Private Equity Firm Business Services

The Stephens Group

Little Rock, Arkansas, United States

The Stephens Group is a private investment firm that partners with management teams to help build valuable businesses. Backed by the resources of the Stephens family, it targets investments across industries including industrial and commercial products and services, specialty distribution, B2B food and consumer products, technology infrastructure and tech-enabled services, and select opportunistic situations.

Focus Areas
Private investment, Cross-industry buy-and-build partnering

Tracked deals

43

43 tracked deals across 2019-2026.

Recent pace

5

5 tracked deals announced in the last 12 months.

Deal mix

Addon

23 addon · 11 buyout · 8 growth capital

The Stephens Group Acquisition Volume by Year

Last 8 years

Acquisition volume by year Annual acquisition counts for the last 8 years for The Stephens Group. 5 2019 5 2020 5 2021 12 2022 2 2023 6 2024 3 2025 ~7 est. 5 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

Showing the 12 most recent of 43 tracked deals for The Stephens Group.

  • Astro Pak LLC Acquires Frontline Global Services, Inc.
    July 7, 2026
    Buyer
    Astro Pak LLC, The Stephens Group LLC
    Target
    Frontline Global Services, Inc.
    Industry
    Industrial Services
    Location
    Texas, United States
    Type
    Addon

    Astro Pak LLC, a portfolio company of The Stephens Group LLC, announced its acquisition of Frontline Global Services, Inc., a provider of comprehensive cleaning and reliability solutions for industrial and commercial equipment. The deal expands Astro Pak’s field service capabilities and increases its total locations to 14 across the United States, Canada, and Puerto Rico.

  • Aptus Aero Acquires E.M.C. Aerospace, Inc.
    June 17, 2026
    Buyer
    Aptus Aero, LLC, The Stephens Group, LLC
    Target
    E.M.C. Aerospace, Inc.
    Industry
    Aerospace & Defense
    Location
    Florida, United States
    Type
    Addon

    Aptus Aero, LLC, a portfolio company of The Stephens Group, acquired E.M.C. Aerospace, Inc. E.M.C. Aerospace is a FAA Part 145 open class repair station in North Miami Beach, Florida providing component maintenance, repair, and overhaul (MRO) services for power generation, pneumatic, hydraulic, fuel, and other aircraft systems. The acquisition is Aptus Aero’s second deal since forming in 2026, and is intended to strengthen the platform’s repair and parts sourcing capabilities for global passenger, cargo, and military customers.

  • IMA Financial Group Completes $4B Equity Recapitalization With Oak Hill and New Mountain as Minority Backers
    May 13, 2026
    Buyer
    Oak Hill Capital, New Mountain Capital, HarbourVest Partners, SkyKnight Capital, The Stephens Group
    Target
    IMA Financial Group, Inc.
    Seller
    SkyKnight Capital, The Stephens Group
    Industry
    Insurance
    Location
    Colorado, United States
    Type
    Recapitalization

    IMA Financial Group, Inc., a North American insurance brokerage, completed an equity recapitalization valued at about $4 billion. Oak Hill Capital and New Mountain Capital took minority stakes, with HarbourVest Partners and select institutional co-investors participating, while IMA’s 3,000+ employees retained majority ownership.

  • The Stephens Group Forms Aptus Aero and Acquires Atlas Aerospace Accessories
    April 14, 2026
    Buyer
    Aptus Aero, LLC, The Stephens Group, LLC
    Target
    Atlas Aerospace Accessories, LLC, Atlas Aerospace Accessories, LLC (Atlas Aerospace), Atlas Aerospace Accessories, LLC (Atlas Aerospace)
    Industry
    Aerospace & Defense
    Location
    Florida, United States
    Type
    Addon

    The Stephens Group formed Aptus Aero, a new aviation MRO platform focused on acquiring and scaling component maintenance, repair, and overhaul businesses, and completed the acquisition of Atlas Aerospace Accessories. Atlas Aerospace Accessories is a Part 145 repair station based in Doral, Florida, providing component repair services across pneumatics, hydraulics, electromechanical systems, electronics, and fuel systems.

  • Astro Pak Acquires Clean Sciences to Expand Precision Cleaning Footprint
    March 20, 2026
    Buyer
    Astro Pak LLC, The Stephens Group, LLC
    Target
    Clean Sciences, LLC
    Industry
    Industrial Services
    Location
    California, United States
    Type
    Addon

    Astro Pak LLC, a portfolio company of The Stephens Group, acquired Clean Sciences, LLC, a precision cleaning services provider. The deal expands Astro Pak’s cleanroom footprint into Northern California and strengthens its ultrasonic and high-purity cleaning capabilities for semiconductor and defense end markets.

