About Us

  • Conanicut Capital LLC (“Conanicut Capital”) is a Boston-based lower-middle market private equity firm focused on the business services sector with backing from Evolution Managers Capital LLC (“EMC”).

  • EMC was formed by HC Private Investments (“HCPI”), a Chicago-based private investment firm, and Landon Capital Partners (“LCP”), a Boston-based family office providing Conanicut Capital with a flexible and patient capital base.

  • Conanicut Capital focuses on being the first to partner with business owners and management teams of exceptional service-based companies to assist these companies in reaching their full potential.

Investment Strategy

Given its partnership backing and capital base, Conanicut Capital is able to be a patient and flexible financial partner to its portfolio companies. 

Conanicut Capital’s Investment Strategy is predicated on four major “legs of the stool” which include: 

  • Sector: focused on the Business Services Sector
  • Size: focused on companies between $3 and $15 million of EBITDA with minimum EBITDA margins of 10%
  • Capital: flexible, patient capital base
  • Value-Add/Partnership: target to be the first institutional investor; leverage network of Operating Executives; work collaboratively with management to develop post-close Strategic Plan; resolve any roadblocks to growth; build sustainable platform for the long-term

Investment Characteristics

Conanicut Capital’s mission is to source, acquire, and manage lower-middle market private equity investments, targeting opportunities for control and growth equity positions in companies with $3 to $15 million of EBITDA primarily located in the United States. 

Preferred investment criteria for potential targets include the following: 

  • Business services sub-sectors that demonstrate a specialized, necessary outsourced service with identified areas of growth
  • Opportunity to partner with high-quality business owners and management teams 
  • Opportunity to leverage network of Operating Executives in relevant sub-sectors
  • Companies that demonstrate predictable earnings, high levels of recurring revenue and free cash flow conversion, and defensible market positions
  • Companies that appreciate the longer-term approach to partnership and growth

Within the Business Services Sector, select sub-sectors of interest include, among others:

  • HCM
  • Outsourced Services
  • BPO
  • Environmental & Engineering Services

Team

Jared B. Paquette, Managing Partner

Mr. Paquette is the founding, managing partner of Conanicut Capital LLC ("Conanicut Capital"). Conanicut Capital is a lower-middle market private equity firm focused on the business services sector with backing from Evolution Managers Capital LLC ("EMC"). Prior to founding Conanicut Capital, Mr. Paquette was a senior investment professional at Bunker Hill Capital, a lower-middle market private equity firm based in Boston and San Diego, for ten years where he sourced, executed, and managed private equity investments. Mr. Paquette was formerly a member of the board of Taos Mountain LLC, Rizing LLC, Dyno LLC, and ASPEQ Heating Group LLC. Previously, Mr. Paquette was an investment professional at Nautic Partners and Weston Presidio where he focused on investing in middle market companies in a broad range of industries. Mr. Paquette also worked as an associate in the mergers and acquisitions groups of RBC Capital Markets and Tucker Anthony. Mr. Paquette holds an AB from Bowdoin College and a MBA from the University of Chicago Booth School of Business. 

One-Page Executive Summary

Contact Us

Conanicut Capital LLC

21 Custom House Street, Boston, Massachusetts 02110, United States

jared@conanicutcap.com (617) 285-6127

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