01About 02Our Approach 03Team 04Criteria 05Prior Investments 06Case Study 07Contact Us Investor Portal
Private Investing · Salt Lake City

We partner with owners
to build category leaders.

14V Capital partners with families, founders, and managers in fragmented North American service markets. We align long-term incentives through generous equity packages for owners and the key people around them, so everyone who builds the business shares in what it becomes.

01 About

We're experts at scaling service businesses.

For the last decade, the principals at 14V have made more than 85 investments in U.S.-based service companies while rapidly scaling nearly a dozen high-performing platforms.

With wide-ranging experience across multiple service categories — including automotive tire and repair, collision centers, environmental and waste services, garage door installation and repair, HVAC and plumbing services, medical aesthetic and longevity services, roofing installation and repair, and veterinary service centers, among others — we believe we are some of the most experienced services-focused investors in the market. We have successfully utilized multiple different structures and growth strategies throughout our history, and our latest one-of-a-kind structures and strategies are reflective of many lessons learned.

While we have Wall Street investment experience and the highest level of training at Ivy League institutions, we are down-to-earth guys from Utah and Idaho with big families and a set of core values that differ from those of the typical investor you might meet. We grew up in middle class families and each experienced significant opposition and understand what it means to struggle. We are good people — not “sharks.” We operate on principles of trust, integrity, grit, accountability, and stewardship. We are easy to work with, understanding, gentle, patient, and know how to have fun. But we are also ambitious and are as competitive as anyone you will ever meet. If you share these values, and want to build and grow, we promise we are the right partners for you.

Investment Highlights
24
Years of combined experience
85
Investments made
$1.5B
Capital deployed
20
Industries invested in
02 Our Approach

Long-term partners you can trust.
When you win, we win.

We are a founder-friendly firm. The people already running the business are the ones best placed to grow it, and our job is to resource them rather than replace them.

That belief shapes how we structure every deal. We work with owners and CEOs to design ownership packages for the key people around them, so the managers, technicians, and operators who create the value get to participate in it. It is a different starting point from most firms, and it produces a different business by the end.

Four things define how we operate: a priority on supporting founders and helping them achieve their goals, true partnership with the people who built the company, a long-term view of what we are building, and equity alignment that goes well beyond the market standard.

Investment Philosophy

The four pillars.

Your culture, principles, and values stay.
We just help you scale and enhance it.

You built this. You know the trade, the customers, the crews, and the thousand small judgments that make the work good. None of that transfers to us at close, and we have no interest in pretending otherwise. Our job is to keep you doing what you are excellent at and to carry everything you built into something larger.

The values behind the business stay. The culture on the floor stays. The standards you spent years setting stay. Names and logos may evolve as the platform takes shape — the character of what you built does not. What changes is reach — the capital to open markets you could not fund alone, the M&A engine to acquire the businesses you have watched for years, and the corporate bench to absorb the work that has been keeping you at the office until seven.

The people who got you here go further too. Loyal, committed employees get real equity, larger roles, and visibility they would never have had in a single-market business. Your best manager becomes a regional leader. Your best technician becomes the person who trains four states. That is the promise we make to the team you spent decades assembling.

And the impact widens. A founder who partners with us is not just growing a company — they are shaping the platform we build together and, in most of our categories, setting the standard the rest of the industry ends up following.

Shoulder to shoulder.
Not over your shoulder.

Cultural fit and economic alignment are core to how we invest. We work alongside our partners to reach outcomes neither party could reach on its own.

We intentionally do not station operating partners inside your business. You keep running the company you built. We bring the capital, the M&A engine, the strategic bench, and the analytical horsepower — and we show up consistently.

That said, we roll up our sleeves. If there is work we can take off your plate, we take it. The point is not a division of labor — it is combining what each side does best to build one elite team. You are excellent at your industry, your customers, and your operations. We are excellent at private equity, M&A, capital structure, and financial rigor. Neither skill set builds a category leader alone.

We will work tirelessly to build the platform and position it for the best possible outcome for everyone with something at stake — employees, owners, and investors alike.

Built to outlast us.
Not to outrun a clock.

Most investment firms operate on a countdown. Capital projects that pay back after the expected sale never get funded. Systems that take three years to mature never get started. Incentive plans get written for the people who will be there at exit, not the ones who will be there a decade later. The result is a business optimized for a transaction rather than for its own future.

We make decisions as though the company will outlive our ownership, because it will. We fund the equipment, the systems, the training, and the leadership hires on the timeline the business actually needs, not the one our hold period would prefer. When we underwrite an investment, we underwrite it on whether it makes the company better, not on whether it lands inside a window.

This is not patience for its own sake. Businesses built this way compound faster and sell for more, precisely because a buyer can see the difference between a company that was run well and one that was dressed up.

Creating far-above-standard equity incentives for owners and their employees.

We know we offer above-market equity compensation to our best employees. We do it anyway, because we believe deeply that these investments in our people deliver the highest return available to us. Alignment with the people who actually run the business produces less turnover, longer tenure, and a higher level of commitment — and those show up in the numbers as less waste, better training and development, greater sales production, and efficiency gains that flow straight to margin.

