Sage Capital

The partners lead deal sourcing, diligence, and structuring. Co-founder and Partner Wesley Jones, Partner Spencer Finney, and Partner Michael Hollo are the primary investment decision-makers, supported by the Roundtable members whose operating backgrounds shape the firm's judgment on each investment.

The Roundtable is a committed, permanent-capital vehicle with no termination date. Sage charges no management fees on undrawn commitments and the investors are a closed group of current and retired executives who invest their own capital alongside the firm. This structure removes the pressure to deploy or exit on a fixed timeline.

Sage makes both control and minority investments. Control deals often involve partnerships with management teams or founding families, as seen with Livers Bronze and Mohawk Lifts. The firm also provides minority growth capital and recapitalizations, such as the investment in Quest Food Management Services in 2021.

Sage will not invest in commodity processors, job shops, trucking, real estate, or gaming. The firm's strategy targets operating companies with sustainable competitive advantages, preferring differentiated manufacturers, recurring-revenue services, and value-added distribution primarily between the Appalachian and Rocky Mountain regions.

Sage holds businesses as long as the partnership and management believe the asset can compound. When an exit does occur, the Roundtable may elect to roll proceeds into the acquirer, as it did after selling Check Technology Solutions to Innovative Motion Technologies in 2024 and Randall Manufacturing to Safe Fleet in 2017.

Yes. Sage offers deep mezzanine capital — subordinated debt or preferred equity with minimal restrictive covenants — alongside an appropriate participation in the company's equity upside. It typically uses this structure when the capital stack calls for debt-like instruments rather than pure common equity.

Sage regularly co-invests behind sponsors who share its partnership-oriented ethos and has also welcomed co-investors into its own led transactions. The Roundtable's ability to syndicate allows the firm to pursue larger equity requirements than its typical $5M–$30M check size.