What Truelink Capital does

Truelink Capital is a Los Angeles-based middle-market private equity firm founded in 2022 by Todd Golditch and Luke Myers, both former Platinum Equity executives. The firm invests in Business Services and Industrials companies with EBITDA between $20 million and $75+ million, executing a thesis-driven, operationally focused buy-and-build strategy that pairs capital with hands-on operational improvement, organic growth acceleration, and strategic add-on acquisitions. Truelink's stated differentiators include a tested operational playbook tailored for carve-outs and complex situations, deep operational talent with 20+ years of average experience, and a modular approach to value creation.

The firm generates revenue through private equity fund management, collecting management fees and carried interest on committed capital from institutional limited partners. Fund I closed at $950 million in July 2024 and Fund II closed at its $2.0 billion hard cap in March 2026, bringing total AUM to approximately $4.2 billion. The investor base spans North America, Europe, Asia, the Middle East, Australia, and South America. Truelink has executed 12 platform investments since inception, spanning building products distribution (SouthernCarlson, $965M revenue), HVAC and filtration (Air Distribution Technologies, 4,500+ employees), marketing technology and services (Ansira, Flipp, R/GA, Channel Factory), cleaning chemicals (Zep, 1,400+ employees), facility services (Horwitz, Prime Electric), experiential marketing (GES), sales training (Richardson Sales Performance), and architectural glass (Trulite). Multiple platforms are executing add-on acquisition programs.

Truelink does not develop proprietary technology platforms; its core technology asset is its operational playbook and deal-execution infrastructure. The firm employs 1-10 people at the GP level, with a senior team of partners, principals, vice presidents, and operations specialists drawn from Platinum Equity, Houlihan Lokey, Bain & Company, Alvarez & Marsal, and Porsche Consulting. GTM motion is sales-led and relationship-driven: the firm originates deals directly through its senior partner network, corporate seller relationships, and intermediary contacts, then deploys capital alongside operational teams embedded in portfolio companies.

Name

Truelink Capital

Legal name

Truelink Capital

Website

https://truelinkcap.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Truelink Capital is a Los Angeles-based middle-market private equity firm founded in 2022 that invests in Business Services and Industrials companies with $20M-$75M+ EBITDA, executing buy-and-build strategies through operational improvement and add-on acquisitions. The firm manages approximately $4.2 billion in AUM across two funds and holds 12 platform investments.

Ownership category

akta.pro rank

Product category

Private Equity Investment Management

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Middle-market private equity
• Buy-and-build investing
• Operational value creation
• Business services investing
• Industrials private equity

Headquarters

HQ city

Los Angeles

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, Technology or R&D, Others

Revenue model

1. Private Equity Fund Management: Truelink Capital generates returns through investment management fees and carried interest from its private equity funds. The firm has raised Fund I ($950 million, July 2024) and Fund II ($2.0 billion hard cap, March 2026), targeting total AUM of approximately $4.2 billion. Revenue is derived from managing capital across industrial and business services portfolio companies.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Truelink Capital is a middle-market private equity firm that acquires controlling stakes in business services and industrials companies generating $20 million to $75+ million in EBITDA. The firm partners with management teams, corporate sellers, and founders to drive value through operational improvements, organic initiatives, and strategic add-on acquisitions using a tested operational playbook.

Product overview

Truelink Capital is a Los Angeles-based private equity firm that operates as a unified investment platform rather than a single product. The firm deploys capital into a diversified portfolio of portfolio companies spanning Business Services and Industrials sectors. The portfolio includes 13 platform investments: Ansira (marketing technology), Trulite (glass & aluminum fabrication), Richardson Sales Performance (sales training), Flipp (marketing technology platform), Air Distribution Technologies (HVAC products), GES (live event marketing), R/GA (advertising), Channel Factory (brand suitability/safety), Zep (cleaning and sanitation chemicals), Prime Electric (electrical contracting), SouthernCarlson (building products distribution), and Horwitz (mechanical contracting services). These portfolio companies operate independently while benefiting from Truelink's operational expertise and strategic guidance for growth acceleration through organic initiatives and add-on acquisitions.

