Top 8 Private Equity Firms In Denver

Denver, Colorado, has emerged as a vibrant hub for private equity investment, attracting firms from across the country with its business-friendly environment, strategic location, and diverse range of industries. For entrepreneurs, management teams, and family-owned businesses looking to scale and succeed, partnering with the right private equity firm can be a pivotal step.

These firms specialize in various sectors, including healthcare, business services, specialty retail, and more, offering the capital, expertise, and growth path necessary for companies to thrive. In this article, we will delve into the top 8 private equity firms in Denver, highlighting their unique investment strategies, industry focuses, and the significant contributions they make to both local and national economies.

1. Mountaingate Capital

The Mountaingate Advantage

Mountaingate Capital has carved out a distinct position in Denver’s private equity landscape with its unique approach and compelling value proposition. Since its founding in 2016, the firm has emerged as a leader in the lower middle-market, focusing on key sectors such as digital, data, and tech-driven marketing/business services, along with value-add specialty manufacturing and distribution.

What sets Mountaingate Capital apart is its unwavering commitment to a customer-focused buy-and-build strategy. This methodology prioritizes organic growth and transformative change, enabling founder-owned businesses to accelerate their growth trajectories while preserving their core values and customer-centric ethos. By leveraging its extensive network and resources, Mountaingate drives innovation and enhances the ability of its partners to better serve their end-customers—a key factor that has attracted entrepreneurs and management teams alike.

Another hallmark of Mountaingate Capital is its recognition as a founder-friendly firm. For five consecutive years, it has been named to Inc.’s list of top founder-friendly private equity firms, a testament to its dedication to supporting the vision and goals of the founders it partners with. Rather than imposing a generic strategy, Mountaingate works collaboratively to ensure its approach aligns with the unique needs of each business. This commitment is further reflected in the firm’s recent success in closing its second fund at $476 million, which was significantly oversubscribed and completed in just three months—a clear indicator of investor confidence in Mountaingate’s strategy and execution.

Thanks to this fundraise, the firm has broadened its investor base to include a diverse set of institutional investors, solidifying its position in the market. Mountaingate Capital’s combination of strategic expertise, growth-focused investments, and dedication to founder-led businesses makes it an ideal partner for companies aiming to achieve transformative growth in the lower middle-market.

2. Bow River Capital

A Hands-On, Results-Driven Approach

Bow River Capital, founded in 2003 in Denver, Colorado, is renowned for its hands-on and results-driven approach to private equity investment. The firm excels at forming strategic partnerships with middle-market founders and management teams, particularly in industries such as infrastructure and engineering services, industrial services, healthcare services, and tech-enabled business services. A cornerstone of Bow River Capital’s success is its relationship-driven strategy.

The firm places significant emphasis on the human capital and culture of the businesses it invests in, understanding that these elements are vital for long-term success. By collaborating closely with business leaders who share their values and passion for building enduring enterprises, Bow River Capital cultivates strong partnerships that drive growth and create lasting value. Another key aspect of its approach is its operational focus.

Bow River Capital offers a diverse set of expertise, addressing areas such as operational and financial strategies, sales performance management, and go-to-market planning. Each company benefits from a customized 100-day strategic plan, which outlines essential areas like organizational development, information systems and automation, resource planning, service line expansion, and add-on opportunities. This tailored plan provides a clear framework for growth and efficiency.

Bow River Capital is committed to long-term investments, often involving incremental capital to support both organic and inorganic growth. Its dedicated investment team works closely with portfolio companies throughout the entire life of the investment, ensuring that each business receives the necessary support and resources to achieve significant growth and scalability.

The firm’s employee-owned structure further aligns the interests of its management teams and investors, as they make substantial investments in their own funds. This alignment fosters a collaborative and motivated environment where all stakeholders work toward shared goals. Overall, Bow River Capital’s hands-on, results-driven approach and focus on building strong, enduring businesses have established it as a highly respected and effective private equity firm in the Denver market.

3. Platte River Equity

Building Partnerships in Target Sectors

Platte River Equity, founded in 2006 and based in Denver, Colorado, has established itself as a strategic partner for lower middle market businesses, particularly within targeted industrial sectors. The firm’s investment focus is concentrated on areas where its principals have substantial operating and investing experience, including aerospace and defense, industrials, and agriculture.

One of the key strengths of Platte River Equity is its ability to build and nurture long-term partnerships. The firm invests in companies that are niche market leaders, leveraging its deep industry knowledge to support these businesses in their growth and expansion. For instance, the recent acquisition of Building Controls & Solutions (BCS), a value-added distributor of building automation solutions, exemplifies Platte River’s strategy of partnering with market leaders within its target sectors.

This partnership aims to enhance BCS’s platform through Platte River’s expertise in industrial distribution, driving future growth and optimizing building performance. Platte River Equity also stands out for its prudent capital structures, designed to invest in future growth opportunities while withstanding changing economic environments.

The firm provides significant ongoing support to its portfolio companies through dedicated resources across various functional areas, ensuring that each business receives the necessary tools and expertise to thrive. The firm’s financial commitment is substantial, with over $1.7 billion in equity commitments raised across five funds.

