Han Capital

Han Capital focuses on corporate carve-outs, where it acquires non-core divisions from larger parent companies. The firm targets industrials and business services with operational complexity that deters conventional buyers. Its strategy spans buyouts, growth equity, and restructuring, emphasizing situations requiring extensive post-close operational separation and hands-on turnaround work.

Han Capital operates as a specialized private equity asset manager rather than a family office. The firm structures control buyouts on a deal-by-deal basis, leveraging seller financing and management partnerships rather than deploying capital from a blind-pool institutional fund. This gives it flexibility in transaction timelines and capital structures.

The firm sources primarily through direct relationships with corporate development teams at larger conglomerates seeking to divest non-core divisions. By targeting technically difficult carve-outs that fall outside the strike zone of larger private equity funds, Han Capital competes on execution certainty rather than price, often working with intermediaries who recognize the complexity of these transactions.

Han Capital concentrates on North America, with a pronounced emphasis on the Midwest and Great Lakes industrial corridor. Its Lincolnwood headquarters places it within reach of a dense network of privately held manufacturers and corporate subsidiaries in Illinois, Indiana, Ohio, Michigan, and Wisconsin.

The firm typically targets businesses with revenues between $10 million and $100 million. This lower middle-market segment aligns with its hands-on operational approach, where deal size is small enough for a concentrated team to manage complex carve-out transitions but large enough to support meaningful enterprise value creation through restructuring.