Sheridan Capital Partners

Sheridan employs a thesis-driven origination model that proactively identifies compelling trends and targets within healthcare subsectors before a company is formally on the market. The firm’s business development team cultivates founder relationships in fragmented niches such as behavioral health, dental specialties, and pharma services. By entering conversations with sector expertise already developed, Sheridan can move with speed and certainty on transactions that bypass broad auction processes.

Sheridan executes direct control investments and partial recapitalizations, not fund-of-fund commitments. The firm acquires majority or significant minority stakes in operating companies, then applies an in-house Value Creation Team to drive post-close transformation. There is no indication in its published materials that it acts as a limited partner in third-party private equity funds.

Sheridan targets lower middle-market companies requiring growth capital, buyout, or succession-driven recapitalization. For services and products businesses, it focuses on platforms with $5–25 million in EBITDA; for software and technology-enabled companies, it looks at revenue in the $5–30 million range. The firm’s equity checks run from $15 million to $150 million, and add-on acquisitions must be cash-flow positive.

Sheridan’s published investment criteria span healthcare outsourced services, pharma services, payor services, tech-enabled healthcare, life sciences consulting, and medical education. On the provider side, the firm has focuses in behavioral health (ICANotes, January 2026), dental specialties (Smile Doctors), women’s health, ENT, post-acute care, and specialty veterinary services. In medical products, it covers contract manufacturing (Currier Plastics, January 2026), specialty pharmacy, consumables, and specialty packaging.

Sheridan built a three-tier operations group—Value Creation Team, Functional Resource Team, and Resident Leadership—that embeds operators directly into portfolio companies during transition periods. The firm’s model augments or temporarily replaces management where necessary, deploys project-level functional consultants, and draws on a Strategic & Executive Advisory Team for board-level governance. This structure lets Sheridan underwrite succession-driven and operationally intensive deals that a purely financial sponsor would avoid.

The firm’s website references The Sheridan Foundation and describes 'a lasting commitment to our partners.' It does not publicly disclose foundation governance, asset levels, or programmatic focus areas, and no regulatory filings were surfaced for this profile. The foundation appears to exist as a corporate-giving vehicle rather than a separately branded large-scale philanthropic organization.

Sheridan has not publicly disclosed a formal co-investment program for limited partners. Its published materials describe direct equity investments and add-on acquisitions executed off its own balance sheet. The firm makes no mention of offering co-investment rights to external investors, and no co-investment vehicles appear in its strategy documentation.