Ronin Equity Partners

What Ronin Equity Partners does

Ronin Equity Partners is a New York-based private equity firm founded in 2019 by David Feierstein and Jesse Yao — both former senior executives at Kraft Heinz during the 3G Capital era, with additional operating and investing experience at Bain Capital (Diversey), Blackstone (NCR), Goldman Sachs Capital Partners, and J.P. Morgan. The firm makes control equity investments exclusively in the Industrial and Consumer sectors, targeting companies with strong demonstrated cash flows and consolidation opportunities in fragmented industries; stated investment parameters include transaction sizes up to $1 billion in enterprise value and equity investments up to $300 million. Ronin's stated differentiator is an operationally-focused value creation model in which team members embed into portfolio companies as interim senior executives to install zero-based budgeting, build back-office infrastructure, implement disciplined reporting, and integrate acquisitions.

Ronin executes a platform strategy: anchor platforms are formed through simultaneous multi-company acquisitions and then scaled via bolt-ons. Across nine platform investments, the firm has completed approximately 32 acquisitions and deployed over $400 million in equity capital. Active and historical platforms include commercial refrigeration (Due North, now part of AeriTek Global), specialty cheese (Heartisan Foods, sold April 2025), outdoor power equipment (Engenuity Outdoor Equipment), craft beverage equipment (Lotus Beverage Alliance, formed from a six-company merger), aerospace MRO (Griffin), utility services (Edison), and heavy haul transportation (Transporter). The firm's small core team of approximately five investor-operators is supplemented by a network of over 200 operating advisors in consumer and industrials sectors, and Houlihan Lokey has served as financial advisor across all funded deals.

Ronin monetizes through traditional private equity fund economics — management fees and carried interest on its $300 million inaugural fund (Ronin Fund I, closed March 2021 with family office LPs including Landon Capital Partners, Cardinal Equity Partners, and First Haven Capital). As of April 2025, the firm's five active platform companies generated approximately $512 million in annualized revenue and $103 million in annualized EBITDA, with 30% annualized EBITDA growth from acquisition to date. The firm is headquartered at 712 Fifth Avenue, Floor 17, New York, NY 10019, having relocated from 400 Fifth Avenue in March 2026 amid an active growth push.

Name

Ronin Equity Partners

Legal name

Ronin Equity Partners LLC

Website

https://www.roninequitypartners.com/

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Ronin Equity Partners is a New York-based private equity firm founded in 2019 that makes control equity investments in the Industrial and Consumer sectors, building and scaling platform companies through operational improvement, simultaneous multi-company mergers, and bolt-on acquisitions.

Ownership category

akta.pro rank

Product category

Private Equity Investment Management

NAICS

All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (523940)

SIC

Investors, Nec (6799), Investment Advice (6282)

akta.pro primary industry

Multi-Sector / Generalist Growth Equity (FSANACAO)

Keywords

• Private equity investing
• Control equity investments
• Industrial sector investing
• Consumer sector investing
• Operational value creation

Headquarters

HQ city

New York

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, Others

Revenue model

1. Private Equity Management: Ronin Equity Partners generates returns through management of private equity investments, deploying capital into Industrial and Consumer sector companies with strong cash flows. The firm creates value through operational improvements, acquisitions, and exits.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Ronin Equity Partners is a private equity firm that makes control equity investments in middle-market Industrial and Consumer sector companies with strong demonstrated cash flows. The firm deploys capital and embeds its own staff into portfolio companies as interim senior executives to build back-office infrastructure, implement systems and processes, and integrate bolt-on acquisitions. It invests across enterprise values up to $1B with equity checks up to $300M, primarily through platform and add-on acquisitions in fragmented industries.

Product overview

Ronin Equity Partners is a private equity investment firm that makes control equity investments exclusively in the Industrial and Consumer sectors. The firm utilizes an operationally-focused value creation strategy, embedding team members as interim senior executives to build back-office infrastructure, implement systems and processes, and integrate acquisitions. Their investment approach focuses on market leaders with strong cash flows in fragmented sectors where consolidation opportunities exist. The firm manages a portfolio of platform investments across commercial refrigeration, specialty foods, outdoor equipment, craft beverage equipment, utility services, aerospace MRO, and transportation equipment sectors. Ronin was founded in 2019 and has deployed over $400 million across multiple platform investments.

Differentiator

Problem solved

Functional benefit

Products and services

• Ronin Fund I Inaugural private equity fund raised to make control equity investments in Industrial and Consumer sector companies with strong demonstrated cash flows; deployed to acquire Due North, Heartisan Foods, DK2/Currahee/SnowBear (Engenuity), and Lotus Beverage Alliance.
• Control Equity Investment Services Core investment service providing control equity investments in market leaders with highly defensible market positions and strong demonstrated cash flows, utilizing an operating playbook that adds value through enhanced systems, processes, and talent recruitment.
• Operational Value Creation Services Service in which Ronin embeds staff into portfolio companies as interim senior executives to build robust back-office infrastructure, scale businesses for growth, and seamlessly integrate acquisitions.
• AeriTek Global GP-Led Secondary / Continuation Vehicle GP-led secondary investment vehicle used to provide liquidity to existing investors in AeriTek Global while preserving minority stakes for new investors, with Partners Capital joining as a new investor.

Named customers6 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators14 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Centerbridge Partners: Diversified PE firm investing across industrials, consumer, and financials with operational and credit capabilities — overlapping mandate and operator-led orientation, but with broader strategy mix.
• Bain Capital: Global alternative asset manager where Ronin's co-founders previously led transformation work (Diversey). Comparable operational/value-creation DNA, but Bain operates at far greater scale across multiple strategies.
• Stone Point Capital: Middle-market PE firm with deep operating partner network and sector-focused investments in financial services and related businesses — overlaps with Ronin's operator-led model at larger scale.
• 3G Capital: Operationally-driven PE firm renowned for zero-based budgeting at Kraft Heinz — the playbook Ronin's founders helped execute. Closely aligned on methodology though 3G deploys much larger equity tickets.
• Genstar Capital: Larger middle-market PE firm with sector-focused strategies across industrials, financial services, and consumer. Overlapping mandate to Ronin but with materially more AUM and broader sector coverage.

Direct peers

• Audax Group: Operationally-focused lower-middle-market PE firm with a build-and-buy platform strategy across industrial, consumer, and business services. Audax's repeated add-on approach and sector breadth closely mirrors Ronin's playbook.
• American Industrial Partners: Industrial-sector-focused PE firm making control investments in middle-market industrial businesses, often via operational improvement and consolidation. Highly comparable to Ronin's Industrial/Consumer focus and check size.
• Mill Point Capital: Lower-middle-market PE firm explicitly cited as the sponsor of AeriTek Global (the buyer of Ronin's Due North platform). Mill Point pursues operationally-focused control investments in industrial and business services — directly comparable to Ronin's mandate and check size.
• Aterian Investment Partners: Operationally-focused lower-middle-market PE firm that partners with founders and management teams to build platforms through add-ons — directly comparable to Ronin's bolt-on strategy in fragmented industries.
• Wynnchurch Capital: Middle-market PE firm investing in industrials, consumer, and business services with operational value creation and a heavy add-on cadence — comparable sector focus and check size to Ronin.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ronin-equity-partners/about

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

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

M&A7 records

Investments2 records

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

Frequently asked questions about Ronin Equity Partners