Crest Rock Partners

What Crest Rock Partners does

Crest Rock Partners is a Denver, Colorado-based private equity firm founded in 2019 that makes control-oriented investments in lower middle market companies with enterprise values between $15 million and $200 million. The firm deploys equity checks of $25-75 million with flexibility up to $100 million, targeting software, technology, IT services, tech-enabled business services, manufacturing, and industrial services. The firm was co-founded by Jeff Carnes and Steve Johnson, both formerly of Marlin Equity Partners, and the senior team has executed 65+ acquisitions, divestitures, mergers, and integrations through a codified S.E.A. (Strategy, Execution, Accountability) operational framework.

Crest Rock's current portfolio of ten wholly-owned platforms spans conversion intelligence software (Unbounce, merged with Insightly), traffic and intelligent transportation systems (Lumin8 Transportation Technologies), managed hybrid cloud and PaaS (Opti9 Technologies, formed by merging Webair and Jelecos and later adding HostedBizz and Aptible), eDiscovery (CloudNine), enterprise sales enablement (Pitcher), specialty alloy welding consumables and nickel products (Midalloy and Specialty Materials), employee relocation (Relocity), healthcare IT (PPi), and automotive thermal/NVH fiber (NexForm Technologies, formed via carve-out from Motus Integrated Technologies). Distribution is direct and relationship-driven, sourced through investment bankers, intermediaries, portfolio executives, and PE networks rather than marketing channels.

The firm monetizes via management fees and carried interest on its private equity funds; pricing and LP terms are not publicly disclosed. Portfolio operations are supported by an in-house CFO/CCO, VP of Operations, Controller, and dedicated operating partners, with add-on M&A executed heavily within transportation infrastructure and cloud services platforms. Corporate philanthropy includes the Pledge 1% commitment and volunteer engagements with We Don't Waste, Clayton Cares Market, and Judi's House/JAG Institute.

Name

Crest Rock Partners

Legal name

Crest Rock Partners

Website

https://www.crestrockpartners.com/

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Crest Rock Partners is a Denver-based private equity firm founded in 2019 that makes control-oriented investments in lower middle market software, technology, business services, manufacturing, and industrial companies with enterprise values of $15-200 million.

Ownership category

akta.pro rank

Product category

Private Equity Investment Management

NAICS

Management Consulting Services (54161)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Corporate Innovation & Technology Scouting Units (with investment mandate) (FSANAHAI)

Keywords

• Private equity investing
• Lower middle market
• Control buyouts
• Growth capital
• Portfolio management

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices4 records

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 Investment Returns: Crest Rock Partners generates returns through equity investments in lower middle market companies, utilizing an operationally focused approach with control-oriented investments in software, technology, business services, and industrial companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Crest Rock Partners is a Denver-based private equity firm making control-oriented investments in the lower middle market. The firm targets companies with enterprise values between $15 million and $200 million and deploys equity checks of $25-75 million (with capability up to $100 million) across software, technology, IT services, tech-enabled business services, manufacturing, and industrial services. The firm partners with management teams to provide capital and operational expertise to drive growth, transition, or transformation.

Product overview

Crest Rock Partners is an operationally focused private equity firm making control-oriented investments in the lower middle market, targeting software, technology, IT services, tech-enabled business services, manufacturing, and industrial services. The firm's portfolio includes marketing technology platforms (Unbounce's conversion intelligence and AI-powered landing page software), cloud infrastructure providers (Opti9's managed hybrid cloud, PaaS via Aptible), eDiscovery and legal technology (CloudNine), sales enablement (Pitcher's Super App with CRM/ERP integration), healthcare IT (PPi's Care Compass care management/EHR platform), automotive components (NexForm's NVH fiber solutions), industrial manufacturing and distribution (Midalloy's specialty alloys, Specialty Materials' pipe and tubing), relocation technology (Relocity's AI-driven mobility platform), and transportation infrastructure (Lumin8's ITS services).

