What Eagle Merchant Partners does

Eagle Merchant Partners is an Atlanta-based private equity firm founded in 2013 that makes control investments in founder-owned consumer and commercial services businesses, primarily in the Southeastern United States and Texas. The firm targets companies with $2-20 million of EBITDA that are seeking their first institutional capital, with a particular focus on franchise systems, multi-unit operators, and commercial services sectors including car wash, restaurants, fitness, residential services, education, and industrial services. Eagle positions itself as a long-term growth partner rather than a financial engineer, with co-founders Stockton Croft and Bill Lundstrom actively engaged in every investment and providing strategic guidance, operational support, capital for add-on acquisitions, and management team building.

The firm manages two private equity funds: Eagle Merchant Partners I, L.P., which closed in July 2023 with over $265 million in capital commitments, and Eagle Merchant Partners Fund II, which closed in May 2025 with $415 million in capital commitments—oversubscribed above its original hard cap in seven months. Across both funds, Eagle has invested more than $1 billion of equity into 18+ portfolio companies and reports $315 million of equity value created alongside 3X portfolio EBITDA growth. The firm has executed multiple successful exits including Chicken Salad Chick (sold to Brentwood Associates), United PF Partners (sold to American Securities), Caliber Car Wash (sold to Percheron Capital), and The Recreational Group (sold to Sentinel Capital Partners).

Eagle's revenue model follows the standard private equity structure of management fees (typically 1.5-2% of committed capital annually) plus carried interest (typically 20% of profits above hurdle rate) on realized exits. The firm employs 20+ team members including two co-founding partners, five principals focused on origination and portfolio operations, several vice presidents and associates, plus dedicated CFO, controllers, and an operating partner. Eagle has been named to Inc. Magazine's Founder-Friendly Investors list for four consecutive years (2021-2024). The firm is headquartered at One Buckhead Plaza, 3060 Peachtree Rd NW, Suite 970, Atlanta, Georgia.

Name

Eagle Merchant Partners

Legal name

EMP Management LLC

Website

http://www.eaglemerchantpartners.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Eagle Merchant Partners is an Atlanta-based private equity firm that makes control investments in founder-owned consumer and commercial services businesses with $2-20 million EBITDA across the Southeastern United States and Texas, managing two funds totaling over $680 million in committed capital.

Ownership category

akta.pro rank

Product category

Private Equity (Lower Middle-Market Buyout & Growth Investing)

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Investment Activities (5239), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Consumer & Retail Growth Equity (FSANACAC)

Keywords

• Private equity investing
• Lower middle-market buyouts
• Consumer services investment
• Commercial services investment
• Founder-owned business capital

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Management Fees: Private equity firms typically charge management fees on committed capital under management, typically 1.5-2% annually.
2. Carried Interest: Performance-based carried interest from fund returns, typically 20% of profits above the hurdle rate.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Eagle Merchant Partners is a private equity firm that makes control investments in founder-owned consumer and commercial services businesses with $2–20 million EBITDA, primarily in the Southeastern United States. The firm deploys institutional fund capital alongside founders, providing growth capital, operational support, and strategic guidance to accelerate unit development, product line expansion, and add-on acquisitions, with the goal of long-term value creation rather than financial engineering.

Product overview

Eagle Merchant Partners operates as a single unified private equity investment offering rather than a platform-plus-modules architecture. The firm's core service is providing growth capital, strategic partnership, and operational support to founder-owned businesses. The company targets consumer and commercial services businesses with unique growth potential, primarily in the Southeast and Texas regions, focusing on companies with $2-20 million EBITDA that are seeking their first institutional capital.

Differentiator

Problem solved

Functional benefit

Products and services

• Eagle Merchant Partners I, L.P. (Fund I) Institutional private equity fund that makes control investments in founder-owned consumer and commercial services companies in the Southeastern United States with $2–20M EBITDA, providing growth capital, operational support, and strategic partnership. Aimed at institutional LPs seeking exposure to lower middle-market buyouts.
• Eagle Merchant Partners Fund II Second institutional private equity fund making control investments in founder-owned companies across the Southeastern United States, with focus on franchise, multi-unit, and commercial services sectors. Aimed at institutional and individual LPs providing committed capital for the firm's investment strategy.
• Control-EQUITY Investment & Operating Partnership The firm's core service offering to founder-owned businesses: control-equity investment paired with strategic partnership, operational support, and resources to accelerate new unit development, product line expansion, and add-on acquisitions. Available to qualifying founder-owned consumer and commercial services companies with $2–20M EBITDA in the Southeastern U.S. (including Texas).

Quantifiable outcome

• 3X portfolio EBITDA growth across Eagle investments
• +2 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Roark Capital: Roark Capital is a private equity firm focused exclusively on franchise and consumer brands, including Inspire Brands, Massage Envy, and FOCUS Brands. It is highly comparable to Eagle given overlapping franchise/multi-unit thesis, lower middle-market entry strategy, and consumer-services focus.
• Brentwood Associates: Brentwood Associates is a consumer-focused private equity firm that acquired Chicken Salad Chick from Eagle in 2019. Comparable thesis (consumer/retail growth equity), similar check size, and direct transactional overlap make it a clear peer.
• Sentinel Capital Partners: Sentinel Capital Partners is a lower middle-market PE firm focused on defensible niches in services, healthcare, and industrials. Sentinel acquired The Recreational Group from Eagle in 2022. Highly comparable mandate and entry size.
• Percheron Capital: Percheron Capital is a lower middle-market PE firm focused on consumer and commercial services, and acquired Caliber Car Wash from Eagle in 2021. Directly comparable fund size, sector focus, and entry EBITDA range.
• Shore Capital Partners: Shore Capital Partners is a lower middle-market PE firm investing in consumer, healthcare, and business services with $2-15M EBITDA targets. Closely comparable fund size, founder-friendly approach, and operational value-add model.
• Gryphon Investors: Gryphon Investors is a lower middle-market PE firm with a founder-friendly approach across consumer, business services, and healthcare. Comparable check size ($10-100M+), sector overlap, and growth-oriented playbook.
• JLM Financial Partners: JLM Financial Partners is a lower middle-market PE co-investor that formed United PF Partners with Eagle and co-invested in The Recreational Group. Closely comparable thesis and joint-venture track record.

Broad incumbents

• L Catterton: L Catterton is a much larger consumer-focused private equity firm with deep franchise and brand expertise. It overlaps with Eagle's consumer thesis but operates at a higher entry valuation tier, making it a broader incumbent rather than direct peer.
• American Securities: American Securities is a larger PE firm that acquired United PF Partners from Eagle in 2019. Overlapping services and franchise exposure but at materially larger scale and check size.

Others

• Stellus Capital Investment Corp: Stellus Capital Management is a private credit provider that supplied unitranche financing to Eagle's Impact Home Services acquisition. Comparable as a financing partner to the lower middle-market ecosystem in which Eagle operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Eagle Merchant Partners