Differentiator

Problem solved

Functional benefit

Products and services

• Truelink Capital Fund I Truelink Capital's inaugural private equity fund that invests in middle-market business services and industrials companies with EBITDA between $20 million and $75+ million, targeting buy-and-build opportunities through operational improvements and strategic add-on acquisitions. Closed at $950 million in capital commitments in July 2024.
• Truelink Capital Fund II Truelink Capital's second private equity fund that continues the firm's strategy of partnering with companies in industrials and business services sectors, focusing on commercial growth acceleration, operational transformation, and strategic M&A. Closed at its $2.0 billion hard cap in March 2026.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered supporting and core.

• Latham & Watkins LLPsupportingImplementation/ SI/ Consulting Partner · 8 January 2026Latham & Watkins advised Prime Electric and WestView Capital Partners in connection with Truelink Capital's investment in Prime Electric. The law firm assembled a multidisciplinary team across Boston, Bay Area, Chicago, Los Angeles, San Diego, and Washington D.C. offices covering corporate, tax, benefits, labor, IP, finance, insurance, and antitrust matters.
• Air Distribution TechnologiescoreStrategic or Co-development Partner · 18 June 2024Truelink acquired Air Distribution Technologies from Johnson Controls, including brands such as Koch Filter, Titus, Ruskin, Kreuger, PennBarry, and Tuttle & Bailey. The company operates with over 4,500 employees globally and continues under existing leadership with strategic expansion plans.
• Richardson Sales PerformancecoreStrategic or Co-development Partner · 11 July 2023Truelink Capital acquired Richardson Sales Performance, a global leader in sales training and performance improvement. The partnership aims to support Richardson's growth and innovation in sales solutions, leveraging its industry-leading technology and global reach as part of Truelink's portfolio.

Scale indicators14 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Platinum Equity: Los Angeles-based middle-market PE firm focused on industrials, business services, and tech-enabled services. Most directly comparable peer given Truelink's founders and senior operators all came from Platinum Equity and apply a similar operational, complex-situation playbook.
• Aterian Investment Partners: Middle-market PE firm investing in industrial, business services, and consumer products companies with $20M–$150M EBITDA. Directly comparable in fund size, sector focus, and buy-and-build orientation to Truelink's approach.
• Wynnchurch Capital: Middle-market PE firm focused on industrial services, business services, and specialty manufacturing with EBITDA of $20M–$100M. Highly comparable operating-focused strategy and target company profile to Truelink.
• Sentinel Capital Partners: Middle-market PE firm focused on defensible niche businesses in business services, industrials, and healthcare. Operates buy-and-build strategies with strong sector specialization, directly comparable to Truelink's investment thesis.
• New Mountain Capital: Large middle-market PE firm focused on business services and technology-enabled services. Directly comparable sector focus; was the seller of Zep to Truelink, indicating shared deal-flow relationships and overlapping investment universes.
• Genstar Capital: Middle-market PE firm focused on business services, industrials, healthcare, and financial services. Comparable target size, sector mix, and buy-and-build orientation make it a strong direct peer.
• AEA Investors: Middle-market private investment firm with a long history in business services, industrials, and consumer products. Comparable in target EBITDA range, sector focus, and operational value-creation approach to Truelink.
• Avista Capital Partners: Middle-market PE firm focused on healthcare and business services. Comparable in fund size, sector focus, and operating-partner model; also a former employer of Truelink team member Samson Soon.
• OpenGate Capital: Middle-market PE firm focused on business services and industrials with operations across North America and Europe. Truelink's Head of Business Development Peter Lewis previously spent 9 years at OpenGate, making it a directly comparable peer.

Broad incumbents

• Bain Capital Private Equity: Large global PE platform with industrials and business services verticals that compete for middle-market deals alongside Truelink. Broader portfolio than Truelink but overlapping on target profiles and active in the same auction processes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/truelink-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

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

M&A12 records

Investments2 records

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

Frequently asked questions about Truelink Capital