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Addison Capital Partners
Brian Miller founded ACP in 2005 as an RIA that acquires smaller middle-market manufacturers outright, using its own permanent-hold capital.
Addison Capital Partners
Addison Capital Partners was established in 2005 by Brian Miller, who had previously served as CFO of a private-equity-backed distribution and merchandising company and helped guide it through a period of over 100% compounded annual revenue and EBITDA growth before a sale and recapitalization in 2004. That operating experience defines the firm's mandate: ACP seeks out smaller middle-market companies — often closely held or family-owned — where a hands-on steward can provide liquidity and preserve what the prior owners built. The firm is structured as a fee-only Registered Investment Advisor based in West Palm Beach, not a traditional fund, and does not disclose corpus size or deployment totals. ACP acquires companies outright and takes board-level responsibility for strategy and operations. The portfolio, as disclosed by the firm, is concentrated in design-build manufacturing and RF engineering. Its flagship holding is Communication Power Companies (CPC), a vertically integrated manufacturer of custom RF and microwave power amplifiers, antenna systems, and related components that serve defense, scientific, medical, and transportation end-markets. Under the CPC umbrella — or alongside it — the firm lists STI-CO Industries, which produces antenna solutions for covert and defense applications, and Innovative Power Products, a designer of high-power RF components. The geographic footprint is US-centric; origination spans the Sunbelt from ACP's Florida base, and the portfolio companies ship into defense and industrial supply chains across North America. Brian Miller and Rupert de Vink, a Blackstone Healthcare Partners alumnus who joined in 2012, share deal origination and portfolio oversight between them. The firm leans heavily on an operating advisory board with ties to industrial and agricultural Fortune 500-scale operators: Paul DeBruce, chairman of DeBruce Companies (a single-family office that managed a $6 billion agricultural and trading enterprise before its 2010 sale to Gavilon), and Lodewijk de Vink, former chairman and CEO of Warner-Lambert. ACP has not announced a new platform acquisition or a fund closing in the current cycle, maintaining a deliberate cadence consistent with its buy-and-build mandate. The structural differentiator is the RIA charter itself. Addison Capital is not a fund manager raising capital from outside limited partners and marking positions to market on a quarterly timeline. It operates as a permanent-hold vehicle for its own capital and co-investors, giving it years — not quarters — to reposition a manufacturing business, integrate add-on acquisitions, and build out management teams without the pressure of a predetermined exit horizon. That posture, combined with an advisory board drawn from single-family office and public-company C-suites, makes ACP an inheritance tool for founders who want their companies to outlast them.
General information
Firm type
Private Equity
Year founded
2005
AUM
Undisclosed
Location
Region
North America
Country
United States
City
West Palm Beach
Corporate office
319 Clematis Street, Suite 211 West Palm Beach, FL 33401
Principals
Brian Miller
Partner
Rupert de Vink
Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Addison Capital Partners?
Both named partners — Brian Miller and Rupert de Vink — share responsibility for investment decisions. Miller founded the firm in 2005 and has management responsibility for portfolio companies, while de Vink joined in 2012 from Blackstone Healthcare Partners and leads sourcing, analysis, and oversight. There is no external investment committee; the two principals sit on the board of every portfolio company.
Is Addison Capital Partners a fund or an operating company?
Addison Capital is structured as a fee-only Registered Investment Advisor (RIA), not a traditional blind-pool private equity fund. It deploys its own capital and makes direct acquisitions of smaller middle-market companies, operating them as permanent-hold portfolio businesses rather than marking them to a fund timeline. The RIA structure means it does not publicly report fund-level performance or capital commitments.
What does Addison Capital Partners actually own?
The disclosed portfolio is concentrated in design-build manufacturing and RF engineering. The firm lists Communication Power Companies (CPC), a vertically integrated manufacturer of custom RF and microwave power amplifiers and antenna systems; STI-CO Industries, which produces antenna solutions for defense and covert applications; and Innovative Power Products, a designer of high-power RF components. These businesses share a common thread of serving defense, scientific, medical, and transportation end-markets.
Does Addison Capital Partners raise outside capital?
The firm describes itself as an independent, privately owned and managed advisor whose overriding principal is capital appreciation. It does not publicly market limited-partner interests or disclose a fund-raise history. Given the principals' backgrounds in family-offices and operating companies, and the presence of a single-family office chairman on its advisory board, the capital architecture appears to rely on partner and co-investor capital rather than third-party fundraising.
How is Addison Capital Partners different from a typical middle-market private equity fund?
Two structural features distinguish it. First, the permanent-hold RIA structure removes the pressure of a five- to seven-year fund life, allowing indefinite ownership horizons. Second, the advisory board includes operators who have built and sold multibillion-dollar enterprises — Paul DeBruce grew DeBruce Grain to a $6 billion agriculture company before selling to Gavilon in 2010 — giving ACP access to strategic guidance that a conventional fund would have to purchase through consulting contracts.
What investment stage does Addison Capital Partners target?
Addison targets control acquisitions of smaller middle-market growth companies, often those that are closely held or family-owned. Its mandate covers buyouts, management buyouts, recapitalizations, and growth equity — but always with the aim of acquiring a controlling interest and stepping into an active stewardship role. The firm has not disclosed any minority or venture-stage investments.
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