CHICAGO-BASED INDEPENDENT SPONSOR
Built for
Business Owners
$10M - $50M
REVENUE RANGE
$1M - $7.5M
EBITDA RANGE
Midwest
PRIMARY FOCUS
Day One
HANDS-ON VALUE ADD
Ready for What’s Next
Pine Harbor partners with owners of industrial distribution and supply chain businesses — bringing institutional discipline and operator experience to every transition.
“We’ve run these businesses, not just analyzed them. That changes everything about how we show up as partners.”
WHO WE ARE
Institutional rigor. Operator instincts.
Pine Harbor Industrial Partners is a Chicago-based independent sponsor focused on direct investments in distribution-oriented businesses across the industrial sector. We deploy flexible capital alongside deep operational and sector expertise — combining institutional investment discipline with a family-business mindset to unlock long-term value for owners, employees, and partners alike.
Operational Discipline
Institutional investment strategy paired with hands-on operational oversight — we've run these businesses, not just analyzed them.
Sector Focus
Deep specialization in industrial distribution and supply chain-driven businesses — we know the buyers, suppliers, and value drivers.
Strategic Network
Curated ecosystem of Grainger-era procurement contacts, Midwest Truck alumni, lenders, and industry operators ready to add value on day one.
Proven Transition Playbook
A tested framework for ownership transitions that preserves culture, retains key employees, and maintains customer relationships through every stage of the deal.
WHAT WE LOOK FOR
Investment Criteria
We focus exclusively on the lower middle market, where our sector expertise and hands-on approach create the most meaningful impact for owners and their businesses.
REVENUE
$10M - $50M
Annual Revenue at time of investment.
INDUSTRY FOCUS
Industrial Distribution & Supply Chain
Businesses providing value-added products across the industrial supply chain.
EBITDA
$1.0M - $7.5M
Profitable businesses with demonstrated, stable cash flow.
GEOGRAPHY
Midwest Focus
Where our operator network and relationships run deepest.
IDEAL PARTNERS Retiring owners navigating succession planning, and owners open to transitional or ongoing operational roles.
TRACK RECORD
Representative Experience
Midwest Truck & Auto Parts
S&S Truck Parts
Grainger (NYSE: GWW)
Sabrepak
Spartan Tool Supply
SOLD TO INVESTCORP
POST-MERGER INTEGRATION
7+ YEARS CORPORATE STRATEGY
ACTIVE INVESTMENT - PACKAGING MFG.
ACTIVE INVESTMENT - INDUSTRIAL DIST.
Sale of Midwest Truck & Auto to Investcorp and subsequent merger with S&S Truck Parts — navigating a complex dual transaction while ensuring organizational stability, retaining key personnel, and driving value through ERP, CRM, and eCommerce modernization.
REPRESENTATIVE TRANSACTION - INDUSTRIAL DISTRIBUTION
LEADERSHIP
Our Team
Two operators who have built, sold, and invested in the exact businesses we target — bringing a perspective that only comes from being in the room.
MC
Michael Chudacoff
CO-FOUNDER & MANAGING PARTNER
Former President of Midwest Truck & Auto Parts, where he drove enterprise value through ERP, CRM, and eCommerce modernization and led the high-stakes relocation of the company's primary distribution hub. Orchestrated the sale to Investcorp and subsequent merger with S&S Truck Parts, ensuring organizational stability throughout — a proven playbook Pine Harbor brings to every partnership.
CS
Chirag Shah
CO-FOUNDER & MANAGING PARTNER
Over 7+ years at Grainger in corporate strategy. Identified growth opportunities and developed deep insights into the procurement process of Grainger's Fortune 500 customers. Active sector investor with deployed capital in Sabrepak (packaging manufacturing) and Spartan Tool Supply (industrial distribution). Combines institutional strategic oversight with hands-on experience in energy and real estate ventures.
GET IN TOUCH
Let’s Start a Conversation
Whether you're actively planning your exit or just beginning to explore options, we're happy to have a confidential, no-pressure conversation.
Every conversation is completely confidential — no obligation, no pressure.
We respond to every inquiry within one business day.
We work directly with owners — no intermediaries required.
Your information is kept strictly confidential and will never be shared without your permission.