Industrial Growth Partners
Industrial Growth Partners targets industrial platform companies headquartered in the United States or Canada. Its stated criteria include revenue up to $250 million, EBITDA up to $40 million, strong market positions, and manufacturing or industrial-services businesses that preferably sell intermediate products in business-to-business settings.
Industrial Growth Partners publicly describes a platform-and-add-on strategy focused on industrial businesses.
It targets U.S. or Canadian-headquartered platforms, has no stated geographic limits on add-on acquisitions, and identifies entrepreneur or family-owned recapitalizations, corporate divestitures, and private-equity-owned companies as transaction types.[1][2][3][4][5]
What does Industrial Growth Partners invest in?
Industrial Growth Partners is an industrial-focused private equity firm founded in 1997. The firm states that it has raised $3.4 billion in equity capital across six funds. IGP Industries, LLC does business as Industrial Growth Partners and is listed by the SEC as an investment adviser.
IGP states that it works collaboratively with management teams and supports efforts to build value in industrial businesses. Its publicly described support includes strategic involvement and assistance with acquisitions, including identifying candidates, structuring and negotiating proposals, conducting due diligence, and closing transactions.[1][2][3][10]
IGP describes a customized, collaborative approach rather than a standard value-creation recipe. The firm states that it typically employs lower leverage than private equity peers and is committed to stable, long-term platforms.
IGP’s current portfolio materials state that the firm is investing out of its sixth fund, activated with $1.2 billion in 2022, and is seeking new platform investments and strategic add-ons.[3][5]
Owners evaluating a financial buyer can compare the offer with independent valuation analysis, understand how acquirers approach transactions through Auxo’s buy-side M&A process guide, and consider whether a full or partial sale best fits their objectives.
Published criteria: Revenue up to $250 million and EBITDA up to $40 million, subject to IGP's other stated criteria.[4]
What should a business owner evaluate before considering a transaction with Industrial Growth Partners?
Owners evaluating IGP can compare their business against the firm’s stated parameters: industrial manufacturing or services, revenue up to $250 million, EBITDA up to $40 million, a strong market position, and a preferably business-to-business model involving intermediate products. IGP also publicly identifies family-owned recapitalizations, corporate divestitures, and private-equity-owned companies as transaction types.
IGP’s materials describe collaboration with management, lower leverage than private equity peers, platform investing, and support for strategic add-on acquisitions. Owners should clarify the applicable fund or vehicle, current investment parameters, control and rollover expectations, leverage approach, management and governance arrangements, expected ownership horizon, and transaction-expense and working-capital provisions directly with IGP.[3][4][5]
Which Fund VI or successor vehicle would fund a new platform investment, and what is the remaining deployment capacity
What current revenue, EBITDA, valuation, and equity-investment ranges are being prioritized
Does IGP seek majority control, and what rollover-equity expectations apply to selling owners
What companies does Industrial Growth Partners target?
IGP’s stated target criteria include revenue up to $250 million and EBITDA up to $40 million. The firm seeks manufacturing and industrial-services businesses that preferably sell intermediate products in a business-to-business setting and have strong market positions.
IGP identifies entrepreneur or family-owned recapitalizations, corporate divestitures, and private-equity-owned companies as transaction types.[4]
IGP focuses on industrial businesses. Its preferred sectors include aerospace and defense components; analytical instruments and measuring devices; critical industrial services; electrical and electronic equipment; engineered materials; fluid control, filtration and pumps; healthcare and safety equipment; industrial components and equipment; infrastructure and power products; process instrumentation and controls; specialty chemicals, adhesives and coatings; and testing and inspection services.[4]
IGP targets platform companies headquartered in the United States or Canada. The firm states that there are no geographic limits on add-on acquisitions.[4]
IGP distinguishes between platform investments and strategic add-on acquisitions. Its portfolio materials state that the firm is seeking both new platform investments and strategic add-ons while investing out of Fund VI.
IGP’s publicly described M&A support includes identifying acquisition candidates, structuring and negotiating proposals, conducting due diligence, and closing transactions.[3][5]
IGP’s portfolio archive states that the firm has completed more than 40 platforms and more than $6 billion in transaction value. Recent identified platform activity includes the acquisition of Marki Microwave by Industrial Growth Partners VI, L.P., in partnership with the Marki family and management, on November 21, 2025. IGP also identified Lamart Corporation as an acquisition by Industrial Growth Partners VI, L.P., in partnership with the Hirsh family and management, on August 3, 2026.[5][6][9]
IGP announced an agreement to sell Prince & Izant to TransDigm Group for approximately $1.066 billion, not inclusive of certain tax benefits. The announcement describes the transaction as an agreement to sell.
Following IGP’s November 2025 acquisition of Marki Microwave, Marki acquired LintrinsIC Semiconductors on April 17, 2026, and Saetta Labs on April 20, 2026. IGP stated that these were Marki’s first two add-on acquisitions following the IGP transaction.[7][8][9]
What is not clear from Industrial Growth Partners's public investment criteria?
The IGP portfolio archive lists companies and business descriptions but does not disclose acquisition dates, consideration amounts, financing terms, or ownership status for each listed company.
The 2026 IGP presentation does not state a standard investment holding-period range or minimum equity-check amount.[4][5]
Questions to ask when evaluating Industrial Growth Partners as a buyer or investment partner
Which Fund VI or successor vehicle would fund a new platform investment, and what is the remaining deployment capacity?
What current revenue, EBITDA, valuation, and equity-investment ranges are being prioritized?
Does IGP seek majority control, and what rollover-equity expectations apply to selling owners?
How does IGP determine leverage for a new platform?
What management continuity, incentive-equity, and governance arrangements are typical?
What is the expected investment horizon and approach to exit timing?
Which portfolio companies could provide commercial, operational, or add-on-acquisition synergies?
Sources & research notes
- Official website / firm overview
- Official website / firm overview
- Services / capabilities
- Industry / market focus
- Transaction / portfolio evidence
- Transaction / portfolio evidence
- Transaction / portfolio evidence
- Transaction / portfolio evidence
- Transaction / portfolio evidence
- SEC investment adviser record
- SEC filing / regulatory record
How this profile was researched
Auxo profiles are prepared from publicly available primary and authoritative sources and reviewed for entity identity, factual support and disclosure consistency. When a fact cannot be supported by the reviewed public record, the profile identifies it as something to confirm directly rather than inferring it.
Independent research profile
This profile was prepared by Auxo Capital Advisors from publicly available information believed to be reliable and is provided solely for informational and educational purposes. It is not an endorsement, recommendation, ranking, solicitation, or representation regarding the profiled firm, its services, qualifications, transaction experience, regulatory status, financial condition, or suitability for any particular person, company, transaction, or investment.
Information obtained from third-party and public sources may be incomplete, inaccurate, outdated, or subject to change, and Auxo Capital Advisors makes no representation or warranty, express or implied, as to its accuracy, completeness, or timeliness. Readers should conduct their own independent diligence and consult appropriate professional advisers before engaging any advisor, intermediary, investor, lender, acquirer, or other transaction counterparty.
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