Investment Summary

Mangrove Equity Partners Exits Vintage Air

On October 16, 2025, private equity firm LFM Capital invested in automotive company Vintage Air from Mangrove Equity Partners

Investment Highlights
  • This is LFM Capital’s 3rd transaction in the Automotive sector.
  • This is LFM Capital’s 21st transaction in the United States.
  • This is LFM Capital’s 2nd transaction in Texas.

Investment Summary

Date 2025-10-16
Target Vintage Air
Sector Automotive
Investor(s) LFM Capital
Sellers(s) Mangrove Equity Partners
Deal Type Secondary Buyout
Advisor(s) Prestwick Partners (Financial)

Target

Vintage Air

San Antonio, Texas, United States
Vintage Air is a specialty manufacturer of performance aftermarket air conditioning systems for classic and late-model cars and trucks. Vintage Air was founded in 1976 and is based in San Antonio, Texas.

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Investor(S) 1

Investor

LFM Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2014
PE ASSETS 110M USD
Size Small
Type Sector Agnostic
DESCRIPTION

LFM Capital is a private equity investor focused on acquiring North American manufacturing and industrial services businesses. The Firm looks to invest in lower middle-market companies generating sales of $10 to $150 million and EBITDA between $3 and $15 million. LFM Capital was founded in 2014 and headquartered in Nashville, Tennessee.


DEAL STATS #
Overall 21 of 21
Sector: Automotive M&A 3 of 3
Type: Secondary Buyout M&A Deals 2 of 2
State: Texas M&A 2 of 2
Country: United States M&A 21 of 21
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-02 Accelevation

Miamisburg, Ohio, United States

Accelevation is a vertically integrated group of manufacturing companies serving the data center, electric vehicle, and robotic markets. Its primary product line includes hot-aisle and cold-aisle containment solutions for leading data center builders and operators. Accelevation was founded in 2018 and is based in Miamisburg, Ohio.

Sell -

Seller(S) 1

SELLER

Mangrove Equity Partners

Tampa, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Mangrove Equity Partners is a lower-middle market private equity firm focused on investing in North American businesses valued from $15 to $75 million. Mangrove generally targets companies operating in basic industries with defensible market positions and solid growth prospects. Sectors of interest include services, manufacturing, and value-added distribution. Prospective businesses typically have revenues up to $100 million and are profitable with at least $2 million of cash-flow. Target transaction types include management buyouts/buy-ins, recapitalizations, industry, consolidations, family successions, and select turnarounds. Mangrove Equity Partners is based in Tampa, Florida.


DEAL STATS #
Overall 15 of 15
Sector: Automotive M&A 3 of 3
Type: Secondary Buyout M&A Deals 2 of 2
State: Texas M&A 3 of 3
Country: United States M&A 14 of 14
Year: 2025 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-06 Seaside Waste Services

Hammonton, New Jersey, United States

Seaside Waste Services is a provider of non-hazardous solid waste and recycling collection throughout central and southern New Jersey. Seaside services over 2,000 commercial customers and over a dozen municipalities. The company also offers dumpster rentals and roll-away services to both commercial and residential customers. Seaside Waste Services was founded in 1971 and is based in Hammonton, New Jersey.

Sell -