Investments
78Portfolio Exits
39Funds
6Partners & Customers
10Service Providers
3About Ridgemont Equity Partners
Ridgemont Equity Partners operates a private equity firm that provides buyout and growth capital to closely-held private companies and new business platforms. It focuses on investments in basic industries and services, energy, healthcare, and telecommunications, media, technology. The company was founded in and is based in Charlotte, North Carolina.

Want to inform investors similar to Ridgemont Equity Partners about your company?
Submit your Analyst Briefing to get in front of investors, customers, and partners on CB Insights’ platform.
Latest Ridgemont Equity Partners News
Jan 25, 2023
Ridgemont Equity Partners Recapitalizes Worldwide Produce Ridgemont Equity Partners Recapitalizes Worldwide Produce CHARLOTTE, N.C.- Ridgemont Equity Partners , a middle market private equity investor, today announced the recapitalization of Worldwide Produce (the “Company”), a leading distributor of fresh fruits, vegetables, dairy products and specialty foods to restaurants, foodservice customers and grocery stores across the western United States. Worldwide Produce operates five climate-controlled distribution facilities across its geographic footprint. Sole Source Capital , the Company’s existing financial sponsor, will retain a meaningful minority stake in Worldwide Produce in partnership with Ridgemont and Company management. “Ridgemont’s partnership with Worldwide Produce is the culmination of a multi-year firm effort to invest in the B2B food supply chain industry, based on the resilience of the food end market, durable shifts in consumer preferences for ‘better for you’ foods and the increasing consumption of food away from the home,” said John Grenier, Principal at Ridgemont. “Worldwide Produce exemplifies many of the most important characteristics that we have been seeking – the Company has a diversified customer and product mix, operates in a large and fragmented industry and is led by a strong, well-rounded management team that has experience executing organic and M&A growth initiatives.” Tim Dillon, Partner at Ridgemont, added: “We are excited to help implement a growth and value creation strategy that we’ve been successful executing with other specialty distributors. Together with management and Sole Source, we have the opportunity to build a super-regional leader through selective acquisitions across the United States. We are all aligned on how to invest in the team and operations so that the Company can enter new markets and win new business. Worldwide Produce is large enough to benefit from scale with an extensive product and service offering, but locally-focused to deliver a high-touch customer experience on a daily basis.” “We look forward to continuing our track record of adding new independent specialty food distributors to the Worldwide Produce footprint and integrating operations and relationships to strengthen our position in the market with our grower partners and customers,” said Todd Ferguson, CEO of Worldwide Produce. “We have the best salesforce in the business in our regions – they are knowledgeable and passionate and have built trusted relationships with key members of the local food communities. We will continue to focus on recruiting and supporting our salespeople and other employees as we scale our Company.” David Fredston, Founder and CEO of Sole Source Capital, added: “We have developed a great partnership with the Worldwide Produce team over the last three years and are very pleased to continue supporting the platform. There are many more growth opportunities to pursue together, and recapitalizing the business with Ridgemont and management positions Worldwide Produce to continue its trajectory.” Financing for the transaction was provided by Ares Management Credit Funds, NXT Capital, Kayne Anderson Private Credit, Manulife Investment Management, PNC Erieview Capital and Yukon Partners. Harris Williams LLC served as financial advisor to Ridgemont, and Truist Securities served as financial advisor to Worldwide Produce and Sole Source. Alston & Bird served as legal advisor to Ridgemont and Proskauer served as legal advisor to the Company and Sole Source. This investment was made from Ridgemont Equity Partners IV, L.P. Financial terms of the transaction were not disclosed. About Worldwide Produce Worldwide Produce is a leading distributor of fresh fruits, vegetables, dairy products and specialty foods to restaurants, foodservice customers, and grocery stores across the western United States. The Company continues to expand its footprint quickly through organic growth and acquisitions. Worldwide Produce offers an extensive selection of fresh and specialty food products, sourced directly from its best-in-class grower and supplier network to its foodservice-focused customer base. www.wwproduce.com About Ridgemont Equity Partners Ridgemont Equity Partners is a Charlotte-based middle market private equity firm that has provided buyout and growth capital to industry-leading companies in the business and tech-enabled services, industrial growth, and healthcare sectors for nearly three decades. The principals of Ridgemont have refined a proven, industry-focused model designed to build distinctive middle market companies. For more information, please visit www.ridgemontep.com . About Sole Source Capital Founded in 2016 by David Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The firm has a strong operating heritage that enables it to execute a buy-and-build strategy with significant downside protection. The firm is headquartered in Dallas, Texas with an additional office in Santa Monica, California.