Notably, the Platte River team is the largest collective investor across its funds, which deeply aligns the firm’s interests with those of its investors and portfolio company management teams. This alignment fosters a collaborative environment where everyone works towards common goals.

With a track record of over 75 acquisitions, Platte River Equity has demonstrated its capability to identify and nurture successful businesses, making it a trusted partner for companies seeking to achieve sustainable growth and expansion.

4. Altvia

Fueling Growth with Technology and Partnership

Altvia, founded in 2006 and headquartered in Denver, Colorado, plays a pivotal role in the private capital ecosystem. Unlike traditional private equity firms, Altvia focuses on delivering innovative technology solutions tailored to streamline operations for private equity firms, venture capital companies, real estate investors, and other financial institutions.

Central to Altvia’s offerings is its unified platform, which seamlessly integrates key functions such as investor relations, fundraising, and deal flow management. Built on Salesforce, this platform serves as a centralized hub for data and communication, enabling firms to raise capital more efficiently, strengthen investor relationships, and accelerate deal closures.

By replacing multiple disparate systems, Altvia’s solution minimizes manual tracking, reduces errors, and enhances overall operational efficiency. A standout feature of Altvia’s technology is its ability to foster transparent communication with limited partners (LPs), ensuring timely and accurate performance updates. This transparency strengthens trust and builds deeper relationships between investors and fund managers.

Additionally, Altvia’s tools for streamlining deal flow simplify the sourcing and diligence process, allowing firms to close deals faster and with fewer friction points. This level of optimization is essential in the competitive landscape of private capital management.

Altvia’s commitment to customer success is evident through its comprehensive support and implementation services. The company provides resources such as project management, technical consulting, and data analysis, ensuring clients can fully harness the platform’s capabilities. This hands-on approach helps firms navigate the complexities of private capital management, freeing them to focus on their core business activities.

In essence, Altvia’s technology and partnership model are designed to drive growth and efficiency in the private capital industry. By offering a robust, integrated solution, Altvia empowers private equity firms and other financial institutions to operate more effectively, solidifying its role as an indispensable partner in the Denver private equity landscape.

5. Excellere Partners

Commitment to Excellence and Growth

Excellere Partners, founded in 2006 and based in Denver, Colorado, is a private equity firm known for its dedication to excellence and its focus on creating enduring value. The firm specializes in collaborating with entrepreneurs and management teams of middle-market companies, particularly in the healthcare, business services, and industrial technology sectors. At the heart of Excellere Partners’ approach is its spirit of partnership.

Excellere Partners fosters strong, collaborative relationships with the companies it invests in, offering not only financial resources but also industry expertise and operational support. This comprehensive approach aims to help portfolio companies achieve strategic growth, improve operations, and build lasting value. The firm targets businesses generating at least $3 million in annual EBITDA, focusing on established companies with significant growth potential.

In the healthcare sector, Excellere Partners has made strategic investments in innovative companies such as LucidHealth, a physician-owned radiology partnership, and Advanced Infusion Solutions, a provider of sterile, patient-specific intrathecal pump medications. These investments demonstrate the firm’s ability to identify and support groundbreaking healthcare solutions.

Excellere Partners’ investment strategy emphasizes a long-term perspective. With over $2.1 billion in assets under management across five funds, the firm showcases its capacity to drive sustained growth and expansion.

Backed by a team of experienced professionals, Excellere Partners provides a comprehensive suite of services, including financial guidance, operational optimization, and strategic planning. These services are designed to help portfolio companies unlock their full potential. The firm’s commitment to excellence is evident in its rigorous due diligence process and its emphasis on delivering value beyond financial investment.

Key leaders such as Managing Partner Brad Cornell and Partner Eric Mattson bring extensive industry expertise and a deep understanding of middle-market businesses. Their strategic insights ensure that each investment aligns with the firm’s overarching vision.

In summary, Excellere Partners stands out for its dedication to building enduring value, fostering strong partnerships, and driving strategic growth. These qualities make it a highly respected and effective private equity firm in the Denver market.

6. KRG Capital Partners

A Legacy of Transformative Growth

KRG Capital Partners, founded in 1996 and based in Denver, Colorado, has built a remarkable legacy of driving transformative growth in middle-market companies. While the firm is no longer actively investing in new platform or add-on opportunities, its historical impact and approach to private equity remain noteworthy.

The firm specialized in acquiring majority interests in middle-market companies across a diverse range of sectors, including energy, healthcare, business services, distribution, transportation, media, manufacturing, defense, and life sciences. KRG’s strategy focused on partnering with existing management teams to develop industry-leading companies through a combination of internal growth and strategic add-on acquisitions. A defining feature of KRG Capital Partners’ approach was its unwavering commitment to long-term value creation.

Managing $4.4 billion in cumulative capital, the firm utilized these resources to grow its portfolio companies into significantly larger enterprises. This expansion was frequently achieved through selective strategic acquisitions, which bolstered market presence, enhanced product offerings, and improved operational efficiencies. The firm’s leadership, headed by Founder and Managing Director Charles R. Gwirtsman, played a pivotal role in driving its success. With a team of 18 members, KRG Capital Partners brought extensive experience and expertise to each investment, ensuring that every portfolio company had the guidance and support needed to reach its full potential.