  • Kele, Inc. Acquires Ponton Industries
    May 13, 2025
    Buyer
    Kele, Inc., The Stephens Group, LLC
    Target
    Ponton Industries
    Industry
    Industrial Services
    Location
    California, United States
    Type
    Addon

    Kele, Inc., a portfolio company of The Stephens Group, has acquired Ponton Industries, an instrumentation sales and consulting firm headquartered in Yorba Linda, California. The add-on expands Kele's industrial automation and instrumentation footprint—particularly across the Western U.S.—and integrates Ponton's engineering consulting and technical support capabilities into the Kele Companies.

  • The Stephens Group Makes Growth Investment in Kalkomey Enterprises
    March 6, 2025
    Buyer
    The Stephens Group, LLC
    Target
    Kalkomey Enterprises, LLC
    Industry
    Education
    Location
    Texas, United States
    Type
    Growth capital

    The Stephens Group, LLC has made a minority growth investment in Kalkomey Enterprises, LLC, a Richardson, Texas-based provider of online recreational safety education and software for government agencies and consumers. The investment joins Stephens Group with existing backers Macquarie Capital and Weatherford Capital to support Kalkomey’s continued product, geographic, and market expansion.

  • The Stephens Group Acquires Astro Pak
    February 5, 2025
    Buyer
    The Stephens Group, LLC
    Target
    Astro Pak LLC
    Industry
    Industrial Services
    Location
    California, United States
    Type
    Buyout

    The Stephens Group, LLC has acquired Astro Pak LLC, a provider of high-purity and precision cleaning and cleanroom services for regulated industries. The investment positions Astro Pak to accelerate growth across end markets such as pharmaceuticals, biotechnology, semiconductors and aerospace while preserving the company’s culture and technical capabilities; Houlihan Lokey served as financial advisor to Astro Pak.

  • The Stephens Group and Circumference Group Provide Growth Capital to The Computer Works
    December 11, 2024
    Buyer
    The Stephens Group, LLC, Circumference Group
    Target
    The Computer Works (TCW)
    Industry
    Telecommunications
    Location
    Arkansas, United States
    Type
    Growth capital

    The Computer Works (TCW), an Arkansas-based fiber and fixed wireless internet provider, received a growth capital investment led by The Stephens Group, LLC alongside existing investor Circumference Group. The funding will accelerate TCW’s fiber expansion into underserved Arkansas communities, support preparation for BEAD funding opportunities, and scale its voice and hosting service offerings.

  • Circumference Group, TPO and Stephens Capital Partners Acquire Majority Stake in Visionary Integration Professionals (VIP)
    October 9, 2024
    Buyer
    Circumference Group, The Pritzker Organization, Stephens Capital Partners
    Target
    Visionary Integration Professionals (VIP)
    Industry
    IT Services
    Location
    California, United States
    Type
    Buyout

    Circumference Group, in partnership with The Pritzker Organization and Stephens Capital Partners, has acquired a majority stake in Visionary Integration Professionals (VIP), a digital transformation and systems integration consultancy. VIP founder and CEO Jonna Ward will remain in place as the firm looks to scale capabilities and expand services across public-sector and commercial clients with support from the new investors.

  • Catalyst Acoustics Group Acquires Madrid, Inc.
    May 15, 2024
    Buyer
    Catalyst Acoustics Group, The Stephens Group, LLC
    Target
    Madrid, Inc.
    Industry
    Building Products
    Location
    California, United States
    Type
    Addon

    Catalyst Acoustics Group, a portfolio company of The Stephens Group, acquired the assets of Madrid, Inc., a California-based maker of premium acoustical wood products for architectural ceilings. The add-on expands Catalyst's product capabilities in wood acoustics while Madrid will retain autonomy and gain access to CAG's operational and financial resources.

  • The Stephens Group Makes Strategic Investment in VisionSafe
    April 23, 2024
    Buyer
    The Stephens Group, LLC
    Target
    VisionSafe, LLC
    Industry
    Aerospace & Defense
    Location
    Hawaii, United States
    Type
    Growth capital

    The Stephens Group, LLC completed a strategic growth investment in VisionSafe, LLC to accelerate the company's research & development, certification efforts, sales and customer support while positioning VisionSafe as a Stephens Group platform. VisionSafe, headquartered in Kaneohe, Hawaii, is a long-running developer and manufacturer of the Emergency Vision Assurance System (EVAS) and provides maintenance and inspection services for cockpit smoke displacement systems across commercial, cargo, business and government aircraft.

Related Acquisition Pages

Industrial Services Buyers & Acquisitions 15 tracked deals by The Stephens Group. Building Products Buyers & Acquisitions 8 tracked deals by The Stephens Group. Manufacturing Buyers & Acquisitions 5 tracked deals by The Stephens Group. Aerospace & Defense Buyers & Acquisitions 3 tracked deals by The Stephens Group. Acquisitions in California 6 tracked deals by The Stephens Group. Acquisitions in Arkansas 3 tracked deals by The Stephens Group. Acquisitions in Florida 3 tracked deals by The Stephens Group. Acquisitions in Texas 3 tracked deals by The Stephens Group.

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