Frank Mancuso

Frank Mancuso is a private equity origination and business-development professional who co-founded Two Roads Partners, a New York-based lower middle-market private equity firm launched in 2022, where he serves as Principal and Head of Origination. The firm pursues a "buy-and-build" strategy in blue-collar commercial and industrial sectors, having raised roughly $400 million for TRP Fund I and built a track record cited as 50+ completed partnerships across 11+ platforms. In his origination role, Mancuso is responsible for sourcing new platform investments and add-on acquisitions and for managing relationships with intermediaries and business owners.

Before Two Roads, Mancuso was Vice President of Origination at Soundcore Capital Partners, LLC, which he joined around 2018. Soundcore is a lower middle-market buy-and-build PE firm making control equity investments in founder-owned companies (EBITDA roughly $2M–$14M) across industrial services, business/outsourced services, specialty manufacturing, and value-added distribution. The contact details in the original stub ([hidden], 212-812-1180) date from this tenure. The "Angel Investors / Seed Round" framing in that stub is inaccurate — both Soundcore and Two Roads are control-oriented private equity buyers of established, cash-flowing companies, not early-stage venture or angel investors.

Earlier in his career, Mancuso was Director of Business Development at Axial (the online M&A deal-sourcing network), where he built relationships across the lower middle-market deal community — experience directly relevant to his current origination focus. He began his career in accounting and finance, with roles including Assurance Associate/Intern at PricewaterhouseCoopers (PwC), a Trading Solutions internship at Bloomberg LP, and an accounting internship at Bryn Mawr Trust.

Mancuso earned both a Bachelor of Science in Accounting and a Master of Science in Accounting from Penn State University.

• Invests in established, founder- and family-owned lower middle-market companies — operating businesses with real revenue and EBITDA, not startups.
• Two Roads criteria: targets companies with up to ~$15 million in net income, in fragmented markets, with strong management and culture and mission-critical offerings.
• Sector focus on need-to-have / recession-resistant industries: route-based industrial, facility, environmental and infrastructure services; specialty distribution, warehousing and logistics; and value-added assembly and manufacturing.
• Strategy is platform + add-on (buy-and-build): acquire a platform, then accelerate growth through bolt-on acquisitions and geographic expansion.
• Two Roads' stated, owner-friendly approach: "doing no harm, preserving your legacy, growing at your pace, hiring, not firing" — they position as a partner that strengthens rather than restructures.
• As Head of Origination, Mancuso's "yes" is driven by sourcing fit: a clean founder-owned business in a fragmented, durable industry with a credible add-on roadmap and a management team that wants to keep building.