MRE Capital

MRE Capital

MRE Capital was established in 2008 by David Williams after he acquired Merkle in 1988 for $2.8M revenue and grew it to $1.2B revenue before the 2020 exit to Dentsu. Williams serves as Chairman & Founder. The firm invests the proceeds from that transaction on behalf of his family. The strategy centers on buyouts and growth equity in people-based service businesses that exhibit essential demand, $25B+ addressable markets, and technology-enablement potential. Confirmed holdings include DJ’s Landscape Management, Trilliad, Curated Events, and Quality Brand Group. The firm also develops real estate through JCM Ventures, owning 32 properties and co-owning the Live+Make affordable-housing project in Austin with Imagine Art and Citrine Development. Geographic focus remains North America, with activity concentrated in the United States. MRE avoids fund-of-funds commitments and instead structures direct co-investments and SPVs alongside partners such as 1248 Partners and UMB Private Investments. Team size and total deployment figures are not publicly stated. The firm maintains its sole office in Annapolis. Adjacent vehicles include advisory-board participation by Williams at Runa Digital Assets and project partnerships with the Austin Housing Finance Corporation and Texas Department of Housing and Community Affairs. In late 2025 Partner Jon Schwartz appeared on a BDO podcast with Gamut Capital Management. MRE Capital operates with a hybrid structure that distinguishes it from both traditional private-equity sponsors and passive family offices. It maintains a flexible, long-horizon mandate while requiring majority ownership, significant management rollover, and CEO alignment on multi-year growth plans. This architecture allows the firm to apply the same operating playbook Williams used at Merkle across a concentrated portfolio of services companies.