LongWater Opportunities

LongWater is an alternative asset management firm focused on the lower middle market, with roughly $1 billion in regulatory assets under management. It is headquartered in Fargo, North Dakota, with offices in Dallas, St. Louis, and Boston. Its private equity team makes control investments in North American industrial businesses, including industrial services, power, value-added distribution, building products, transportation, infrastructure, specialty manufacturing, and agriculture-adjacent companies. It targets founder- and family-owned companies with $4 million or more in EBITDA, with a focus on the American Heartland. Its capital solutions team offers private credit, minority equity, and LP fund commitments. In June 2026, LongWater closed its inaugural SBIC fund above its $262.5 million target. In September 2026, it launched a national industrial coatings platform with a majority investment in Blastco. The firm looks for strong leadership, a values-driven culture, recurring revenue, differentiated products or services, and significant growth potential. Its team of former industrial CEOs works with management on growth plans and scalable infrastructure.