Grant Schultz
Founding Partner
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- Full Name
- Grant A. Schultz
- Title
- Founding Partner
- Firm
- North River Capital LLC
- Firm Type
- Private equity / privately held equity capital firm
- Investment Stage
- Middle market buyouts and growth-oriented majority investments
- Target Company Profile
- U.S. operating companies with long-term strategic growth potential; North River targets companies with EBITDA around $4 million to $8 million, with flexibility for businesses that fit an existing portfolio company.
- Sector Focus
- Manufacturing and industrial companies; also listed exposure to business services, real estate and construction, and sports and entertainment.
- Geographic Focus
- United States
- Location
- Fort Wayne, Indiana
Background
Grant A. Schultz is a Founding Partner at North River Capital LLC, a Fort Wayne, Indiana-based private equity firm formed in summer 2008 by members of the Rifkin family and other former OmniSource Corporation executives after OmniSource was sold to Steel Dynamics in 2007. Public profiles also describe him as a Partner, Principal, and private equity investor at North River.
Before North River, Schultz worked at OmniSource LLC as Vice President of Strategic Development. MarketScreener lists his prior OmniSource role ending in June 2008, shortly before North River’s formation.
Schultz earned an undergraduate degree from Colorado State University in 1985 and an MBA from the University of Tennessee in 1988. His LinkedIn profile also places him in Fort Wayne and lists North River Capital and the University of Tennessee-Knoxville.
At North River, Schultz appears tied to the firm’s industrial manufacturing strategy. In transaction announcements, he has spoken on behalf of North River in deals involving Pro Systems, Coldwater Machine Company, and Wayne Manufacturing.
Investment Thesis & Focus
- North River is not a typical seed-stage angel investor based on the best available public sources; it is described as a private equity capital firm focused on acquiring or investing in operating companies.
- The firm’s stated investment objective is to seek “manufacturing companies with a strong management team and an identifiable niche in their industry.”
- North River’s model is partner-capital driven: public profiles state that the partners invest their own capital and do not place arbitrary limits on investment duration.
- The firm favors majority equity positions in operating companies with long-term growth and value-creation potential.
- The reported EBITDA target is approximately $4 million to $8 million, with flexibility for companies that fit the existing portfolio.
- Schultz’s deal commentary emphasizes core industrial manufacturing, reputation, management quality, durability through volatile periods, and helping companies pursue the next phase of growth.
Notable Investments
- Pro Systems LLC: Churubusco, Indiana-based designer and builder of automated machines and systems for plastics and other industries; North River acquired a majority interest in 2017.
- Coldwater Machine Company LLC: Flexible automation integrator and precision machining/assembly manufacturer; North River portfolio company sold to Lincoln Electric Holdings, Inc., announced January 3, 2019.
- Wayne Manufacturing LLC: LaOtto, Indiana manufacturer of complex stamped steel components and assemblies for automotive and consumer product markets; North River acquired the business in 2009 and sold it to The Hoffmann Family of Companies in a transaction closed June 8, 2023.
- Arctic Fox LLC: Delano, Minnesota supplier of fuel and fluid heating products and systems for oil and gas, heavy-duty truck, off-highway, power sports, and industrial markets; acquired by Phillips & Temro Industries from North River on October 16, 2013.
- Auburn Gear LLC: Auburn, Indiana manufacturer of planetary gear drives and performance differentials; North River invested in a leveraged buyout round dated September 15, 2014.
- T-E Incorporated: Fort Wayne design-build civil contractor; the company states that its association with North River Capital began in 2009.
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