Ridgemont Equity Partners Investments
78 Investments
Ridgemont Equity Partners has made 78 investments. Their latest investment was in Worldwide Produce as part of their Recap on January 1, 2023.

Ridgemont Equity Partners Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
1/24/2023 | Recap | Worldwide Produce | Yes | 5 | ||
1/5/2023 | Recap - II | RoadOne | Yes | 3 | ||
6/2/2022 | Private Equity | Crete Mechanical Group | Yes | 1 | ||
10/13/2021 | Private Equity | |||||
10/5/2021 | Private Equity |
Date | 1/24/2023 | 1/5/2023 | 6/2/2022 | 10/13/2021 | 10/5/2021 |
---|---|---|---|---|---|
Round | Recap | Recap - II | Private Equity | Private Equity | Private Equity |
Company | Worldwide Produce | RoadOne | Crete Mechanical Group | ||
Amount | |||||
New? | Yes | Yes | Yes | ||
Co-Investors | |||||
Sources | 5 | 3 | 1 |
Ridgemont Equity Partners Portfolio Exits
39 Portfolio Exits
Ridgemont Equity Partners has 39 portfolio exits. Their latest portfolio exit was Backstage on February 01, 2022.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
2/1/2022 | Acquired | 1 | |||
1/11/2022 | Acquired | 5 | |||
9/7/2021 | Acquired | 3 | |||
Date | 2/1/2022 | 1/11/2022 | 9/7/2021 | ||
---|---|---|---|---|---|
Exit | Acquired | Acquired | Acquired | ||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 1 | 5 | 3 |
Ridgemont Equity Partners Acquisitions
34 Acquisitions
Ridgemont Equity Partners acquired 34 companies. Their latest acquisition was American Outcomes Management on February 24, 2022.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
2/24/2022 | Acq - Fin | 1 | ||||
10/19/2021 | Acq - Fin | 1 | ||||
8/3/2021 | Private Equity | $7.5M | Acq - Fin | 1 | ||
10/20/2020 | Private Equity | |||||
6/22/2020 |
Date | 2/24/2022 | 10/19/2021 | 8/3/2021 | 10/20/2020 | 6/22/2020 |
---|---|---|---|---|---|
Investment Stage | Private Equity | Private Equity | |||
Companies | |||||
Valuation | |||||
Total Funding | $7.5M | ||||
Note | Acq - Fin | Acq - Fin | Acq - Fin | ||
Sources | 1 | 1 | 1 |
Ridgemont Equity Partners Fund History
6 Fund Histories
Ridgemont Equity Partners has 6 funds, including Ridgemont Equity Partners IV.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
10/25/2022 | Ridgemont Equity Partners IV | $2,350M | 2 | ||
12/18/2018 | Ridgemont Equity Partners III | ||||
11/9/2017 | Ridgemont Equity Partners Energy Opportunity Fund | ||||
11/11/2015 | Ridgemont Equity Partners II | ||||
3/31/2013 | Ridgemont Equity Partners I LP |
Closing Date | 10/25/2022 | 12/18/2018 | 11/9/2017 | 11/11/2015 | 3/31/2013 |
---|---|---|---|---|---|
Fund | Ridgemont Equity Partners IV | Ridgemont Equity Partners III | Ridgemont Equity Partners Energy Opportunity Fund | Ridgemont Equity Partners II | Ridgemont Equity Partners I LP |
Fund Type | |||||
Status | |||||
Amount | $2,350M | ||||
Sources | 2 |
Ridgemont Equity Partners Partners & Customers
10 Partners and customers
Ridgemont Equity Partners has 10 strategic partners and customers. Ridgemont Equity Partners recently partnered with Crete Mechanical Group on June 6, 2022.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
6/2/2022 | Partner | United States | Ridgemont Equity Partners Provides Growth Capital to Crete Mechanical Group `` This growth capital investment and strategic partnership with Ridgemont Equity Partners marks an important milestone for Crete Mechanical Group , '' said Jake Sloane and Frank Zhang , Co-Founders and Co-CEOs of Crete Mechanical Group , in a joint statement on behalf of CMG . | 2 | |
