Private Equity Firm Industrial Services

Mill Rock Capital

New York, New York, United States

Mill Rock Capital is a growth and operations-oriented private investment firm that invests in well-positioned middle-market industrial businesses in North America. It focuses on family-owned businesses, owner-operators, and founder-led companies, supporting business transformation through a dual-sourcing strategy that includes majority equity and Activ Capital® (debt/senior equity/hybrid).

Focus Areas
Chemicals, Materials & packaging, Industrial distribution

Tracked deals

11

11 tracked deals across 2019-2025.

Recent pace

0

0 tracked deals announced in the last 12 months.

Deal mix

Addon

8 addon · 2 growth capital · 1 buyout

Mill Rock Capital Acquisition Volume by Year

Last 6 years

Acquisition volume by year Annual acquisition counts for the last 6 years for Mill Rock Capital. 1 2019 3 2021 2 2022 3 2023 1 2024 1 2025

Supporting Data

Recent Transactions

  • Buyer
    Venture Metals+, Mill Rock Capital
    Target
    Thalheimer Brothers LLC, Mega Metals LLC
    Location
    United States
    Type
    Addon

    Venture Metals+, a portfolio company of Mill Rock Capital, has acquired Thalheimer Brothers LLC (Philadelphia, PA) and Mega Metals LLC (Phoenix, AZ). The add-on deal expands Venture Metals' non-ferrous and titanium recycling capabilities, increases processing capacity and extends the platform's geographic reach across the U.S. and Asia.

  • Buyer
    Tandym Group, Mill Rock Capital, ICG
    Target
    Kolter Solutions
    Industry
    Staffing & HR
    Type
    Addon

    Tandym Group, a national consulting, recruitment, and workforce solutions provider backed by Mill Rock Capital and ICG, has acquired Kolter Solutions, a Maitland, Florida-based technology staffing and recruitment firm. The add-on acquisition expands Tandym's presence in Florida and strengthens its Healthcare IT staffing capabilities; terms were not disclosed.

  • Buyer
    DRT Holdings, LLC, Mill Rock Capital
    Target
    Custom Machining Corporation
    Seller
    Terri Ross, Allan Ross
    Industry
    Manufacturing
    Type
    Addon

    DRT Holdings, LLC (DRT), a portfolio company of Mill Rock Capital, has acquired Custom Machining Corporation (CMC), a Denver-based maker of high-speed, high-precision liner systems and parts for the metal packaging industry. The founders, Terri and Allan Ross, will step back following the transaction; CMC will join DRT's Metal Packaging Systems (DRT MPS) segment to broaden product capabilities, aftermarket parts and geographic reach. Terms were not disclosed.

  • Buyer
    Mill Rock Advanced Materials LLC, Mill Rock Capital
    Target
    Asbury Carbons, Inc.
    Seller
    Riddle family, Asbury Carbons Employee Stock Ownership Plan
    Industry
    Manufacturing
    Type
    Buyout

    Mill Rock Capital has launched a new growth platform, Mill Rock Advanced Materials LLC, and concurrently acquired Asbury Carbons, Inc. from the Riddle family and Asbury's Employee Stock Ownership Plan. As part of the deal, Stephen A. Riddle invested in the company and will remain on the board; Mill Rock named Gregg A. Jones CEO and announced several senior hires to support growth and selective acquisitions; financial terms were not disclosed.

  • Buyer
    Mill Rock Packaging Partners LLC, Mill Rock Capital
    Target
    Keystone Paper & Box Company
    Industry
    Packaging
    Type
    Addon

    Mill Rock Packaging Partners LLC, a specialty packaging platform backed by Mill Rock Capital, has acquired Keystone Paper & Box Company, a custom folding carton manufacturer based in South Windsor, Connecticut. Keystone's management has made a significant investment in the platform and will remain in place; the deal expands Mill Rock Packaging's footprint to the Eastern U.S. and builds the platform's national specialty packaging capabilities. Terms were not disclosed.

  • Buyer
    Grammer Logistics, Stellex Capital Management LLC, Mill Rock Capital
    Target
    Logistics Management Resources, Inc.
    Type
    Addon

    Grammer Logistics, a PE-backed hazardous chemicals transportation and logistics provider, has acquired Logistics Management Resources, Inc. (LMR), a Baton Rouge–based third-party logistics and transportation management provider focused on chemicals and industrial gases. The acquisition, completed Oct. 24, 2022, expands Grammer's transportation management capabilities and complements its asset and non-asset service offerings as part of its PE-backed growth strategy.

  • Buyer
    Tandym Group, Mill Rock Capital
    Target
    Metro Systems, Inc.
    Industry
    Staffing & HR
    Type
    Addon

    Tandym Group, a national recruitment and workforce solutions company backed by Mill Rock Capital, has acquired Metro Systems, a Virginia-based IT staffing and direct-hire firm. The acquisition expands Tandym's technology vertical (Tandym Tech), broadening its service offerings and geographic reach; terms were not disclosed.

  • Buyer
    Mill Rock Capital, Intermediate Capital Group (ICG)
    Target
    The Execu|Search Group
    Seller
    New Heritage Capital
    Industry
    Staffing & HR

    Mill Rock Capital, in partnership with Intermediate Capital Group (ICG), has made a significant investment in The Execu|Search Group (TESG), a New York–based recruitment and workforce solutions firm. The investment, which involved the exit of New Heritage Capital, will support TESG's growth, geographic expansion and enhancement of service capabilities; founder Ed Fleischman retains a meaningful minority stake and management remains involved.

  • Buyer
    Mill Rock Packaging Partners LLC, Mill Rock Capital
    Target
    All Packaging Company
    Industry
    Packaging
    Type
    Addon

    Mill Rock Packaging Partners, the specialty packaging platform backed by Mill Rock Capital, has acquired All Packaging Company, a paperboard folding carton manufacturer based in Aurora, Colorado. The acquisition (terms undisclosed) expands Mill Rock Packaging's Western U.S. footprint and capabilities across design, printing and converting while All Packaging's president Kenneth Pepper and senior management retain ownership stakes and will continue to lead the business.

  • Buyer
    Mill Rock Capital
    Target
    DRT Holdings, Inc.
    Industry
    Manufacturing

    Mill Rock Capital, a growth-oriented private investment firm, has completed a strategic growth investment in DRT Holdings, Inc., a precision manufacturer serving container, aerospace and precision markets. The investment will support DRT's operational and commercial growth; several Mill Rock principals have joined DRT's board. Financial terms were not disclosed.

  • Buyer
    Venture Metals, LLC, Mill Rock Capital Management LP (and affiliates)
    Target
    Versatile Processing Group, Inc.
    Seller
    Insight Equity Holdings LLC
    Type
    Addon

    Mill Rock Capital affiliates made a strategic investment in Venture Metals and, in connection with that investment, Venture Metals acquired Versatile Processing Group (VPG) from Insight Equity. The transaction combines two U.S. metal recycling providers to form a larger platform with an expanded processing footprint (six facilities) and combined annual revenues in excess of $700 million, supported by more than 200 associates.

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