Dallas-based Broadwing Capital Management LLC, a private equity firm targeting lower-middle-market manufacturers and service providers, closed its inaugural Broadwing Capital Fund I LP. The $440 million fundraise exceeded the initial $350 million goal.
Broadwing said the money will help it turn promising companies into “market leaders.”
The fund was oversubscribed due to strong demand from institutional investors such as pension plans, insurance companies, foundations, family offices and registered investment advisors, Broadwing said. The general partner and its affiliates made additional commitments to a parallel fund that invests alongside Fund I.
“We’re on a mission-driven journey to build the most trusted and transformative private equity firm in the lower middle market, and [the fund] reflects the confidence our investors have placed in our team, our strategy and our track record,” Eliot Kerlin, co-founder and managing partner of Broadwing, said in a statement.
“I’m both humbled and energized by investor response that exceeded our expectations,” he said. “Our incredible team is excited about how [the fund] will enable our expansion as we thoughtfully scale niche platforms into market leaders through hands-on operational support that enhances companies, cultures and communities.”
Equipping companies for growth
Founded in 2022 by Kerlin and fellow private equity investor Andrew Boisseau, Broadwing backs founder-, family- and operator-owned companies in the manufacturing and services sectors. The firm said it has raised more than $730 million in committed capital and closed 26 acquisitions since 2022.
Broadwing uses its proprietary Broadwing Flight Path and Broadwing Capital Playbook tools to unearth opportunities, underwrite investments and add value to portfolio companies, the company said.
“A generational wave of businesses is on the precipice of changing hands, and we started Broadwing to give founders and investors a path to make the most of this opportunity,” Boisseau said. “Many firms talk about operational partnership, but we purpose-built our model around it, with a resource group that equips and enables management teams to drive sustainable growth.”
Recent moves
In December 2025, Broadwing acquired CloudScale365, a Nashville, Tennessee-based provider of managed IT services. The firm’s current portfolio comprises companies in tech, construction, and mechanical, electrical and plumbing services.
This summer, Broadwing combined portfolio companies CloudScale365, Valeo Networks and PCS International to form Forte Technologies. Irving-based Forte provides managed IT, cybersecurity, cloud and compliance services to more than 3,300 customers in the U.S.
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