6/2/2022 | Partner | United States | Ridgemont Equity Partners Provides Growth Capital to Crete Mechanical Group. `` This growth capital investment and strategic partnership with Ridgemont Equity Partners marks an important milestone for Crete , '' said Jake Sloane and Frank Zhang , Co-Founders and Co-CEOs of Crete Mechanical Group , in a joint statement on behalf of CMG . | 1 | |
6/1/2020 | Partner | United States | Ridgemont Equity Partners, HealthMark Group, and OTech Group Form HCIT Partnership Charlotte , NC -LRB- February 4 , 2020 -RRB- -- Ridgemont Equity Partners , a middle market private equity investor , today announced its partnership with HealthMark , a technology-enabled provider of release of information and other health information management services , and OTech Group , a provider of patient intake management software and systems . | 1 | |
6/1/2020 | Partner | ||||
2/4/2020 | Partner |
Date | 6/2/2022 | 6/2/2022 | 6/1/2020 | 6/1/2020 | 2/4/2020 |
---|---|---|---|---|---|
Type | Partner | Partner | Partner | Partner | Partner |
Business Partner | |||||
Country | United States | United States | United States | ||
News Snippet | Ridgemont Equity Partners Provides Growth Capital to Crete Mechanical Group `` This growth capital investment and strategic partnership with Ridgemont Equity Partners marks an important milestone for Crete Mechanical Group , '' said Jake Sloane and Frank Zhang , Co-Founders and Co-CEOs of Crete Mechanical Group , in a joint statement on behalf of CMG . | Ridgemont Equity Partners Provides Growth Capital to Crete Mechanical Group. `` This growth capital investment and strategic partnership with Ridgemont Equity Partners marks an important milestone for Crete , '' said Jake Sloane and Frank Zhang , Co-Founders and Co-CEOs of Crete Mechanical Group , in a joint statement on behalf of CMG . | Ridgemont Equity Partners, HealthMark Group, and OTech Group Form HCIT Partnership Charlotte , NC -LRB- February 4 , 2020 -RRB- -- Ridgemont Equity Partners , a middle market private equity investor , today announced its partnership with HealthMark , a technology-enabled provider of release of information and other health information management services , and OTech Group , a provider of patient intake management software and systems . | ||
Sources | 2 | 1 | 1 |
Ridgemont Equity Partners Service Providers
9 Service Providers
Ridgemont Equity Partners has 9 service provider relationships
Service Provider | Associated Rounds | Provider Type | Service Type |
---|---|---|---|
Private Equity | Investment Bank | Financial Advisor | |
Service Provider | |||
---|---|---|---|
Associated Rounds | Private Equity | ||
Provider Type | Investment Bank | ||
Service Type | Financial Advisor |
Partnership data by VentureSource
Ridgemont Equity Partners Team
1 Team Member
Ridgemont Equity Partners has 1 team member, including current Chief Operating Officer, Edward A. Balogh.
Name | Work History | Title | Status |
---|---|---|---|
Edward A. Balogh | Chief Operating Officer | Current |
Name | Edward A. Balogh |
---|---|
Work History | |
Title | Chief Operating Officer |
Status | Current |
Discover the right solution for your team
The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.