What CQL Capital does

CQL Capital is a privately held lower middle market private equity firm headquartered in Manhattan Beach, California, that provides direct equity investments to family- and founder-owned businesses seeking their first private equity partnership. The firm was co-founded by Managing Partners Darrick Geant and Dana Rosenberg, with Michael Duffy as Partner and Travis Rue as Operating Partner, drawing on 85+ years of combined investing and operating experience from Goldman Sachs, Barclays Capital, Credit Suisse, Donaldson Lufkin & Jenrette, The California Endowment, and Breakwater Management. CQL targets North American companies in Business Services, Diversified Industrials, Infrastructure Services, Specialty Manufacturing, Professional Services, and Value-Added Distribution.

The firm structures investments through leveraged buyouts, majority recapitalizations, ownership transitions, corporate divestitures, and preferred or common equity, with a stated emphasis on tailoring transaction structure to each seller's goals rather than imposing standardized terms. CQL generates revenue through capital appreciation of portfolio companies, realized gains at exit, fund management fees, and carried interest on successful investments. Its go-to-market is relationship-driven rather than marketing-driven, sourcing deals through founder networks, investment banking relationships, and personal referrals rather than auctions or broad origination campaigns.

CQL's documented portfolio consists of three companies: Matcon Group (Vancouver, Canada; specialty foundation, excavation, environmental, and civil infrastructure services), Knappett Industries (Nanaimo, Canada; hydro, telecom, water, sewer, building, environmental, and wastewater utilities services), and Erie Strayer (Erie, Pennsylvania; fourth-generation family-owned manufacturer of concrete batching plants, tilt mixers, and control systems). The firm maintains board representation across these portfolio companies and, in February 2026, completed the acquisition of Erie Strayer alongside a co-investor consortium led with Star Mountain Capital and including UMB Private Investments, Tecum Capital, Brookside Capital Partners, and Everside Capital Partners. The firm has no proprietary technology, no AI/ML capability, and no software product surface.

Name

CQL Capital

Legal name

CQL Capital LLC

Website

https://cqlcapital.com

Company type

Private

Operating status

Operating

Short description

CQL Capital is a Manhattan Beach, California-based lower middle market private equity firm that makes direct equity investments in family- and founder-owned businesses across Business Services, Industrials, Infrastructure, Specialty Manufacturing, Professional Services, and Value-Added Distribution.

Ownership category

akta.pro rank

Product category

Private Equity Investment Management

NAICS

Other Investment Pools and Funds (5259), Other Financial Investment Activities (5239)

akta.pro primary industry

Business Services (B2B) Growth Equity (FSANACAD)

Keywords

• Private equity investments
• Lower middle market
• Family-owned businesses
• Founder-owned businesses
• Leveraged buyouts

Headquarters

HQ city

Manhattan Beach

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. Private Equity Investment Returns: CQL Capital generates returns through capital appreciation of portfolio companies, realized gains upon exit, management fees from fund operations, and carried interest from successful investments. The firm invests equity capital alongside management teams and original owners, creating value through strategic guidance, operational resources, and growth capital deployment.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

CQL Capital provides direct private equity investments in family- and founder-owned businesses in the lower middle market. Transaction structures include leveraged buyouts, majority recapitalizations, ownership transitions, corporate divestitures, and preferred/common equity investments. The firm partners with founders and families while preserving company culture and leadership, deploying capital alongside management teams and original owners.

Product overview

CQL Capital is a lower middle market private equity investment firm that does not offer a unified software product or platform. Instead, the firm provides private equity investment services focused on direct equity investments in family- and founder-owned businesses. The firm's investment portfolio includes three portfolio companies: Matcon Group (specialty infrastructure and construction services), Knappett Industries (civil infrastructure services), and Erie Strayer (industrial equipment manufacturing and aftermarket solutions). These portfolio companies operate independently as distinct brands within the private equity firm's investment holdings.

Differentiator

Problem solved

Functional benefit

Products and services

• Matcon Group Specialty infrastructure and construction services company based in Vancouver, Canada, providing specialty foundation, excavation, environmental, and civil infrastructure services. It operates as a portfolio company under CQL Capital's investment portfolio.
• Knappett Industries Civil infrastructure services company based in Nanaimo, Canada, providing specialty hydro, telecom, water, sewer, building, environmental, and wastewater utilities services. It operates as a portfolio company under CQL Capital's investment portfolio.
• Erie Strayer Fourth-generation family-owned industrial equipment manufacturer and aftermarket solutions provider headquartered in Erie, Pennsylvania, specializing in premium concrete batch plants, tilt mixers, and batching control systems for the construction industry. It operates as a portfolio company under CQL Capital's investment portfolio following CQL's strategic investment in February 2026.

Quantifiable outcome

• Over 85 years of combined private company investing and operating experience

Named customers3 records

Segments7 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Direct peers

• Shoreline Equity Partners: Shoreline Equity Partners is a lower middle market PE firm partnering with family/founder-owned industrial and infrastructure services businesses — directly comparable in deal size, sector focus, and seller profile to CQL Capital.
• Audax Group: Audax is one of the largest lower middle market PE firms, focused on control buyouts of North American companies with EBITDA between $5M-$50M. Both firms target the same entrepreneur/family-owned business segment with relationship-driven sourcing.
• Garnett Station Partners: Garnett Station Partners is a lower middle market PE firm partnering with founders and family-owned businesses across business services, industrial, and consumer verticals — directly overlapping with CQL Capital's mandate and target industries.
• L Squared Capital Partners: L Squared Capital is a lower middle market PE firm that partners with founders and family-owned businesses in business services, industrials, and infrastructure — a closely comparable strategy to CQL Capital's first-time sponsor focus.
• Trinity Hunt Partners: Trinity Hunt Partners is a lower middle market PE firm focused on family- and founder-owned businesses in business services and industrial services, sharing CQL Capital's relationship-driven, culture-preserving approach.
• Huron Capital Partners: Huron Capital is a lower middle market PE firm executing buyouts and recapitalizations of business services, industrial, and specialty distribution companies owned by founders and families — directly overlapping CQL Capital's verticals.
• Argonaut Private Equity: Argonaut Private Equity is a lower middle market PE firm focused on founder/family-owned businesses in industrial, infrastructure, and business services — closely aligned with CQL Capital's niche and target industries.

Emerging players

• Star Mountain Capital: Star Mountain Capital is a direct co-investor alongside CQL in Erie Strayer, and operates as a lower middle market PE firm focused on the same North American target industries — making it both a co-investor and a closely overlapping competitor.
• Kaho Partners: Kaho Partners is an emerging lower middle market PE firm partnering with founder and family-owned businesses in industrial and business services — overlapping with CQL's strategy but operating at a smaller scale.
• Tecum Capital Partners: Tecum Capital is a lower middle market PE firm focused on industrial and business services companies, and participated as co-investor in CQL Capital's Erie Strayer deal — indicating direct competitive overlap and existing co-investor relationship.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about CQL Capital