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Growth Equity

Lake Country Capital

Lake Country Capital takes minority stakes in growing companies, usually without full control, from Minneapolis, United States. It states a focus on industrials & manufacturing, business & professional services, consumer & retail and energy & utilities.

Capital raised$28macross 1 SEC-filed vehicle
Most recent fund2018
HeadquartersMinneapolis, United States
Largest single fund$28m

Stated investment criteria

What Lake Country Capital says it buys

Read from Lake Country Capital’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.

Minimum EBITDA it states$2m1
Transaction typesGrowth2
People listed on its team page83

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. 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 Lake Country Capital to consider any particular business, and nothing on this page is represented as being for sale.

SEC filings

What Lake Country Capital has raised

From this firm's own Form D filings. A fund files one within fifteen days of its first sale, under penalty of perjury, which makes these the hardest numbers on the page.

Vehicles filed1
Total capital raised$28m
Largest single vehicle$28m
Filing history2018
Smallest accepted commitmentNone stated
Filed fromMINNESOTA

Form D covers US-domiciled vehicles raised from accredited investors. It will not capture a fund raised outside the United States, separately managed accounts, or capital deployed off balance sheet, so treat these as a floor rather than a total.

Portfolio

Disclosed holdings

Companies Lake Country Capital lists on its own website. No investment years are published. 1 has a recorded transaction against it in the deal archive.

CompanyInvestedYears heldRecorded transaction
Bondcote Performance Textiles
Bondcotept
Catalina Foods
Cubex
Dawgsinc
Enfold WordPress Theme by Kriesi
Excel247er
Griplock
Jaspereng
Peninsulators
Prairie Care
Rohnerspraybooths
Sail Energy
Sila
Soberlink
USI
Unitedsafetycorporation
Vertex$540m 2018
Voicemediagroup
Xfactorsg
iRocker

Compiled from Lake Country Capital’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 Industrials & Manufacturing

What companies have actually sold for in industrials & manufacturing, across 1,298 recorded transactions.

Median consideration$110m
Middle 50%$32m-$303m
Revenue multiple1.2×
EBITDA multiple8.05×

The full industrials & manufacturing 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 industrials & manufacturing.