Tower Arch Capital

Managing Partner Rhett Neuenschwander and Partner David Topham co-lead the investment committee, with both principals maintaining active board roles across portfolio platforms. The firm operates a flat partnership structure without a separate investment-committee tier, meaning all senior partners participate in underwriting and approval decisions. Neuenschwander and Topham previously worked together at Huntsman Gay Global Capital before launching Tower Arch in 2013.

Tower Arch executes direct control buyouts and does not operate as a fund-of-funds or allocator to third-party managers. The firm structures each transaction as a platform acquisition, targeting majority or full ownership to enforce operational governance. Co-investment alongside limited partners is available on a deal-by-deal basis but is not the primary model.

The firm targets mature, cash-flow-positive businesses with $5 million to $25 million in EBITDA, writing equity checks of $25 million to $75 million for control positions. Tower Arch does not invest venture-stage, pre-revenue, or minority-growth rounds. The firm's mandate covers management buyouts, corporate divestitures, founder recapitalizations, and add-on acquisitions to existing platforms.

Sourcing leverages the partners' multi-decade networks across the Intermountain West, with emphasis on proprietary relationships with business owners, regional investment banks, and corporate development teams. The firm's in-house operating-partner bench is also deployed during the sourcing phase to diagnose operational opportunities before a letter of intent is signed, which serves as a competitive differentiator when families weigh multiple suitors.

The firm does not invest in real estate, natural resources, financial services, or early-stage biotechnology. Tower Arch's mandate excludes regulated industries such as banking and insurance. The firm also avoids minority-passive stakes, consistently opting for control positions where it can drive operational change.

The firm concentrates on companies headquartered or operating primarily in the U.S. Mountain West, Southwest, and select Sunbelt markets—specifically Utah, Colorado, Arizona, Texas, and adjacent states. Tower Arch does not pursue deals in the coastal technology hubs unless the target company has a meaningful operational footprint within its core geography.

Tower Arch is an independent partnership with no remaining affiliation to Huntsman Gay Global Capital. Where Huntsman Gay pursued a broader growth-equity mandate with multiple fund strategies, Tower Arch describes a narrower, control-only, operationally intensive approach. The firm was founded by two former Huntsman Gay principals who sought to build a platform purpose-built for transitioning founder-owned businesses into professionally managed entities.