Aurora Capital Partners Review: The Los Angeles Lower Mid-Market Leader
Everything you need to know about Aurora Capital Partners: their lower mid-market buyout strategy, notable portfolio companies, deal criteria, and how to position your business for investment.
Aurora Capital Partners is a leading Los Angeles-based private equity firm with $6 billion in assets under management. Founded in 1991, Aurora has built a reputation for partnering with management teams to build market-leading companies in the lower mid-market.
In September 2025, Aurora closed over $2.1 billion for Aurora Equity Partners VII, demonstrating continued investor confidence in their lower mid-market approach. The firm has completed over 255 transactions with approximately $6 billion in equity capital deployed.
Investment Focus & Thesis
Aurora Capital Partners focuses on control-oriented buyouts in the lower middle market. Their investment thesis centers on partnering with talented management teams to build market-leading companies:
Investment Range
Equity investments typically ranging from $25 million to $75 million in companies with enterprise values of $100 million to $500 million.
Sector Focus
Industrials, business services, healthcare, and consumer products with defensible niche market positions.
- Industrials — Manufacturing, distribution, and industrial services companies
- Business services — Outsourced services and specialized service providers
- Healthcare — Healthcare services and medical device companies
- Consumer products — Branded consumer goods with strong market positions
Notable Portfolio Companies
Aurora Capital Partners has built an impressive portfolio across multiple industries:
| Company | Sector | Notes |
|---|---|---|
| Anova | Industrial | Leading global provider, acquired January 2026 |
| GenServe | Industrial Services | Power generation services |
| First Legal | Business Services | Legal process outsourcing |
| Lubrication Engineers | Industrial | Specialized lubrication solutions |
| Universal Pure | Consumer Products | Food ingredient solutions |
| Impact Environmental | Environmental Services | Waste management industry |
| Pace | Business Services | Marketing services |
Aurora has also achieved notable exits including Mitchell International (insurance software), Joerns Healthcare, and RBC Bearings (acquired by Carlyle for $2.9 billion).
What Aurora Capital Looks For
Based on their investment patterns, Aurora Capital Partners evaluates opportunities based on:
- Defensible market position — Companies with strong niche positions and competitive moats
- Experienced management teams — Management teams with track records and domain expertise
- Growth potential — Clear pathways to revenue growth through market expansion or operational improvements
- Cash flow generation — Businesses with predictable cash flows and ability to service debt
- Value creation opportunity — Opportunities to drive operational improvements through Aurora's Strategy & Operations Program
Pro Tip
Aurora is known for their collaborative approach with management teams. Come prepared with a clear vision for growth and demonstrated ability to execute. They value partnerships over control-heavy approaches.
How to Connect With Aurora Capital
Approaching Aurora Capital requires demonstrating your company's growth potential and management strength:
Demonstrate Market Leadership
Show your defensible market position, customer concentration metrics, and competitive advantages that create barriers to entry.
Build a Strong Management Team
Aurora invests in people. Highlight your management team's experience, domain expertise, and track record of execution.
Prepare Growth Roadmap
Develop a clear plan for growth including market expansion, operational improvements, and potential add-on acquisitions.
Leverage Intermediaries
Many deals come through investment bankers, lawyers, or other advisors with established relationships at Aurora.
The Value of Financial Preparedness
PE firms like Aurora Capital expect detailed financial information and growth projections:
Financial Metrics
- • Three years of audited financials
- • Monthly management reports
- • EBITDA breakdown and trends
- • Working capital analysis
Growth Projections
- • Detailed revenue growth model
- • Margin improvement opportunities
- • Capital expenditure plans
- • Acquisition pipeline (if applicable)
How Eagle Rock Helps
We help lower mid-market companies prepare for PE investment by building robust financial infrastructure, creating detailed growth models, and ensuring your financials are audit-ready. Our fractional CFO services position your company to impress investors like Aurora Capital.
Ready to Prepare for PE Investment?
Whether you're preparing to approach Aurora Capital or other lower mid-market PE firms, having professional financials is essential.
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