LongWater gives accredited investors a way into 18 lower middle market companies across the American Heartland. We have 16 years of track record and $800M under management today, with 6 realized exits since 2014.
You invest in founder-owned and family-owned industrial businesses with $4M+ EBITDA across the American Heartland. We take control positions, sit on the board, and run the playbook. Most large private capital firms skip this part of the market, so the deals are open to us.
What we invest in · LongWater Opportunities · Fargo, North Dakota
The same team reviews, buys, and runs every deal from offices in Fargo, Dallas, St. Louis, and Boston. The terms below apply across all three active strategies and match how the 6 realized exits were structured.
You can put money into private equity, capital solutions, or the new SBIC fund. The same team that opened the Fargo office in 2009 runs all three, with help from the Dallas, St. Louis, and Boston offices added since then. Same people. Same rules. Three ways in.
You back control positions in private, founder-owned and family-owned North American industrial businesses with $4M+ EBITDA. We invest in industrial services, power, distribution, building products, transportation, infrastructure, specialty manufacturing, and farm-related companies.
You earn yield from private credit (senior, unitranche, second-lien, mezzanine), minority preferred and common equity, and LP fund stakes. Companies need $3M+ EBITDA, strong margins, steady cash flow, and a defensible market.
Our first SBIC fund. The SBA adds loan capacity on top of investor money, which can lift returns. First deal closed in July 2025 with Valley Lighting. Fresh window open now for accredited investors who want into the LongWater pipeline.
We opened LongWater in Fargo in 2009 because nobody was buying the founder-owned and family-owned industrial companies in our part of the country. We thought a firm based here, with offices close to these businesses, could do this better than a coastal fund flying in for a day. 16 years later, with 6 realized exits and 18 active portfolio companies, the same two co-founders still find the deals, still vote on the investment committee, and still pick up the phone when an investor calls the Fargo office.
Brooks Burgum & Jordan BastableCo-Founders · LongWater Opportunities · Fargo, North Dakota
A short call with our investor relations team. We walk you through the 6 realized exits, what we own today across private equity and capital solutions, and the open window on the new SBIC fund that started in 2025.
