Mill Road Capital Management LLC
Mill Road Capital Management LLC is a private equity investment firm headquartered in Greenwich, Connecticut. Founded in 2004, the firm is known for its creative investment approach—combining private equity governance with public market investing, particularly targeting small public companies for value creation, growth capital, and take-private transactions. Its team comprises professionals with backgrounds at major investment firms like Blackstone and KKR, and the team has an average tenure of 15 years. Mill Road's funds allow for flexible structuring, enabling capital support across public equity, debt, and private transactions. The firm primarily serves institutional investors and partners with management teams to deliver long-term value.
Investment Strategy
Mill Road Capital Management employs a distinctive private equity approach focused on small public companies that are often misunderstood or mispriced by the market. The firm leverages its ability to carry out lengthy, deep due diligence and progressively scales up investments as its understanding of the target's competitive position grows. Mill Road blends private equity fund structures with the ability to invest across a spectrum of public and private instruments, including take-private buyouts, investing in public equity and debt, and providing growth capital or deleveraging support. The firm adapts its focus based on market conditions and works closely with management for long-term value creation.
Top Holdings
Equity Positions (22)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
A ALTG | ALTA EQUIPMENT GROUP INC | 17.38% | $27.1M | 4,293,208 | $11.43 | $6.32 | +$7.0M |
B BZH | BEAZER HOMES USA INC | 11.70% | $18.3M | 816,458 | $27.40 | $22.37 | +$1.6M |
M MG | MISTRAS GROUP INC | 8.55% | $13.4M | 1,667,681 | $7.85 | $8.01 | -$4.3M |
P PHLT | PERFORMANT HEALTHCARE INC | 8.35% | $13.0M | 3,261,675 | $0.88 | $4.00 | +$3.4M |
N NGS | NATURAL GAS SVCS GROUP INC | 6.69% | $10.4M | 404,745 | $9.88 | $25.81 | +$1.6M |