Svoboda Capital

What Svoboda Capital does

Svoboda Capital Partners LLC is a Chicago-based private equity firm founded in January 1998 by John Svoboda and Michelle Collins, focused exclusively on investing in lower middle market growth companies. The firm manages over $400 million of committed capital across four funds and has completed 100+ closed transactions since founding. Svoboda invests exclusively in the business services sector, with three stated verticals: professional services (IT services, consulting, marketing/advertising, government relations, strategic communications), industrial & commercial services (facility services, HVAC, engineering, testing/inspection), and transportation & logistics services (third-party logistics, value-added distribution, freight, warehousing).

The firm operates a traditional partnership-led private equity model rather than a technology platform. Typical transactions involve $10-25M equity investments in companies with $10M-$100M revenue and $3M-$15M EBITDA, with total enterprise values of $25M-$150M. Svoboda generates revenue through management fees on committed capital (recurring) and carried interest on realized investment gains (transaction-based/event-driven). Deal flow is sourced through relationship-based deal sourcing with intermediaries, advisors, and a network cultivated over 25+ years, supplemented by content marketing via LinkedIn and the firm's website. The firm is headquartered at One North Franklin Street, Suite 1105, Chicago, IL, with US-only operations and 51-100 total employees, of whom 6-9 are investment professionals and 9 are Advisory Board members.

Portfolio company holdings span marketing agencies (Highdive, The Variable, Marcus Thomas, Bully Pulpit Interactive), IT services (SWC Technology Partners, Kenway Consulting), industrial distribution (Triad Technologies, Reliable Parts), consumer products (Cigar Accessories Holdings/XIKAR, Sonoma Creamery), and government relations (Axiom Advisors). Recent strategic activity includes new platform investments in 2024 (Highdive, Axiom Advisors), portfolio bolt-on acquisitions (Preferred Electric via Horwitz), and structured exits with retained minority stakes (BPI recapitalization by Broad Sky Partners, 2023).

Name

Svoboda Capital

Legal name

Svoboda Capital Partners LLC

Website

https://svoco.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

51–100 employees

Short description

Svoboda Capital Partners is a Chicago-based private equity firm founded in 1998 that invests exclusively in lower middle market business services companies, writing $10-25M equity checks across professional services, industrial & commercial services, and transportation & logistics sectors, managing $400M+ across four funds.

Ownership category

akta.pro rank

Product category

Private Equity (Lower Middle Market)

NAICS

All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (52394)

SIC

Investors, Nec (6799)

akta.pro primary industry

Micro-PE / Lower Middle Market ETA Funds (FSANALAG)

Keywords

• Private equity investing
• Lower middle market
• Leveraged buyouts
• Business services investments
• Growth equity capital

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Management Fees: Private equity firm generates revenue through management fees on committed capital under management.
2. Carried Interest / Performance Fees: Earns carried interest on investment gains when portfolio companies are exited successfully.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Svoboda Capital Partners is a Chicago-based private equity firm that invests exclusively in the lower middle market, targeting companies with $10M–$100M revenue and $3M–$15M EBITDA in professional services, industrial & commercial services, and transportation & logistics services. The firm makes equity investments of $10–$25 million per company in partnership with management teams through leveraged buyouts, majority recapitalizations, and growth equity structures. Across four funds, the firm manages over $400 million of committed capital and has completed 100+ transactions since its 1998 founding.

Product overview

Svoboda Capital Partners is a Chicago-based private equity firm that invests exclusively in the lower middle market. The firm focuses on three core sectors: professional services, industrial & commercial services, and transportation & logistics services. Rather than offering technology products, Svoboda Capital provides private equity investment and partnership services to growth-oriented businesses, typically making investments of $10 to $20 million per company in partnership with management teams. The firm has a track record of partnering with over 50 management teams since its founding in 1998 and manages over $400 million of committed capital across multiple funds.

Differentiator

Problem solved

Functional benefit

Products and services

• Leveraged Buyout Investments Equity investments of $10–$25 million per company, partnering with management teams to acquire control of lower middle market business services companies with $10M–$100M revenue.
• Majority Recapitalization Investments Majority recapitalization transactions that provide liquidity to founders/owners while preserving management operating involvement at lower middle market business services companies.
• Growth Equity Investments Minority or majority equity capital to support strategic growth initiatives, add-on acquisitions, and market expansion at lower middle market business services companies.

Named customers12 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Portfolio Company Management TeamscoreStrategic or Co-development PartnerSvoboda Capital partners with management teams of portfolio companies to provide capital, operational expertise, and strategic guidance for growth through organic initiatives, add-on acquisitions, and market expansion.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cortec Group: Lower middle market PE firm investing in business services, consumer, and specialty industrial companies. Comparable as a sector-overlapping lower middle market services-focused investor.
• Main Post Partners: PE firm whose portfolio company Fortis Solutions Group acquired Infinite Packaging Group from Svoboda in 2019. Comparable as a lower middle market peer in industrial services and packaging.
• Sterling Investment Partners: Lower middle market PE firm focused on business services and consumer companies. Comparable by fund size, sector focus, and lower middle market buyout strategy.
• Shorehill Capital: Chicago-based lower middle market private equity firm that partnered with Svoboda to recapitalize Triad Technologies in 2019. Closely comparable by geography, size, and focus on business services and industrial companies.
• Shore Capital Partners: Chicago-based PE firm focused on microcap and lower middle market healthcare and B2B services. Closely comparable in fund size, sector focus, and geographic proximity to Svoboda.
• Five Points Capital: Lower middle market PE firm that executed the management-led buyout of Blake & Pendleton from Svoboda in 2017. Comparable as a direct successor investor in Svoboda's portfolio and as a similarly-sized lower middle market firm.
• Broad Sky Partners: PE firm that majority-recapitalized Bully Pulpit Interactive from Svoboda in 2023, with Svoboda retaining minority equity. Comparable as a peer in marketing/communications services investing at similar fund size.
• Truelink Capital: Los Angeles-based PE firm pending acquisition of Horwitz from Svoboda in 2026. Comparable as a direct peer in lower middle market industrial and business services investing.

Broad incumbents

• Madison Dearborn Partners: Large Chicago-based PE firm investing across services and consumer sectors. Comparable by Chicago geography and services exposure, though at substantially larger fund sizes than Svoboda.
• GTCR: Established Chicago-based PE firm with significantly larger AUM, focused on growth companies across services and technology. Comparable as a Chicago-based PE peer, though operating at a meaningfully larger scale than Svoboda.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments11 records

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

Frequently asked questions about Svoboda Capital