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Buyout PE

HKW

HKW acquires controlling stakes in established, profitable businesses, from Indianapolis, Indiana, USA. It states a focus on software & internet, healthcare & life sciences, business & professional services and consumer & retail.

Disclosed holdings
Earliest stated investment
HeadquartersIndianapolis, Indiana, USA
Stated fund size~$681M raised across funds; Fund V (2018 vintage)

Stated investment criteria

What HKW says it buys

Read from HKW’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.

EBITDA it states$3m to $30m1
People listed on its team page132

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. HKW states that it takes majority or outright ownership. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by HKW to consider any particular business, and nothing on this page is represented as being for sale.

Regulatory record

How HKW is registered

From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.

Adviser statusSEC registered
Regulatory assets under management$42m
Employees5
Private funds advised2 · $42m gross
SEC adviser numberCRD 333392

Valuation context

Transaction values in Software & Internet

What companies have actually sold for in software & internet, across 2,672 recorded transactions.

Median consideration$80m
Middle 50%$20m-$250m
Revenue multiple2.2×
EBITDA multiple10.9×

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

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Comparable investors

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