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Driving Bold Impact.
Preserving What’s Important.

Navigating transformation and growth for founder-, family-, and management-led firms for more than 15 years.

McNally Logo

Where Strategic Capital Meets Sector Expertise.

We believe our thesis-driven investment approach and proven track record in Aerospace & Defense and Industrial Technology & Services uniquely positions us to identify and capitalize on transformative opportunities.

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Atlas: Our RoadMap. Your Success.

Our proprietary value creation process, Atlas, seeks to ensure a rigorous, repeatable and scalable approach to driving growth and adding value.


Preserving legacies and capitalizing possibility.

WHO WE ARE

17

Years in Business

30

Distinctive Transactions

20

Employees

20

Years Average Experience of Investment Committee Members & Observers

Statistics as of February 2026

McNally Capital, founded by Ward McNally in 2008, is a transformative private investment firm that partners with founder-, family-, and management-led businesses in Aerospace & Defense and Industrial Technology & Services. From our thesis-driven investment methodology and deep sector expertise, to our proprietary value creation roadmap, Atlas - we believe what sets us apart is the enduring quality of our relationships and our long-standing reputation for respect, integrity, and partnership. For more than 15 years, we have been seeking to drive measurable impact, preserve legacies, and maximize returns for founders, investors, and partners.

About Us

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HOW WE INVEST AND ADD VALUE

Thesis-Driven. Expert-Informed. Rigorously Executed.

Our thesis-driven investment approach, deep expertise in our sectors of focus, and rigorous investment methodology allow us to identify opportunities where we believe we have an advantage and can make the most impact in seeking to generate returns for our investors and portfolio companies.

  • We have a rigorous and defined framework for identifying investment platforms and potential levers for generating alpha within a specific sector. This includes our development of deep sector knowledge, formalized criteria for targeted selection, beneficial network effects, and identification of differentiated value creation levers.  

  • We believe our extensive long-standing strategic relationships with investors, founders, and industry experts, complemented by a distinctive network of expert collaborators, unlock unparalleled opportunities, connecting capital to people, possibility, and impact. We believe this connected ecosystem of expertise and influence sets us apart. 

  • In our experience, our value-creation roadmap, Atlas, has consistently delivered positive results for founder, family, and management-led lower-middle market companies over the last 15 years. Repeatable, rigorous, and agile, Atlas optimizes and integrates key levers such as good governance, strategic planning, and operational improvements to add value and propel legacies forward.

Aerospace & Defense

McNally Capital values the Aerospace & Defense sector due to its mission-critical nature, high barriers to entry, and industry tailwinds with long-term demand drivers. We believe these factors create sustained growth opportunities.

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Industrial Technology & Services

McNally Capital sees strong potential in the Industrial Technology & Services sector due to its mission-critical role in addressing U.S. geopolitical and labor challenges. We believe the industry is at an inflection point where technological innovation can drive significant impact.

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HOW WE PARTNER

Expert Guidance. 

Lasting Impact.

At McNally Capital, we partner with companies as one team, working side by side to bring their vision to life. From the moment we invest to the point of exit, we seek to help companies navigate the growth journey with transparent, collaborative, and expert support and guidance.

Learn More in Our Executive Summary →

  • Over 15 years of success using the Atlas framework to maximize returns while seeking to preserve legacies.

  • Specialized in thesis-driven investments across aerospace & defense and industrial technology & services.

  • Trusted, long-term partnerships built on Midwestern values, respect, and collaboration.

OUR COMPANIES

  • Endurion
  • Airforce Turbine Service (ATS) logo
  • Patriot Group International (PGI)
  • Thryve Automation
  • Xcelerate
  • Foundral logo
  • Orbis logo
  • Altamira logo
  • FedData logo
  • Dedicated Computing Logo

See Our Full Portfolio

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NEWS & INSIGHTS

Our Latest Stories

News
McNally Capital-Backed Foundral Acquires A. Hattersley & Sons

McNally Capital portfolio company Foundral strengthens its mechanical contracting platform with the acquisition of A. Hattersley & Sons, which brings over a century of experience in delivering high-quality mechanical solutions across commercial, industrial, and institutional markets.

McNally Capital Portfolio Company, Quiet Professionals, Re-Brands as Endurion

McNally Capital portfolio companies Quiet Professionals and Spathe Systems have rebranded as Endurion, a mission-focused defense and technology company for the U.S. Special Operations community and broader national security missions.

McNally Capital Announces Promotions of Four Team Members

The firm is pleased to announce the promotion of four team members‍: both Brooks Hulett and Rob Kirk to Principal, and Luther Rice and Mary Pizzo to Vice President.

