Lake Capital Review: Business Services and Technology Private Equity

In-depth review of Lake Capital: their investment thesis, portfolio companies, typical deal sizes.

Key Takeaways

  • •Focus on Business Services, Healthcare, Technology companies
  • •Investment range: $50M-$250M in equity
  • •Based in Chicago; Founded 2014
  • •Control-oriented investments
  • •Growth equity focus

Notable Portfolio

Lake Capital has built a diverse portfolio across multiple sectors:

  • Healogics — Healthcare — Wound care services
  • PhyNet — Healthcare — Physician services
  • RealPage — Technology — Property management software
  • Rave Safety — Safety services
  • Sterling Background Checks — Background screening
  • InReach — Healthcare — Veteran services

What Lake Looks For

Lake Capital seeks to build leading services companies through organic and acquisition-enhanced growth, typically allocating $50-75 million of equity per initiative:

  • Recurring revenue — Stable revenue streams
  • Market position — Strong competitive position
  • Growth potential — Clear expansion opportunities
  • Management — Strong management teams

Pro Tip

Lake is known for scaling service businesses. Be prepared to discuss growth strategies.

Pro Tip

Demonstrate a strong management team with equity ownership alignment.

Frequently Asked Questions

What industries does Lake Capital focus on?

Lake Capital primarily invests in Business Services, Education, Technology. The firm seeks companies with strong market positions and clear growth trajectories.

What size companies does Lake Capital acquire?

Lake Capital typically invests $50M-$250M in equity, targeting companies with enterprise values in the lower to middle market range.

What is Lake Capital's typical investment size?

The firm's equity investments generally range from $50M-$250M, positioning them as active investors who can provide meaningful capital for growth.

How long does Lake Capital's due diligence process take?

Due diligence timelines vary by deal complexity, but Lake Capital typically conducts thorough financial, operational, and market due diligence over several weeks to months.

What should I prepare before engaging with Lake Capital?

Prepare three years of audited financials, detailed market analysis, management team bios, growth plans, and a clear vision for how the partnership would create value.

How does Lake Capital work with portfolio companies?

Lake Capital takes a partnership approach, working closely with management teams on strategic initiatives, acquisitions, and operational improvements.

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This article is part of our Private equity firms | Eagle Rock CFO guide.