
Our Sectors
Business Services
Calera has a long history of successfully building leading business services organizations that share a number of common characteristics. Our partners operate highly defensible businesses, often with a strong focus on end-markets where clients value domain expertise and specialization. They provide services that are mission-critical to their clients, though not their client’s core competency. As a result, they have enduring client relationships that tend to expand in scope over time.
These businesses have a strong opportunity to leverage their unique models to drive significant growth and profitability. At the same time, our prospective partners often face a number of hurdles in taking their business to the next level. These include opportunities to ramp sales and marketing efforts, professionalize process workflows, invest in technology infrastructure, broaden service offerings, expand geographically, and consolidate fragmented industries.
Calera has helped its partners address these challenges and others with a deep bench of operating talent. We engage each of our partners in a collaborative strategic dialogue to develop a plan that is custom-fit for their business. Through this approach, our partners have been able to successfully elevate their businesses by building upon the foundation of what has made them unique and successful.
Critical Function Outsourcing
Compliance & Risk Management
Human Capital Management Services
Revenue Management Services
Select Portfolio Companies

Nocturne Luxury Villas
Luxury short term rental management and related services
Nocturne Luxury Villas is a leading provider of management and marketing services for short-term rentals of luxury residences. The company provides a range of property marketing, property management, and related guest services that enable homeowners to generate rental revenue from their vacation properties with limited personal involvement, while also creating exceptional experiences for guests staying at Nocturne properties. Built through the acquisition and subsequent growth of best-in-class local property management companies, the company has established itself as the pre-eminent consolidator in the luxury segment of the large, growing, and fragmented short-term rental management market. The business is headquartered in Jacksonville, Florida.
In March 2025, Calera Capital acquired a majority stake in Nocturne in partnership with management.

C-4 Analytics
Digital marketing services for franchise auto dealers
C-4 Analytics is a provider of digital marketing services for the franchise automotive dealer market across the United States. Since its founding in 2009, C-4 Analytics has developed a strong reputation as a strategic business partner for its clients, providing a fully outsourced solution for dealers’ digital marketing needs delivered through white glove customer service. Its comprehensive capabilities and agency approach have enabled C-4 Analytics to deliver superior results for its clients at a lower all-in cost. The business is headquartered in Wakefield, MA.
In May 2024, Calera Capital acquired a majority stake in C-4 Analytics in partnership with co-founders Mike Weiss (CEO) and Justin Cook and existing management.

F&I Sentinel is a provider of compliance services for the automotive lending market. F&I Sentinel protects consumers, finance companies, and dealers by facilitating a compliant and efficient finance and insurance (“F&I”) product marketplace. The company provides cutting-edge compliance solutions to mitigate the reputational, financial, litigation, and regulatory risks of financing F&I products. The business is headquartered in Tallahassee, Florida.
In February 2022, Calera Capital acquired a majority stake in F&I Sentinel in partnership with co-founders Stephen McDaniel and Matt Nowels and existing management.

ImageFIRST is the largest and fastest-growing national linen rental and laundry service specializing in the healthcare market. ImageFIRST serves medical facilities nationwide, providing linen, patient gowns, scrubs, safety & hygiene programs, and more while managing their clients’ linen inventory for cost management. With a customer retention rate of over 95%, ImageFIRST is dedicated to improving staff and patient satisfaction through its quality linen and remarkable service. As leaders in infection prevention, they own and operate the most HLAC-accredited facilities in the industry. The business is headquartered in King of Prussia, Pennsylvania.
In October 2018, Calera Capital acquired a majority stake in ImageFIRST in partnership with management. Calera recapitalized ImageFIRST through a single-asset continuation fund in June 2023.

Atrium Home Services
Residential HVAC, plumbing, and electrical services
Atrium Home Services is a leading provider of HVAC, plumbing, electrical, and other non-discretionary repair and replacement services for existing single-family homeowners across the Midwest. Each of the company’s brands has a leading position in its home market, enabled by a commitment to customer service, operational excellence, and recruiting and retaining talented employees. The business is headquartered in Cleveland, Ohio.
In December 2021, Calera Capital acquired a majority stake in the founding companies of Atrium Home Services, in partnership with the company founders and management teams.

