BW Forsyth Partners

What BW Forsyth Partners does

BW Forsyth Partners is the investment arm of Barry-Wehmiller Group, a multibillion-dollar global manufacturing and engineering consulting firm founded in 1885. Established in 2009 as Forsyth Capital Investors by Chet Walker, Kyle Chapman, and Ryan Gable with a $100 million commitment from Barry-Wehmiller, the firm operates a hybrid equity model that combines Barry-Wehmiller's 130+ years of operational expertise and people-centric culture with private equity investment acumen. The firm targets small-to-middle-market companies with revenue up to $250M and EBITDA of $1-20M in North America and Europe, with a deliberate focus on founder and family-owned businesses seeking legacy-preserving ownership transitions, management buyouts, corporate carve-outs, and turnaround situations. The firm has completed 40 acquisitions since inception and operates with an evergreen capital base, holding portfolio companies indefinitely rather than pursuing traditional fund-cycle exits.

The firm currently operates seven platform companies across three core verticals: capital and component equipment (Afinitas for concrete/infrastructure equipment, Machine Solutions for medical device process automation, CARR Biosystems), insurance and professional services (Cor Partners for loss adjusting/claims/forensic consulting, WalkerHughes Insurance for retail brokerage), and wealth management (Matter Family Office for UHNW families). Portfolio companies collectively employ over 2,300 team members and generated combined revenue exceeding $500 million as of 2017. Its go-to-market is proprietary and relationship-driven, relying on long-term relationships and reputation rather than intermediated deal flow — the firm explicitly markets itself to founders who want a buyer that will preserve culture and employee welfare rather than extract short-term value. The firm is headquartered at 8027 Forsyth Blvd. in Clayton (St. Louis), Missouri.

Revenue mechanics are entirely operating-driven: as an evergreen capital vehicle without traditional fund structures, the firm generates returns through equity appreciation in its operating companies, supported by Barry-Wehmiller's shared operational infrastructure (12,000+ team members, 100+ locations across 28 countries). Portfolio companies pursue "aggressive yet disciplined" acquisition growth under the firm's oversight, exemplified by Cor Partners' 12x+ revenue expansion under BW Forsyth stewardship and WalkerHughes' eight-plus add-on acquisitions between 2024 and 2026. Leadership transitioned in 2020 with Ryan Gable's promotion to Managing Partner as Kyle Chapman moved to President of Barry-Wehmiller, establishing the current operating structure.

Name

BW Forsyth Partners

Legal name

BW Forsyth Partners, LLC

Website

https://bwforsyth.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

BW Forsyth Partners is the investment arm of Barry-Wehmiller, operating as a hybrid equity firm that acquires and indefinitely holds small-to-middle-market companies in capital equipment, insurance services, and wealth management, leveraging Barry-Wehmiller's operational expertise and evergreen capital.

Ownership category

akta.pro rank

Product category

Private Equity / Hybrid Equity Investment

NAICS

Other Financial Vehicles (525990), Management, Scientific, and Technical Consulting Services (5416)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Business Services (B2B) Growth Equity (FSANACAD)

Keywords

• Private equity firm
• Hybrid equity investing
• Capital equipment investing
• Insurance services investment
• Family office wealth management

Headquarters

HQ city

St Louis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Portfolio Company Operations: Generates returns through ownership stakes in operating companies across capital equipment, component equipment, and insurance services sectors. Operates platform companies indefinitely rather than pursuing short-term exits.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

BW Forsyth Partners is a hybrid equity/private equity firm that acquires, builds, and indefinitely holds small-to-middle-market operating companies in capital equipment, component equipment, insurance services, and wealth management sectors. The firm combines Barry-Wehmiller's 130+ years of operational expertise and people-centric culture development with private equity investing acumen to support founder and family-owned business transitions. It operates seven portfolio platforms (Afinitas, Machine Solutions Inc., Cor Partners, WalkerHughes Insurance, Chapman & Co. Leadership Institute, CARR Biosystems, and Matter Family Office) with combined revenue exceeding $500 million.

Product overview

BW Forsyth Partners operates a multi-platform investment portfolio focused on capital and component equipment and insurance/professional services sectors. The firm manages seven operating companies: Afinitas (infrastructure/precast concrete equipment), CARR Biosystems, Chapman & Co. Leadership Institute (leadership development), Cor Partners (insurance services), Machine Solutions (medical device equipment), Matter Family Office (wealth management), and WalkerHughes Insurance (retail brokerage). These platforms serve diverse markets including manufacturing, healthcare, insurance, and wealth management through organic growth and strategic acquisitions.

