Pine Street Capital Partners
Pine Street Capital Partners is a Wellesley, Massachusetts-based private investment firm founded in 2004 that provides $5–20 million mezzanine debt and minority equity to U.S. lower-middle-market companies with $10–75 million in revenue, operating through four SBIC-licensed funds totaling over $425 million raised since inception.
- Company typePrivate
- Founded2004
- HeadquartersWellesley, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Pine Street Capital Partners does
Pine Street Capital Partners is a privately held, SBA-licensed mezzanine debt and minority equity investment firm founded in 2004 by Tim Welles and Michael Lasch. The firm focuses on the U.S. lower middle market, providing $5–20 million of subordinated debt (with or without warrants) plus up to $4 million of equity alongside debt to companies with $10–75 million of revenue and $3–10 million of EBITDA. It takes non-control positions, typically with board observation or seat rights, targeting management teams seeking capital for buyouts, recapitalizations, acquisitions, refinancings, and shareholder liquidity events. Preferred sectors include business services, manufacturing, value-added distribution, consumer, healthcare, food and beverage, and industrial.
The firm's core product is a series of SBIC-licensed limited partnership funds (PSCP I through PSCP IV). Pine Street has received three Small Business Investment Company licenses from the U.S. Small Business Administration (2011, 2016, 2023), granting it access to SBA-guaranteed debentures that lower its cost of capital and enable more competitive financing terms. PSCP IV closed at $203 million in September 2024, bringing cumulative capital raised since inception to over $425 million across 60+ platform companies.
The firm employs six professionals across offices in Wellesley, Massachusetts and Albany, New York, led by three Managing Partners (Lasch, Morris, Welles). Its go-to-motion is relationship-driven deal sourcing through investment banks, intermediaries, and a recurring network of co-investment partners (including Bay Capital, Eagle Private Capital, Digital Fuel Capital, Spring Capital, NewSpring Mezzanine, Salem Investment Partners, Kemper Corporation, Kain Capital, Harvest Capital Credit, Fulham & Company, Rudolph Capital, Advantage Capital Connecticut, and Red Fence Holdings). As a private investment firm, revenue is generated through management fees on committed/deployed fund capital and carried interest on successful exits, with deal-by-deal economic terms negotiated privately.
Pine Street Capital Partners firmographics
Firmographics- Name
- Pine Street Capital Partners
- Legal name
- Pine Street Capital Partners
- Website
- https://pinecap.com
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Pine Street Capital Partners is a Wellesley, Massachusetts-based private investment firm founded in 2004 that provides $5–20 million mezzanine debt and minority equity to U.S. lower-middle-market companies with $10–75 million in revenue, operating through four SBIC-licensed funds totaling over $425 million raised since inception.
- Ownership category
- akta.pro rank
Pine Street Capital Partners industry classification
Industry- Product category
- Mezzanine Debt & Private Equity
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (525990), Portfolio Management and Investment Advice (52394)
- SIC
- Investors, Nec (6799), Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Mezzanine / Subordinated Debt (FSANADAC)
- akta.pro secondary industries
- Middle-Market Lending (FSANADAI), Private Credit / Direct Lending (FSAAAHAG), Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)
Keywords
Where Pine Street Capital Partners is headquartered
LocationHeadquarters
- HQ city
- Wellesley
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Pine Street Capital Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Management Fees and Carried Interest: As a private equity and mezzanine investment firm, PSCP generates returns through management fees on managed funds and carried interest (performance fees) from successful portfolio company exits. They invest capital from limited partners (institutional investors, family offices, and individuals) into middle market companies.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Pine Street Capital Partners product offering
Product offeringCore offering
Pine Street Capital Partners is a private investment firm that provides mezzanine debt and minority equity financing to established lower-middle-market companies in the United States. The firm structures $5-20 million subordinated debt investments, with or without warrants, alongside up to $4 million of equity, taking non-control positions in businesses with $10-75 million in revenue and $3-10 million in EBITDA. Capital is deployed through SBIC-licensed limited partnership funds to support buyouts, recapitalizations, acquisitions, management buyouts, refinancings, and corporate growth initiatives.
Product overview
Pine Street Capital Partners is a lower middle market mezzanine debt and equity investment firm founded in 2004. The firm operates three active investment funds (PSCP II, PSCP III, and PSCP IV) licensed as Small Business Investment Companies (SBICs). PSCP provides $5-20 million subordinated debt with or without warrants, plus up to $4 million equity alongside debt, targeting companies with $10-75 million revenue and $3-10 million EBITDA. Preferred industries include Business Services, Manufacturing, Value-added Distribution, Consumer, Healthcare, Food & Beverage, and Industrial sectors.
Differentiator
Problem solved
Functional benefit
Products and services
- Pine Street Capital Partners IV, LP (PSCP IV) Fourth fund vehicle licensed as a Small Business Investment Company (SBIC) that provides subordinated debt and minority equity capital to U.S. lower-middle-market companies, with target investments of $3-15 million per transaction. Intended for established companies seeking buyout, recapitalization, acquisition, or growth capital financing.
