Firm at a glance
Industrial Growth Partners is a platform private equity firm founded in 1997 and headquartered in San Francisco, CA, per its own website [S1].
What they buy
The firm’s portfolio demonstrates a concentration in industrial manufacturing and services, with particular emphasis on aerospace and defense suppliers [S2]. Approximately 35 portfolio companies span sectors including precision manufacturing, electrical components, industrial testing services, and specialized aerospace products [S2]. The firm appears to pursue a buy-and-build strategy, evidenced by three add-on acquisitions completed in 2024 alone [S3].
Portfolio
Industrial Manufacturing
AdvancedPCB, AEM, AmerCable, API Heat Transfer, ASPEQ Heating Group, Associated Chemists, BMG, Breeze Industrial Products, Cambridge International, Climax Portable Machine Tools, Controls Southeast, Des-Case, Double E, Electronic Packaging Products, Felters Group, Grakon, Hultec, Ideal Tridon, IOTA Engineering, Jonathan Engineered Solutions, Microporous Products, O’Brien, Power Protection Products, and Prince & Izant [S2].
Aerospace & Defense
AMG, Consolidated Precision Products, FMH Aerospace, Integrated Polymer Solutions, and Marki Microwave (platform) [S2].
Industrial Services
Atlas Material Testing Solutions, Electric Power Systems International, Global Power Systems, Group360, Hydromax USA, Integrated Global Services, and North American Substation Services [S2].
Recent activity (last 24 months)
* Marki Microwave acquisition (platform), 2024 [S3]
* LintrinsIC Semiconductors acquisition (add-on), 2024 [S3]
* Saetta Labs acquisition (add-on), 2024 [S3]
* Hanmar acquisition (add-on), 2024 [S3]
How this firm fits a seller
Industrial Growth Partners may suit owner-operators of industrial manufacturing or services businesses seeking a buyer with demonstrated sector expertise and a multi-decade track record [S1]. The firm has raised approximately $3.4 billion across six funds since inception, with its sixth fund totaling $1.2 billion activated in 2022 [S1]. The 2024 transaction activity, including both a new platform and three add-ons, suggests active deployment of current fund capital [S3]. Sellers in aerospace supply chains, precision manufacturing, or industrial services may find alignment with the firm’s existing portfolio concentration [S2].
Sources
[S1] https://igpequity.com/about-us/ (as of 2025-01-10)
[S2] https://igpequity.com/portfolio/ (as of 2025-01-10)
[S3] https://igpequity.com (as of 2025-01-10)
Frequently asked questions
Does Industrial Growth Partners buy Industrial Manufacturing businesses?
Yes, industrial manufacturing represents the largest segment of the firm’s portfolio, with approximately 24 manufacturing companies listed across precision components, electrical products, and specialized industrial equipment [S2]. Recent 2024 add-on activity further confirms ongoing interest in the sector [S3].
What companies has Industrial Growth Partners acquired recently?
In 2024, the firm acquired Marki Microwave as a platform investment and completed three add-on acquisitions: LintrinsIC Semiconductors, Saetta Labs, and Hanmar [S3]. These transactions reflect continued focus on aerospace and defense supply chain businesses.
Where is Industrial Growth Partners based and how big is the firm?
The firm operates from San Francisco, CA, and has raised approximately $3.4 billion across six funds since its 1997 founding, with its most recent fund totaling $1.2 billion in 2022 [S1].
Is Industrial Growth Partners still actively acquiring?
Yes, the firm completed four acquisitions in 2024, including one new platform and three add-ons, indicating active deployment from its current fund [S3].
This profile is maintained by CT Acquisitions as an independent third-party reference. CT Acquisitions is not affiliated with, endorsed by, or a representative of the firm profiled. All facts sourced from publicly available materials as of the dates cited.