Bow River Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Bow River Capital has acquired 6 companies. It has also invested in 4 others.

Bow River Capital’s most common sectors for investment areinternet software and services (17%) and software (17%) . The Firm’s most common investment types include recapitalization (40%) and buyout (lbo, mbo, mbi) (20%). In total, Bow River Capital has invested in 12 US states and 2 different countries.

In the last 3 years, Bow River Capital has exited 7 companies. The Firm’s most common exit type is trade sale (44%). Bow River Capital’s largest (disclosed) exit occurred in 2025 when it sold Progressive Services for $810M.

Sign-up to view Bow River Capital’s full profile and discover more large private equity firm investors just like it.

M&A Summary

  • M&A Total Activity55
    • M&A Buy Activity30
    • M&A Sell Activity25
  • Total Sectors Invested 13
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 21
  • M&A Advisors 9

Bow River Capital

Bow River Capital Partners LLC

205 Detroit St,
Denver, Colorado 80206
United States
(303) 861-8466
www.bowrivercapital.com
info@bowrivercapital.com

Bow River Capital is a private equity firm that provides equity capital and mezzanine debt to high growth companies. The Firm targets businesses generating sales of $25 and $200 million and EBITDA of $3 to $50 million. Bow River will consider investments throughout the US and Canada, however, the Firm's primary focus is on opportunities in the Rocky Mountain and Western regions of the US and Canada. Target industries include manufacturing, distribution, transportation, business and consumer services, financial services, natural resources and real estate. The Firm will consider both control and minority positions. Bow River Capital was established in 2003 and is based in Denver, Colorado.


Investment Criteria

Sectors of Interest: Aerospace, Business Services, Consumer Products, Consumer Services, Distribution, Energy Services and Equipment, Financial Services, Healthcare Services, Insurance, Manufacturing, Metals/Mining, Oil/Gas Exploration, Real Estate, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Recapitalization

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 25 200
Target EBITDA 3 50
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (2.4/yr) # 18 2 5 2 3 - 30
Sell (1.4/yr) # 18 - 2 1 2 2 25
vol $411M $810M $1.2B
  55

Most Recent M&A

Company Date Value Type
Progressive Services, Inc. 2025-07-08 810M USD Trade Sale
Phoenix, Arizona · www.progressiveroofing.us
Kivu Consulting, Inc. 2025-01-09 - Trade Sale
San Francisco, California · www.kivuconsulting.com
AbsenceSoft 2024-09-18 - Secondary Sale
Golden, Colorado · www.absencesoft.com
RippleWorx, Inc. 2024-08-20 - Recapitalization
Huntsville, Alabama · www.rippleworx.com
SH Franchising LLC 2024-03-21 - Divestiture
Towson, Maryland · www.seniorhelpers.com
Accelo, Inc. 2024-02-29 - Secondary Buyout
Denver, California · www.accelo.com
Xyleme, Inc. 2024-01-11 - Trade Sale
Denver, Colorado · www.xyleme.com
Landmark Aquatic LLC 2023-10-05 - Consolidation
Maryland Heights, Missouri · www.landmarkaquatic.com
Vitruvi Software 2023-07-19 - Buyout (LBO, MBO, MBI)
Calgary, Alberta · www.vitruvisoftware.com
CHSI Technologies Corp. 2023-02-01 - Merger
Denver, Colorado · www.insurium.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
NextEdge Networks 2020-09-02 Source Broadband Services LLC 2021-07-07 2
Alpharetta, Georgia · www.nextedgenetworks.com Roswell, Georgia · www.tach1.com

