Why We Focus on Private Markets
Public markets offer liquidity. Private markets offer control, value creation, and real alignment. INDY Capital Partners invests exclusively in the lower-middle market — profitable, private companies in Canada and the United States — where disciplined operators can create the most durable value.
ASSET MANAGEMENT FEE
PREFERRED RETURN HURDLE
INDY INVESTS ITS OWN CAPITAL ALONGSIDE INVESTORS IN EVERY DEAL
Our Model
Every step is disciplined. Every decision is aligned.
Target
Profitable, growing private companies with demonstrated earnings.
Acquire
Enter at 4–6x EBITDA. Disciplined entry valuations.
Leverage
Apply modest leverage where appropriate. Enhance returns without compromising the business.
Exit
Sell at 8–10x EBITDA. Multiple expansion through growth.
Protect
Downside protection. Meaningful upside participation.
Control & Influence
Governance and capital structure control.
Lower Entry Valuations
4–6x EBITDA vs. 15–20x+ public.
Earnings Arbitrage
Multiple expansion through growth.
Leverage Enhancement
Company cash flow funds debt.
Limited Liquidity
Not suitable for all investors.
Management Dependence
Reliance on key teams.
Economic Sensitivity
Sensitivity to cycles.
“Private markets offer structural advantages public investing cannot match. Entry valuations of 4 to 6 times EBITDA versus 15 to 20 times or more for public companies. Control over governance and capital structure. The ability to build real value, not just wait for it." — Steve Meehan
RISK MANAGEMENT
How we manage risk
Buy Right
4-6x EBITDA entry = built-in margin of safety. Even without growth, healthy returns.
Partner Strong
Invest in proven management teams. People over products.
Add Value
Operational expertise, not just capital. Work ON the business, not IN it.
PARTNERSHIP
INDY Capital Partners provides flexible capital solutions tailored to where a business is in its lifecycle. We are not just a buyer. We are a long-term partner.
Growth Capital
For profitable companies ready to scale who want a disciplined capital partner alongside them.
Partial Monetization
For owners who want liquidity without a full exit. Realize value while remaining involved in the business.
Succession Planning
For business owners navigating a transition or exit. Preserve what they have built while finding the right path forward.
The Investment Thesis page is a starting point. If you have been introduced to INDY Capital Partners and want to learn more, we welcome the conversation.
This website is for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any securities, nor shall it form the basis of, or be relied on in connection with, any contract, commitment, or investment decision. Any offer or sale of securities by INDY Capital Partners will be made only to accredited investors and only through formal offering documents specific to that securities offering. Prospective investors must not make any investment decision on the basis of information contained on this website. Investment decisions must be made solely on the basis of the offering documents relating to that particular securities offering, after review with appropriate legal, tax, and financial advisors Past performance is not indicative of future results. Historical returns referenced on this website reflect investments led by Steve Meehan and management teams prior to and including INDY Capital Partners, and are presented for illustrative purposes only. No representation is made that any investor will achieve, results comparable to those shown. Participation in INDY Capital Partners' funds is limited to accrdited investors as defined under applicable securities legislation. The information on this website is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to local law or regulation.
This website is for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any securities, nor shall it form the basis of, or be relied on in connection with, any contract, commitment, or investment decision. Any offer or sale of securities by INDY Capital Partners will be made only to accredited investors and only through formal offering documents specific to that securities offering. Prospective investors must not make any investment decision on the basis of information contained on this website. Investment decisions must be made solely on the basis of the offering documents relating to that particular securities offering, after review with appropriate legal, tax, and financial advisors Past performance is not indicative of future results. Historical returns referenced on this website reflect investments led by Steve Meehan and management teams prior to and including INDY Capital Partners, and are presented for illustrative purposes only. No representation is made that any investor will achieve, results comparable to those shown. Participation in INDY Capital Partners' funds is limited to accrdited investors as defined under applicable securities legislation. The information on this website is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to local law or regulation.