Tonka Bay Equity Partners acquires and invests in small and midsized companies that are pursuing the next level of success. Our patient, personalized and collaborative approach has yielded superior returns for investors and management partners alike.

Since 1998,

Tonka Bay has raised more than $550 million of capital in four funds, composed of contributions from institutional investors, endowments, pensions, family offices and high-net-worth individuals. We seek to partner with and support management teams in established, profitable businesses that serve a specific niche. We do not consider startup or turnaround situations. Nor do we invest in financial institutions, real estate companies, or restaurants.

Our Criteria

Investment verticals

Business size


Focused Industry Strategy

We believe that consistently and proactively seeking partnerships with business owners is a vital component of a successful investing strategy. We leverage our deep industry knowledge and prior experiences to develop targeted industry specific investment initiatives. Current focused industry strategies include U.S.-based businesses with revenue of at least $10 million and EBITDA greater than $2 million in the following sectors:

Dental Products

Industrial Distribution

Highly Engineered Sensors

Safety Products

Specialty Chemicals

Food Manufacturing

Help us develop our next industry strategy.


Success Stories

All Flex

All Flex

Accelerated growth prior to a company sale that kept staff intact.

Apex Revenue Technologies

Apex Revenue Technologies

Delivered significant growth while partnering with the founder.

Checkers Safety Group

Checkers Safety Group

Recapitalized after triple-digit sales and EBITDA percentage increases.