Altair Investments

Decisions are driven by C. Andrew Brickman, the firm's Partner. Brickman previously spent twenty years at Baird Capital on the Industrial Solutions Team, sourcing and managing lower-middle-market buyouts. His role at Altair extends from deal origination through post-close governance, while Kamal K. Tiwari handles operational execution as Operating Partner.

Altair concentrates on manufacturing niches where Brickman and Tiwari have direct operating or investing experience — recreational boating, plastics processing, and industrial technology. Because the firm targets businesses with EBITDA under $5 million, it operates below the typical institutional buyout floor, which reduces auction competition. The firm's narrow, sector-focused mandate and the principals' personal networks in legacy industrial segments serve as the primary origination channels.

The firm has not disclosed its fund structure publicly. No filings or press releases reference a named fund or committed capital pool. Altair's acquisitions — Marathon Boat Group and the Xaloy carveout from Nordson — appear to have been executed directly, but whether capital comes from a single LP, a committed fund, or an independent sponsor model has not been confirmed.

Altair's criteria screen for established manufacturing businesses with mature business models, and its portfolio is concentrated in recreational boating, plastics-processing components, and industrial technology. The firm does not invest in services, software, or consumer-facing businesses. There is also no indication that it pursues businesses outside North America, despite using global expansion as a post-close value lever.

Operating Partner Kamal K. Tiwari has taken the CEO seat at Xaloy Holdings, which Altair carved out from Nordson. Tiwari's background — 25-plus years of P&L management for manufacturing units of public companies and mid-sized PE-held firms — signals that Altair installs its own leadership rather than relying solely on incumbent management. Brickman and Tiwari collectively handle strategy, supply-chain redesign, and geographic expansion initiatives.

Altair has not disclosed any co-investment partnerships with other private equity firms. Each announced transaction — Marathon Boat Group, the Nordson carveout, and the unnamed recreational boating acquisition — has been structured as a solo acquisition. The firm's operational playbook and small-target focus suggest it prefers full control.

Xaloy is a portfolio company. Altair acquired the screws and barrels product line from Nordson Corporation's polymer processing systems division and placed Operating Partner Kamal K. Tiwari as CEO. Altair subsequently relocated Xaloy's barrel manufacturing from Ohio to a reopened facility in Pulaski, Virginia — a reshoring move announced with state-level support.