Differentiator

Problem solved

Functional benefit

Products and services

• Afinitas Infrastructure equipment platform designing and manufacturing capital equipment for concrete pipe, manholes, precast concrete production, and related infrastructure components, serving global construction and infrastructure markets.
• Machine Solutions, Inc. Medical device process automation and testing equipment platform providing catheter manufacturing equipment including balloon-forming, laser-welding, necking, braiding, leak testing, and coating machines for medical device OEMs worldwide.
• Cor Partners Insurance services platform providing commercial and personal lines loss adjusting, claims management, forensic engineering, fire and explosion consulting, and risk management services for insurance carriers, brokers, and corporations. Includes Engle Martin, Eberl Claims Service, Envista Forensics, and PT&C Forensics brands.
• WalkerHughes Insurance Retail insurance brokerage platform providing commercial lines, personal lines, and employee benefits services with integrated operations and proprietary technology systems across multiple U.S. states.
• Chapman & Co. Leadership Institute Leadership institute providing culture development, organizational transformation, and people-centric leadership development services to portfolio companies and external clients, originating from Barry-Wehmiller's culture-building expertise.
• Matter Family Office Multi-family office platform providing integrated wealth management, investment management, strategic wealth planning, family learning and governance, tax planning, and philanthropic consulting for ultra-high-net-worth families. Following the November 2025 merger with IWP Family Office, the combined firm serves over 140 families with more than $10 billion in assets under advisement across St. Louis, Denver, and Dallas-Fort Worth.
• CARR Biosystems Biosystems platform company operating under the BW Forsyth Partners portfolio, focused on life science consumables and equipment.

Quantifiable outcome

• 40 acquisitions completed since 2009 with 4 current operating platforms
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Falfurrias Capital Partners: Sector-focused middle-market private equity firm co-founded by Hugh McColl and Marc Holliday. Directly comparable as a sector-focused PE firm with operational orientation; Chet Walker (BW Forsyth co-founder) serves as Chairman of its Investment Committee.
• Pritzker Private Capital: Family-office-backed middle-market investment firm focused on operating partnership with founder-, family-, and entrepreneur-led businesses. Highly comparable model — long-term capital, operational support, and people-centric culture — directly mirroring BW Forsyth's positioning.
• Lovell Minnick Partners: Sector-focused PE firm with deep financial services and insurance expertise, including insurance brokerage and claims platforms. Highly comparable given BW Forsyth's Cor Partners (Engle Martin, Eberl) and WalkerHughes Insurance verticals.
• CCMP Capital: Middle-market private equity firm with sector focus in Business Services, Industrial, and Consumer. Comparable given BW Forsyth Partner Drew Frailey's prior tenure at CCMP, and overlapping focus areas (industrial, business services platforms).
• Graham Partners: Industrial-focused private equity firm investing in advanced manufacturing, especially engineered components and equipment. Directly comparable to BW Forsyth's capital equipment platforms (Afinitas, Machine Solutions, Baldwin).
• Sterling Group: Operationally-focused middle-market PE firm investing in industrial, distribution, and services businesses. Comparable operating-partnership model and industrial middle-market focus with hands-on value creation.
• Goldner Hawn Johnson & Morrison: Middle-market private equity firm focused on partnership with founder- and family-owned businesses in industrial, distribution, and services sectors. Closely mirrors BW Forsyth's deal sourcing strategy and equity check size.

Broad incumbents

• Baird Capital: Global private equity arm of Robert W. Baird, with sector focus including industrial and business services. Several BW Forsyth team members (Brian Holthouse, Brendan Hollander, Arthur Rybak) are Baird alumni, and the firm pursues comparable middle-market industrial and services investments.
• Audax Group: Middle-market PE firm known for aggressive buy-and-build strategies across multiple sectors. Comparable add-on M&A execution model — particularly relevant for WalkerHughes Insurance's rollup approach.
• Genstar Capital: Middle-market PE firm with sector focus in financial services, industrial, and healthcare. Comparable given overlapping sectors (insurance, industrial equipment, healthcare-adjacent medical device capital equipment).

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bwforsyth
• LinkedInlinkedin.com/company/bw-forsyth-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors

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

M&A1 record

Investments4 records

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

Frequently asked questions about BW Forsyth Partners