What Irving Place Capital does

Irving Place Capital (IPC) is a New York-based middle-market private equity firm founded in 1997 by John Howard, the former co-CEO of Vestar Capital Partners. The firm operates as Irving Place Capital Management, L.P. and traces its lineage to Bear Stearns Merchant Banking (BSMB), from which it spun out as an independent sponsor in 2008. IPC invests control equity in companies with enterprise values typically between $100 million and $1 billion across four core verticals: Consumer, Industrial, Packaging, and Healthcare. To date, the firm has executed more than 60 transactions, including landmark deals such as Vitamin Shoppe (acquired 2002, NYSE IPO 2009 at a $1.5 billion market capitalization), Multi Packaging Solutions (EBITDA quadrupled during ownership), Pet Supplies Plus (acquired 2010, sold 2018), and Alpha Packaging (acquired 2010, sold 2021 to Clearlake Capital-backed Pretium Packaging).

The firm is led by Co-Managing Partners John Howard and Phil Carpenter III, supported by Partners, a Principal, an Associate, CFO/CCO Joshua Suchow (ex-KPMG), and a network of Senior Advisors and Functional Specialists. IPC differentiates through its proprietary "Strategic Services" platform, which delivers operational support in cost reduction, infrastructure, purchasing and supply chain, treasury, real estate, and executive management across the portfolio. The firm generates revenue through conventional private equity mechanics—annual management fees (industry-standard 1.5-2.0%) on committed capital under management across multiple fund vehicles (IPC Manager II LLC, IPC Manager III L.P., IPC Manager III SPV L.P., IPC Group III L.P.), supplemented by carried interest on realizations.

IPC's go-to-market is relationship-driven rather than product-driven: deal sourcing relies on a proprietary network, industry conferences, and referral relationships with investment banks and business brokers, while LP capital is raised through direct institutional outreach. Portfolio company end markets extend across North America and selectively into Europe and the Caribbean. The firm is SEC-registered as an investment adviser, is GDPR-compliant for EU website visitors, and maintains its headquarters at 745 Fifth Avenue in New York.

Name

Irving Place Capital

Legal name

Irving Place Capital Management, L.P.

Website

https://irvingplacecapital.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

1–10 employees

Short description

Irving Place Capital is a New York-based middle-market private equity firm founded in 1997, investing control equity in Consumer, Industrial, Packaging, and Healthcare companies with enterprise values of $100 million to $1 billion, having completed over 60 transactions across multiple fund vehicles.

Ownership category

akta.pro rank

Product category

Middle-Market Private Equity

NAICS

Investment Banking and Securities Intermediation (523150), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)

Keywords

• Private equity investments
• Middle-market buyouts
• Portfolio company management
• Growth capital 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, Technology or R&D

Revenue model

1. Management Fees: Annual management fees charged on committed capital under management, typically 1.5-2% of assets under management
2. Carried Interest: Performance-based incentive fees (typically 20% of profits above hurdle rate) earned upon successful realization of portfolio company investments

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Irving Place Capital is a middle-market private equity firm that makes control equity investments in companies with enterprise values typically between $100 million and $1 billion across Consumer, Industrial, Packaging, and Healthcare sectors. The firm executes buyouts, recapitalizations, and growth investments sourced through its proprietary network and intermediary relationships, then supports portfolio companies through a proprietary Strategic Services platform delivering operational expertise in cost reduction, infrastructure building, purchasing and supply chain, treasury operations, and executive management. Revenue is generated through management fees on committed capital under management plus carried interest on profitable realizations of portfolio company investments.

Product overview

Irving Place Capital is a middle-market private equity investment firm, not a product technology company. It does not offer a unified software product, platform, or suite of modules. Its core offering is private equity investment and capital management services, including buyouts, recapitalizations, and growth investments across select industry verticals (Consumer, Industrial, Packaging, Healthcare, and Other). The firm's portfolio of approximately 60 companies represents its investments, not proprietary product offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• Middle-Market Private Equity Buyout Investments
• Strategic Services Platform

Quantifiable outcome

• Over 60 investments completed across Consumer, Industrial, Packaging, and Healthcare sectors
• +2 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and supporting.

• IPC Manager II, LLCcoreOthersAffiliated entity within the Irving Place Capital corporate structure for fund management purposes
• IPC Manager III, L.P.coreOthersAffiliated entity within the Irving Place Capital corporate structure for fund management purposes
• IPC Manager III SPV, L.P.coreOthersAffiliated entity within the Irving Place Capital corporate structure for fund management purposes
• IPC Group III, L.P.coreOthersAffiliated entity within the Irving Place Capital corporate structure for fund management purposes
• AltareturnsupportingTechnology or IntegrationProvides LP reporting platform for Irving Place Capital investors to access fund information and statements

Scale indicators2 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Sentinel Capital Partners: Middle-market private equity firm investing in lower middle-market companies, comparable in check size and sector mix (consumer, industrial, business services). Sentinel acquired Pet Supplies Plus from Irving Place Capital in 2018, evidencing direct transactional overlap.
• Vestar Capital Partners: Middle-market PE firm with overlapping Consumer/Industrial focus. Vestar is John Howard's former firm (where he served as co-CEO), and the two share investment philosophy, sector concentration, and deal-size range, making Vestar a direct comparable for IPC's strategy.
• Audax Group: Large middle-market PE firm executing buy-and-build strategies across Consumer, Industrial, and Business Services. Highly comparable to IPC in check size, sector mix, and build-up orientation, and represents the scaled mid-market player IPC competes against.
• Brockway Moran & Partners: Middle-market PE firm historically focused on Consumer and Industrial sectors. Direct comparable to IPC given shared sector focus and lower middle-market orientation; Phil Carpenter (IPC Co-Managing Partner) previously worked at Brockway Moran.
• AEA Investors: Middle-market PE firm with Consumer, Industrial, and Packaging exposure. Comparable in check size and operating-value-add orientation to IPC, with overlapping sector theses.
• American Industrial Partners: Middle-market PE firm specializing in industrial and packaging businesses. Highly comparable to IPC's Industrial and Packaging vertical focus and build-up approach, with similar check sizes.
• Centre Partners: Middle-market PE firm with Consumer and Industrial focus. Directly comparable in check size, sector mix, and operating partnership model to IPC's approach.

Broad incumbents

• New Mountain Capital: Larger middle-market PE firm with Consumer, Industrial, and Healthcare exposure. Comparable in sector mix and operating-value-add approach to IPC, though at a meaningfully larger fund size.
• Clearlake Capital Group: Larger PE firm that acquired Alpha Packaging from IPC in 2021 (via portfolio company Pretium Packaging). Comparable in Packaging sector focus, and a direct transactional counterparty, though operating at a larger fund size than IPC.

Regional players

• Veritas Capital Management: PE firm focused on technology, government services, and industrial end markets. Keith Zadourian (IPC Partner) previously worked at Veritas, evidencing sector-adjacent overlap and personnel cross-pollination with IPC's Industrial practice.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A23 records

Investments8 records

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

Frequently asked questions about Irving Place Capital