Though KRG Capital Partners is no longer actively investing, its legacy lives on through Mountaingate Capital, established in 2016 by several former KRG team members. This transition highlights the enduring impact of KRG’s private equity strategies and its contribution to the growth and development of middle-market companies in the region.

In summary, KRG Capital Partners’ legacy is characterized by its transformative growth strategies, sector diversity, and dedication to long-term value creation. The firm remains a significant player in the history of Denver’s private equity landscape.

7. Revelstoke Capital Partners LLC

Healthcare Sector Specialists

Revelstoke Capital Partners LLC, founded in 2013 and based in Denver, Colorado, is a private equity firm specializing in the healthcare and related business services sectors. This focus enables the firm to leverage its deep industry knowledge and expertise to build and grow industry-leading companies.

The firm boasts a robust portfolio of investments, underscoring its commitment to healthcare. For instance, Revelstoke Capital Partners has invested in Upstream Rehabilitation, a national provider of outpatient rehabilitation services with over 1,200 clinics across 28 states. Another standout investment is in Crossroads Treatment Centers, which offers substance abuse treatment services through outpatient clinics, and DataLink, a company providing integrated population health management applications designed to improve care coordination and quality metrics in value-based care settings.

Revelstoke Capital Partners employs a long-term investment strategy characterized by collaborative partnerships with management teams. The firm works closely with the leadership of its portfolio companies to drive growth through strategic initiatives, operational improvements, and selective add-on acquisitions. This approach is exemplified by its investment in Fast Pace Health, a provider of rural healthcare services through a network of outpatient clinics. Revelstoke has supported the expansion of affordable and high-quality primary and urgent care services in these communities.

Managing multiple funds, Revelstoke Capital Partners has closed six funds to date, with one currently in market. The firm’s ability to raise and manage significant capital highlights its credibility and the confidence investors place in its healthcare-focused strategy.

Led by partners such as Andrew Welch, Anthony Hayes, and Ashley McNamee, the team brings a wealth of experience and a strong network within the healthcare industry. This expertise further enhances Revelstoke’s ability to identify and nurture successful investments. Overall, Revelstoke Capital Partners’ specialization in the healthcare sector, combined with its long-term investment approach and collaborative management style, positions it as a highly effective and respected player in the Denver private equity landscape.

8. Millennium Bridge Capital

Strengthening Companies through Strategic Capital

Millennium Bridge Capital, headquartered in Denver, Colorado, is a private equity investment firm with a strong presence in the middle market since the 1980s. Originally known as Cheyenne Capital, the firm has refined its expertise in multi-manager co-investment strategies, specifically targeting the North American lower middle market. A standout feature of Millennium Bridge Capital’s approach is its systematic co-investment model.

Since 2004, the firm has established itself as a leader in this category, blending traditional private equity fund-of-funds investing with systematic co-investments. This innovative strategy offers more favorable all-in fees compared to direct fund investing, providing a cost-effective solution for institutional investors.

Millennium Bridge Capital tailors its investment strategy to create customized solutions that align with the unique investment goals and risk tolerances of its clients. By working closely with investors, the firm develops investment plans that reflect their specific objectives and priorities.

This client-focused approach, combined with the firm’s extensive experience and strong relationships within the middle market, enables it to deliver superior risk-adjusted returns while maintaining the highest standards of integrity and transparency. Millennium Bridge Capital’s team consists of seasoned professionals with deep expertise in private equity.

The firm’s founders, active in the middle market since the 1980s, bring a wealth of knowledge and an invaluable network of relationships that help identify and nurture successful investments. The team includes managing directors, a chief financial officer, and other key personnel who contribute to the firm’s operational and investment success.

In recent years, Millennium Bridge Capital has continued to expand its franchise, including a successful capital raise for its second fund. With commitments exceeding $75 million as of 2020, this fund highlights the firm’s ability to attract significant capital and underscores its ongoing commitment to fostering the growth of lower middle-market companies. Millennium Bridge Capital’s strategic capital approach, innovative co-investment model, and client-centric strategy make it a valuable partner for companies and investors navigating the complexities of the private equity landscape.

Conclusion

In conclusion, Denver, Colorado, stands out as a thriving hub for private equity firms, each offering unique strengths and specialties. From Mountaingate Capital‘s focus on digital and tech-driven businesses to Platte River Equity‘s expertise in industrial sectors, and from Bow River Capital‘s hands-on approach to Revelstoke Capital Partners‘ healthcare sector specialization, these firms provide a diverse range of investment strategies and industry expertise.

Whether you are an entrepreneur seeking growth capital, a management team looking for strategic partners, or an investor searching for opportunities, Denver’s top private equity firms are well-positioned to help you achieve your goals. By understanding the distinct approaches and focus areas of these firms, you can make informed decisions and forge meaningful partnerships that drive growth and success.