Lower middle market private equity · Toronto
Buildingtogether.
We partner with exceptional management teams to unlock the next phase of growth, bringing strategy, operations, financial acumen and relationships alongside capital.Capital, strategy and operating expertise for exceptional management teams ready for their next phase of growth.
Who we are
Boardwalk invests where our experience gives us strong conviction and the ability to effect meaningful change.
Boardwalk Capital was founded by successful investors and business builders. We partner with stakeholders who share our values, our vision and our desire to create something special together.
- Strategic guidance
- Operational expertise
- Financial acumen
- Domain knowledge
- Relationships
Initial equity
Initial equity investment per platform company.
EBITDA
For initial investments. Add-ons can be any size.
Transaction types
From majority buyouts to carve-outs, take-privates and special situations.
Target sectors
Where our domain expertise and relationships drive value.
How we invest and operate
The Boardwalk Vectors of GrowthTM
- 01Partnership & Alignment
We endeavor to be great partners. We align interests to create shared success, which is why many partners choose to work and invest with us again and again.
- 02Teamwork & Collaboration
Investing is a team sport. Playing to win means playing together, and it takes many people committed to working together to achieve extraordinary results.
- 03Planning & Execution
A strong view on each opportunity, a thoughtful plan, decisive decision making and continuous tracking to make sure we do what we set out to do.
- 04Transparency & Communication
Open, honest and upfront about intentions and goals. Integrity is non-negotiable for us and our partners.
- 05Respect & Accountability
We value everyone who trusts us enough to work with us, and we want them to feel it every day. We ask only for the same in return.
- 06Continuous Improvement
A dogged commitment to getting better every day. Period.
- 07Flexibility & Creativity
No two situations are the same. Open-minded, creative problem solving keeps progress moving where other investors might trip.
- 08Have Fun
Work is hard, but it doesn’t have to be a job. The joy of accomplishment is amplified when you share it with people you are proud to call partners.
Founder track record
From zero to US$55M+ in revenue in three years.
Jordan Gnat co-founded Playmaker Capital in 2021. Through 16 acquisitions and organic growth it became the largest digital sports media company in Latin America, and was sold to Better Collective in February 2024.
Figures as reported by Boardwalk Capital. Sale completion: Business Wire, Feb 6, 2024. Past results are not indicative of future results.
Portfolio
Companies we build with.
Leadership
Investors and business builders.
Jordan Gnat and Rob Scaramella bring complementary backgrounds and common values. We look for partners who value our help and involvement as much as we value theirs.
The Boardwalk Beer TestTM
Take a chance. Let’s connect.
Great partnerships are built on shared values and mutual respect. We want partners we’d genuinely enjoy having a beer with, and who feel the same about us.
Questions answered
The short version.
Clear answers on what we invest in, how we partner and how we think about risk.
What does Boardwalk Capital do?
Boardwalk Capital is a Toronto-based lower middle market private equity firm. It makes control, majority equity investments in growing companies and brings strategic guidance, operational expertise, financial acumen, domain knowledge and relationships alongside capital.
What size of company does Boardwalk invest in?
Companies with $2 to $10 million of EBITDA, with an initial equity investment of $5 to $20 million. Add-on acquisitions can be any size.
Does Boardwalk only invest in majority control deals?
No. Boardwalk primarily seeks control, majority equity investments, but stays flexible in structuring deals to fit partners’ needs while keeping interests aligned.
Which industries does Boardwalk target?
Media, entertainment and gaming; manufacturing and distribution; consumer products and multi-unit retail; and business, industrial and environmental services.
Where does Boardwalk invest?
Boardwalk is headquartered in Toronto with a core focus on North America. The team’s international network also creates selective global opportunities through local market relationships.
What types of transactions does Boardwalk do?
Majority buyouts, minority equity investments with strong negative controls, growth capital, structured securities with equity-like features, corporate carve-outs, management team lift-outs, public take-privates and special situations.
Work with us