Neos Partners

What Neos Partners does

Neos Partners is a private middle-market investment firm headquartered in San Diego, California, founded in 2022 by Peter Jonna and Brad Forth, both degreed engineers and former Managing Directors in Oaktree's GFI Energy Group. The firm pursues a "second-order" investment strategy focused on companies that provide products and services to the energy transition and critical infrastructure sectors — specifically renewable energy, power grid, infrastructure, data centers, and energy-intensive industrials — across North America. Neos manages $2.7 billion of capital across Fund I ($830 million), Fund II ($1.37 billion closed at hard cap in November 2024), and a $350 million committed co-investment vehicle, with limited partners including endowments, foundations, investment managers, family offices, and other institutional investors, plus more than $260 million committed by a 100+ member industry advisory network.

The firm operates approximately twelve wholly-owned portfolio companies that supply both products and services to its target sectors. Its flagship platform, Forgent Power Solutions, was assembled in 2023 through the consolidation of MGM Transformers, PwrQ, States Manufacturing, and VanTran into a unified manufacturer of custom electrical distribution equipment for data centers, power grids, and energy-intensive industrial facilities; Forgent completed its NYSE IPO under ticker FPS in February 2026 at $27.00 per share, raising approximately $1.5 billion and reaching a post-IPO valuation of approximately $7.9–8.2 billion. Other portfolio companies include ANS (renewable energy and battery storage engineering), Gridstone (electric T&D services to utilities and municipalities), MAS (thermal management for data centers and industry), Mill Creek Renewables (utility-scale solar and storage EPC), Panelmatic (e-houses and prefabricated electrical assemblies), RMS Energy (high-voltage equipment testing), BBC Electrical Services, and FastGrid.

Neos generates revenue through fund management fees and, over time, carried interest on its private equity vehicles, with distribution handled via direct institutional outreach and UBS as exclusive placement agent for Fund II. The firm differentiates through sector specialization, a founder-first partnership approach, conservative use of leverage, and an in-house portfolio operations team supported by its senior advisor network. GTM is sales-led and relationship-driven rather than marketing-led, targeting both limited-partner capital and proprietary deal flow from operating executives across the five target sectors.

Name

Neos Partners

Legal name

Neos Partners, LP

Website

https://neospartners.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Neos Partners is a San Diego-based private middle-market investment firm managing $2.7 billion, focused on second-order investing in the energy transition and critical infrastructure. It partners with founders of product and service companies serving renewable energy, power grid, data center, infrastructure, and energy-intensive industrial markets.

Ownership category

akta.pro rank

Product category

Private Equity / Investment Management

NAICS

Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940), Investment Banking and Securities Intermediation (523150)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Multi-Sector / Generalist Growth Equity (FSANACAO)

Keywords

• Private equity investing
• Energy transition investing
• Infrastructure investment
• Middle market growth capital
• Fund management services

Headquarters

HQ city

San Diego

HQ country

Mexico

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Fund Management: Neos Partners generates revenue through management fees and carried interest from its investment funds. Fund II closed at $1.37 billion hard cap with a $350 million co-investment vehicle. Fund I had $830 million of commitments. The firm also has over $260 million committed from 100+ founders, executives, and advisors in its industry network.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Neos Partners is a middle-market private equity investment firm that raises and manages investment funds (Fund I at $830 million, Fund II at $1.37 billion) to acquire and grow founder- and family-owned operating companies providing products and services to the renewable energy, power grid, infrastructure, data center, and energy-intensive industrial sectors. The firm earns revenue through management fees and carried interest on its fund vehicles, and supports portfolio companies with growth capital, operational expertise, M&A support, and strategic development.

Product overview

Neos Partners is an independent investment firm that operates as a platform of portfolio companies across the energy transition and critical infrastructure sectors. The firm manages $2.7 billion of capital across Fund I ($830 million) and Fund II ($1.37 billion). The portfolio consists of product and service companies including: Forgent Power Solutions (parent brand for MGM Transformers, PwrQ, States Manufacturing, and VanTran - manufacturers of electrical distribution equipment for data centers, power grids, and industrial facilities); ANS (renewable energy and battery energy storage engineering); Gridstone (electric transmission and distribution services); MAS (thermal management products for data centers); Mill Creek Renewables (solar and energy storage EPC); Panelmatic (e-houses and prefabricated electrical assemblies); RMS Energy (high-voltage equipment testing and maintenance); and BBC Electrical Services and FastGrid (Fund I investments).

Differentiator

Problem solved

Functional benefit

Brands

• Forgent Power Solutions: Parent brand for MGM Transformers, PwrQ, States Manufacturing and VanTran; designer and manufacturer of custom electrical distribution equipment for data centers, power grid, and energy-intensive industrial facilities.

Products and services

• Neos Partners Fund II
• Neos Partners Fund I

Quantifiable outcome

• Fund II closed at hard cap of $1.37 billion with $350 million co-investment vehicle
• +2 more outcomes

Named customers3 records

Segments2 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 core and minor.

• 100+ Industry Network MemberscoreStrategic or Co-development PartnerOver 100 founders, executives, and advisors from renewable energy, power grid, infrastructure, data center, and energy-intensive industrial sectors committed more than $260 million to Neos funds and serve as Senior Advisors.
• Gary Niederpruem (CEO of Forgent Power Solutions)coreOthersData center equipment veteran Gary Niederpruem appointed as CEO of Forgent Power Solutions. Previously helped take Vertiv public in 2020.
• Gasthalter & Co.minorGTM or Marketing PartnerMedia contacts for Neos Partners press releases and communications.

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• AE Industrial Partners: Middle-market private equity firm investing in aerospace, defense, industrial, and energy transition sectors. Directly comparable to Neos in size, stage, and sector orientation; Neos Managing Director Trey Bivins previously worked there.
• Arcline Investment Management: Industrial-focused middle-market private equity firm investing in specialty manufacturing and infrastructure-related businesses. Directly comparable thesis and portfolio operations model; Neos MD David Savage previously led portfolio operations there.
• Aurora Capital Partners: Middle-market private equity firm focused on industrial and business services companies. Directly comparable in fund size and middle-market industrial thesis; multiple Neos professionals previously worked there.
• OceanSound Partners: Middle-market private equity firm investing in tech-enabled services and industrial technology businesses. Comparable middle-market energy/services orientation; Neos VP Henry Smither previously worked there.
• Energy Capital Partners: Private equity firm focused on power generation, renewables, and energy infrastructure investments. Highly comparable energy transition focus, though typically larger fund sizes.
• Clairvest Group: Canadian-based middle-market private equity firm investing in industrials, infrastructure, and consumer services. Comparable middle-market industrial mandate; Neos VP Zach Wells previously worked there.
• ACON Investments: Middle-market private equity firm investing across industrials, business services, and consumer. Comparable middle-market industrial orientation; Neos Principal Nick Mangus previously worked there.

Broad incumbents

• Oaktree Capital Management (GFI Energy Group): Large alternative asset manager with a dedicated GFI Energy Group focused on energy transition and infrastructure investments. Comparable sector focus at much larger scale; Neos founders Jonna and Forth spent over a decade in GFI Energy before launching Neos.
• Brookfield Asset Management: Global alternative asset manager with major infrastructure and renewable energy investment platforms. Overlaps with Neos in power, renewables, and data center infrastructure themes at vastly larger scale.

Emerging players

• Tide Rock Growth Capital: Lower middle-market firm focused on industrial rollups and small business acquisitions. Adjacent industrial PE strategy; Neos VP Bret Basilone previously led business development there.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/neos-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles26 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Neos Partners