Montlake Capital

What Montlake Capital does

Montlake Capital is a Seattle-based private equity firm founded in 1999 (previously known as Buerk Dale Victor, renamed in January 2010) that provides growth equity, management buyouts, recapitalizations, and search fund partnerships to lower-middle-market companies in the Pacific Northwest. The firm targets businesses with $20-100 million in revenue and $1-10 million in EBITDA, with explicit sector focus on B2B & Infrastructure, Consumer, and Technology. Montlake invests primarily from its own balance sheet, supported principally by family office partners alongside equity and debt capital providers, and structures both control and non-control positions.

The firm operates with a small core team of three (Managing Director Andy Dale, Investment Team Member Noel de Turenne, Controller Karen Cameron) augmented by an extended operating partner network that provides hands-on operational support such as interim CFO placement, leadership recruitment, banking relationships, and information systems development to portfolio companies. The active portfolio includes SWS Equipment (environmental heavy equipment), Fast Water Heater (water heater services), Fedelta Home Care (home healthcare), i4cp (HR/people performance SaaS), Theo Chocolate (organic chocolate), and Zing Foods (wellness bars). Historical exits include Acme Packet (sold to Oracle), 128 Technology (sold to Juniper), Veriwave (sold to Ixia/Keysight), Performant (sold to Mercury Interactive), ClearMed (sold to Stericycle), Escapia (sold to HomeAway), and Coastal Community Bank (IPO, $41.3 million raised in July 2018).

The firm's revenue model relies on management fees, carried interest from successful exits, and direct investment returns rather than a public product or pricing schedule. Deal sourcing is network-driven through accountants, attorneys, family offices, financial advisors, investment banks, brokers, and other PE/VC firms, with a company website and LinkedIn profile serving as supplementary channels. Geographic focus is exclusively regional, with coverage across Washington, Oregon, Idaho, Montana, and California, and no stated international footprint.

Name

Montlake Capital

Legal name

Montlake Capital

Website

https://montlakecapital.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

Montlake Capital is a Seattle-based private equity firm providing growth equity, management buyouts, and recapitalizations to Pacific Northwest companies with $20-100M revenue and $1-10M EBITDA across B2B/Infrastructure, Consumer, and Technology sectors.

Ownership category

akta.pro rank

Product category

Private Equity / Growth Equity Investment

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Business Services (B2B) Growth Equity (FSANACAD)

Keywords

• Growth equity investments
• Management buyout financing
• Recapitalization services
• Pacific Northwest private equity
• Search fund partnerships

Headquarters

HQ city

Seattle

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. Investment Management: Montlake generates returns through equity investments in Pacific Northwest companies. Revenue derived from management fees, carried interest on successful exits, and investment returns. They invest from their own balance sheet supported by family office partners alongside equity and debt capital providers.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Montlake Capital is a Seattle-based private equity firm that provides growth equity investments, management buyouts, recapitalizations, and search fund partnerships to mid-market companies in the Pacific Northwest. The firm targets businesses with $20-$100 million in revenue and $1-$10 million in EBITDA, deploying capital from its own balance sheet alongside family office partners across three core sectors: B2B & Infrastructure, Consumer, and Technology.

Product overview

Montlake Capital is a private equity firm providing growth equity investments, management buyouts, recapitalizations, and search fund investments for companies in the Pacific Northwest. The firm targets companies with $20-100 million revenue and $1-10 million EBITDA. Its investment portfolio spans three core sectors: B2B & Infrastructure (including SWS Equipment, Fast Water Heater, AA Asphalting, Northshore Paving, PR Systems), Consumer (including Fedelta Home Care, Theo Chocolate, Zing Foods), and Technology. The firm has a multi-decade track record with a long-term investment horizon, focusing on strategic and operational value creation alongside capital investment.

Differentiator

Problem solved

Functional benefit

Named customers6 records

Segments3 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.

• Professional Intermediaries NetworkminorOthersValued relationships with professional service providers including accountants, attorneys, business owners, executives/CEOs, financial advisors, investment banks/brokers, lenders, and other PE/VC firms who refer potential investment opportunities.

Scale indicators3 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Cascadia Private Capital: Pacific Northwest-focused private investment firm that has co-invested directly with Montlake (notably in SWS Equipment), pursuing growth equity and recapitalizations in similar lower-middle-market companies. Direct co-investor and most direct comparable in geography, size, and strategy.
• Endeavour Capital: Portland, Oregon-based growth equity firm investing in Pacific Northwest companies across business services, consumer, and technology, with similar revenue and EBITDA target ranges. Long-tenured regional PE peer with comparable thesis.
• Northwest Capital Partners: Pacific Northwest lower-middle-market PE firm focused on management buyouts, recapitalizations, and growth investments in regional companies. Closely matches Montlake's transaction types, deal size, and regional concentration.
• Yellowstone Growth Partners: Pacific Northwest-focused growth equity firm backing founder- and family-owned businesses with $10–100M revenue. Comparable in target check size, sector mix, and operating-partner-led value creation approach.
• Point B Capital: Seattle-based private investment firm formed by the founders of Point B Consulting, providing growth capital and MBOs to Pacific Northwest businesses. Operates in the same regional lower-middle-market with similar deal structures.
• HCI Equity Partners: Lower-middle-market growth equity firm focused on services, consumer, and technology companies, often partnering with founders and management teams. Comparable in target EBITDA range, growth orientation, and sector mix.

Regional players

• Sorenson Capital: Salt Lake City-based growth equity firm investing in technology, business services, and consumer companies in the Mountain West and Pacific Northwest. Geographic-adjacent peer with similar check sizes and sector focus.

Broad incumbents

• The Riverside Company: Large global lower-middle-market private equity firm investing in business services, consumer, and technology companies. Overlaps with Montlake's target segment and sector mix but at meaningfully greater scale and with a global sourcing footprint.
• CI Capital Partners: Middle-market private investment firm pursuing control and structured equity investments in business services, consumer, and industrial growth companies. Comparable in deal type, target EBITDA range, and value-creation approach, though larger and broader in reach.

Emerging players

• Volition Capital: Boston-based growth equity firm backing founder-led, high-growth technology and consumer companies. Comparable in growth-equity orientation and target company profile, though operating primarily in a different geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/montlake-capital

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments14 records

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

Frequently asked questions about Montlake Capital