Buyout PE
Mill City Capital
Mill City Capital acquires controlling stakes in established, profitable businesses, from Minneapolis, United States. It states a focus on consumer & retail and industrials & manufacturing.
Stated investment criteria
What Mill City Capital says it buys
Read from Mill City 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.
| Enterprise value it states | $15m to $150m1 |
| EBITDA it states | $2m to $15m1 |
| Transaction types | Add-on1 |
| Stated holding period | 5-7 years1 |
| Offices | Minneapolis2 |
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. Mill City Capital states that it will take either a controlling or a minority stake. Nothing here is a commitment by Mill City Capital to consider any particular business, and nothing on this page is represented as being for sale.
Regulatory record
How Mill City Capital is registered
From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.
| Adviser status | Exempt reporting adviser |
| Regulatory assets under management | Not reported by an ERA |
| Private funds advised | 3 · $67m gross |
| SEC adviser number | CRD 162652 |
An exempt reporting adviser is not required to report regulatory assets under management, so the blank above means the question was not asked rather than that the answer is unknown. Where a figure exists it is the gross asset value of the private funds the firm advises, which is a different and usually larger measure.
Portfolio
Disclosed holdings
Companies Mill City Capital lists on its own website. No investment years are published.
| Company | Invested | Years held | Recorded transaction |
|---|---|---|---|
| Behrens Manufacturing | — | — | — |
| Behrens Manufacturing Co. | — | — | — |
| Diversified Packaging Holdings | — | — | — |
| Horizon Hobby | — | — | — |
| Mobile Pro Systems | — | — | — |
Compiled from Mill City 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 Consumer & Retail
What companies have actually sold for in consumer & retail, across 837 recorded transactions.
The full consumer & retail picture - most active acquirers, recent transactions and every investor in the sector.
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