapy services company which was established in 1979 to assist children, who have been discharged from the hospital, with their ongoing medical and developmental needs. The company specializes in long term pediatric care by providing nursing care which includes registered nurses and licensed practical nurses. Additionally, PPHC provides therapy to children through the use of physical therapists, occupational therapists and speech therapists.

RailPros is a comprehensive provider of outsourced services to the freight and transit/commuter rail industries. RailPros provides turnkey engineering, project/program and construction management, and flagging safety services. The company has a strong mix of private and public customers serving transit authorities, municipalities, as well as freight railroads. The services offered by RailPros alleviate the need for customers to recruit, train and retain the requisite technical talent internally to perform these mission-critical functions. Recognized as an industry leader, RailPros has rapidly expanded throughout the country and now services customers nationwide.

Veregy is a premier Energy Services Company (“ESCO”) with advanced technologies to address the rapidly growing energy efficiency and long term master planning needs of public entities. Across the U.S., Veregy’s offerings provide comprehensive infrastructure upgrades, energy management and energy efficiency solutions in mechanical, plumbing, lighting, solar, battery storage, geothermal and customizable building control systems in addition to ongoing facility management and maintenance services. The collective enterprise has delivered billions in energy performance contracts for academic, municipal, healthcare, commercial and federal facilities across 32 states.

Ocean Tomo is a provider of financial services related to intellectual property and intangible assets including financial expert testimony, intellectual property and complex financial instrument valuation, strategy consulting, risk and regulatory compliance, patent analytics, investment advisory, innovation management consulting, and transaction brokerage. The Company’s services are built upon more than three decades of experience valuating intellectual property in the most rigorous of venues – state, federal and international courts.

Founded in 1991 and based in Houston, Texas, Ely & Associates is an industry leading petroleum engineering and consulting firm. The company specializes in providing design, evaluation and quality control of hydraulic well stimulation. The supervision provided by Ely ensures that the job proceeds smoothly, and according to the design. This niche is arguably the single most important variable that determines the economics of a well. With a staff of more than 80 engineers, Ely is the largest frac well optimization company in the U.S.

Founded in 1994 and based in Golden, Colorado, Peak Power is a market leading engineering firm serving the electric power infrastructure industry. Peak Power provides a full suite of services to the power infrastructure space with a focus on transmission and distribution, including substation design, transmission line design, distribution systems engineering, industrial power systems, power quality and power system studies. With 20 years of experience and more than 3,000 projects under their belt, the Peak Power team has expert professionals delivering a suite of services to power generation developers, electric cooperatives, investor-owned utilities, large industrial customers and municipalities.

Founded in 1994, and headquartered in Loveland, Colorado, Prosci provides companies around the world with its proprietary models, processes, and tools to implement effective change management. Prosci has conducted research with more than 2,600 organizations to develop the knowledge which is the basis for its content offerings. Prosci’s content is sold and delivered in the form of written materials, off-site and on-site training and licenses. The market for change management is industry agnostic and as a result, Prosci’s customer base includes companies from almost every industry sector. They provide products and services to many of the world’s largest organizations, including 60% of Fortune 100 companies.

Strong-Bridge Envision is a management consulting firm that provides strategic leadership, transformation and executional excellence for organizations ranging from startups to corporations. Working side-by-side with clients in technology, telecom/mobile, healthcare, retail and travel, Strong-Bridge Envision helps businesses generate results through customer experiences that are optimized for their industry. Specific areas of expertise include Pragmatic Strategy, Customer Experience Design, Digital Transformation, Product and Project Management, Technology Solutions, Performance Improvement and Program Leadership.

News & Insights

Bow River Capital Completes Strategic Investment in Westport Pools and Progressive Commercial Aquatics to Form Landmark Aquatic

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Bow River Capital Expands Private Equity Team With Two Senior Hires

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Bow River Capital Raises $590 Million for Its Third Private Equity Fund

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Bow River Capital Completes Strategic Investment in Performance Improvement Leader, One10

Minneapolis, MN and Denver, CO - June, 13, 2022 - One10 LLC, a leader in performance improvement solutions, announced today a strategic investment from Bow River Capital (“Bow River”), a Denver-based private equity firm focused on human capital businesses. This partnership represents the first of many global growth initiatives for One10 as it continues to expand the firm’s industry-leading capabilities and service offerings.