2025: An Outstanding Year of Growth

2025 was a year of meaningful progress and continued growth at McNally Capital. In a market filled with uncertainty, we stayed true to our investment discipline and sector focus in the lower middle market, completing two platform acquisitions and two add-on investments.

McNally Capital Makes Strategic Investment in Airforce Turbine Service, a Leading Global Aviation Services Company

We are pleased to announce our acquisition of Airforce Turbine Service, Ltd. (“ATS”), a leading independent global aviation services company specializing in maintenance, repair, and overhaul (“MRO”) of the PT6A turboprop engine family.

McNally Capital Introduces Foundral, a New Platform for Union Mechanical Contracting Leaders

McNally launches Foundral, a newly formed and rapidly expanding family of union-backed mechanical contracting companies. Foundral builds on the success and legacy of an existing McNally Capital portfolio company: Smith & Oby.

McNally Capital Announces Merger of Quiet Professionals and Spathe Systems

The combined platform, a merger of the firm’s portfolio company, Quiet Professionals, with Spathe Systems, is positioned to become the leading provider of defense technology and operational support solutions with a specialized focus on the U.S. Special Operations Forces community.

Seeking Strategic Add-Ons – Commercial HVAC Mechanical Contractors

McNally Capital and Smith & Oby are seeking partnership opportunities with commercial HVAC mechanical contractors.

McNally Invests In Quiet Professionals, LLC

The firm’s strategic investment in a leading provider of advanced technology and intelligence solutions for the U.S. national security community will drive next-phase growth in the sector.

McNally Capital Expands Portfolio Company Operations Team and Deal Team with Five Hires

The firm expands with addition of five experienced professionals to its team—Gus Pinto, Tim Gossett, Rob Kirk, and Ryan McDonough joining the Portfolio Operations Team, and Grace Chatas joining the Deal Team.

McNally Capital Recognized with Multiple Industry Awards for Excellence in Private Equity

McNally Capital has been recognized with multiple prestigious industry awards, underscoring the firm’s commitment to transformative value creation, innovation, and active partnership with the businesses it invests in.

McNally Invests In Jewett Automation

The firm is pleased to announce an investment in Jewett Automation, a leading manufacturer of filtration equipment and custom automation solutions, specializing in highly engineered, automated manufacturing and robotic systems for complex industrial applications.

McNally Capital Named to Inc.’s 2024 Founder-Friendly Investors List

McNally Capital is pleased to announce its latest honor in being named to Inc.’s 2024 List of Founder-Friendly Investors. This annual list honors the private equity, venture capital firms, and lenders with a track record of backing founder-led companies.

McNally Capital Completes Sale of Advanced Micro Instruments, Inc. to Enpro Inc.

McNally Capital is pleased to announce that the firm has completed the previously announced sale of Advanced Micro Instruments, Inc. to Enpro Inc. (NYSE: NPO). The sale, completed on January 29, 2024, marks the fifth realized portfolio company for McNally Capital.

McNally Capital Portfolio Company Xcelerate Solutions, Merges with VMD Corp

McNally Capital is pleased to share that Xcelerate Solutions, a portfolio company of McNally, announced its merger with VMD Corp, a cybersecurity, agile engineering, and critical infrastructure protection firm based in Fairfax, Virginia.

McNally Capital Appoints Lou Rassey as Co-CEO and Managing Partner

McNally Capital is pleased to announce that Lou Rassey has been appointed as Co-CEO and Managing Partner of the firm, a new position. In the newly formed role of Co-CEO, Lou will work alongside Founder, Co-CEO, and Managing Partner Ward McNally.

McNally Capital Announces Sale of The Re-Sourcing Group

McNally Capital is pleased to announce the sale of The Re-Sourcing Group to MidOcean Partners. Re-Sourcing is a leading provider of strategic staffing, consulting, and direct hire solutions, focusing on Compliance, Legal, Information Technology, Finance, Accounting, and HR positions. The Company serves clients through seven premium brands: JW Michaels & Co., Compliance Risk Concepts, ExecuSource, Perennial Resources International, Partnership Employment, Technology Navigators, and Conexus Recruiting.

McNally Capital to Sell Advanced Micro Instruments, Inc. to Enpro Inc.

McNally Capital is pleased to announce that the firm has entered into a signed purchase agreement to sell Advanced Micro Instruments, Inc. to Enpro Inc. (NYSE: NPO). AMI is a leading provider of highly engineered, application-specific analyzers and sensing technologies, serving customers in the midstream natural gas, biogas, industrial processing, cryogenics, food processing, laboratory, wastewater, and aerospace markets.

Connect with Us

CHICAGO HEADQUARTERS:

151 North Franklin Street, Suite 2650
Chicago, IL 60606
(312) 357-3710