Fresh Water Ventures

Co-founders Mitch and Ryan Harrington lead all acquisition and operational decisions. The brothers spent more than 20 years in the fencing and decking industry before launching Fresh Water Ventures, and they remain the sole named principals publicly associated with the firm.

Fresh Water Ventures targets businesses valued at $1 million to $3 million. This band is deliberately below the floor of most institutional private equity funds, which tend to pass on sub-$5 million enterprise-value deals. The firm describes that gap as a market failure in transition capital — small industrial owners often lack a buyer when they retire, forcing liquidation or closure.

Fresh Water Ventures positions itself as a long-term buyer-operator, not a fund with a fixed exit window. Its materials reference “preserving the values that you have established” and developing leadership internally, which suggests an indefinite hold model rather than the five-to-seven-year turnaround common in institutional private equity.

The firm acquires small manufacturers and field-service companies in rural Michigan and Northern Indiana. Its current portfolio includes HVAC service providers, a precision machining shop, a high-frequency drive manufacturer, and outdoor-products fabricators. It does not invest in technology, healthcare, or consumer brands.

Fresh Water Ventures emphasizes keeping the business local, retaining existing staff, and developing the next generation of leaders from within. Co-founder Ryan Harrington publicly stated the firm’s commitment to customers and employees, and the acquisitions of Kidder Heating & Air Conditioning and Able Heating & Cooling both retained their original founding teams.