# McCown De Leeuw & Co

McCown De Leeuw & Co is an Asset Manager based in Menlo Park, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Menlo Park, United States
- **Region:** North America
- **Address:** Menlo Park, CA, United States
- **Founded:** 1984
- **Assets under management:** $1B - $5B (Altss estimate)
- **Website:** mdcpartners.com

## Regulatory record

- **Reports private funds:** No

## About

McCown De Leeuw & Co. was a California-based private equity firm incorporated in 1984. It focused on mid-market investments across North America.

## Sectors

- Industrial Tech
- Healthcare Services
- Consumer

## Offices

- New York, NY, United States

## People

- George McCown — Co-Founder
- David De Leeuw — Co-Founder

## Questions

### How does McCown De Leeuw & Co structure its investments differently from a traditional private equity fund?

The firm operates with a permanent-capital holding-company structure rather than a typical 10-year closed-end fund. This means it is not obligated to sell portfolio companies on a fixed timeline; it can hold businesses indefinitely and reinvest cash flows. In October 2023, the firm expanded its model by forming MDC Capital Partners, a structured fund vehicle that adds institutional capital alongside the legacy balance sheet.

### What is the firm's buy-and-build strategy?

McCown De Leeuw identifies founder-owned businesses in fragmented industries — such as HVAC services, industrial testing, and packaging distribution — and acquires a platform company. It then executes a series of add-on acquisitions to create regional or national leaders. The firm provides professionalized management and operational expertise to accelerate growth.

### Does the firm co-invest with outside limited partners?

Historically, the firm invested primarily off its own balance sheet, which gave it flexibility to move quickly without managing external LP relationships. With the launch of MDC Capital Partners in 2023, the firm has signaled an intention to manage committed institutional capital for the first time, while preserving its permanent-capital legacy vehicle.

### How does the firm source deals?

McCown De Leeuw relies on a proprietary network built over four decades of investing in the industrial and service sectors. Senior partners cultivate multi-year relationships with business owners, industry executives, and specialized intermediaries. This relationship-based origination model targets proprietary transactions, often before a company engages an investment bank for a broad auction.

## Related profiles

- [MaxxWater](https://altss.com/profile/maxxwater)
- [Mediphase Venture Partners](https://altss.com/profile/mediphase-venture-partners)

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Last updated: 2026-06-03T20:00:00.000Z

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