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Bow River Capital Completes Strategic Investment in Amazing Care, a Leading Provider of Pediatric Home Health Services

Denver, CO – May 3, 2022 – Bow River Capital (“Bow River”), a private equity firm based in Denver, Colorado, announced today that it completed the recapitalization of Amazing Care Home Health Services (“Amazing Care” or the “Company”) from 3 Rivers Capital (“3RC”) on December 31, 2021.

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Bow River Private Equity Team Completes Sale of Ocean Tomo

JERICHO, N.Y. – March 30, 2022 – J.S. Held, a global consulting firm, announced today that it has acquired Ocean Tomo LLC, an expert advisory firm specialized in Intellectual Property (IP) and other intangible assets; corporate accounting investigations; regulatory and reporting obligations; solvency and restructuring; and contractual or competition disputes.

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Ben Schnakenberg Joins Bow River Capital as Managing Director on the Private Equity Team

Private Equity Veteran Ben Schnakenberg Appointed Managing Director at Bow River Capital

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Bow River Capital Recapitalizes Progressive Roofing

Bow River Capital's Private Equity Team Recapitalizes Progress Roofing, A Leading Provider of Commercial Roofing Services

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Bow River Capital Expands NextEdge, its Telecommunications Services Platform with Acquisitions of Tachyon and Spectrum Services

Bow River Capital (“Bow River”) announced today that its telecommunications services platform, NextEdge, has completed the acquisitions of Atlanta-based SBS Services Holdings, LLC and its subsidiaries, a portfolio company of MSouth Equity Partners, (“Tachyon”) and Las Vegas-based Spectrum Services, LLC (“Spectrum”).

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Ocean Tomo Acquires Veris Consulting

Ocean Tomo’s acquisition of Veris Consulting expands the firm’s Financial Expert, Management Consulting, and Advisory services beyond its historical focus on Intellectual Property matters. The combined firm comprises more than eighty professionals, with multiple globally recognized experts.

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Modus Moves Up To Mid-Market Leader With SiteTracker

Modus, a turnkey telecom services company, is “pioneering 5G mobile networks,” through strategic collaboration with mobile network operators and municipalities alike. Modus oversees several stages of network deployment, from pragmatic RF engineering and design, through critical maintenance.

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Bow River Capital Completes Sale of Veregy, An Award-Winning Energy Efficiency Solutions Provider

Bow River Capital (“Bow River”) announced today that it has completed the sale of Veregy to Court Square Capital (“Court Square”). Veregy is a technology forward, leading independent energy services company (“ESCO”) that offers energy efficiency solutions and smart building technologies. At its core, Veregy develops and implements customized strategies to resolve facility infrastructure challenges…

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Titan Grove Completes Sale of Modus, A Leading Provider of 5G Infrastructure Services, To Bow River Capital

Modus is the first certified B Corp in the telecom infrastructure industry and its sale represents a watershed event for the sector. Modus plays an important role in the nation’s 5G buildout, which will be a key enabler of transformational changes across industries and radically improve how people and devices connect. The deployment…

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Bow River Capital Exits RailPros

Bow River Capital (“Bow River”) today announced that it has sold its interest in the RailPros companies (“RailPros” or “the Company”) to Court Square Capital (“Court Square”). RailPros is the leading provider of outsourced safety management, design & engineering, inspection, site & program management, utility observation, and training services to rail operators, utilities, state DOTs…

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Bow River Bulletin | Private Equity Can Thrive in Market Downturns

While the COVID-19 global pandemic has created unforeseen challenges for investors across the globe, private equity firms may be well-positioned to take advantage of the opportunities that lie within a market downturn. According to a recent Harvard Business School study,1 private equity (PE) backed companies were found to significantly outperform non-PE backed companies during recessionary…

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Veregy, Bow River Capital's National Energy Services Company, Expands Services, and Geographic Reach With Additional Acquisitions

On April 21, Veregy, a Bow River Capital portfolio company, acquired Texas-based Four Star Fabricators and Service Company, LLC, and Four Star Mechanical, LLC (together, “Four Star”). These transactions mark the seventh and eighth acquisitions under the unified Veregy platform. The partnership with the owners of Four Star, Chris Slaughter, Candsis Slaughter, and Brian Bowman,…

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