FY 2023 | Year in Review

We would like to take this opportunity to thank our investors, partners, and friends for an active and a successful year. During 2023, we closed 29 investments across our two investment strategies – (i) control equity and (ii) direct lending (Fund IV) – and achieved a successful exit on an existing investment (M&M Carnot), which sold to Johnson Controls.  Of the 29 investments, we closed seven new platform investments, and we were very active in supporting our portfolio companies, closing 22 follow-on / add-on acquisitions across a number of industries, including Auto Collision Repair, Tree Care, Solar, Appraisal Management, IT Services, Professional Services, Towing / Wrecker Services, and Home Storage.  Lastly, we added three new members to the team to support ongoing growth. 

Looking ahead, we are actively seeking new debt and equity investments, including add-on opportunities. Thank you all for your continued support, and best wishes for a healthy and prosperous 2024!

About Source Capital

Source Capital is a private investment firm focused on providing flexible equity and debt capital to lower middle-market companies across a range of industries. Source Capital’s investment strategy targets growing companies with greater than $2 million in EBITDA seeking a growth-oriented partner. Since its founding in 2002, Source Capital has made 29 control equity platform investments and 57 add-on acquisitions in addition to 50 debt investments through four separate credit funds. To learn more about Source Capital or to discuss a new equity or debt investment opportunity, please visit, our LinkedIn page, or reach out to a member of our investment team.

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