Private Equity Firm Financial Services

Backcast Partners

New York, New York, United States

New York-based private capital investment firm providing debt and equity solutions to middle-market companies, including private-equity-backed, family-owned, and management-owned businesses. It supports acquisitions, growth initiatives, and refinancings through managed funds and a network of operating partners.

Focus Areas
Private credit, Senior secured debt, Preferred equity

Tracked deals

8

8 tracked deals across 2021-2026.

Recent pace

2

2 tracked deals announced in the last 12 months.

Deal mix

Growth capital

3 growth capital · 2 addon · 2 buyout

Backcast Partners Acquisition Volume by Year

Last 5 years

Acquisition volume by year Annual acquisition counts for the last 5 years for Backcast Partners. 1 2021 2 2023 1 2024 2 2025 ~2 est. 2 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Backcast Partners, Raven Capital Management, Cloverlay
    Target
    Crossroads Live, Inc.

    Backcast Partners provided a strategic senior secured debt investment to support the recapitalization of Crossroads Live, Inc. Crossroads is an existing portfolio company of Raven Capital Management and Cloverlay, which have built the company through incremental acquisitions in theatrical IP touring.

  • Buyer
    Backcast Partners
    Target
    Sisu Energy & Environmental, LLC
    Industry
    Energy

    Backcast Partners provided debt capital to support growth and expansion for Sisu Energy & Environmental, LLC. Sisu, headquartered in Tulsa, Oklahoma, designs, engineers, installs, and maintains exhaust system casings for gas turbines, with growing demand tied to AI datacenter power needs.

  • Buyer
    Seneca Partners, Backcast Partners
    Target
    Nomlas Ventures Inc. (Busmax)
    Seller
    Salmon family
    Industry
    Transportation
    Type
    Buyout

    Seneca Partners, an independent financial sponsor, has acquired Nomlas Ventures Inc. (doing business as Busmax), a Rome, Georgia-based passenger bus, van and car rental company. Backcast Partners provided and agented the senior secured debt (with warrants) to support the transaction; the Salmon family will retain a minority ownership stake.

  • Buyer
    Argand Partners, Backcast Partners
    Target
    Ballet Makers Inc. (Capezio)
    Seller
    Terlizzi family, Giacoio family
    Type
    Buyout

    Argand Partners, a New York-based middle-market private equity firm, has acquired Ballet Makers Inc. (the Capezio brand) from the Terlizzi and Giacoio families; terms were not disclosed. Backcast Partners provided senior secured debt and preferred equity to support the transaction, and several family members — including CEO Michael Terlizzi — will remain invested and in management as Argand pursues product innovation and international growth.

  • Buyer
    Chartwell Investments (CHIEF Capital), Backcast Partners Management, LLC, Source Capital
    Target
    World Water Works, Inc.

    Chartwell Investments' CHIEF Capital has led a growth investment in World Water Works (WWW), with Backcast Partners and Source Capital joining as capital partners to fund the company's expansion and innovation initiatives. World Water Works, a U.S.-based provider of water and wastewater treatment systems and services headquartered in Oklahoma City, will use the capital to accelerate growth, develop new solutions for industrial and municipal clients, and solidify its market-leading position.

  • Buyer
    Guardian Fleet Services, Backcast Partners
    Target
    Euless B&B Wrecker Service
    Seller
    Andy Chesney, Debi Chesney
    Industry
    Transportation
    Type
    Addon

    Guardian Fleet Services has acquired Euless B&B Wrecker Service, marking Guardian's first location in Texas and continuing its roll-up expansion beyond Florida. The Chesney family (Andy & Debi) will remain involved in leadership, and Backcast Partners provided follow-on investment to support the acquisition as part of Guardian's platform growth strategy.

  • Buyer
    Chartwell Investments Entrepreneur & Founder Capital (CHIEF Capital), Source Capital (SCCO IV), Backcast Partners, Morgan Stanley Private Credit
    Target
    Guardian Fleet Services, Emerald Transportation, Sapp's Wrecker Service
    Seller
    Jennings family, Sapp family
    Industry
    Trucking & Fleet

    Chartwell Investments Entrepreneur & Founder Capital (CHIEF Capital) led a growth investment into Guardian Fleet Services, with financing and co-investment support from Source Capital, Backcast Partners and Morgan Stanley Private Credit. Guardian used proceeds to merge and acquire Emerald Transportation (Pompano Beach, FL) and Sapp's Wrecker Service (Savannah, GA), expanding Guardian's footprint to 23 locations and strengthening its towing, recovery and specialized transportation fleet across Florida and Georgia.

  • Buyer
    Memorial MRI & Diagnostic, Panos Partners, Backcast Partners
    Target
    Prime Diagnostic Imaging, Foundation Physicians Group
    Type
    Addon

    Memorial MRI & Diagnostic, the healthcare services platform backed by Dallas-based private equity firm Panos Partners, acquired Dallas-Fort Worth-based Prime Diagnostic Imaging and its pain management arm, Foundation Physicians Group. The add-on expands Memorial's footprint to 17 locations across the Dallas-Fort Worth and Houston metroplexes and was supported by additional capital from Backcast Partners.

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