Seacoast Capital

Managing Partners Tom Gorman and Eben Moulton lead the firm's investment committee. Both co-founded Seacoast in 1994 and remain actively involved in underwriting and structuring every deal. The firm operates with a lean professional team and draws on operating partners for sector-specific diligence, but all final investment decisions rest with the two managing partners.

Seacoast is structured primarily for non-control investments. It provides subordinated debt and minority equity, targeting founder-led businesses where management seeks growth capital without diluting operational control. The firm can participate in buyouts, but its core thesis is that flexible minority capital, combined with strategic operating support, generates superior risk-adjusted returns in the lower middle market.

The firm targets companies with $10 million to $100 million in revenue, deploying $10 million to $30 million per transaction. This bracket captures profitable, founder-owned businesses that are too large for friends-and-family capital but too small for institutional control funds. Seacoast's typical target has a demonstrated cash-flow history and operates in industrial technology, business services, or enterprise software.

Seacoast relies on a long-tenured network of regional investment banks, business brokers, and operating partners developed over three decades from its Boston base. Because the firm offers both debt and equity from a single fund, intermediaries often bring it into processes that would otherwise require two separate capital providers. The firm competes directly against subordinated debt funds and minority-equity shops, using its flexible mandate as a competitive wedge in founder conversations.

Seacoast raises committed capital on a deal-led cycle rather than a fixed biennial or triennial schedule. This episodic structure is common among lower-mid-market firms that prefer to match fundraising with a visible pipeline rather than managing large pools of undeployed capital. Fund size is not publicly disclosed, but the firm's per-deal capacity of $10 million to $30 million implies a fund size consistent with a concentrated, relationship-driven portfolio.