PLEXUS CAPITAL

Thesis

Plexus Capital is a growth-focused private equity firm specializing in flexible debt and equity capital solutions for lower-middle-market companies in the United States. Founded in 2005 and headquartered in Raleigh, North Carolina, the firm typically invests in companies with annual revenues between $10 million and $100 million and pre-tax earnings (EBITDA) between $2 million and $15 million. Their investment strategy involves partnering with independent sponsors, search funds, private equity groups, and management teams to facilitate growth through recapitalizations, growth capital investments, control buyouts, and management buyouts. Plexus Capital invests across a diverse range of sectors including industrials, healthcare, technology, consumer, energy, financial services, business services, retail, tech-enabled healthcare, niche manufacturing, and value-added distribution. As of March 31, 2025, the firm had approximately $1.8 billion in Assets Under Management (AUM) across seven funds. In October 2025, they closed Fund VII ($977 million) and Equity Fund II ($345 million), totaling over $1.3 billion. Since inception, Plexus Capital has raised and deployed over $3.5 billion across more than 200 companies. For their structured capital strategy (Fund VII), initial checks are typically $5 million to $25 million, scaling up to $50 million or more. For their buyout strategy (Equity Fund II), they generally invest $15 million to $40 million in equity per investment.

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