- Pine Street Capital Partners III, LP (PSCP III) Third fund vehicle providing mezzanine debt and minority equity investments to established companies with experienced management teams, structured as non-control positions with financial and operational covenants.
- Pine Street Capital Partners II, LP (PSCP II)
Quantifiable outcome
- Invested over $250 million in 52 privately held middle market businesses since inception
- +1 more outcomes
Companies that use Pine Street Capital Partners
Customer profileNamed customers13 records
Segments1 record
Ideal customer profiles1 record
Pine Street Capital Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Pine Street Capital Partners partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Winston & Strawn LPminorServed as legal advisor in the formation of PSCP IV.
Scale indicators5 records
Recent moves9 records
Expansion highlights6 records
Pine Street Capital Partners competitors and assessment
Company assessmentDirect peers
- NewSpring Mezzanine Capital: Lower middle market mezzanine and minority equity provider that has co-invested alongside PSCP in multiple deals (Nelson Worldwide, Burnyzz). Directly comparable strategy, check size, and SBIC-style positioning in the same niche.
- Eagle Private Capital: SBIC-licensed private equity firm providing mezzanine and equity investments in lower middle market companies, co-invested with PSCP on Summit Sports. Closely aligned investment strategy and target company profile.
- Bay Capital Investment Partners: Private investment firm focused on middle market mezzanine and equity investments, co-invested with PSCP on Summit Sports. Directly comparable in product offering, check size, and target market.
- Spring Capital Partners: SBIC-licensed lower middle market mezzanine and minority equity fund; co-invested with PSCP on Power Technology Southeast acquisition. Directly comparable in fund structure, target deal size, and industry focus.
- Salem Investment Partners: Lower middle market mezzanine fund that has co-invested alongside PSCP on Nelson Worldwide and Burnyzz. Highly comparable in strategy, deal size, and SBIC-licensed model.
- Harvest Capital Credit: Business development company focused on lower middle market debt and equity investments; co-invested with PSCP on King Engineering Associates. Comparable in lending product, target company profile, and growth-stage financing approach.
- Advantage Capital: SBIC-licensed investment firm focused on lower middle market companies, co-invested with PSCP on Merrill Industries recapitalization. Directly comparable in SBIC structure and target segment.
- Farragut Capital Partners: Lower middle market mezzanine debt and equity provider that co-invested alongside PSCP on Burnyzz. Comparable in investment size range and target company characteristics.
- Digital Fuel Capital: Private investment firm making growth equity and buyout investments in lower middle market consumer and business services companies; has co-invested with PSCP on multiple deals (Summit Sports, Artifact Uprising, Artful Home). Highly comparable in sector focus and co-invest pattern.
Broad incumbents
- Stellus Capital Investment Corp: Publicly traded business development company providing senior and junior debt to private middle market companies. Larger and more diversified than PSCP, but operates in adjacent lower middle market lending space with similar deal sizes and target profiles.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Pine Street Capital Partners social profiles
Digital presencePine Street Capital Partners compliance and trust
Trust signalCompliance1 record
Pine Street Capital Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pine Street Capital Partners leadership team
Management profileNumber of profiles
Profiles6 records
Pine Street Capital Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pine Street Capital Partners M&A and investment
M&A and investmentM&A
Investments17 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pine Street Capital Partners
What does Pine Street Capital Partners do?
Pine Street Capital Partners is a private investment firm that provides mezzanine debt and minority equity financing to established lower-middle-market companies in the United States. The firm structures $5-20 million subordinated debt investments, with or without warrants, alongside up to $4 million of equity, taking non-control positions in businesses with $10-75 million in revenue and $3-10 million in EBITDA. Capital is deployed through SBIC-licensed limited partnership funds to support buyouts, recapitalizations, acquisitions, management buyouts, refinancings, and corporate growth initiatives.
Is Pine Street Capital Partners a public or private company?
Pine Street Capital Partners is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Pine Street Capital Partners founded?
Pine Street Capital Partners was founded in 2004. It employs 1 to 10 people.
Where is Pine Street Capital Partners based?
Pine Street Capital Partners is headquartered in Wellesley, United States, in the North America region.
How does Pine Street Capital Partners make money?
One revenue line is on record: management Fees and Carried Interest.
Who are Pine Street Capital Partners's main competitors?
Direct peers on record are NewSpring Mezzanine Capital, Eagle Private Capital, Bay Capital Investment Partners, Spring Capital Partners, Salem Investment Partners, Harvest Capital Credit, Advantage Capital, Farragut Capital Partners and Digital Fuel Capital. Stellus Capital Investment Corp is listed as a broad incumbent.
Does Pine Street Capital Partners have an API?
No public API is recorded for Pine Street Capital Partners.
What industry is Pine Street Capital Partners in?
Pine Street Capital Partners's product category is Mezzanine Debt & Private Equity. Its primary akta.pro industry code is FSANADAC, Mezzanine / Subordinated Debt, with a secondary code of FSANADAI, Middle-Market Lending. Its NAICS code is 525 and its SIC code is 6799.