Aaron Mobarak
Co-President & Co-Founder · Dixon Midland Company LLC
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- Title
- Co-President & Co-Founder
- Role
- Co-President, Private Equity & Asset Management
- Firm
- Dixon Midland Company LLC
- Firm Type
- Private Equity / Asset Management (Private Investment Firm)
- Investment Stage
- Middle Market Buyouts (platform companies with EBITDA >$4M, valued $25M-$100M); also operates a Long-Short Equity hedge fund strategy
- Check Size
- $5M-$15M in equity co-investments; $25M-$100M in platform investments
- AUM
- ~$64.9M (Dixon Midland Long-Short Equity LLC); ~$11.4M (Dixon Midland Fund II LLC); additional PE vehicles
- Location
- Chicago, Illinois (980 North Michigan Avenue, Suite 1540, Chicago, IL 60611)
Background
Aaron Mobarak grew up in Dixon, Illinois, where his family operates a ready-mixed concrete business. He attended the University of Illinois (Class of 1991, Gies College of Business), where he was an exceptional student-athlete. On the track and field team, he was an NCAA All-American and won back-to-back Big Ten Championships in the triple jump (achieving a wind-aided distance of 16.10m/52-10.25 in 1991). He maintained a 3.9+ GPA and earned first-team Academic All-America honors -- one of a select group of non-football, non-basketball Illini athletes to achieve that distinction since 1980.
After Illinois, Mobarak began his career at Arthur Andersen & Co. (one of the then-Big Five accounting/consulting firms), then moved to McKinsey & Company, the global management consulting firm. He subsequently earned his MBA from Harvard Business School, further deepening his expertise in business strategy and operations.
In 1997, Mobarak co-founded Dixon Midland Company with Paul Furlow. The two have maintained a proven partnership for nearly three decades. They began as private equity managers and hands-on operators of middle-market growth companies, and over time expanded into public equity investing. In 2020, they launched Dixon Midland Long-Short Equity, translating their core investment principles into a systematic hedge fund strategy. Aaron is married to Maureen, and the couple has five children.
Investment Thesis & Focus
Dixon Midland's investment approach is built on four core principles: value, quality, momentum, and low risk. The firm describes itself as having "an uncommon perspective" rooted not in Wall Street banks or hedge fund analyst desks, but in having "acquired and run real businesses" with deep understanding of value creation.
On the private equity side, Dixon Midland targets profitable middle-market growth companies with operating profit margins of 10% or greater and EBITDA exceeding $4 million. The firm invests across a broad range of sectors including Business Services, Financial Services, Food & Agriculture, Life Sciences & Healthcare, Manufacturing & Industrial, and Transportation & Distribution.
On the public equity side, Dixon Midland Long-Short Equity is designed to deliver above-market returns with below-market risk and low correlations to broader markets. The strategy is systematic and disciplined, serving accredited high-net-worth individuals, registered investment advisors, and family offices. The firm is backed by high-net-worth individuals and sponsored by Reynolds, DeWitt & Company, a Cincinnati-based diversified private investment firm.
Notable Investments
- BarcodesInc -- North America's leading provider of barcode, mobile computing, and RFID solutions. Dixon Midland was the original owner/investor; sold a majority stake to Thompson Street Capital Partners in 2010 and retained a minority interest. TSCP subsequently sold to Cortec Group in 2012. The company later rebranded as Levata.
- Destiny Dental -- A dental service organization (DSO) co-founded in 2010 by Jim Lucci and Boris Labinov in partnership with Dixon Midland. Grew to a network of 250+ healthcare professionals across four upper Midwest states. Exited via sale to ProSmile Holdings LLC in August 2024.
- Midwest Medical Transport (MMT) -- One of the largest independent ground ambulance service providers across seven states (~1,000 employees). Dixon Midland partnered with Panorama Point Partners and ORIX Capital to acquire MMT from its founder in 2015. Sold to Harbour Point Capital in 2021.
- GoodVets -- A veterinary care platform founded in 2016 that partners with entrepreneurial veterinarians. Dixon Midland was an early investor; General Atlantic and SkyKnight Capital also invested. Dixon Midland Veterinary LLC was created as a dedicated vehicle for this investment.
- TechForLess -- An e-commerce company offering discounted technology products. Part of Dixon Midland's private equity portfolio.
- Tech Lighting -- A portfolio company in Dixon Midland's earlier private equity investments.
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