Balmoral Funds

Balmoral Funds LLC is a private equity firm based in Los Angeles, California, founded in 2005. The firm focuses on investing in small to middle-market companies across North America, targeting sectors such as business services, consumer products, industrial, supply chain, logistics, aerospace, and defense. Balmoral Funds engages in recapitalizations, special situations, and acquisitions, with investment sizes typically ranging from $4 million to $12 million. The firm operates multiple growth expansion funds to facilitate its investment strategy.

Clay Baker

Senior Associate

Curtis Godin

Vice President

Travis Haynes

Managing Director

Richard Levernier

Principal

Luke Mau

CFO

Robin Nourmand

Managing Director and Investment Committee Member

David Shainberg

Managing Director

Holden Thomas

Associate

Jonathan Victor

Founder and Managing Partner, Chairs of Investment Committee

8 past transactions

Epsilyte

Venture Round in 2020
Epsilyte LLC is a manufacturer of expandable polystyrene resins based in Peru, Illinois. Established in 2020, the company produces advanced materials that cater to various industries, including construction, packaging, and safety equipment. Epsilyte's products are designed to enhance energy efficiency in buildings, ensure the safety and quality of food through innovative packaging, and provide high-impact protection in safety gear such as helmets. The company also focuses on safeguarding perishable shipments, including sensitive items like vaccines, while meeting the demand for efficient and highly insulative materials. Epsilyte was formerly a subsidiary of Flint Hills Resources, LLC.

KP Aviation

Private Equity Round in 2019
KP Aviation, Inc. supplies commercial jet engine and aircraft components to aviation marketplaces, such as airlines, maintenance, repair, and overhaul (MRO), investment and leasing companies, and aviation aftermarket suppliers. It offers engine and aircraft component sales, component exchange solutions, aviation components consignment, salvage materials solutions, AOG service; engine sales and sales services; and aircraft sales and leasing services. The company was founded in 2001 and is headquartered in Reno, Nevada.

Vesta Modular

Private Equity Round in 2018
Vesta Modular specializes in providing both temporary and permanent modular building solutions across various sectors, including construction, commercial, education, government, healthcare, and manufacturing. The company operates through two main divisions: modular space leasing and modular project installation. In its leasing division, Vesta offers units from a fleet of over 6,000, catering to immediate space needs. Meanwhile, the project installation division focuses on the design, construction, and installation of modular spaces, delivering efficient, turnkey solutions that range from basic office setups to complex multi-story developments. With a strong management team experienced in the modular building process, Vesta Modular aims to redefine building practices by promoting greener, faster, and smarter construction methods.

MOOYAH

Acquisition in 2017
Mooyah Franchising, LLC operates a chain of restaurants. It offers burgers, fries, shakes, and drinks. The company franchises its business. Mooyah Franchising, LLC is based in Dallas, Texas. It has locations in California, Connecticut, Tennessee, and Texas.

Enesco

Acquisition in 2015
Enesco, LLC is a prominent provider in the giftware and home and garden décor industries. The company designs, manufactures, markets, and distributes a wide range of products, including contemporary gifts, home accessories, jewelry, and personalized merchandise. Enesco serves a diverse customer base that includes large department stores, mass market channels, online retailers, home décor boutiques, and specialty card and gift retailers. With a focus on helping customers celebrate various occasions and recipients, Enesco has established itself as a leader in the global market.

iGPS

Acquisition in 2013
iGPS Logistics LLC, founded in 2006 and based in Orlando, Florida, specializes in the rental of plastic pallets equipped with radio frequency identification (RFID) tracking technology. The company focuses on providing innovative shipping solutions that enhance supply chain efficiency and sustainability. Its RFID-tagged plastic pallets enable larger load patterns and are particularly suited for automated environments, helping clients reduce transport and production costs. iGPS’s offerings not only aim to improve employee safety and minimize product damage but also contribute to lower carbon emissions through the use of recyclable materials. By positioning itself as a leader in intelligent shipping platforms, iGPS strives to deliver significant value to its customers and stakeholders in the logistics industry.
Concurrent Manufacturing Solutions, LLC, founded in 2006 and based in Doral, Florida, specializes in electronic contract manufacturing services for original equipment manufacturers. As a subsidiary of Cypress Holdings, Inc., the company has built strong relationships with its clients, including Fortune 500 companies, over two decades. Concurrent Manufacturing Solutions offers a comprehensive range of services, such as cable assembly, printed circuit board assembly (PCBA), electro-mechanical assemblies, enclosure fabrication, and complete box build solutions. The company focuses on low-to-medium volume production of complex electro-mechanical products for various industries, including telecommunications, industrial, energy, defense, and aerospace. With a commitment to quality and customer collaboration, Concurrent Manufacturing Solutions aims to provide integrated solutions that reduce total landed costs while supporting clients from initial prototype production through end-of-life support.

Bennington Marine

Acquisition in 2009
Bennington Marine is a manufacturer of luxury pontoon boats based in Elkhart, Indiana. Established 15 years ago, the company specializes in creating family-friendly performance boats, known for their fit, finish, comfort, and aesthetic appeal. Bennington Marine holds a dominant position in the middle- to high-end segments of the pontoon market, providing a range of boating experiences tailored for fishing and recreational enthusiasts. In addition to its flagship brand, Bennington, the company also produces boats under the Godfrey Pontoon Boats, Hurricane, and Rinker brands, serving customers across the United States and Canada.
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