Private Equity Firm Financial Services

Ariel Alternatives

New York, New York, United States

Ariel Alternatives, LLC is the private equity affiliate of Ariel Investments, LLC. Its inaugural fund (“Project Black”) targets scaling sustainable, market-leading middle-market businesses in high-growth sectors, including a focus on minority-owned businesses and increasing Fortune 500 supplier diversity.

Focus Areas
Private equity / private asset management, Middle-market investing, Sustainable and diversity-focused investing

Tracked deals

4

4 tracked deals across 2022-2026.

Recent pace

1

1 tracked deal announced in the last 12 months.

Deal mix

Buyout

4 buyout

Ariel Alternatives Acquisition Volume by Year

Last 4 years

Acquisition volume by year Annual acquisition counts for the last 4 years for Ariel Alternatives. 1 2022 1 2023 1 2025 ~1 est. 1 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Ariel Alternatives Acquires Front Line Power Construction
    February 18, 2026
    Buyer
    Ariel Alternatives, Cherokee Nation Businesses
    Target
    Front Line Power Construction
    Industry
    Industrial Services
    Location
    Texas, United States
    Type
    Buyout

    Ariel Alternatives has acquired Front Line Power Construction, an electrical construction and power infrastructure services provider. Cherokee Nation Businesses will co-invest as a strategic minority partner, with the partnership intended to meet rising demand for electrical grid improvements across Texas. Financial terms were not disclosed.

  • Ariel Alternatives Acquires Groome Industrial Service Group from Argosy Private Equity
    September 9, 2025
    Buyer
    Ariel Alternatives, LLC, JPMorgan Chase & Co.
    Target
    Groome Industrial Service Group
    Seller
    Argosy Private Equity
    Industry
    Industrial Services
    Location
    New Jersey, United States
    Type
    Buyout

    Ariel Alternatives, with a minority co-investment from JPMorgan Chase & Co., has acquired Groome Industrial Service Group from Argosy Private Equity. The transaction gives Ariel a platform in energy and utility services — Groome operates more than 20 U.S. locations with ~900 employees and will leverage Ariel's industry relationships to pursue faster market-share growth and accretive acquisitions.

  • Ariel Alternatives (Project Black) Acquires Majority Stake in My Code
    November 30, 2023
    Buyer
    Ariel Alternatives, LLC (Project Black)
    Target
    My Code
    Seller
    Falfurrias Capital Partners, My Code management and employees, Other investors
    Industry
    Marketing & Advertising
    Location
    New York, United States
    Type
    Buyout

    Ariel Alternatives' fund Project Black has acquired a 58.5% stake in My Code at an enterprise valuation of $400 million. The majority investment — from existing shareholders including Falfurrias Capital Partners, My Code management and employees, and other investors — will support My Code's growth as a scaled multicultural marketing and media supplier to Fortune 500 clients.

  • Ariel Alternatives Acquires Majority Stake in Sorenson
    April 4, 2022
    Buyer
    Ariel Alternatives, LLC
    Target
    Sorenson
    Seller
    Blackstone Credit, A fund managed by Franklin Mutual Advisers, Private credit accounts managed by KKR
    Industry
    Telecommunications
    Location
    Utah, United States
    Type
    Buyout

    Ariel Alternatives, LLC has acquired a 52.5% majority stake in Sorenson at an enterprise valuation of $1.3 billion, with existing shareholders (including Blackstone Credit, a Franklin Mutual Advisers fund, and private credit accounts managed by KKR) retaining minority stakes. The investment will support expansion of Sorenson's accessible communication products and platforms for Deaf and hard-of-hearing communities globally, while bringing new leadership and board expertise to accelerate product, security, and regulatory capabilities.

Related Acquisition Pages

Industrial Services Buyers & Acquisitions 2 tracked deals by Ariel Alternatives. Marketing & Advertising Buyers & Acquisitions 1 tracked deal by Ariel Alternatives. Telecommunications Buyers & Acquisitions 1 tracked deal by Ariel Alternatives. Acquisitions in New Jersey 1 tracked deal by Ariel Alternatives. Acquisitions in New York 1 tracked deal by Ariel Alternatives. Acquisitions in Texas 1 tracked deal by Ariel Alternatives. Acquisitions in Utah 1 tracked deal by Ariel Alternatives.

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