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Thesis Capital

Location on request · Invests in US; North America · Website

GrowthB2B SaaSHealthcare & BiotechManufacturingSupply Chain & LogisticsEnterprise SoftwareHealthcare & Digital HealthManufacturing & IndustrialLogistics & Supply Chain

Thesis

We invest in US-based, family-owned businesses in transition with $15-80M enterprise value and $3-25M in annual free cash flow. We bring patient capital, operational expertise, and long-term partnership mentality. Our favorite holding period is forever. We specialize in three partnership models: Legacy Transitions (60-100% acquisition for thoughtful handoffs), Growth Partnerships (51-80% acquisition for continued owner engagement), and Management Partnerships (support for operating leaders seeking autonomy). All partners have extensive operating experience as CEOs, Presidents, and Chairs. We invest with a 5-10+ year hold perspective, emphasizing stewardship, minimal leverage, and sustainable growth.

Likely not a fit for

We do not invest in commodity sectors, asset-heavy businesses, early-stage unprofitable companies, or highly leveraged transaction structures. We avoid businesses in decline, those requiring substantial R&D, rapidly changing or obsolete technology sectors. We do not work with sellers focused solely on maximizing check size or with short-term ownership mentality.

How they invest

Lead or follow
Usually leads
Typical decision
~2 months
Warm intro
Preferred
Involvement
Takes a board seat
Fund status
Actively deploying
Decision process
Partnership vote

Partners & team

1 contact on file

ET

Edward Tsai

Partner · Primary contact

+ Pitch

e•••@th•••.com

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Portfolio

The Ridge OhioHealthcare Digital

The Ridge is Ohio’s premier dual-diagnosis treatment center, providing luxury drug and alcohol rehab with a holistic approach to healing from substance use disorder. Located on a serene 51-acre campus, it offers tailored recovery programs, expert care, and a supportive environment for individuals seeking sobriety.

Cadillac ServicesManufacturing Industrial

Cadillac Services Limited has been providing excavation and site development services in the greater St. John's area since 2003, evolving from a small snow-clearing contractor to a full-service company. They offer a range of services including water and sewer management, waste disposal, and site development.

NEMA EnclosuresManufacturing Industrial

NEMA Enclosures manufactures custom and standard electrical enclosures designed to meet project specifications, certifications, and deadlines. They specialize in low volume, high mix projects and offer a wide range of NEMA rated enclosures.

Arkrise Business Solutions
OnCourse Software Suite
ZibtekEnterprise Software

Zibtek is a leading custom software development company offering secure software development, IT staff augmentation, and more, with a focus on delivering industry-specific solutions across healthcare, finance, and education.

Healthcare OpportunityHealthcare Digital

A job search platform focused on connecting healthcare professionals with job opportunities across Canada, offering personalized job matching and direct employer connections.

CapellaEnterprise Software

Capella provides unmatched product, AI, and software development to help technology directors and senior leadership address their business imperatives efficiently. They leverage a low code platform and a cohesive AI digital transformation team to deliver business software solutions.

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Research briefRead more
Thesis Capital Partners Research Investment Thesis & Core Focus Thesis Capital Partners is a lower-middle-market investment firm headquartered in Houston, Texas, that specializes in acquiring and growing US-based, family-owned businesses in transition. Founded on the principle that "work is love, service, and sacrifice for others," the firm invests in cash-flowing businesses with a long-term owner

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