Thayer Infrastructure Services
Field services for utility and telecommunications industries
Thayer Infrastructure Services is a leading provider of mission-critical repair, maintenance, and upgrade services for the utility and telecommunications industries. Thayer Infrastructure Services has a deep understanding of how to deliver and drive day-to-day field work safely and consistently, and with high quality. The company operates in three primary lines of business: electric utility services, fiber deployment and other wireline telecommunications services, and wireless services. The company offers its services across a large regional area, including the central Midwest, Northeast, and Southeast United States. The business has corporate offices in Columbus, Ohio, and Detroit, Michigan.
In March 2020, Calera Capital acquired a majority stake in Thayer Infrastructure Services in partnership with management.

Cypress Health Partners
Physical therapy and chiropractic services
Cypress Health Partners (formerly Bay State Physical Therapy) is the leading provider of physical therapy services in New England. Cypress Health Partners provides a wide range of evidence-based treatments, including therapeutic exercise, joint mobilization, soft tissue mobilization, neuromuscular education, spinal manipulation, and aquatic therapy. The company operates over 100 physical therapy clinics and chiropractic offices across Massachusetts, Maine, New Hampshire, and Rhode Island. The company is headquartered near Boston, Massachusetts.
In March 2019, Calera Capital acquired a majority stake in Cypress Health Partners in partnership with the company’s founder, Dr. Steven Windwer.
United Dental Partners
Non-clinical services to dental practices
United Dental Partners, headquartered in Chicago, is a leading provider of non-clinical services to dental practices. UDP provides dental facilities, support staff and administrative services to dental organizations, freeing them up to focus on providing the highest quality clinical care for their patients. All Family Dental and Braces, First Smiles Dental and Smiles for Families are the firm's major clients. These practices provide patients with affordable access to multiple dental specialties, including orthodontia, pediatrics and oral surgery.
In March 2017, Calera Capital acquired a majority stake in United Dental Partners in partnership with the Company's founders, Dr. Scott Goldman and Dr. Louis Whitesman.
Carnegie Fabrics
Interior textiles and wall finishes
Carnegie Fabrics is a leading supplier and innovator of sustainable textiles for the corporate, healthcare, hospitality, and other non-residential building markets. Carnegie Fabrics offers design-driven textiles and other products for use in wall coverings, upholstery, acoustic applications, and other interior products. The company has built a reputation for its ongoing and comprehensive commitment to sustainability through all parts of its business cycle. The company is headquartered in Rockville Centre, New York.
In December 2016, Calera Capital acquired a majority stake in Carnegie Fabrics in partnership with the company’s President, Cliff Goldman, and management.

Transaction Services Group is the leading full-service outsourced provider of highly differentiated solutions and technology that enable businesses to efficiently accept recurring payments from customers. Initiating over 50 million transactions worth more than $2 billion annually, the company’s broad solution set provides clients with payment processing, customer service, credit control, debt collection, data analytics, and reporting services. Transaction Services Group operates under multiple brands, including Debitsuccess, PaySmart, DFC, and Harlands Group. The business is headquartered in Auckland, New Zealand, with operations across Australasia, Europe, and North America.
In November 2015, Calera Capital acquired a stake in Transaction Services Group in partnership with the company’s chairman and management. Calera sold Transaction Services Group to a leading private equity sponsor in October 2019.

RFIB
Independent Lloyd’s insurance broker
RFIB is a leading independent provider of wholesale brokerage services to the Lloyd’s insurance market. The company places premiums on a global basis in specialist insurance and reinsurance markets on a fee-for-service basis, with no risk taken onto its balance sheet. The company’s strong brand, domain expertise, and long-standing client base have been built over its 35-year operating history. The company is headquartered in London and has eight offices in major international centers.
In October 2015, Calera Capital acquired a majority stake in RFIB in partnership with management and employees. Calera sold RFIB to a leading private equity sponsor in January 2020.

United Site Services
Portable sanitation and related site services provider for outdoor facilities
United Site Services is the leading provider of portable sanitation solutions and related site services in the United States and the only provider with a national operating footprint. United Site Services provides these site services and other non-hazardous liquid waste services to commercial and industrial businesses, non-residential and residential construction companies and building owners, special events, and government, military, and agricultural customers. The business is headquartered in Westborough, Massachusetts.
In August 2014, Calera Capital acquired United Site Services in partnership with existing management. Calera sold United Site Services to a leading private equity sponsor in August 2017.