Differentiator

Problem solved

Functional benefit

Products and services

• Lower Middle Market Private Equity Investment Control-oriented private equity investment services targeting lower middle market companies with enterprise values between $15 million and $200 million. The firm deploys equity checks of $25-75 million (with capability up to $100 million) across software, technology, IT services, tech-enabled business services, manufacturing, and industrial services, partnering with management teams and founders to provide capital and operational support.
• Operational Partnership Services Operational support and partnership services delivered to portfolio companies using the firm's proprietary S.E.A. (Strategy, Execution, Accountability) framework. The firm brings 30+ years of collective investment and operations experience to bear on tactical strategy, execution discipline, and accountability across investments.

Quantifiable outcome

• Unbounce has helped customers generate over 1 billion conversions since inception
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability8 records

Partnerships

Five partnerships are on record, tiered minor.

• Kutak Rock LLPminorOthers · 30 June 2021Kutak Rock LLP acted as the legal advisor to Crest Rock on the CloudNine investment transaction.
• Pledge 1%minorOthersCrest Rock has taken the Pledge 1% commitment, adopting the vision of Marc Benioff, Salesforce's founder. This corporate philanthropy movement commits the firm to dedicating a portion of future success to support nonprofits in their community.
• We Don't WasteminorOthersLocal nonprofit organization that Crest Rock team members volunteer at and support through the Pledge 1% initiative.
• Clayton Cares MarketminorOthersLocal nonprofit organization serving Clayton Early Learning that Crest Rock supports through volunteer efforts and the Pledge 1% commitment.
• Judi's House/JAG InstituteminorOthersGrief support nonprofit organization that Crest Rock team members volunteer at and support through their community involvement initiatives.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Marlin Equity Partners: Los Angeles-based lower middle market PE firm where both co-founders (Jeff Carnes and Steve Johnson) were senior investment professionals; specializes in technology, software, and services businesses with similar control-oriented, operationally engaged approach.
• L Squared Capital Partners: Newport Beach-based lower middle market PE firm focused on control investments in education, technology, and business services companies; similar in control-oriented mandate, equity check range, and operational partnership emphasis.
• Wynnchurch Capital: Chicago-based lower middle market PE firm where Ben Hayes was an Investment Analyst; specializes in operationally intensive investments in middle-market industrial and business services companies with complex carve-outs and special situations.
• Aterian Investment Partners: New York-based lower middle market PE firm that partners with founder- and family-led industrial, business services, and consumer businesses; comparable in deal size, operational engagement model, and cross-sector approach.
• Brentwood Associates: Los Angeles-based lower middle market PE firm where Andrew Carlin was a Senior Associate; invests in operating businesses across consumer, business services, and industrials with a hands-on operational approach similar to Crest Rock.
• Platte River Equity: Denver-based lower middle market PE firm (also a prior employer of Michelle Eidson) that invests in differentiated, growing industrial and consumer products businesses; particularly comparable given shared Denver HQ and lower middle market focus.
• Shorehill Capital: Chicago-based lower middle market PE firm where Michelle Eidson was a Managing Director; invests in control and structured equity positions in industrial and consumer businesses — a close analogue in check size and operating-partner model.
• Argonaut Private Equity: Tulsa-based lower middle market PE firm targeting control investments in manufacturing, industrial services, and value-added distribution; similar in check size, focus on operationally complex businesses, and partnership with founder/management teams.
• The Gores Group: Beverly Hills-based lower middle market PE firm where Steve Johnson was a Vice President; focuses on acquiring and partnering with operating businesses in technology, business services, and industrials — highly comparable in mandate and size.
• Riverside Partners: Boston-based lower middle market PE firm that invests in healthcare and specialty industrials businesses with $25-150M equity checks; closely comparable in check size, sector breadth within industrials, and founder/family partnership model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xlinkedin.com/company/crest-rock-partners
• LinkedInlinkedin.com/company/crest-rock-partners

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments8 records

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

Frequently asked questions about Crest Rock Partners