Generation Growth Capital
Generation Growth Capital is a Milwaukee-based lower-middle market private equity firm founded in 2007. It invests $1M-$10M in small upper Midwest businesses for ownership transitions, professionalizing companies with $5M-$50M revenue and enterprise values under $30M.
- Company typePrivate
- Founded2007
- HeadquartersChicago, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Generation Growth Capital does
Generation Growth Capital (GGC) is a Wisconsin-based private equity firm founded in 2007 by Cory L. Nettles, a former Wisconsin Secretary of Commerce, that focuses exclusively on buyouts and ownership transitions of small businesses in the lower-middle market. GGC invests $1 million to $10 million of equity per transaction into established manufacturing, service, and distribution businesses with $5 million to $50 million in revenue and enterprise values under $30 million. The firm's core thesis is the 'professionalization' of acquired companies — applying hands-on operating support, management augmentation, infrastructure enhancement (accounting, IT, HR), strategic direction and add-on acquisition execution to lift growth and profitability.
The firm is structured around successive fund vehicles: Fund I ($30 million, 2007), Fund II ($50 million, increased to $75 million in 2018) and Fund III ($100 million, 2020), with capital sourced primarily from insurance companies, banks, foundations, corporations and high-net-worth individuals. Geographic focus is the upper Midwest — Wisconsin, Minnesota, Illinois, Indiana, Iowa, Nebraska and the Dakotas — where GGC sources deals through a curated network of business advisors, operating partners who serve as non-executive board chairs, and direct outreach to founders seeking ownership transitions. Portfolio companies are increasingly held within roll-up holding entities such as Model 2 Machine Group (precision machining, founded 2011) and American Consolidated Metals (metal fabrication, founded 2023).
GGC generates revenue through management fees on committed and invested capital, supplemented by carried interest on realized exits. Disclosed realizations include the $40 million cash exit of Innovative Laser Technologies (2017), Martell Construction (approximately 2x cash-on-cash and IRR above 20%), and exits of Atlantic Precision, Accurate Home Care, and others. The current active portfolio comprises Killer Instinct Crossbows, BP Metals, Federal Tool & Engineering, and Rockford Specialties, alongside sixteen-plus realized investments spanning industrial manufacturing, precision machining, car wash systems, language services, healthcare, construction, and consumer products.
Generation Growth Capital firmographics
Firmographics- Name
- Generation Growth Capital
- Legal name
- Generation Growth Capital, Inc.
- Website
- http://generationgrowth.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Generation Growth Capital is a Milwaukee-based lower-middle market private equity firm founded in 2007. It invests $1M-$10M in small upper Midwest businesses for ownership transitions, professionalizing companies with $5M-$50M revenue and enterprise values under $30M.
- Ownership category
- akta.pro rank
Generation Growth Capital industry classification
Industry- Product category
- Private Equity / Buy-out Fund
- NAICS
- Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Micro-PE / Lower Middle Market ETA Funds (FSANALAG)
Keywords
Where Generation Growth Capital is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Generation Growth Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Private Equity Returns: GGC generates returns through successful exits of portfolio companies. The firm has realized exits including Innovative Laser Technologies ($40 million), Atlantic Precision, Martell Construction (2x cash on cash return, 20%+ IRR), Accurate Home Care, Midway Industrial Supply, and others. Revenue is generated through the appreciation and sale of portfolio company interests.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Generation Growth Capital product offering
Product offeringCore offering
Generation Growth Capital is a lower-middle market buy-out fund that invests $1 million to $10 million per portfolio company in established manufacturing, service, and distribution businesses with enterprise values under $30 million and sales ranging from $5 million to $50 million. The firm partners with management teams to "professionalize" small businesses through capital deployment, operational improvements, management augmentation, infrastructure enhancement, and add-on acquisition strategies, primarily in the upper Midwest.
Product overview
Generation Growth Capital is a lower-middle market buy-out fund providing investment services and capital to small businesses for ownership transitions and growth. The company's investment focus is on established manufacturing, service, and distribution businesses with enterprise values under $30 million and sales ranging from $5 million to $50 million. GGC maintains a portfolio of current investments including Killer Instinct Crossbows (outdoor sports equipment) and the American Consolidated Metals platform (metal fabrication), along with various realized investments across multiple industries including precision machining, metal additive manufacturing, healthcare services, construction, and distribution businesses.
Differentiator
Problem solved
Functional benefit
Brands
- American Consolidated Metals: Metal manufacturing platform combining multiple metal fabrication companies including Federal Tool & Engineering, BP Metals, and Rockford Specialties
- Model 2 Machine Group
Products and services
- Generation Growth Capital - Investment Services Lower-middle market buy-out fund providing capital and professional resources to small businesses for ownership transitions and growth. Invests in established manufacturing, service, and distribution businesses with enterprise values under $30 million and sales ranging from $5 million to $50 million.
- Killer Instinct Crossbows Portfolio company offering premium crossbow products and accessories at affordable price points for archery consumers.
- BP Metals Contract manufacturer of metal fabrications and complex assemblies to leading OEMs in commercial foodservice equipment, agricultural equipment, and retail fixtures.
- Federal Tool & Engineering Contract manufacturer of metal stampings, fabrications, and assemblies to leading OEMs in commercial and industrial generators, foodservice equipment, vehicle lighting and steering, communication equipment, and medical applications.
