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Growth Equity

Breakwater North

Breakwater North takes minority stakes in growing companies, usually without full control, from United States. It states a focus on energy & utilities and industrials & manufacturing.

Disclosed holdings5
Earliest stated investment2021
HeadquartersUnited States
Largest single fundNot stated

Stated investment criteria

What Breakwater North says it buys

Read from Breakwater North’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.

Transaction typesPlatform1

A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. Nothing here is a commitment by Breakwater North to consider any particular business, and nothing on this page is represented as being for sale.

Portfolio

Disclosed holdings

Companies Breakwater North lists on its own website. 2 carry a stated investment year.

CompanyInvestedYears heldRecorded transaction
Sonic Systems20215
Integral Energy Services20233
Boyne Capital
Elementl Power
Elementl Power LLC

Compiled from Breakwater North’s published portfolio page. Where a recorded transaction is shown, that company was the target of a reported deal and has most likely already been realised. Nothing here is represented as being for sale.

Valuation context

Transaction values in Energy & Utilities

What companies have actually sold for in energy & utilities, across 584 recorded transactions.

Median consideration$180m
Middle 50%$45m-$420m
Revenue multiple1.4×
EBITDA multiple7.1×

The full energy & utilities picture - most active acquirers, recent transactions and every investor in the sector.

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Comparable investors

Similar mandates

Other growth equity investors active in energy & utilities.