DISCIPLINED EXECUTION AND STRATEGIC FOCUS

As we close the chapter on 2025 and begin 2026, we’re excited to look back on what has been an incredible year of honing our discipline and inward focus and take a moment to appreciate everything this year has brought for our firm. 

Even with a challenging market backdrop, we stayed intentional and committed to our investment approach — working collaboratively with our partners to support long-term growth and build enduring value. In 2025, we sought to bring disciplined decision-making and operational support where it matters most, navigating the year side-by-side with resilience and genuine partnership. 

As we shift our focus to 2026, we’re incredibly grateful to our team, portfolio management teams, investors and partners. We couldn’t do it without you – thank you for everything you do!

1 NEW PLATFORM



8 ADD-ONS



4 NEW HIRES

1 PROMOTION

2025 PORTFOLIO HIGHLIGHTS

In 2025, we invested in a new platform company and expanded our current portfolio. See below for highlights:

Kian Capital’s Team Air Accelerates Expansion, Wins Pinnacle Performance Award for Eighth Time

Team Air Distributing expanded its landmark presence across key Georgia and Tennessee markets, and received its eighth Pinnacle Performance Award provided by Trane Technologies.

Kian-Backed SPATCO Energy Solutions Continues National Expansion with Acquisition of Excell Fueling Systems

The acquisition added commercial services to SPATCO’s Texas portfolio and rounded out the platform’s comprehensive suite of services in the state.

Kian-Backed Diamond Landscaping Expands Geographic Footprint with Two Strategic Acquisitions

The acquisitions bring two high-end operators to the platform and expand operations into Arizona and Connecticut.

Kian Capital Makes Strategic Investment in Perimeter Holdings USA, a Leading Provider of Gate, Fence and Access Control Services

Kian partnered with two private investment firms, Bochi Investments and Skyline Global Partners, to combine the two leading regional operators, Salem Westchester LLC and Riverside Fence Company, to create Perimeter Holdings USA.

Kian-Backed PARC Auto Continues Expansion Within the Meineke Franchise System

Kian continued to drive growth across the PARC Auto platform in 2025, acquiring five existing stores and opening three new locations.

FIRM HIGHLIGHTS

As our firm continues to evolve, we are proud to have welcomed four new professionals and celebrated one promotion at Kian in 2025. Our team members’ experience and energy strengthen our commitment to the portfolio companies we support and the managers we work with.

INVESTMENT CRITERIA

Our team has closed on over 70 platform and add-on deals since our founding. We deploy flexible and creative capital that aligns with our philosophy of creating relationships where everyone wins. With a focus on lower middle-market opportunities, we think in terms of what is right for each situation and can offer equity and mezzanine debt in structures that offer innovative solutions to each company with which we partner.

$10-100M

in REVENUE

$3-15M

in EBITDA

$15-40M

INVESTMENT SIZE

Flexible Approach

We invest both debt and equity in every deal and have the flexibility to be either a majority or minority owner

Transformational Capital

We want to be the first institutional partner for founder/owner operated businesses

Transaction Types

Includes buyouts, recapitalizations and growth financings

Learn More About Kian's Investment Profile

DOWNLOAD FACTSHEET

or contact David Duke, Partner, Business Development, at
dduke@kiancapital.com

Inc.’s Founder-Friendly Investor list comprises firms identified by Inc.‘s editors or submitted to Inc. through an application process. Kian Capital (“Kian”) applied to be considered. Inc. gathers data on how the firms’ portfolio companies have grown and interviews founders about their experiences with the firms to establish the annual list. The list recognizes firms with a track record of backing entrepreneurs by providing the financial support needed to help businesses accelerate growth while remaining actively involved following the firm’s investment. The recognition reflects Inc.’s assessment of founder support and investment activity over a five-year look-back period beginning January 1, 2020, and ending at the 2025 application cutoff date of June 20, 2025. Kian paid for both the fee to participate and to acquire rights to the Inc. logo for the years 2020–2025. The Inc. Founder Friendly list was officially announced on October 28, 2025.

The award referenced herein was issued by Trane Technologies to American Standard partners and is based on high performance in crucial operating metrics. Team Air Distributing did not pay to be considered for this award. The firm did not pay a fee to Trane Technologies for licensing the award logo, marketing materials, publication rights, etc. after the award was granted.

Third-party awards and ratings are not indicative of the future performance of Kian Capital and should not be construed as a guarantee that any client will experience a certain level of results or satisfaction. The rating or award may not be representative of any one client’s experience.

This article does not constitute an offer to sell or the solicitation of an offer to purchase any investments or securities, including any securities of Kian Capital (“Kian”), or any funds or accounts managed or advised by Kian in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation.

Any such offer or solicitation may be made only by means of the delivery of a confidential private offering memorandum (the“Memorandum”), which will contain material information not included herein regarding, among other things, information with respect to risks and potential conflicts of interest, and other offering and governance documents of any given fund or account (collectively with the Memorandum, the “Fund Documents”).