Growth Equity
Lightspring Capital Partners
Lightspring Capital Partners takes minority stakes in growing companies, usually without full control, from Chicago, Minneapolis. It states a focus on industrials & manufacturing, consumer & retail, business & professional services and food & beverage.
Stated investment criteria
What Lightspring Capital Partners says it buys
Read from Lightspring Capital Partners’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.
| Revenue it states | $10m to $75m1 |
| EBITDA it states | $2m to $8m1 |
| Transaction types | Recapitalisation1 |
| People listed on its team page | 82 |
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. Lightspring Capital Partners 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 Lightspring Capital Partners to consider any particular business, and nothing on this page is represented as being for sale.
Portfolio
Disclosed holdings
Companies Lightspring Capital Partners lists on its own website. 12 carry a stated investment year.
| Company | Invested | Years held | Recorded transaction |
|---|---|---|---|
| BSM | 2021 | 5 | — |
| Joneca | 2021 | 5 | — |
| Maxxsonics | 2021 | 5 | — |
| Weather Blanket | 2021 | 5 | — |
| Active Roofing | 2022 | 4 | — |
| Devansoy | 2022 | 4 | — |
| Great Lakes | 2022 | 4 | — |
| Look Our Way | 2023 | 3 | — |
| BedJet | 2024 | 2 | — |
| DAG | 2024 | 2 | — |
| Anchor Bay | 2025 | 1 | — |
| Soberlink | 2025 | 1 | — |
| ICAT Logistics | — | — | — |
| Reach International Outfitters | — | — | — |
| championinsulation.com | — | — | — |
| moderninsulationinc.com | — | — | — |
| thedentalalliancegroup.com | — | — | — |
Compiled from Lightspring Capital Partners’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.
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.