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 2 (17%) - 5 (17%) -
Software 4 (33%) - 5 (17%) -
Engineering - - 4 (13%) -
Business Services - - 3 (10%) -
Healthcare Services 2 (17%) - 3 (10%) -
Communications 1 (8%) - 2 (7%) -
Construction 1 (8%) - 2 (7%) -
Consumer Services - - 1 (3%) -
Energy Services and Equipment - - 1 (3%) -
Franchising 1 (8%) - 1 (3%) -
Information Technology - - 1 (3%) -
Manufacturing - - 1 (3%) -
Marketing 1 (8%) - 1 (3%) -
Total 12 - 30 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 11 (92%) - 27 (90%) -
  Colorado 1 (8%) - 7 (23%) -
  California 2 (17%) - 4 (13%) -
  Texas 2 (17%) - 3 (10%) -
  Arizona - - 3 (10%) -
  Florida 1 (8%) - 2 (7%) -
  Missouri 1 (8%) - 2 (7%) -
  Alabama 1 (8%) - 1 (3%) -
  Utah 1 (8%) - 1 (3%) -
  Maryland 1 (8%) - 1 (3%) -
  Georgia 1 (8%) - 1 (3%) -
  Washington - - 1 (3%) -
  Illinois - - 1 (3%) -
Canada 1 (8%) - 3 (10%) -
  Alberta 1 (8%) - 2 (7%) -
  British Columbia - - 1 (3%) -
Domestic 11 (92%) - 27 (90%) -
Cross-border 1 (8%) - 3 (10%) -
Total 12 - 30 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Recapitalization 3 (25%) - 12 (40%) -
Buyout (LBO, MBO, MBI) 2 (17%) - 6 (20%) -
Growth Capital 4 (33%) - 5 (17%) -
Consolidation 1 (8%) - 2 (7%) -
Divestiture 1 (8%) - 2 (7%) -
Secondary Buyout 1 (8%) - 2 (7%) -
PIPE - - 1 (3%) -
Total 12 - 30 -

Exits by Deal Type

Type Total # Value
Trade Sale 9 (36%) -
Secondary Sale 6 (24%) -
Trade Sale - Public Company 4 (16%) 1.2B (100%)
Merger 3 (12%) -
IPO 2 (8%) -
Recapitalization 1 (4%) -
Total 25 $1.2B

Top M&A Advisors

Financial Deals
FMI Capital Advisors
1
Guggenheim Securities
1
CBIZ Private Equity Advisory
1
Legal Deals
Brownstein
5
Morrison & Foerster
3
Holland & Hart
3

Deal Values

sell # Total
$100M to $1B 2 $1.2B
< $100M 1 $45M
TOTAL $1.2B
Largest Progressive Services, Inc.
$810M (2025-07-08)

M&A Connections

Deals
Acquired from
Investor(s)
7%
2 (7%)
Strategic(s)
7%
2 (7%)
Exited to
Investor(s)
28%
7 (28%)
Strategic(s)
56%
14 (56%)

FAQ

When was Bow River Capital founded?

Bow River Capital was founded in 2003.

What type of investor is Bow River Capital?

Bow River Capital is a private equity firm.

Where is Bow River Capital headquartered?

Bow River Capital is headquartered in Denver, Colorado.

How much capital does Bow River Capital have under management?

Bow River Capital has 4.4B USD under management.

Try Mergr Free — See This and 215,318+
Other Company and Investor Profiles Today

Try free. Full access. Cancel anytime.

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More

What's Mergr?

Mergr is a user-friendly database designed to simplify the complex world of private equity and M&A for busy professionals.

We created Mergr to eliminate the challenge of tracking company acquisitions, sales, and ownership, providing clear insights into investment firms and their activities. For example, explore an investment firm’s investment criteria, deal history, portfolio, and connections - organized to help you uncover opportunities and make informed decisions.

With Mergr, gain access to a comprehensive, interconnected web of transactions, investors, companies, and advisors - all in one place.

Mergr, the Easiest-to-Use PE and M&A DB


Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.7K Private Equity Firms
  • 209K M&A Transactions
  • 211K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.7K M&A Advisors
    (Investment Banks and Law Firms)
  • 81K M&A Contacts
    (PE and M&A Advisors)

What next?

Try Free

Full access to Mergr's investor, acquirer, and transaction data starts here.