The compounding effect matters just as much. Real equity makes us the employer of choice in our markets, which improves the quality of everyone we recruit from that point forward. And when it comes time to sell, the market pays a premium for a business with a sustainable, repeatable model and predictable go-forward performance — which is exactly what an aligned, long-tenured team produces.

Motivated, ambitious, and committed leaders in our businesses have a path into leadership and the opportunity to earn up to 20% profits interests in the expansion locations they help build. We would rather own a smaller share of something excellent than all of something ordinary.

The multi-year build

What partnership looks like, year by year.

Year 1

Stabilize & accelerate

  • Install systems and hire critical leadership
  • Establish the multi-year strategy together
  • Rapidly explore key partnerships and create momentum
Years 2–3

Scale & refine

  • Four to eight add-ons and 10%+ organic growth
  • Consolidate systems and accounting
  • Implement best practices and enhance margins
Years 4 & Beyond

Prepare & final push

  • $25M+ EBITDA and a strengthened brand
  • Ramp sales, M&A, and marketing
  • Strategize the exit with advisors
03 Team

Experienced partners backed by a full bench.

Our collective team of investment partners, operators, and advisors brings real depth to the people we back — knowledge, experience, and tools that a founder rarely has access to alone.

We have worked on Wall Street and on Main Street. We have scaled billion-dollar businesses and small ones, as investors and as founders, which means we understand the position an owner is actually in — the risk, the pressure, and the weight of the decision. We are here to help and to support you.

14V Team
The deal team has nearly 25 years of experience advising and partnering with business owners across more than 20 industries. We are experts at helping owners set a strategic vision and then execute against it — through creative legal and tax structures, incentive plans, and capital solutions. We have completed 85 transactions, and we will be your M&A engine so you can focus on running the business.
14V Advisors
Our advisors invest alongside us and work with us on M&A, thesis development, strategy, and board reviews. They are founders and operators with expertise across the industries we target, and a deep network we draw on to create value at every investment.
14V Investors
Pacenote Capital is committed to backing us as we build category leaders and premier platforms across service industries. Pacenote has raised $3.2 billion since 2019 and maintains more than 100 institutional LP relationships from offices in New York, Austin, Charlotte, and Los Angeles. They are exceptionally well connected and offer a level of support that is difficult to find anywhere else.
pacenotecapital.com
04 Criteria

The 14V deal box.

A clearly defined strike zone. Every platform we underwrite fits these characteristics — we deviate only when an exceptional opportunity warrants it.

Industry
Business services, consumer services, environmental services, and professional services
Business profile
Healthy businesses performing below full potential — no turnarounds. Strong tailwinds with GDP+ growth, fragmentation supporting M&A, and 15%+ EBITDA margins or a clear path to 15%
Business model
Recurring, non-discretionary, or stable service revenue, with optional components offering upside
Size
$2–15 million of EBITDA for anchor acquisitions · any size for add-ons
Ownership
Management alignment through meaningful equity roll, plus additional incentives for key employees
Strategy
Majority buyout, or minority investment with control
Geography
North America

The least quantifiable criterion matters most. We are looking for partners who match us on culture, integrity, grit, risk tolerance, and drive. Align there first, and the rest follows.

05 Prior Investments

Services-based investment experience.

Eleven platforms built across a variety of service categories. Hover or tap any investment to see the work behind it.

Select investments led or executed by 14V's principals over the course of their careers, including transactions completed at predecessor firms. Company names and deal economics are withheld where confidentiality obligations apply. Shown to illustrate sector experience, not as a representation of 14V's own performance record.

06 Case Study

One platform, start to finish.

Residential services · 2.8-year hold

One market to a 25-brand national platform.

A Plus Garage DoorsGuild Garage Group

We saw that thinning M&A pipelines in HVAC and plumbing would drive demand into adjacent home services. Garage door services was almost entirely unconsolidated — one other scaled sponsor-backed platform, a $7 billion US market, thousands of independent operators, recurring repair-driven cash flow, and add-on multiples under 6x. We moved early and became the acquirer of choice.

Entry EBITDA
$7M
Exit EBITDA
$45M
18.1xExit multiple
3.0xGross MOIC
66%Gross IRR

The build

A Plus Garage Doors anchored the platform and merged with Guild Garage Group one year in, creating a seven-brand base to build from. From there: land and expand — anchor acquisitions in major markets, then tuck-ins across surrounding areas. We aligned sellers on integration before closing — every brand moved to ServiceTitan, Sage, and ADP. We held a pure-play residential mix under 10% new construction, consolidated purchasing for 10–15% savings, and rolled out a centralized price book with incentive-based technician comp that drove 17% organic growth during the hold.

The outcome

25 brands acquired. 38 corporate personnel hired. A Center of Excellence established in Salt Lake City for training and best-practice sharing. Revenue scaled from $35 million in a single market to over $200 million nationally, and the platform traded to a large private equity sponsor at 18.1x in under three years.

07 Contact Us

If you are building something bigger, let's talk.

Whether you are ready to transact or simply want to understand what a partnership could look like in five years, we are glad to have the conversation — confidentially, and with no obligation.

14V Capital
Salt Lake City, Utah
blake@14vcap.com kyle@14vcap.com LinkedIn www.14vcap.com 14V