Quabbin Capital
Also known as Quabbin Capital, Inc.
Boston office managing a single unnamed offshore family's US assets; origins 1974. Sponsors lower-middle-market deals (EBITDA USD 2-5M), funding ~10% of equity and syndicating the rest per deal.
USEFUL FOR Fund managers raising capital · Business owners seeking a long-term partner · Co-investors
Boston investment office that manages the US assets of a single, undisclosed offshore family and sponsors lower-middle-market private equity deals on a deal-by-deal basis rather than through a committed fund. The family is not named in any source.
Family & background
- HEADQUARTERS
- Boston, United States
- FOUNDED
- 1974
Investment approach
- STAGES
- GrowthBuyout
- ROUTES
- Companies (own capital) · Funds (as LP)
- STRATEGIES
- Private equityDirect investmentsVenture capitalReal estateFunds (as LP)
- INBOUND
- Accepts submissions
Overview
Quabbin Capital traces its origins to 1974, when it began Boston-based commercial real estate activities, and describes itself as a privately-held investment management firm with over one hundred direct and fund investments across private lower-middle-market companies, venture capital, energy and real estate; in recent years it has moved to sourcing and sponsoring lower-middle-market private equity deals directly. In a July 2020 McGuireWoods interview, then-principal Charles 'Chip' Wahle said the firm was founded as a family office more than 30 years earlier and manages the US assets of a single offshore family whose wealth came from infrastructure and construction; the family typically funds about 10% of a deal's equity and Quabbin raises the balance from outside equity, mezzanine and senior-debt partners, a model he called a 'semi-funded sponsor'. It targets family- or founder-owned businesses with EBITDA of USD 2-5 million, making control and non-control equity investments. Current portfolio companies listed are Upper Crust Pizzerias and RIMCO Royalty Partners; its site lists 15 realized investments, including Chandler Signs, Applied Business Software, SAMBA Safety, Perma-Fix Environmental Services, Lift Tech International and The Lofland Company.
Investment thesis
Patient, detail-oriented investing in family- or founder-owned lower-middle-market companies with USD 2-5 million EBITDA, proprietary products or services, technology-enabled processes and growth plans including acquisitions, often as the first outside capital provider. The philosophy page cites a 3-5 year ownership exit strategy; the contact page says the hold period has no structural limits and is typically long term.
Holdings & investments (17)
- Upper Crust PizzeriasNOTABLEConsumer & E-commerce
- Applied Business SoftwareNOTABLESoftware & SaaS · since 2020 · Exited (listed as realized)
- Chandler SignsNOTABLEIndustrial & Manufacturing · Exited (listed as realized)
- RIMCO Royalty Partners
- SAMBA SafetySoftware & SaaS · Exited (listed as realized)
- Perma-Fix Environmental ServicesIndustrial & Manufacturing · Exited (listed as realized)
- Advanced Duplication ServicesMedia & Entertainment · Exited (listed as realized)
- Healthy Pet, Inc.Consumer & E-commerce · Exited (listed as realized)
- Hudson Castle GroupExited (listed as realized)
- InventusSoftware & SaaS · Exited (listed as realized)
- Library Systems & ServicesExited (listed as realized)
- Lift Tech InternationalIndustrial & Manufacturing · Exited (listed as realized)
- The Lofland CompanyIndustrial & Manufacturing · Exited (listed as realized)
- Porter GroupMobility & Logistics · Exited (listed as realized)
- RIMCO Production CompanyExited (listed as realized)
- Southwaste Services, Inc.Industrial & Manufacturing · Exited (listed as realized)
- SPC TelequipIndustrial & Manufacturing · Exited (listed as realized)
People
Frequently asked questions
Quabbin Capital is a single family office based in Boston, the United States, founded in 1974.
Quabbin Capital invests its own capital into companies and in third-party funds as an LP. Its stated asset mix includes private equity, direct investments, venture capital, real estate and funds (as lp).
Quabbin Capital invests at Growth and Buyout stages in Industrial & Manufacturing, Software & SaaS, Consumer & E-commerce and Fintech.
Key people at Quabbin Capital include Steven A. Leese (Managing Director) and John I. Snow III (Managing Director).
Quabbin Capital's holdings and investments include Upper Crust Pizzerias, Applied Business Software, Chandler Signs, RIMCO Royalty Partners, SAMBA Safety, Perma-Fix Environmental Services, Advanced Duplication Services and Healthy Pet, Inc., among others.
The most recent publicly reported investment by Quabbin Capital is Applied Business Software (The Mortgage Office) (Strategic growth investment led by Lometa Capital Partners, supported by Aldine Capital, Quabbin Capital and Byline Bank), announced in Nov 2020.
Quabbin Capital states that it accepts submissions through its official contact page.