- Rockford Specialties Custom metal manufacturer providing wire and laser-cut component products to OEM, Point-of-Purchase, Food Service, Consumer Products, and Laboratory & Medical Supply Industries.
- American Consolidated Metals Platform GGC's metal manufacturing platform combining multiple metal fabricating companies to deliver comprehensive solutions to OEM customers across Illinois, Minnesota, and Wisconsin.
Quantifiable outcome
- Martell Construction exit achieved approximately 2x cash on cash return and IRR excess of 20% over nearly five year period
- +1 more outcomes
Companies that use Generation Growth Capital
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles2 records
Generation Growth Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Generation Growth Capital partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- American Consolidated Metals PlatformcoreGGC formed a new metal manufacturing platform combining Federal Tool & Engineering, BP Metals, and Rockford Specialties. Igor Zelenovskiy was hired as President of American Consolidated Metals.
- Lurie Besikof Lapidus Private Investment BankingminorActed as exclusive financial advisor to Midway Industrial Supply in its acquisition by GGC.
- Fredrikson & Byron P.A.minorLegal counsel advising Midway Industrial Supply on the acquisition transaction.
- Godfrey & Kahn, S.C.minorLegal counsel advising Generation Growth Capital Fund II, LP on the Midway Industrial Supply acquisition.
- Guy MeyerhofercoreLocal executive who partnered with GGC to acquire Decrane Assembly & Logistics division, forming Quality Assembly & Logistics, LLC. Meyerhofer serves as president/owner managing daily operations.
Scale indicators6 records
Recent moves6 records
Expansion highlights7 records
Generation Growth Capital competitors and assessment
Company assessmentBroad incumbents
- KKR: Global alternative asset manager with broad middle-market PE capabilities — incumbent competitor for capital and talent but not a niche rival at GGC's deal size.
- Bain Capital: Large global PE firm with multiple fund strategies including middle-market — serves as a broader incumbent for talent, LP relationships, and co-investment rather than direct deal competition at GGC's size.
Direct peers
- CORE Industrial Partners: Chicago-based PE firm focused on industrial manufacturing and distribution businesses in the lower-middle market — overlapping target sectors (metal fabrication, precision machining) with GGC's portfolio.
- Sterling Group: Houston-based operationally focused lower-middle market PE firm investing in manufacturing, industrial, and distribution companies — directly comparable buyout and professionalization playbook.
- Monomoy Capital Partners: New York-based lower-middle market PE firm focused on industrial, consumer, and business-services companies with EBITDA under $25M — directly comparable target company profile to GGC's small-business focus.
- Quad-C Management: Lower-middle market PE firm based in the Mid-Atlantic investing in companies with $5M-$200M in revenue and $1M-$15M EBITDA — overlapping target check size and add-on platform strategy with GGC.
- Shore Capital Partners: Chicago-based private equity firm focused exclusively on the lower-middle market, investing in micro-cap companies across the U.S. — same fund-size profile, target-deal size, and value-creation playbook as GGC.
- Wynnchurch Capital: Lower-middle market PE firm focused on industrial, manufacturing, and distribution businesses with EBITDA typically $10M-$50M — comparable target profile and operational improvement focus.
- Pritzker Private Capital: Chicago-based family-office-backed PE firm focused on middle-market industrial and manufacturing businesses — closely comparable regional footprint, sector mix, and operating-partner value-add model.
Regional players
- Heartland Capital Partners: Upper Midwest-focused PE firm investing in small to mid-sized companies in the region — directly comparable geographic mandate to GGC's Wisconsin/Minnesota/Illinois focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Generation Growth Capital social profiles
Digital presenceGeneration Growth Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Generation Growth Capital leadership team
Management profileNumber of profiles
Profiles3 records
Generation Growth Capital subsidiaries and ownership
Company hierarchySubsidiaries6 records
Generation Growth Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Generation Growth Capital M&A and investment
M&A and investmentM&A5 records
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Generation Growth Capital
What does Generation Growth Capital do?
Generation Growth Capital is a lower-middle market buy-out fund that invests $1 million to $10 million per portfolio company in established manufacturing, service, and distribution businesses with enterprise values under $30 million and sales ranging from $5 million to $50 million. The firm partners with management teams to "professionalize" small businesses through capital deployment, operational improvements, management augmentation, infrastructure enhancement, and add-on acquisition strategies, primarily in the upper Midwest.
Is Generation Growth Capital a public or private company?
Generation Growth Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Generation Growth Capital founded?
Generation Growth Capital was founded in 2007. It employs 1 to 10 people.
Where is Generation Growth Capital based?
Generation Growth Capital is headquartered in Chicago, United States, in the North America region.
How does Generation Growth Capital make money?
One revenue line is on record: private Equity Returns.
Who are Generation Growth Capital's main competitors?
Broad incumbents on record are KKR and Bain Capital. Direct peers are CORE Industrial Partners, Sterling Group, Monomoy Capital Partners, Quad-C Management, Shore Capital Partners, Wynnchurch Capital and Pritzker Private Capital. Heartland Capital Partners is listed as a regional player.
Does Generation Growth Capital have an API?
No public API is recorded for Generation Growth Capital.
What industry is Generation Growth Capital in?
Generation Growth Capital's product category is Private Equity / Buy-out Fund. Its primary akta.pro industry code is FSANALAG, Micro-PE / Lower Middle Market ETA Funds. Its NAICS code is 52394 and its SIC code is 6282.