Tulcan

Tulcan, L.P. is a private equity firm based in Houston, Texas, specializing in growth equity, early-stage, and buyout investments in lower middle market companies. Founded in 2005, Tulcan focuses on sectors such as process equipment manufacturing, heavy equipment, machining and metal fabrication, distribution, food processing, and chemical manufacturing, while explicitly avoiding investments in oil and gas. The firm typically targets private companies with acquisition values ranging from $10 million to $50 million and prefers those with annual revenues between $15 million and $75 million and EBITDA of $5 million to $15 million. Tulcan generally invests between $2 million and $10 million in each portfolio company and may also engage in co-investments. The firm seeks to secure board seats on its portfolio companies to foster close working relationships with management teams.