Roger Allenbaugh

Roger Allenbaugh is an M&A and private-investment professional with more than 20 years of experience centered on investing in and managing privately held and family-owned businesses. His transaction experience spans aerospace, defense and government services, financial technology, hospitality, luxury services, internet services, consumer goods, medical devices, pharmaceuticals, and information-technology security. His skill set is described as sourcing opportunities, introducing capital, evaluating investments, structuring and managing transactions, succession-planning advisory, and post-transaction integration.

He began his career as a U.S. Navy officer and pilot, deploying twice to the Mediterranean Sea and Arabian Gulf and leading and training a team of twenty-six junior pilots, aircrewmen, and maintenance personnel across maritime aviation mission areas. After his military service he entered finance, working as an associate at Hamilton Capital Partners, LLC, a middle-market investment bank focused on aerospace, defense, and government-services companies. He subsequently launched a business-strategy consulting practice providing research and analysis to middle-market investment banks.

In 2005 he co-founded Blue Heron Capital, LLC, where he built a business focused on introducing management teams and investment strategies to sophisticated investors. His principal investments there spanned business services, financial services, information technology, data security, life sciences, luxury brands, media companies, and packaged foods. He currently serves as a Managing Partner/Partner at Northharbor Holdings, LLC, the Washington, D.C.-area direct-investment firm.

Roger earned an MBA with distinction from Georgetown University and a Bachelor of Science in Industrial Management and Economics from Carnegie Mellon University. He also holds the Chartered Mergers and Acquisitions Advisor (CM&AA) designation.

• Backs companies with strong leadership that has personal financial stakes, positive recurring cash flow, a substantial market opportunity, and capital needs aligned with expansion goals.
• Targets established lower-middle-market operating businesses, not typical venture stages: roughly $5M–$20M revenue, $1M–$5M EBITDA, and $5M–$30M valuations (~5x–6x EBITDA).
• Writes $2M–$15M equity checks, with co-investment capacity up to ~$50M for larger deals.
• Engages across a range of transaction types: acquisitions, growth capital, leveraged buyouts, management buyouts, and recapitalizations.
• Sector emphasis reflects his career: aerospace/defense/government services, financial services, healthcare, manufacturing, business services, value-add distribution, communications, and IT services & software.
• Stated criteria favor "experienced and committed management team[s]," "strong market dynamics," "sustainable, recurring cash flow," and a "proven business strategy."