- CCMP Growth Advisors closed its first fund since 2022, CCMP IV, at just over $500 million, topping its target with support from legacy CCMP Capital backers and insiders.
- The buyout fund targets control deals in North American middle-market consumer and industrial businesses growing 10%+ organically with $15 million–$75 million of EBITDA.
- CCMP IV has invested in four initial platforms (Mammoth, Omnia Exterior Solutions, Decks & Docks, Innovative Refrigeration) that collectively grew about 16% in revenue and 21% in EBITDA in 2023.
- The strategy emphasizes platform build-and-buy rollups in fragmented services and distribution sectors, backed by expanding internal leadership and dealmaking capacity.
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CCMP Growth Advisors’ fundraising success—closing CCMP IV at just north of $500 million despite a challenging private equity environment—signals strong confidence among institutional and legacy investors in the rebranded firm’s strategy. Notably, the involvement of former CCMP Capital limited partners and retired leadership in this fund suggests strong continuity and alignment with past performance.
The firm’s investment strategy is somewhat hybrid: while CCMP IV is labeled “growth-oriented,” its practice of taking control positions in lower-middle market companies growing organically at 10% annually, supplemented with tuck-in acquisitions, differentiates it from typical minority growth equity players. This control orientation allows deeper operational engagement but also brings increased execution risk.
The initial portfolio affirms the strategy’s thematic focus. For example, Omnia Exterior Solutions consolidates roofing and exteriors contractors; Decks & Docks scales via adding distribution outlets and e-commerce; Airo Mechanical (acquired later) expands HVAC/plumbing services geographically. This shows a preference for fragmented industries with recurring revenue, strong founder/owner-operator dynamics, and potential for platform building.[0news12]
Operational metrics are solid. The platforms in CCMP IV posted ~16% revenue growth and ~21% EBITDA growth in 2023, indicating management’s ability to scale both top-line and profitability. Fund-level alignment is reflected in >10% of the fund coming from CCMP employees, advisors, and former partners. Legal, placement, and advisory partners (CrossBay, Spartan Advisors, Ropes & Gray) provide credibility and execution support.
Challenges and open questions remain. Given the lower‐middle market focus, exit pathways may be limited or require longer hold periods, especially for control investments that need operational improvement. Debt financing could be more expensive than it was historically in these segments. Also, macroeconomic headwinds—labor costs, supply chain, inflation—may pressure margins. CCMP’s ability to recruit, integrate, and manage add-ons will be tested. Finally, while initial sectors are compelling, concentration risk (e.g., in consumer/distribution/service industries) may expose the portfolio to demand cycles.
Strategically, CCMP Growth is positioning itself for transforming fragmented markets via platform rollups, founder and family-owned business transitions, and leveraging its legacy relationships to source deals and LP capital. The recent acquisition of Combined Caterers in the Southeast adds geographic and sectoral diversity towards experiential and B2C services. Promotion of internal professionals into key governance roles (e.g. Investment Committee) suggests scaling internal capabilities to support growing portfolio work.
Supporting Notes
- CCMP IV closed in excess of $500 million in capital commitments, surpassing its fundraising goal for its first fund since forming in 2022.
- The fund targets middle-market consumer and industrial companies in North America, often partnering with family-owners and entrepreneurs.
- Thresholds for investment include >10% annual organic growth and EBITDA between $15 million and $75 million.
- Four platform companies in the initial portfolio: Mammoth Holdings (car washes), Omnia Exterior Solutions (roofing/platform exteriors), Decks & Docks (outdoor building/distribution), and Innovative Refrigeration (industrial refrigeration services).
- Collectively, these four achieved ~16% revenue growth and ~21% EBITDA growth in 2023.
- Fund-level alignment: over 10% of CCMP IV commitments came from its employees, executive advisors, and former partners.
- Recent deal: acquisition of Airo Mechanical to expand in HVAC/plumbing installation services, with management continuing on and new executive advisory support (Pete Papagiannis).
- Latest acquisition: Combined Caterers, a multi-city catering/event management platform in Southeast U.S., where CCMP Growth acquired from Falfurrias Capital Partners.
- Firm promotions: as of Jan 1, 2026, CCMP Growth appointed Patrick McGrath to its Investment Committee and promoted four individuals across seniority.