Evolis Capital

What Evolis Capital does

Evolis Capital is a Montreal-based private equity firm founded in 2024 that acquires established small-to-mid-size businesses generating $1M–$10M in EBITDA. The firm targets five verticals — Business Services, Industrial Products & Services, Manufacturing & Packaging, Life Sciences Services, and Software & Tech Services — and pursues control buyouts while remaining flexible on co-investment with existing owners or management. It is led by Partners Quilan Foster and Adnan Mkamel and supported by an Advisory Board comprising Jerry Lin (Director at Sagard), Ludovic Dumas (Founder at Valorys), and Wils Theagene (Founder at Citadelle Capital).

The firm positions itself as an active owner-operator rather than a passive capital provider. Investment criteria emphasize businesses with recurring, re-occurring, or contract-based revenue, an active leadership role (either supporting the existing team or stepping into direct management), and a long-term horizon that includes openness to permanent ownership. Stakeholder engagement is treated as a core tenet of the value-creation approach.

Distribution is relationship-driven rather than mass-marketed: outreach is conducted via LinkedIn, direct email ([email protected]), and personal networking aimed at founders and owners navigating retirement, succession, or next-phase growth. No fund size, AUM, portfolio companies, or proprietary technology platform are disclosed in the source material.

Name

Evolis Capital

Legal name

Evolis Capital

Website

https://evoliscapital.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Evolis Capital is a Montreal-based private equity firm founded in 2024 that acquires control stakes in small-to-mid-size businesses generating $1M–$10M EBITDA across five verticals, serving founders seeking retirement, succession, or next-phase growth partnerships.

Ownership category

akta.pro rank

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Private Equity Returns / Capital Gains: Evolis Capital generates returns through acquiring established businesses with $1M-$10M EBITDA, implementing value-creation strategies, and eventually exiting investments for capital gains. They take an active ownership role and focus on long-term value creation.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Evolis Capital is a private equity firm that acquires controlling stakes in established small to mid-size businesses generating $1M–$10M in EBITDA across Business Services, Industrial Products & Services, Manufacturing & Packaging, Life Sciences Services, and Software & Tech Services. The firm takes an active ownership role—either supporting existing management teams or stepping into direct management—to drive long-term value creation. They partner with entrepreneurs during business transitions such as retirement, succession, or next-phase growth, and offer flexible structures including full buyouts and co-investment arrangements.

Product overview

Evolis Capital is a private equity firm, not a technology product company. The company provides investment management services, partnering with entrepreneurs to facilitate business transitions and create long-term value. Their offering consists of investment partnership and active management services rather than a discrete software product or platform. They target established businesses in sectors including Business Services, Industrial Products & Services, Manufacturing & Packaging, Life Sciences Services, and Software & Tech Services, with a focus on companies generating $1M–$10M in EBITDA.

Differentiator

Problem solved

Functional benefit

Products and services

• Active Investment Management Hands-on ownership service in which Evolis Capital acquires controlling stakes and takes an active leadership role—either by supporting the existing management team to enhance performance or by stepping into direct management when needed. Targeted at founders and owners of established businesses generating $1M–$10M in EBITDA across Business Services, Industrial Products & Services, Manufacturing & Packaging, Life Sciences Services, and Software & Tech Services.
• Buyout Acquisitions Full-control buyout transactions targeting established businesses with $1M–$10M in EBITDA. Includes flexibility to welcome co-investment from existing owners or management teams when aligned with the transaction strategy. Designed for business owners seeking liquidity events or full transition of ownership.
• Business Transition Support Tailored investment and operational support for business owners navigating pivotal transitions, including retirement, succession planning, and next-phase growth. Service emphasizes legacy preservation, accelerated growth through strategic insights, and engagement with stakeholders throughout the ownership period. The firm is open to permanent ownership where it aligns with strategy.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• ValorysminorOthersLudovic Dumas, Founder at Valorys, serves on the Evolis Capital Advisory Board. Valorys appears to be a technology or consulting firm; the relationship provides advisory expertise and industry connections.
• Citadelle CapitalminorOthersWils Theagene, Founder at Citadelle Capital, serves on the Evolis Capital Advisory Board. The relationship provides advisory expertise and potentially shared network access in the private equity ecosystem.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Wynnchurch Capital: US-based private equity firm focused on lower middle-market companies, often carved out from larger entities. Comparable to Evolis in EBITDA band and active operational involvement, though operating at larger scale in the US.
• Audax Group: US private investment firm with a long-running lower middle-market buyout strategy. Comparable to Evolis in focus on small-to-mid EBITDA businesses and active ownership, scaled to a much larger US platform.

Direct peers

• Birch Hill Equity Partners: Toronto-based Canadian private equity firm making control investments in mid-market companies. Directly comparable in deal size, active management orientation, and Canadian focus.
• Champlin Advisory: Canadian advisory and investment firm focused on business transitions and succession planning. Directly comparable to Evolis in transition-focused value proposition for SME owners in Canada.
• Novacap: Quebec-based private equity firm with a long history of middle-market buyouts in Canada and the US. Directly comparable to Evolis as a Canadian lower mid-market sponsor with an active ownership approach, though typically at slightly larger scale.
• Walter Global Asset Management: Montreal-based private investment firm with a focus on succession and partnerships with entrepreneurs. Geographic and thesis-aligned peer to Evolis in the Quebec PE ecosystem.
• Clairvest Group: TSX-listed Canadian private equity firm specializing in control buyouts and growth capital in the lower middle market. Closely comparable to Evolis's thesis of acquiring established businesses with active ownership.
• Pillarfour Capital: Canadian private equity firm investing in founder-led, lower middle-market businesses. Comparable to Evolis in thesis around partnering with founders and providing patient capital for transitions.
• Persistence Capital Partners: Canadian private equity firm focused on healthcare and specialty services. Comparable mid-market Canadian PE sponsor with a similar active ownership orientation, though concentrated in healthcare verticals.

Emerging players

• iNovia Capital: Montreal-based venture and growth investor. Geographic peer with different stage focus (earlier-stage tech), but comparable to Evolis in the Quebec entrepreneur ecosystem and relationship-driven approach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/evoliscapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Evolis Capital